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Investor Presentaiton

Multiple Pipeline Opportunities - Permian Basin Bottleneck Means More Pipelines Historical U.S Rig Count (1) Permian Basin Oil & Gas Production Growth Continues (3) Gas 12.0 Oil 3.0 10.0 1200 1000 800 600 400 200 0 2016 2.5 8.0 2.0 6.0 1.5 1.0 0.5 0.0 2017 Permian Basin Over 32,000 miles of new and planned North American oil & gas pipelines estimated at December 31, 2019. (2) Key Point 2018 2019 Total 2011 2012 O 2013 2014 2015 2016 4.0 2.0 0.0 Oil (MMbbl/D) Gas (Bcf/D) It is predicted that oil production in the Permian Basin will increase over the next 10 years. (4) Key Point 2017 2018 2019 Sources: 1) Baker Hughes, April 28, 2019 2) Pipeline and Gas Journal, 2020 Global Pipeline Construction Outlook in the U.S. report 3) Texas RRC Production Statistics through November 2019 4) Enverus Drillinginfo, October 2019 223 23
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