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MAY 2025 Investor Presentation
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FORWARD-LOOKING INFORMATION To provide readers with information regarding Keyera, including its assessment of future plans, operations and financial performance, certain statements contained herein contain forward-looking information within the meaning of applicable Canadian securities legislation (collectively, “forward-looking information”). Forward-looking information relate to future events and/or Keyera’s future performance. Forward-looking information are predictions only; actual events or results may differ materially. Use of words such as “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “plan”, “intend”, “believe”, and similar expressions (including negatives thereof), is intended to identify forward-looking information. All statements other than statements of historical fact contained herein are forward-looking information, including, without limitation, statements regarding Keyera’s future financial position and operational performance and future financial contributions from its business segments, including but not limited to, Keyera’s Marketing guidance for 2025 annual base realized margin of between $310 million and $350 million, estimates for 2025 regarding Keyera’s growth capital expenditures, maintenance capital expenditures and cash taxes; future years‘ guidance and statements on estimated CAGR; the development and timing of future growth projects, including the debottleneck of KFS Frac II, KAPS Zone 4, KFS Frac III, and returns from such projects; the impact of current and future growth projects on Keyera’s CAGR; financial and capital targets and priorities; Keyera’s vision, business strategy and plans of management; anticipated growth and proposed activities; future opportunities, expected capacities associated with capital projects; expected sources of and demand for energy and associated demand for capacity at Keyera’s existing assets, and future expansion opportunities; expected basin growth; estimated utilization rates; Keyera’s plans for allocating capital, including with respect to growth capital investment, dividend growth and share repurchases under Keyera’s normal course issuer bid; Keyera’s decarbonization strategies, including the implementation and effectiveness of the same and ability to attain stated emissions intensity reduction targets; and expected commodity prices and production levels, including condensate and NGL production growth. Forward-looking information reflect management’s current beliefs and assumptions with respect to such things as outlook for general economic trends, industry forecasts and/or trends, commodity prices, capital markets, and government, regulatory and/or legal environment, and potential impacts thereof. In some instances, forward-looking information may be attributed to third party sources. Management believes its assumptions and analysis are reasonable and that expectations reflected in forward-looking information contained herein are also reasonable. However, Keyera cannot assure readers these expectations will prove to be correct, and differences could be material. All forward-looking information involve known and unknown risks, uncertainties and other factors that may cause actual results, events, levels of activity and achievements to differ materially from those anticipated in the forward-looking information. The principal risks, uncertainties, and other factors affecting Keyera and its business are contained in Keyera’s Management’s Discussion and Analysis for the year ended December 31, 2024 and in Keyera’s Annual Information Form, each available on Keyera’s profile on SEDAR+ at www.sedarplus.ca and available on Keyera’s website at www.keyera.com. Investor Presentation 2 Proposed construction and completion schedules and budgets for capital projects are subject to many variables, including weather; availability of and/or prices of materials and/or labour; customer project schedules and expected in-service dates; contractor productivity; contractor disputes; quality of cost estimating; decision processes and approvals by joint venture partners; changes in project scope at the time of project sanctioning; legislation and regulations and regulatory and other approvals, conditions or delays (including possible intervention by third parties); Keyera’s ability to secure adequate land rights and water supply; and macro socio-economic trends. As a result, expected timing, costs and benefits associated with these projects may differ materially from descriptions contained herein. Further, some of the projects discussed herein are subject to securing sufficient producer/customer interest and may not proceed, or proceed as expected, if sufficient commitments are not obtained. Typically, the earlier in the engineering process that projects are sanctioned, the greater the likelihood that the schedule and budget may change. In addition to factors referenced above, Keyera’s expectations with respect to future returns associated with certain growth capital projects recently sanctioned or not yet sanctioned are based on a number of assumptions, estimates and projections developed based on past experience and anticipated trends, including but not limited to: sanction of such projects; capital cost estimates assuming no material unforeseen costs; timing for completion of growth capital projects; customer performance of contractual obligations; reliability of production profiles; commodity prices, margins and volumes; tax and interest and exchange rates; availability of capital at attractive prices; and no changes in legislative, regulatory or approval requirements, including no delay in securing any outstanding regulatory approvals. This Presentation includes historical, current, and forecast market and industry data that has been obtained from third party or public sources. Although management of Keyera believes such information to be reliable, none of such information has been independently verified by Keyera. All forward-looking information contained herein are expressly qualified by this cautionary statement. Readers are cautioned they should not unduly rely on this forward-looking information and that information contained in such forward-looking information may not be appropriate for other purposes. Further, readers are cautioned that the forward-looking information contained herein is made as of February 13, 2025. Unless required by law, Keyera does not intend and does not assume any obligation to update any forward-looking information. Further information about the factors affecting forward-looking statements and management’s assumptions and analysis thereof, is available in filings made by Keyera with Canadian provincial securities commissions, which can be viewed on SEDAR+ at www.sedarplus.ca.
