• Plains GP Holdings and Plains All American Pipeline completed sale of Plains Midstream Canada to Keyera under a share purchase agreement signed June 17, 2025.
• Net cash proceeds totaled about $3.3 billion, net of adjustments, taxes, and transaction costs.
• Proceeds earmarked for debt repayment and general partnership purposes; leverage expected to move toward middle of 3.25x to 3.75x target range.
• No special distribution expected, with tax impact from divestiture anticipated to be offset by bonus depreciation tied to Cactus III acquisition.
• Transaction exits Canadian NGL operations, leaving Plains positioned as a pure-play crude oil midstream operator.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Plains GP Holdings LP published the original content used to generate this news brief on May 12, 2026, and is solely responsible for the information contained therein.