PLAINS ALL AMERICAN PIPELINE LP

Plains All American Pipeline, L.P. is a publicly traded Delaware limited partnership that provides crude oil midstream services in North America. The company integrates large-scale supply aggregation with the ownership and operation of midstream infrastructure systems, connecting major producing regions to key demand centers and export terminals. Plains All American Pipeline owns an extensive network of pipeline transportation, terminalling, storage, and gathering assets. These assets are located in key crude oil and NGL producing basins, including the Permian Basin, and transportation corridors, as well as at major market hubs in the United States and Canada. In June 2025, the company entered into a definitive Share Purchase Agreement with Keyera Corp. to sell its wholly-owned subsidiary, Plains Midstream Canada ULC, which owns substantially all of its NGL business in Canada (the "Canadian NGL Business"). The cash consideration for this sale is approximately $5.15 billion CAD (approximately $3.75 billion USD), subject to post-closing adjustments. The Canadian NGL Business operations are classified as held for sale and for discontinued operations reporting. Following the sale, which is expected to close around the end of the first quarter of 2026, the company will retain NGL assets located in the United States.