Investor Presentaiton
4Q & FY 2021 Earnings Call Highlights & Outlook (Feb 9th)
Solid execution, reducing debt & returning cash to equity holders
Since
3Q21
Call
2022
Outlook
◉
Adj. EBITDA (¹): 4Q $564MM / FY 2021 $2,196MM
Equity Repurchases: 4Q $61MM / FY 2021 $175MM
Moody's upgrade to Investment Grade (Baa3, Stable)
Capline Reversal & Wink-to-Webster placed into service
Adj. EBITDA(G)(¹) +/- $2.2B: Growth of ~$200MM YoY normalized for unique 2021 items
Forecast +/- $1.4B FCF (+/- $700MM FCFAD(2)) & YE-22 leverage (2) +/- 4.25x
■ Intend to recommend $0.15/unit annualized distribution increase to Board
2022(G): Furnished February 9, 2022.
(1) Attributable to PAA. (2) See Definitions.
Please visit https://ir.paalp.com for a reconciliation of Non-GAAP financial measures reflected above to most directly comparable GAAP measures.
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