Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________ FORM 10-Q ________________________________________________________________________________________________________________________________ ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ...

Financial Performance & Outlook - Q1 2021 Adjusted EBITDA reached $546 million, exceeding Q1 implied guidance by $50 million[5] - Free Cash Flow after Distributions (FCFaD) for Q1 2021 was approximately $511 million[5] - The company increased its 2021 forecasted FCFaD by $100 million to +/-$400 million, or $1.15 billion including targeted asset sales[5] - The company maintained Adjusted EBITDA guidance of +/-$2.15 billion for 2021, with Fee-Based increasing by $25 million and S&L decreasing by $25 million[5] - Further reduced 2021 Investment & Maintenance Capital by $65 million (-10%)[5] Capital Allocation & Debt Reduction - Short-term debt was reduced by approximately $575 million in Q1 2021[5, 20] - The company plans to allocate Free Cash Flow after Distributions in a balanced manner, with more emphasis on debt reduction in the near term and a shift towards equity holders in the longer term[7] - Up to 25% of 2021 FCFaD may be allocated to equity repurchases, with at least 75% allocated to debt reduction[28] Capital Investment & Asset Sales - The company further reduced 2021 Investment & Maintenance Capital by $65 million (10%) compared to February guidance[5, 13] - Targeted 2021 asset sales remain at +/-$750 million[23] - 2022+ Investment Capital is projected to be approximately $200-$300 million[13] - 2022+ Maintenance Capital is expected to be less than $200 million[13] Segment Performance - Transportation segment Adj EBITDA was $388 million in 1Q21[17] - Facilities segment Adj EBITDA was $171 million in 1Q21[17]

Table of Contents Index to Financial Statements UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-36132 PLAINS GP HOLDINGS, L.P. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inc ...

Houston, TX | February 9, 2021 4Q & FY 2020 Earnings Package Index PAA PAGP 2 Conference Call Transcript Conference Call Slides PAA / PAGP Earnings Release and Guidance PAA Non-GAAP Reconciliations Fourth-Quarter 2020 Earnings Conference Call Tuesday, February 9, 2021 Roy Lamoreaux: Thank you, Tulare. Good afternoon, and welcome to Plains All American's fourth- quarter and full-year 2020 earnings conference call. Today's slide presentation, which contains a good deal of supplementary information is posted o ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________ FORM 10-Q ________________________________________________________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHA ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________ FORM 10-Q ________________________________________________________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE A ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________ FORM 10-Q ________________________________________________________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-36132 PLAINS GP HOLDINGS, L.P. (Exact name of registrant as specified in its charter) Delaware 90-1005472 (State or other jurisdiction of incorporation ...

Houston, Texas | February 4, 2020 4Q & FY 2019 EARNINGS CALL Forward-Looking Statements & Non-GAAP Financial Measures Disclosure This presentation contains forward-looking statements, including, in particular, statements about the plans, strategies and objectives for future operations of Plains All American Pipeline, L.P. ("PAA") and Plains GP Holdings, L.P. ("PAGP"). These forward-looking statements are based on PAA's current views with respect to future events, based on what we believe to be reasonable as ...

Investor Presentation December 2019 Forward-Looking Statements & Non-GAAP Financial Measures Disclosure This presentation contains forward-looking statements, including, in particular, statements about the plans, strategies and objectives for future operations of Plains All American Pipeline, L.P. ("PAA") and Plains GP Holdings, L.P. ("PAGP"). These forward-looking statements are based on PAA's current views with respect to future events, based on what we believe to be reasonable assumptions. PAA and PAGP c ...