Exhibit 99.1 - more - Plains All American Reports Second-Quarter 2024 Results & Raises 2024 Guidance Houston, TX – August 2, 2024 – Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today reported strong second-quarter 2024 results and raised full-year 2024 Adjusted EBITDA guidance. Second-Quarter Results • Reported net income attributable to PAA of $250 million and net cash provided by operating activities of $653 million • Delivered Adjusted EBITDA attributable to PAA ...

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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________ Delaware 90-1005472 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 333 Clay Street, Suite 1600 FORM 10-Q ________________________________________________________________________________________________________________________________ ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES E ...

Financial Data and Key Metrics - The company reported Q1 2024 adjusted EBITDA of $718 million, reaffirming its 2024 adjusted EBITDA guidance range of $2.625 billion to $2.725 billion [43][47] - The company expects to generate $1.55 billion of adjusted free cash flow in 2024, including $110 million from bolt-on acquisitions, with $1.15 billion allocated to common and preferred distributions [27] - The NGL segment remains highly hedged with frac spreads at approximately $0.65 per gallon for 2024 [27] Business Line Data and Key Metrics - The Permian long-haul portfolio has seen increased contract volumes and extended terms, with a weighted-average contract duration of approximately five years, extending through 2028 [14] - The company expects Permian production to grow by 200,000 to 300,000 barrels per day in 2024, with growth weighted towards the second half of the year [43][80] - The company acquired an additional 10% in the Saddlehorn Pipeline Company LLC and the Mid-Con Terminal asset for $110 million, expected to generate returns above the weighted-average cost of capital [42] Market Data and Key Metrics - The company noted that the movement of barrels to the West Coast could create opportunities for its Mid-Continent pipelines [1] - The company expects the Permian Basin to grow by 200,000 to 300,000 barrels per day, with growth disproportionately coming from the Delaware Basin [81] - The company highlighted potential gas constraints in 2026 but expects new pipelines to be sanctioned, mitigating long-term impacts [51][59] Company Strategy and Industry Competition - The company remains focused on capital discipline, generating free cash flow, and returning capital to investors, with a multiyear targeted annual distribution increase of $0.15 per unit [31][34] - The company has re-contracted its Permian long-haul capacity, offering better visibility and clarity around contractual support, with rates consistent with market levels [10][32] - The company is actively monitoring its hedging profile and is being opportunistic, with minimal forward hedging due to low liquidity [20][69] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in meeting 2024 guidance, citing strong Q1 performance and bolt-on acquisitions, but remains cautiously optimistic about increasing guidance [38][39] - The company expects flat adjusted EBITDA in 2026 compared to 2024, driven by lower contracted rates offset by efficient growth investments [32][41] - Management highlighted the importance of maintaining flexibility in long-haul contracts to capture higher margins from uncontracted capacity over time [32][78] Other Important Information - The company plans to self-fund $375 million in growth capital and $230 million in maintenance capital in 2024, consistent with February guidance [13] - The company noted that weather-related challenges in Q1 impacted Permian volumes, but recovery has been in-line with expectations, with no change to the full-year outlook [50][101] - The company sees opportunities in the Canadian market, particularly with the startup of TMX, which could lead to more tariff-based opportunities and less market-based opportunities [66][88] Q&A Session Summary Question: Why not increase 2024 guidance given strong Q1 performance and bolt-on acquisitions? - Management stated it is early in the year and remains confident in meeting the current guidance range, with a cautiously optimistic outlook [38][39] Question: Are contract extensions for Cactus II and Sunrise/Basin consistent with prior rates? - The extensions were associated with existing contract options, and rates were consistent with prior levels [15][40] Question: How is the company thinking about hedging strategy for 2025? - The company is actively monitoring its hedging profile but is not currently hedging forward due to low liquidity and backwardated markets [20][69] Question: What is the impact of the Permian re-contracting on long-term capital allocation? - The capital allocation strategy remains unchanged, with a focus on high-return bolt-on acquisitions and maintaining financial flexibility [75] Question: How is the company managing gas constraints in 2026? - The company expects new pipelines to be sanctioned, mitigating long-term impacts, and sees potential upside from oilier areas in low gas price environments [51][59] Question: What is the outlook for Permian production growth in 2024? - The company expects 200,000 to 300,000 barrels per day of growth, with a back-half weighted ramp [43][80] Question: How is the startup of TMX impacting Canadian assets? - The company expects short-term blips but long-term benefits, with more tariff-based opportunities and potential for increased Canadian production [88][94]

Exhibit 99.1 Plains All American Reports First-Quarter 2024 Results Provides Update on Permian Long-Haul Contracting & Announces Bolt-on Acquisitions Houston, TX – May 3, 2024 – Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today reported first-quarter 2024 results and reaffirmed full-year 2024 Adjusted EBITDA guidance. Plains also provided updates on Permian long-haul contracting and announced two bolt-on acquisitions. First-Quarter Results • Reported Net income att ...

Energy Extraction On America's Plains Ramon Cliff/iStock Editorial via Getty Images It is not too late to initiate a position in Plains GP Holdings, L.P. Class A (NASDAQ:PAGP), despite doubling the return of the S&P 500 over the past year. This large, high-quality MLP has produced a trailing 12-month total return over 40% compared to the S&P 500's 22% as of the end of April. Future performance may not be as vigorous but, ample cash flow and management's commitment to future distribution growth, suggest PAGP ...

Table of Contents Index to Financial Statements UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-36132 ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR PLAINS GP HOLDINGS, L.P. (Exact name of registrant as specified in its charter) Delaware 90-1005472 (State or other ...

Plains GP Holdings, L.P. (NASDAQ:PAGP) Q4 2023 Earnings Conference Call February 9, 2024 10:00 AM ET Company Participants Blake Fernandez - Vice President of Investor Relations Willie Chiang - Chief Executive Officer Al Swanson - Chief Financial Officer Jeremy Goebel - Chief Commercial Officer Conference Call Participants Michael Blum - Wells Fargo& Company Brian Reynolds - UBS Group AG Keith Stanley - Wolfe Research, LLC Jean Ann Salisbury - Sanford C. Bernstein & Co. Neel Mitra - Bank of America Sunil Sib ...

▪ This presentation also contains non-GAAP financial measures relating to PAA, such as Adjusted EBITDA attributable to PAA, Implied DCF and Adjusted Free Cash Flow measures. A reconciliation of these historical measures to the most directly comparable GAAP measures is available in the Investor Relations section of PAA's and PAGP's website at www.plains.com, select "PAA" or "PAGP," navigate to the "Financial Information" tab, then click on "Non-GAAP Reconciliations." PAA does not provide a reconciliation of ...