Plains All American Pipeline Announces Quarterly Distributions for Q3 2023

Houston-based energy infrastructure and logistics companies, Plains All American Pipeline, L.P. (PAA) and Plains GP Holdings (PAGP), have recently announced their quarterly distributions for the third quarter of 2023. These distributions are set to provide value to their respective security holders and reinforce their commitment to delivering consistent returns.

PAA has declared a quarterly cash distribution of $24.88 per Series B Preferred Unit, payable on November 15, 2023, to holders of record at the close of business on November 1, 2023. This distribution highlights PAA’s dedication to providing attractive returns to its investors.

Furthermore, PAGP has stated that the cash distribution per Class A Share is expected to be a non-taxable return of capital, reducing the tax basis for Class A Shareholders. Any excess cash distribution beyond the tax basis is anticipated to be taxable as a capital gain. PAGP aims to ensure that its shareholders can benefit from the distributions in a tax-efficient manner.

Both PAA and PAGP are publicly traded entities with a strong presence in the energy industry. PAA, a master limited partnership, owns and operates midstream energy infrastructure, offering logistics services for crude oil and natural gas liquids. With an extensive network of pipeline gathering and transportation systems, PAA plays a vital role in the energy supply chain, serving key producing basins, transportation corridors, and major market hubs in the United States and Canada.

PAGP, on the other hand, holds an indirect, non-economic controlling general partner interest in PAA, making it a significant player in the energy infrastructure and logistics sector. As one of the largest companies in North America in this domain, PAGP ensures its shareholders can benefit from PAA’s operations and success.

The distributions announced by PAA and PAGP demonstrate their commitment to generating value for their investors and maintaining their position as industry leaders. By providing consistent returns and optimizing tax efficiency, both companies aim to enhance shareholder confidence and strengthen their market presence.

For more information about Plains All American Pipeline, L.P. and Plains GP Holdings, please visit their website at www.plains.com.

Contact:
Investor Relations
Blake Fernandez
Michael Gladstein
Phone: (866) 809-1291