Energy Transfer Corporate Presentation
2023 A Key Inflection Period - Lower Capital and Higher EBITDA
Legacy ET Organic Growth
Capital¹
ET Adjusted EBITDA²
2018
$4.9B
2023E3
$13.5-$13.6B
2023E3
Less Than $2B
2018
$9.5B
Long-term annual growth capital run rate expected to be
between $2 billion to $3 billion
1Includes ET's proportionate share of JV spend
2 Adjusted EBITDA includes 100% of ET's EBITDA related to non-wholly-owned subsidiaries
3 Includes the consolidated operations of Crestwood in November and December 2023
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•
Bakken Pipeline System*
2017
•
Trans Pecos/Comanche Trail
Pipelines*
Major growth projects added since 2017
•
Permian Express 3*
Panther Plant
Arrowhead Plant
•
•
Rover Pipeline*
•
2018
•
Frac V
Arrowhead II Plant
Mariner East 2
•
Rebel II Plant
•
Bayou Bridge Phase II*
•
•
Permian Express 4*
JC Nolan Diesel Pipeline*
Arrowhead III Plant
2019
•
Frac VI
•
Panther II Plant
•
Red Bluff Express Pipeline*
Mariner East 2X
•
Frac VII
•
2020
.
PA Access
2021
•
•
•
Lone Star Express Expansion
Mariner East 2X
PA Access
Cushing South Phase I
Orbit Ethane Export Terminal*
LPG Expansions
Bakken Optimization*
•
Permian Bridge
ENERGY
TRANSFER
•
Mariner East 2
•
Permian Bridge Phase II
2022
.
Ted Collins Link
•
Grey Wolf Processing Plant
•
Cushing South Phase II
•
Gulf Run Pipeline
•
2023
•
Bear Processing Plant
Frac VIII
•
Pipeline optimization projects
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*Joint VenturesView entire presentation