Core Viewpoint - Plains GP Holdings, L.P. is a significant player in the midstream energy sector, focusing on the transportation and storage of crude oil and natural gas liquids across the U.S. and Canada, with extensive assets that enhance its industry presence [1] Group 1: Company Overview - Plains GP Holdings operates pipelines, storage facilities, and processing plants, solidifying its role in the energy industry [1] - The company competes with other energy infrastructure firms, such as Plains All American Pipeline [1] Group 2: Stock Performance and Analyst Sentiment - The consensus price target for PAGP's stock has increased from $21.17 a year ago to $22.5 in the previous quarter, and currently stands at $23, indicating positive analyst sentiment and expectations of growth [2][5] - The upward trend in price targets suggests improved performance expectations for the company [2] Group 3: Investment Appeal - In the context of market volatility, PAGP is viewed as an attractive investment opportunity due to its high-earnings-yield value and positive outlook [3][5] - The Zacks Rank system highlights the importance of earnings estimates and revisions, with PAGP being noted for its potential undervaluation [3] Group 4: Monitoring and Insights - Investors interested in Plains GP Holdings should monitor company news related to stock target prices and earnings for insights into performance and market expectations [4]

4Q25 Earnings Call Investor Relations Contacts Blake Fernandez Vice President, Investor Relations Blake.Fernandez@plains.com Ross Hovde Director, Investor Relations Ross.Hovde@plains.com Investor Relations 866-809-1291 plainsIR@plains.com 2 February 6, 2026 Forward-Looking Statements & Non-GAAP Financial Measures Disclosure This presentation contains forward-looking statements, including, in particular, statements about the performance, plans, strategies and objectives for future operations of Plains All Am ...

Exhibit 99.1 Plains All American Reports Fourth-Quarter and Full-Year 2025 Results Houston, TX – February 6, 2026 – Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today reported fourth-quarter and full-year 2025 results, announced 2026 guidance and provided the following highlights: Fourth Quarter and Full-Year 2025 Results 2026 Outlook and Key Highlights "Last year we took significant steps to transition the company toward becoming the premier North American pure pla ...

HOUSTON, Feb. 06, 2026 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today reported fourth-quarter and full-year 2025 results, announced 2026 guidance and provided the following highlights: Fourth Quarter and Full-Year 2025 Results Fourth-quarter and full-year 2025 Net income attributable to PAA of $342 million and $1.435 billion, respectively, and 2025 Net cash provided by operating activities of $785 million and $2.94 billion, respectivelyDelive ...

Core Insights - The midstream sector is demonstrating strong financial health at the start of 2026, with numerous companies announcing increases in distributions and dividends, reinforcing its position as a reliable income source for investors [1] Payout Growth Across Midstream - Williams (WMB) raised its quarterly cash dividend to $0.525 from $0.50, a 5% increase [1] - Plains All American (PAA/PAGP) increased its quarterly distribution to $0.4175 per unit, reflecting a 9.9% rise [1] - Enterprise Products Partners (EPD) raised its distribution to $0.55, nearly a 1% increase [1] - ONEOK (OKE) announced a 4% sequential increase to $1.07 per share [1] Broad Sector Momentum - Energy Transfer (ET) increased its quarterly distribution to $0.335, a 3.1% year-over-year rise from $0.325 [1] - Hess Midstream (HESM) raised its payout to $0.7641, marking a 9.0% year-over-year increase [1] - Sunoco LP (SUN) announced a distribution of $0.9317, a 5.1% year-over-year increase [1] - Genesis Energy (GEL) raised its distribution by $0.015 to $0.18 per unit, a 9.1% increase [1] - Kinetik (KNTK) raised its payout to $0.81, reflecting a 4% sequential increase [1] - Delek Logistics (DKL) increased its payout to $1.125, representing a 1.85% year-over-year rise [1] ETF Exposure - Energy Transfer, Enterprise, Hess Midstream, Genesis, Delek Logistics, Sunoco, and Plains are included in both the Alerian MLP ETF (AMLP) and the Alerian Energy Infrastructure ETF (ENFR) [1] - AMLP tracks the Alerian MLP Infrastructure Index (AMZI), while ENFR tracks the Alerian Midstream Energy Select Index (AMEI) [1] - Williams, ONEOK, and Kinetik operate as C-corps, with only ENFR holding them [1]

