Investor Presentaiton
Plains On a Page
Significant multi-year Free Cash Flow (FCF)
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Targeting +/- $1.4B in 2022 (+/- $700MM FCFAD(1))
-2022 FCFAD allocation: -75% to debt reduction, -25% to distribution growth / discretionary repurchases
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- 2023+: increasing cash returned to equity holders as leverage decreases
■ Critical infrastructure aligned with long-term fundamentals
- Tight global energy markets highlighting need for security of global supply; Permian positioned to drive vast majority of U.S. short-
cycle production growth in 2022 & beyond; anticipate +/- 600 mb/d of Permian oil production growth for next several years
- Highly integrated & flexible system positioned to service volume growth with minimal incremental CAPEX
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Optimization & emerging energy opportunities
- Capital-efficient optimization and/or brownfield asset expansion, strategic JVs, etc.
- Formed Plains' Emerging Energy team, advancing multiple opportunities
2022(G): Furnished February 9, 2022.
(1) See Definitions.
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