Investor Presentaiton
(1)
Significant EBITDA Growth and Balance Sheet Strength
Maintaining balance sheet strength and financial flexibility over the long-term remain a key priority
Adjusted EBITDA
($ in Billions)
$4.0
$3.5
$3.0
$2.5
$2.0
$1.5
$1.0
$0.5
$0.0
2019
Industry Leading Growth
+150% Adjusted EBITDA (1) Growth
2020
2021
2022
2023E
Consolidated Leverage
6.0x
5.0x
Strong Investment Grade Balance Sheet
Significant Financial Flexibility
4.0x
Long-Term
Target
3.0x
2.0x
1.0x
0.0x
2019
2020
2021
2022
2023E
Adjusted EBITDA is a non-GAAP measure. Please see the section of this presentation entitled "Non-GAAP Financial Measures" for a discussion of adjusted EBITDA and a reconciliation of such measure to its most directly comparable GAAP financial measure. Adjusted EBITDA
growth based on midpoint of projected 2023E Adjusted EBITDA guidance.
TR TARGA INVESTOR PRESENTATION
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