Core Insights - Investors often focus on the price-to-earnings (P/E) ratio for stock valuation, but this metric has limitations [1] - The EV-to-EBITDA ratio is considered a more comprehensive valuation metric, providing a clearer picture of a company's true value and earnings potential [2][4] Valuation Metrics - EV-to-EBITDA is calculated by dividing a company's enterprise value (EV) by its earnings before interest, taxes, depreciation, and amortization (EBITDA), offering a complete view of a company's valuation [4] - A lower EV-to-EBITDA ratio typically indicates a stock may be undervalued, making it attractive for acquisition targets [5] - Unlike P/E, EV-to-EBITDA can be applied to companies with negative net earnings but positive EBITDA, making it useful for evaluating highly leveraged firms [6] Limitations of EV-to-EBITDA - EV-to-EBITDA has its own limitations and should not be used in isolation; it varies across industries and is not suitable for comparing companies in different sectors [7] Screening Criteria for Bargain Stocks - Parameters for screening include: - EV-to-EBITDA ratio lower than the industry median [8] - P/E ratio lower than the industry median [8] - P/B ratio lower than the industry median [9] - P/S ratio lower than the industry median [9] - Estimated one-year EPS growth greater than or equal to the industry median [9] - Average 20-day volume greater than or equal to 50,000 [10] - Current price greater than or equal to $5 [10] - Zacks Rank of 1 or 2 [10] - Value Score of A or B [11] Selected Stocks - Industrial Logistics Properties Trust (ILPT) has a Zacks Rank of 1 and a Value Score of A, with an expected earnings growth rate of 20% for 2026 [11][12] - Plains GP Holdings (PAGP) also has a Zacks Rank of 1 and a Value Score of A, with an expected earnings growth rate of 27% for 2026 [12][13] - ASGN Incorporated (ASGN) holds a Zacks Rank of 2 and a Value Score of A, with an expected earnings growth rate of 10.1% for 2026 [13][14] - California Water Service Group (CWT) has a Zacks Rank of 2 and a Value Score of B, with an expected earnings growth rate of 8.3% for 2026 [14][15] - Dollar Tree, Inc. (DLTR) has a Zacks Rank of 2 and a Value Score of B, with an expected earnings growth rate of 12.4% for the current fiscal year [15][16]

Core Viewpoint - Plains All American Pipeline, L.P. (PAA) and Plains GP Holdings (PAGP) announced their quarterly distributions for the fourth quarter of 2025 and the timing for their earnings release [1][4]. Distribution Declaration - PAA and PAGP declared a quarterly cash distribution of $0.4175 per Common Unit and Class A Share, which is an increase of $0.0375 from the previous distribution in November 2025, representing a 10% annualized increase [7]. - PAA also announced a quarterly distribution of $21.02 per Series B Preferred Unit, payable on February 17, 2026 [2]. Earnings Timing - The companies will release their fourth quarter 2025 earnings before market open on February 6, 2026, followed by a conference call at 9:00 a.m. CT to discuss the earnings [4]. Company Overview - PAA operates midstream energy infrastructure and logistics services for crude oil and natural gas liquids, handling approximately nine million barrels per day [5]. - PAGP holds a non-economic controlling general partner interest in PAA and is one of the largest energy infrastructure and logistics companies in North America [6].

Core Insights - Three stocks with strong value characteristics and a buy rank are highlighted for investors to consider on November 28 Group 1: Interface, Inc. (TILE) - Interface, Inc. is a modular carpet products company with a Zacks Rank 1 [1] - The Zacks Consensus Estimate for its current year earnings has increased by 8.8% over the last 60 days [1] - The company has a price-to-earnings ratio (P/E) of 15.05, significantly lower than the S&P 500's P/E of 25.07 [1] - Interface possesses a Value Score of A [1] Group 2: Universal Health Services, Inc. (UHS) - Universal Health Services, Inc. operates hospitals and outpatient and behavioral health care facilities, also holding a Zacks Rank 1 [2] - The Zacks Consensus Estimate for its current year earnings has increased by 6.7% over the last 60 days [2] - The company has a price-to-earnings ratio (P/E) of 11.19, compared to the S&P 500's P/E of 25.07 [2] - Universal Health possesses a Value Score of A [2] Group 3: Plains GP Holdings, L.P. (PAGP) - Plains GP Holdings, L.P. is a midstream infrastructure systems company with a Zacks Rank 1 [3] - The Zacks Consensus Estimate for its current year earnings has increased by 2.9% over the last 60 days [3] - The company has a price-to-earnings ratio (P/E) of 12.89, lower than the industry average of 18.90 [3] - Plains GP possesses a Value Score of A [3]

Group 1 - The topical investment idea for November 2025 focuses on acquiring assets in the energy sector due to positive expectations for the recovery of the hydrocarbon market and increasing demand for energy resources [1] - The analysis combines macro-economic insights with real-world trading experience to identify profitable and undervalued investment opportunities primarily in the U.S. market [1] - The goal is to build a high-yield, balanced portfolio by leveraging deep knowledge in economics and fundamental investment analysis [1] Group 2 - The professional background includes a combination of roles as an Investment Consultant and an Active Intraday Trader, enhancing the ability to maximize returns [1] - The expertise is supported by two university degrees in Finance and Economics, complemented by active practice in management and trading [1] - The analysis aims to provide clear, actionable investment ideas designed to build a balanced portfolio of U.S. securities [1]

