2022 Investor Day Presentation

LIQUIDS PIPELINES 2022 - 2026E COMPARABLE EBITDA (1) OUTLOOK Significant free cash flow and option value $Billions 2.0 1.5 1.0 1.3 0.5 0.0 2022E CAGR 4% CAGR 1% Sanctioned capital Latent capacity optimization 1.4 Average maintenance capital ~5% comparable EBITDA (1) 2026E Maintenance capital Driven by strong market fundamentals, strategically positioning for the future Focus on operational excellence + 94% of Keystone System is under long-term contract Ensure sustainable long-term free cash flow + Optimizing latent capacity of our existing assets + Invest in capital-light projects to maximize value of infrastructure and increase system connectivity 0000000000 00000 00000 00000 00000 О OOOOO OOOOO OOOOO 00000 О О (1) Comparable EBITDA is a non-GAAP measure. See the forward-looking information and non-GAAP measures slide at the front of this presentation for more information. 73

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