Investor Presentation January 2024

Marketing: A Unique Competitive Advantage Physical business and natural extension of integrated value chain that enhances returns Marketing is a Physical Business Products Natural Gas Liquids (NGLs) Products Pipeline Ethane (C2) Propane (C3) Butane (C4) Condensate (C5+) Truck Crude Iso-octane (iC8) Destinations Eastern Canada West Coast Canada Oilsands Bakken Conway US Gulf Coast US Midwest US West Coast Stronger cash flow from Marketing segment Rail Consistently Delivering Above Peer Average ROIC¹ Peer average ROIC 20% 15% 10% 5% 0% 2018 Keyera ROIC 2019 2020 2021 Source: Scotiabank See slide 21 for notes regarding this slide 2022 More volumes available to market Reinvest in fee-for- service business growth 14

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