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NON-GAAP AND OTHER FINANCIAL MEASURES This presentation refers to certain financial and other measures that are not determined in accordance with Generally Accepted Accounting Principles (GAAP), such as: EBITDA, adjusted EBITDA, distributable cash flow (DCF), DCF per share, payout ratio, return on invested capital (ROIC), compound annual growth rate (CAGR) for DCF per share, CAGR for dividends per share, CAGR for fee-based adjusted EBITDA, and realized margin (including fee-for-service realized margin, which is realized margin for the Gathering and Processing and Liquids Infrastructure segments, and non fee-for-service realized margin, which is realized margin for the Marketing segment). As a result, these measures may not be comparable to similar measures reported by other entities. Management believes that these non-GAAP and other financial measures facilitate the understanding of Keyera’s results of operations, leverage, liquidity and financial position. These measures do not have any standardized meaning under GAAP and therefore, should not be considered in isolation, or used in substitution for measures of performance prepared in accordance with GAAP. For additional information regarding the composition of these measures, how management utilizes them, and where applicable, a reconciliation of Keyera’s historical non-GAAP financial measures to the most directly comparable GAAP measures, refer to Management’s Discussion and Analysis (MD&A) for the period ended December 31, 2024, which is available on SEDAR+ at www.sedarplus.ca and Keyera’s website at www.keyera.com. Specifically, the sections of the MD&A titled “Non-GAAP and Other Financial Measures”, “Segmented Results of Operations”, “EBITDA and Adjusted EBITDA”, “Dividends: Funds from Operations, Distributable Cash Flow and Payout Ratio”, and “Adjusted Cash Flow from Operating Activities and Return on Invested Capital”, include information that has been incorporated by reference for these non-GAAP and other financial measures. Base realized margin for the Marketing segment represents Keyera’s expectation of what the Marketing segment will contribute on average in a typical year. The 2025 realized margin guidance for the Marketing segment represents Keyera’s expectation of what the Marketing segment will generate in 2025. It is intended to be an annual-specific update to the base realized margin guidance for the Marketing segment and takes into consideration: i) year-to-date performance of the Marketing segment, and ii) the annual negotiation process for the natural gas liquids (“NGLs”) supply agreements that became effective on April 1st. Material factors and assumptions associated with the annual base and 2025 realized margin guidance for the Marketing segment can be found in the sections titled “Segmented Results of Operations: Marketing” and “Forward-Looking Statements” of the MD&A for the period ended March 31, 2025, which is available on SEDAR+ at www.sedarplus.ca and Keyera’s website at www.keyera.com. 3Investor Presentation
