Investor Presentaiton

Evolving U.S. NGL and LPG Seaborne Trade Flows U.S. VLGC Cargoes to Asia Remain Resilient Despite Lockdowns 2019 YTD 2020 YTD Europe 18.2% Americas Europe 18.4% Americas 21.2% 26.7% SE Asia Africa 2.4% SE Asia 6.5% Africa 3.5% • 7.7% India 2.9% Far East 42.1% India 2.1% Far East 48.3% More U.S. Supply Heading to China 100% 24% 23% 29% 24% 33% 80% 37% 15% 19% 15% 8% 60% 19% 18% 12% 18% 18% 20% 14% 40% 16% 10% 14% 19% 11% 8% 7% 19% 7% 10% 20% 17% 21% 24% 14% 27% 18% 6% 10% 2015 2016 2017 2018 2019 2020 YTD Source: EIA, IHS Waterborne ■U.S. Saudi Arabia ■ UAE ■Iran Qatar Others Note: VLGC cargo YTD values shown through September 30, 2020 . • YTD VLGC liftings from the U.S have increased 12% Y/Y 2020 arbs to the East began the year strong and have largely held to present Chinese PDH and other Asian cracking demand are expected to outstrip MEG supply, and force suppliers to look West, boosting ton miles • • U.S. supply accounts for 27% of China's YTD imports June 2020 and 3Q20 marked record imports of U.S. LPG China resumed LPG purchases from U.S. in March as tariffs were waived on U.S. imports Import demand is set to increase as new PDH projects come online 13

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