Slide 1: Q3 2023 Earnings
Q3 2023 Earnings November 1, 2023
Slide 2: Forward-looking Statements / Legal Disclaimer
Forward-looking Statements / Legal Disclaimer Management of Energy Transfer LP (“Energy Transfer” or “ET”) will provide this presentation in conjunction with ET’s 3rd quarter 2023 earnings conference call. On the call, members of management may make statements about future events, outlook and expect
Slide 3: What's New?
What’s New? Operational Financials Strategic NGL transportation and fractionation Updated 2023 Adjusted EBITDA guidance: On October 30, 2023, Crestwood Equity volumes both reached new records in ‒ Expected Adj. EBITDA: $13.5 – $13.6B¹ Partners unitholders voted to approve the Q3’23 merger with
Slide 4: Nationwide Footprint
Nationwide Footprint Expanded operating footprint in oil-weighted basins drives competitive scale and growth opportunities Crestwood Transaction Update Transaction adds strategic assets, Key Crestwood Assets extending Energy Transfer’s footprint • 2.0 Bcf/d gas gathering deeper into the Williston
Slide 5: Growth Through Organic Projects and M&A
Growth Through Organic Projects and M&A Key asset additions since the end of Q3 2022 Woodford Express Gulf Run Pipeline Bear Processing Plant Crestwood Equity Partners • Purchase price of $485mm¹ • (In Service December ’22) • (In Service June ’23) • Valued at $7.1B² • (Closed September ’22) • (Ant
Slide 6: Gulf Run Pipeline
Gulf Run Pipeline Providing An Efficient Gulf Coast Connection Gulf Run Pipeline Unparalleled access to prolific natural gas producing regions in the U.S. Perryville with ability to deliver Haynesville-area gas to Gulf Coast Region Zone 1 (Formerly Line CP): ~200-mile, interstate pipeline with a
Slide 7: Strong Investment Returns With Shorter Cash Cycle
Strong Investment Returns With Shorter Cash Cycle 2023E Growth Capital: ~$2 billion % of 2023E • Bear high-recovery cryogenic processing plant • New treating capacity in the Haynesville Midstream • Efficiency improvements and emissions reduction projects ~40% • Multiple gathering & processing and co
Slide 8: Outlook Supported by Strong Core Business
Outlook Supported by Strong Core Business ET 2023E Adjusted EBITDA $13.5 - $13.6 billion 2022 to 2023 Adjusted EBITDA Drivers 2023E Adjusted EBITDA Breakout + Volume growth on existing assets Commodity + NGL pipeline, frac and export activities Spread1 5-10% 0-5% + Lotus acquisition + Crestwood acqu
Slide 9: Leveraging asset base and expertise to develop projects to reduce environmental footprint
Leveraging asset base and expertise to develop projects to reduce environmental footprint Dual Drive Compressors - Established in 2012 Proprietary technology that allows for switching between electric motors and natural gas engines to drive compressors, and offers the industry a more efficient com
Slide 10: Appendix / Non-GAAP Reconciliations
Appendix / Non-GAAP Reconciliations
Slide 11: Non-GAAP Reconciliation
Non-GAAP Reconciliation Energy Transfer LP Reconciliation of Non-GAAP Measures * 2018 2019 2020 2021 2022 2023 Full Year Full Year Full Year Full Year Full Year Q1 Q2 Q3 Year To Date Net income $ 3,365 $ 4,899 $ 140 $ 6,687 $ 5,868 $ 1,447 $ 1,233 $ 1,047 $ 3,727 Loss from discontinued operations 26
Slide 12: Non-GAAP Reconciliation
Non-GAAP Reconciliation Definitions Adjusted EBITDA and Distributable Cash Flow are non-GAAP financial measures used by industry analysts, investors, lenders and rating agencies to assess the financial performance and the operating results of Energy Transfer's fundamental business activities and sho