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Enterprise Products Partners Lp ENTERPRISE PRODUCTS PARTNERS L . P. ANALYST DAY March 4, 2021 Forward-Looking Statements This presentation contains forward-looking statements based on the beliefs of the company, as well as assumptions made by, and information currently available to our management team (including information published by third parties). When used in this presentation, words such as “anticipate,” “project,” “expect,” “plan,” “seek,” “goal,” “estimate,” “forecast,” “intend,” “could,” “should,” “would,” “will,” “believe,” “may,” “scheduled,” “potential” and similar expressions and statements regarding our plans and objectives for future operations, are intended to identify forward-looking statements. Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. You should not put undue reliance on any forward-looking statements, which speak only as of their dates. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expected, including insufficient cash from operations, adverse market conditions, governmental regulations, the possibility that tax or other costs or difficulties related thereto will be greater than expected, the impact of competition and other risk factors discussed in our latest filings with the Securities and Exchange Commission. All forward-looking statements attributable to Enterprise or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained herein, in such filings and in our future periodic reports filed with the Securities and Exchange Commission. Except as required by law, we do not intend to update or revise our forward- looking statements, whether as a result of new information, future events or otherwise. © All Rights Reserved. Enterprise Products Partners L.P. enterpriseproducts.com Page 2 EPD – ANALYST DAY I: Executive Overview Jim Teague Co-Chief Executive Officer Randy Fowler Co-Chief Executive Officer & Chief Financial Officer II: Supply and Demand Fundamentals Tony Chovanec Senior VP, Fundamentals & Commodity Risk Assessment III: Commercial Update Brent Secrest Executive VP & Chief Commercial Officer Chris D’Anna Senior VP, Petrochemical Natalie Gayden Senior VP, Natural Gas Assets Tug Hanley Senior VP, Pipelines and Terminals Brad Motal Senior VP, Liquid Hydrocarbons IV: Financial Update Chris Nelly Executive VP, Finance, Sustainability & Treasurer © All Rights Reserved. Enterprise Products Partners L.P. enterpriseproducts.com Page 3 EXECUTIVE OVERVIEW Jim Teague – Co-CEO Randy Fowler – Co-CEO and CFO Enterprise Products Partners L.P. (NYSE:EPD) NGLs, Crude Oil, Natural Gas, Petrochemicals and Refined Products • ≈50,000 miles of NGL, crude oil, • 21 natural gas processing facilities; Fully integrated natural gas, petrochemicals and 25 fractionators; 11 condensate refined products pipelines distillation facilities; PDH facility; midstream • ≈260 MMBbls of NGL, petrochemical, iBDH facility energy company refined products and crude oil, and • 19 deepwater docks handling NGLs, 14 Bcf of natural gas storage capacity PGP, crude oil and refined products © All Rights Reserved. Enterprise Products Partners L.P. enterpriseproducts.com Page 2 Why EPD? Diversified & built for Market Capitalization: Among highest credit >22 consecutive the long run ≈$47B ratings in midstream space: BBB+ / Baa1 years of Enterprise Value: distribution ≈$77B 2020 Leverage(1): increases Daily Trading Value: 3.5x reported (last 20 days) Geographic, Product ≈$168MM and Market Diversification as of February 22, 2021 Disciplined Allocator of Average 2020 History of unitholder Capital – 2020: Return on Invested Capital(1): alignment through actions & $1.80/unit ownership CFFO Allocation: 12% 4Q 2020 distribution annualized Payout(1) 70% 1.6x distribution coverage Capital investment 51% over the last 10 years 32% of common units (2) $3.0B owned by Funding Capital Investments : 2020 Growth CAPEX CFFO (less distributions) 65% Debt 35% Management $2B buyback in place as of 4Q 2020 (≈$312MM repurchased(3)) (1) For a definition, see appendix (2) Our CFFO for 4Q 2020 was impacted by increased uses of working capital for marketing opportunities (including contango) (3) Through December 31, 2020 © All Rights Reserved. Enterprise Products Partners L.P. enterpriseproducts.com Page 3 Long-Term Capital Allocation Balanced and Disciplined Approach Allocating cash flow with a long-term focus and maintaining 3.5x area leverage Buyback Opportunities Cash • Opportunistic buybacks of Distributions common units • 2020 buybacks were executed • 22 years of consecutive at an average CFFO Yield of distribution growth ≈15% • Continue to increase distribution with solid cash flow coverage Growth Capital Investments • Self-fund growth CAPEX • Targeting ≈12%+ ROIC(1) (1) For a definition, see appendix © All Rights Reserved. Enterprise Products Partners L.P. enterpriseproducts.com Page 4 EPD Earns Fees Delivering Raw Materials Essential to Everyday Life (1)(2) Nat. Gas Ethane Propane Butanes C5+ Crude Oil 3.5 MMBOED 2.3 MMBPD 2.1 MMBPD 1.2 MMBPD 420 MBPD 2.9 MMBPD transported handled handled handled handled handled product & & product volume electric generation heating bottled fuels diluent refinery feedstock heating petchem feedstock cooking gasoline blending gasoline blending ses irect irect propellant petchem feedstock u cooking crop drying d vehicle fuel vehicle fuel refrigerants industrial fuel petchem feedstock petchem feedstock iBDH, HPIB PDH & & Octane refining manufacture cracker Splitters Enhancement cracker activity Isobutylene & Refined ownstream Ethylene Propylene Octane Additives Products d 340 MBPD handled . 