Financial Performance - Net income for the nine months ended September 30, 2025, was $1,279 million, a 34% increase from $953 million in the same period of 2024[136] - Net income for the three months ended September 30, 2025, was $504 million, a 67% increase from $301 million in 2024[160] - Basic net income per Class A share for continuing operations increased by 67% to $0.60 for the nine months ended September 30, 2025, compared to $0.36 in 2024[137] - Adjusted EBITDA for the three months ended September 30, 2025, was $806 million, slightly up by 1% from $805 million in 2024[160] - Adjusted EBITDA attributable to PAA for the nine months ended September 30, 2025, was $2,095 million, a 2% increase from $2,051 million in 2024[160] Revenue Changes - Product sales revenues decreased by 9% to $32,389 million for the nine months ended September 30, 2025, compared to $35,606 million in 2024[137] - Services revenues increased by 5% to $1,309 million for the nine months ended September 30, 2025, compared to $1,248 million in 2024[137] - Crude Oil segment revenues for Q3 2025 were $11,559 million, a decrease of 7% compared to $12,444 million in Q3 2024[165] - NGL segment revenues for Q3 2025 were $24 million, an increase of 20% from $20 million in Q3 2024[173] Operating Costs and Expenses - Field operating costs decreased by 9% to $873 million for the nine months ended September 30, 2025, compared to $962 million in 2024[137] - General and administrative expenses increased by 2% to $255 million for the nine months ended September 30, 2025, compared to $251 million in 2024[137] - Field operating costs decreased by 30% in Q3 2025 compared to Q3 2024, primarily due to prior year settlements related to the Line 901 incident[169] - Depreciation and amortization from continuing operations for the three months ended September 30, 2025, was $230 million, a 2% increase from $226 million in 2024[160] Capital Expenditures and Investments - Total capital expenditures for the nine months ended September 30, 2025, amounted to $1.382 billion, significantly higher than $547 million for the same period in 2024[181] - The company projected total investment capital for the year ending December 31, 2025, to be approximately $600 million, with about half allocated to Permian JV assets[182] - Maintenance capital expenditures for Q3 2025 were $36 million, down 25% from $48 million in Q3 2024[165] Debt and Interest Expenses - Interest expense for the three months ended September 30, 2025, increased to $112 million from $97 million in 2024, a rise of 15%[149] - The company issued $1.0 billion in senior notes at 5.95% in January 2025 and $650 million at 5.70% in June 2024, contributing to the increase in interest expense[149] - In January 2025, the company completed the offering of $1.0 billion in senior notes at a 5.95% interest rate, with net proceeds of approximately $988 million used for acquisitions and debt repayment[188] - In September 2025, the company issued $1.25 billion in senior notes, with net proceeds of approximately $1.2 billion used to redeem existing senior notes and fund the EPIC Pipeline acquisition[189] Strategic Changes and Acquisitions - The pending sale of the Canadian NGL Business is expected to close in the first quarter of 2026, representing a strategic shift for the company[133] - A net gain of $31 million was recognized related to the acquisition of the remaining 50% interest in Cheyenne in the first quarter of 2025[148] - PAA acquired 100% of the EPIC Pipeline for approximately $2.9 billion, including $1.1 billion of debt assumed[204] Cash Flow and Liquidity - Net cash provided by operating activities for the first nine months of 2025 was $1.833 billion, compared to $1.592 billion for the same period in 2024, reflecting a year-over-year increase of 15.1%[180] - As of September 30, 2025, the company had a working capital surplus of $218 million and approximately $3.9 billion in liquidity available for ongoing needs[177] Shareholder Distributions - A quarterly cash distribution of $0.38 per Class A share will be paid on November 14, 2025, amounting to an annualized distribution of $1.52 per share[195] - PAA plans to pay a quarterly cash distribution of approximately $0.615 per unit to Series A preferred unitholders on November 14, 2025[197] - PAA will pay a quarterly cash distribution of approximately $21.93 per unit to Series B preferred unitholders on November 17, 2025[198] Risk Management - PAA's risk management policies include the use of derivative instruments to hedge commodity price risks associated with crude oil and power[212] - The company anticipates potential impacts from economic conditions, including inflation and supply chain issues, on demand for midstream services[210] Other Financial Metrics - The average NYMEX Price for crude oil was $67 per barrel for the nine months ended September 30, 2025, down from $78 per barrel in 2024[141] - The overall impact of lower commodity prices and fewer market-based opportunities partially offset the benefits from higher tariff volumes and recent acquisitions[168] - As of September 30, 2025, PAA had outstanding letters of credit of approximately $70 million[205] - PAA has approximately $939 million of unsold securities available under its shelf registration statement as of September 30, 2025[192] - PAA has approximately $1.1 billion of unsold securities available under its PAA Traditional Shelf as of September 30, 2025[193]