Operating

Plains All American Pipeline, L.P.·Cash Flow Statement·38 metrics

Breakdown

Metric	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Net cash from operating activities	$653M	$691M	$727M	$639M	$694M	$817M	$786M	$418M
Depreciation and amortization	$226M	$226M	$226M	$232M	$235M	$230M	$257M	$243M
Net income	$330M	$312M	$119M	$516M	$297M	$529M	$427M	$231M
Deferred income taxes	$0	$4M	$6M	$2M	$3M	$1M	$8M	-$215M
Income (Loss) from Discontinued Operations	$32M	$114M	$74M	$136M	$70M	$76M	$102M	-$103M
Income (Loss) from Discontinued Operations	$32M	$114M	$74M	$136M	$70M	$76M	$102M	-$103M
Net income from discontinued operations	$32M	$114M	$74M	$136M	$70M	$76M	$102M	-$103M
Loss from Discontinued Operations	$32M	$114M	$74M	$136M	$70M	$76M	$102M	-$103M
Income (Loss) from Discontinued Operations, Net of Tax	$32M	$114M	$74M	$136M	$70M	$76M	$102M	-$103M
Distributions from equity method investments	$118M	$133M	$122M	$125M	$131M	$113M	$117M	$97M
Distributions of earnings from equity method investees	$118M	$133M	$122M	$125M	$131M	$113M	$117M	$97M
Share of Profits (Losses) of Related Party	$106M	$97M	$154M	$103M	$94M	$96M	$90M	$89M
Equity in income of investees	$106M	$97M	$154M	$103M	$94M	$96M	$90M	$89M
Income (Loss) from Equity Method Investments	$106M	$97M	$154M	$103M	$94M	$96M	$90M	$89M
Income (Loss) from Equity Method Investments	$106M	$97M	$154M	$103M	$94M	$96M	$90M	$89M
Income (Loss) from Equity Method Investments	$106M	$97M	$154M	$103M	$94M	$96M	$90M	$89M
Equity in earnings (losses) of equity method investees	$106M	$97M	$154M	$103M	$94M	$96M	$90M	$89M
Income (Loss) from Equity Method Investments	$106M	$97M	$154M	$103M	$94M	$96M	$90M	$89M
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital	$30M	—	—	$182M	—	-$158M	—	-$54M
Gain (Loss) on Sale of Assets and Asset Impairment Charges	-$2M	$0	-$157M	$13M	-$42M	$92M	—	$53M
Gain (Loss) on Sale of Assets and Asset Impairment Charges	-$2M	$0	-$157M	$13M	-$42M	$92M	—	$53M
Other non-cash income (expense)	-$29M	-$15M	—	-$19M	-$13M	-$15M	—	-$29M
Other non-cash income (expense)	-$29M	-$15M	—	-$19M	-$13M	-$15M	—	-$29M
Other working capital changes	-$29M	-$15M	—	-$19M	-$13M	-$15M	—	-$29M
Other Non-Cash Income (Expense)	-$29M	-$15M	—	-$19M	-$13M	-$15M	—	-$29M
Other Non-cash Income (Expense)	-$29M	-$15M	—	-$19M	-$13M	-$15M	—	-$29M
Other Non-cash Income (Expense)	-$29M	-$15M	—	-$19M	-$13M	-$15M	—	-$29M
Other non-cash income (expense)	-$29M	-$15M	—	-$19M	-$13M	-$15M	—	-$29M
Other Noncash Income (Expense)	-$29M	-$15M	—	-$19M	-$13M	-$15M	—	-$29M
Other Non-cash Income and Expense	-$29M	-$15M	—	-$19M	-$13M	-$15M	—	-$29M
Other Non-Cash Adjustments	-$29M	-$15M	—	-$19M	-$13M	-$15M	—	-$29M
Other Non-Cash Income and Expense	-$29M	-$15M	—	-$19M	-$13M	-$15M	—	-$29M
Net cash provided by operating activities from discontinued operations	—	$86M	$88M	$210M	$91M	$13M	$170M	$18M
Change in accounts payable	-$14.3M	-$14.3M	-$14.3M	-$83.5M	-$83.5M	-$83.5M	-$83.5M	—
Change in inventories	-$30M	-$30M	-$30M	-$24M	-$24M	-$24M	-$24M	—
Change in receivables	-$19M	-$19M	-$19M	-$51M	-$51M	-$51M	-$51M	—
Gain on investments in unconsolidated entities, net	$0	—	—	$31M	$0	—	—	—
Increase (Decrease) in Accounts and Other Receivables	-$19M	-$19M	-$19M	-$51M	-$51M	-$51M	-$51M	—

Metrics

Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital

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Other Noncash Income (Expense)

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Other Non-cash Income and Expense

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Other Non-Cash Adjustments

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Other Non-Cash Income and Expense

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Income (Loss) from Equity Method Investments

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Loss from Discontinued Operations

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Income (Loss) from Discontinued Operations, Net of Tax

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Operating

Breakdown

Metrics

Other non-cash income (expense)

Share of Profits (Losses) of Related Party

Other non-cash income (expense)

Change in accounts payable

Change in inventories

Other working capital changes

Change in receivables

Deferred income taxes

Depreciation and amortization

Equity in income of investees

Distributions from equity method investments

Income (Loss) from Discontinued Operations

Gain (Loss) on Sale of Assets and Asset Impairment Charges

Income (Loss) from Discontinued Operations

Other Non-Cash Income (Expense)

Other Non-cash Income (Expense)

Income (Loss) from Equity Method Investments

Other Non-cash Income (Expense)

Income (Loss) from Equity Method Investments

Income (Loss) from Equity Method Investments

Net cash from operating activities

Net income

Other non-cash income (expense)

Net cash provided by operating activities from discontinued operations

Distributions of earnings from equity method investees

Gain (Loss) on Sale of Assets and Asset Impairment Charges

Gain on investments in unconsolidated entities, net

Net income from discontinued operations

Equity in earnings (losses) of equity method investees

Increase (Decrease) in Accounts and Other Receivables

Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital

Other Noncash Income (Expense)

Other Non-cash Income and Expense

Other Non-Cash Adjustments

Other Non-Cash Income and Expense

Income (Loss) from Equity Method Investments

Loss from Discontinued Operations

Income (Loss) from Discontinued Operations, Net of Tax