Enterprise Products Partners (EPD) Investor presentation summary

Financial strength and capital allocation

• Maintains an A-rated balance sheet with 3.2x leverage and 95% fixed-rate debt, supporting long-term durability and flexibility.

• Returned $63B to unitholders via distributions and buybacks since IPO, with 27 consecutive years of distribution growth.

• $5.3B in major growth capital projects under construction, focusing on NGL infrastructure and export capacity.

• Average return on invested capital of 12% over the last decade, with recent years at 13%.

• 32% of common units owned by management and affiliates, aligning interests with unitholders.

Strategic growth and operational resilience

• Integrated midstream platform spans over 50,000 miles of pipeline and 300 MMBbls of liquids storage.

• Focused on NGLs, with 55% of segment gross operating margin from NGL value chain activities.

• Ongoing expansion in the Permian Basin, including new gas processing plants and pipeline projects through 2027.

• Recent acquisitions in the Midland and Delaware Basins enhance gas gathering, treating, and processing capabilities.

• Export infrastructure expansions include Neches River and EHT LPG terminals, increasing LPG and ethane export capacity.

Cash flow, distributions, and buybacks

• Cash flow per unit has shown resilience through market cycles, with adjusted CFFO/unit up 28.8% since 2019.

• Expanded buyback program to $5B, with $1.6B in repurchases and $5.1B returned to unitholders in TTM 1Q 2026.

• Distribution coverage remains strong, with a history of self-funding equity and eliminating IDRs to reduce cost of capital.

• Distribution growth has been moderated to support financial flexibility and reduce equity issuance.