Investor Presentaiton

Segment Profit Growth Growth in Segment Profit (1,2,3,4) (C$mm) ~158% (~21% CAGR) in Core Infrastructure $800 Segment Profit from 2017 to 2022 PF $700 $600 $520 $517 $469 $475 $500 $400 $377 $300 $200 Transaction immediately grows Core Infrastructure Segment Profit by an additional ~35% $562 Gateway % Infrastructure Marketing Above Run Rate (2) Marketing Divested Business Pro Forma Gibson Infrastructure expected to account for 85% of Segment Profit ~80% of Infrastructure revenues take-or-pay (>95% when including fee-based) ✓ Third terminal platform provides future growth optionality Enhanced scale and diversity strengthens Gibson's competitive positioning GIBSON ENERGY INVESTOR PRESENTATION $100 ~60% ~55% ~55% ~55% ~60% ~80% ~85% Core Infrastructure $0 2017A 2018A 2019A 2020A 2021A 2022A 2022PF Immediately accretive to DCF per share (1) Segment Profit illustratively adjusted for estimated finance leases under IFRS 16 for 2017 to improve comparability with current presentation. (2) Long-term run rate for Marketing Segment Profit assumes C$80 - C$120mm per year for 2019 forward, where previously the range assumed was C$60 - C$80mm; Marketing Outperformance reflective of earnings above the upper-bound of the Marketing Long-Term Run Rate where Marketing Long-Term Run Rate and Marketing Outperformance sum to equal Marketing Segment Profit as disclosed in Q4 2022 MD&A. (3) 2022 average CAD/USD FX rate of 1.3011. (4) Based on 2022 PF Segment Profit.

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