Investor Presentaiton

1. 2. 2022 Outlook Supported by Strong, Predominantly Fee-based Core Business ET 2023E Adjusted EBITDA $13.05 - $13.45 billion 2022 to 2023 Adjusted EBITDA Drivers + Volume growth on existing assets + NGL pipeline, frac and export activities + Lotus acquisition - Lower commodity prices - 2022 one-time items + Organic Projects + Gulf Run Pipeline + Grey Wolf Processing Plant + Bear Processing Plant Spread margin is pipeline basis, cross commodity and time spreads Fee margins include transport and storage fees from affiliate customers at market rates 2023E Adjusted EBITDA Breakout Commodity Spread¹ 5-10% 0-5% Fee² -90% Pricing/spread assumptions based on current futures markets ՈՐ ENERGY TRANSFER 9

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