110 MBPD handled 50 MBPD handled 570 MBPD handled fertilizer food packaging durable products fuel additives tires gasoline paints prosthetics consumer electronics lubricants synthetic rubber heating oil coatings water pipes strong packaging specialty additives paints kerosene glue medical tubing PPE & pharmaceuticals textiles jet fuel insulation material molded parts sporting goods asphalt textiles carpets specialty chemicals lubricants hygiene products & tools synthetic rubber end uses upholstery detergents films plastics antifreeze helmets rayon diapers nylon resins (1) Estimated handling volumes; all volumes are approximate based on FY 2020 averages with assumptions applied to multi product systems and fractionation volumes (2) Handled volumes are the sum of transportation, fractionation, isomerization, petchem processes, and marine loading volumes, as applicable © All Rights Reserved. Enterprise Products Partners L.P. enterpriseproducts.com Page 5 SUPPLY AND DEMAND FUNDAMENTALS Tony Chovanec – SVP, Fundamentals & Commodity Risk Assessment Fundamental Outlook EPD Supply Forecasts NGL Production Stability and GORs Producer Cash flows Global Balances and Price Trends © All Rights Reserved. Enterprise Products Partners L.P. enterpriseproducts.com Page 2 EPD U.S. PRODUCTION SCENARIOS U.S. Supply Forecast – Crude U.S. Crude Supply Scenarios 15 14 13 12 11 MMBPD 10 9 8 7 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 *High case: Permian and Eagle Ford completions return to pre-Covid level by mid 2023, other plays return to about 67% *Low case: Permian and Eagle Ford completions return to 67% of pre-Covid levels, other plays return to about 50% Source: EPD Fundamentals © All Rights Reserved. Enterprise Products Partners L.P. enterpriseproducts.com Page 4 U.S. Supply Forecast – NGLs U.S. Available NGL Supply Forecast 8 7 6 5 MMBPD 4 3 2 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 Does not include refinery output. Includes all available ethane. Source: EPD Fundamentals © All Rights Reserved. Enterprise Products Partners L.P. enterpriseproducts.com Page 5 U.S. Supply Forecast – Natural Gas U.S. Dry Natural Gas Supply Scenarios 100 95 90 85 80 Bcf/d 75 70 65 60 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 Source: EPD Fundamentals © All Rights Reserved. Enterprise Products Partners L.P. enterpriseproducts.com Page 6 NGLs Flat as Oil Declines Almost No Disruption in NGL Production U.S. Production 16 150 • Increasing Gas to Oil Ratio (GOR) . GOR rises over time in typical oil wells 14 140 . With fewer new wells to offset the rising GOR, overall basin GOR increased 12 130 Oil down 13% . From Nov-19 to Nov-20, oil production fell 13%, gas fell 4%; NGLs up 7% 10 120 • Reduced flaring MMBPD Gas down 4% . Permian: 600 to 300 MMcf/d 8 110 /d . Bakken: 546 to 211 MMcf/d NGLs, NGLs, MMcf . =Additional 500 MMcf/d gas processed 6 100 Gas, Gas, Oil and NGLs up 7% • Newer processing plants . Recovered GPM of C3+ in Texas rose from 4 90 C3+ up 2% 1.97 to 2.14 from Nov-19 to Nov-20 • Increased ethane recovery 2 80 . As demand increased due to the startup of new crackers, ethane production grew 0 70 276 MBPD from Nov-19 to Nov-20 Crude oil NGL C3+ Gas Gross Withdrawals Sources: EPD Fundamentals, EIA and listed company sources © All Rights Reserved. Enterprise Products Partners L.P. enterpriseproducts.com Page 7 U.S. Producers – Significant Cash Flow Upside Above $45/Barrel Producers’ Self-Funding Possible When Oil Prices Exceed $45 Breakeven WTI Price ($/Bbl) $45 $50 $55 $60 $65 U.S. Production (MMBPD) 10.0 10.0 10.0 10.0 10.0 Price Increase $5.0 $10.0 $15.0 $20.0 Net Cashflow Increase @ 66% $3.3 $6.6 $9.9 $13.2 Incremental Cash Flow
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  • February 14, 2006
    Enterprise Products Partners, Enterprise GP Holdings and TEPPCO Partners Reorganize Boards of Directors of General Partners February 14, 2006 HOUSTON--(BUSINESS WIRE)--Feb. 14, 2006--The general partners of Enterprise Products Partners L.P. "Enterprise" (NYSE:EPD), Enterprise GP Holdings L.P. "Enterprise GP" (NYSE:EPE) and TEPPCO Partners, L.P. "TEPPCO" (NYSE:TPP) have announced the reorganization of their respective boards of directors effective immediately. Enterprise Products Partners: Enterprise Products GP, LLC, the general partner of Enterprise, has announced the election of Stephen L. Baum, Richard H. Bachmann, Michael A. Creel, Dr. Ralph S. Cunningham and W. Randall Fowler as directors and the resignations of O. S. "Dub" Andras, W. Matt Ralls and Richard S. Snell from its board of directors. Enterprise GP Holdings: Upon their resignations from the board of Enterprise Products GP LLC, Mr. Andras and Mr. Ralls were elected as directors to the board of EPE Holdings, LLC, the general partner of Enterprise GP. In addition to Mr. Andras and Mr. Ralls, Mr. Bachmann, Mr. Fowler and Robert G. Phillips were also elected to the board of directors of the general partner of Enterprise GP. TEPPCO Partners: Mr. Snell was elected to the board of Texas Eastern Products Pipeline Company, LLC, the general partner of TEPPCO, effective January 6, 2006. Effective February 13, 2006, Mr. Snell resigned from the board of Enterprise Products GP LLC. In addition to Mr. Snell's prior election, Mr. Bachmann, Mr. Creel and Mr. Fowler were also elected to the board of directors of TEPPCO. "I am pleased to add Steve Baum to the Enterprise board.
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