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$1.10 $2.04 $1.53 $1.43 $1.31 $1.84 $2.37 $2.84 $2.56 $2.70 $3.08 $2.77 $3.26 $3.03 $2.95 $3.73 $3.36 $0.85 $0.90 $0.90 $0.96 $1.03 $1.13 $1.26 $1.42 $1.54 $1.65 $1.73 $1.85 $1.92 $1.92 $1.92 $1.96 $2.04 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2.2x 1.2x 1.9x 2.0x 2.0x 2.0x 2.2x 2.3x 2.5x 2.3x 2.6x 2.2x 2.9x 2.4x 2.5x 2.2x 2.0x COMMODITY PRICE COLLAPSE FINANCIAL CRISIS COVID-19 PANDEMIC Investor Presentation 4 Benefitting from Basin Growth One of the only two fully-integrated liquids infrastructure platforms servicing decades of visible liquids-rich Montney and Duvernay resource play growth Financial Strength and Discipline Demonstrated history of creating shareholder value through preserving balance sheet strength, investing to grow DCF 1,2 per share and sustainably growing dividends per share High Quality, High Barrier- To-Entry Assets Nearly impossible to replicate, fully integrated asset base built over decades, enabling customers to access high-value markets Rich Inventory of Capital Efficient Growth Projects Deep inventory of high-quality, self- funded organic growth opportunities that enable continued compounding of returns to drive growth in DCF1,2 and dividends per share Net Debt to Adjusted EBITDA 4 Dividend/sh DCF/sh1,2 Maintained Strong Balance Sheet 7% DCF/sh CAGR1,2 (since ’08) 6% Dividend/sh CAGR1,3 (since ’08) See slide 19 for notes regarding this slide Why Invest In Keyera? A Long History of Delivering Shareholder Value by Leveraging Our Asset Base and Exercising Financial Discipline
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0.98 1.07 1.37 1.48 1.81 2.09 2.10 2.34 4.10 5 Long-Term Volume Growth Supported By New Basin Egress Canada’s World Class Energy Resource One of the world’s largest holders of oil & gas reserves One of the lowest cost producers of energy Advantaged access to world markets Amongst the most responsibly produced energy Canadian Plays Amongst The Lowest Supply Cost Source: Peters & Co. Limited YEARS TO REACH WELL PAYOUT @US$60/B WTI, US$12.85/B WCS/WTI Differential, US$3.85/Mcf NYMEX and C$3.55/Mcf AECO prices. Canada U.S. ALBERTA DUVERNAY 77 Tcf 298 Bbbl OIL SANDS MONTNEY 449 Tcf CONVENTIONAL & DEEP BASIN GAS 197 Tcf Woodfibre LNG LNG Canada RIPET Cedar LNG Coastal Gas Link +2.1 Bcf/d NGTL West Gate +0.2 Bcf/d BRITISH COLUMBIA Source: Canada Energy Regulator (as of May 2024), Peters & Co. Limited, and company disclosures ENB Mainline +300 Mbbl/d Data Centre +0 - 3 Bcf/d Inter-Basin +1 Bcf/d Ksi Lisims LNGREEF LNG Canada Phase II NGTL East Gate +0.6 Bcf/d Express Platte +30 Mbbl/d Announced Proposed TMX Expansion +250 Mbbl/d TMX +590 Mbbl/d
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0 100 200 300 400 500 600 700 800 900 2018 2019 2020 2021 2022 2023 2024 2025E 2026E 2027E 2028E Condensate/NGL Production (mbbl/d) AB Montney Duvernay BC Montney Keyera Benefits From Expected Basin Growth 6 Strategically Located Fully-Integrated Assets Condensate and NGL Production Growth from Montney and Duvernay Forecast Source: Peters & Co. Limited (as of December 2024) 4.0 4.2 4.4 4.6 4.8 5.0 5.2 5.4 5.6 14 16 18 20 22 24 26 2018 2019 2020 2021 2022 2023 2024 2025E 2026E 2027E 2028E 2029E 2030E Oil Production (MBbl/d) Gas Production (Bcf/d) Gas (LHS) Oil (RHS) Forecast Oil & Gas Production Forecast for Western Canada (Proposed)
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Focused on Maximizing Customer Netbacks Delivering Energy Infrastructure Solutions Investor Presentation 7 Natural Gas (C1) Crude Oil Iso-Octane (iC8) Condensate (C5+) Propane (C3) Butane (C4) West Coast Export US and International Markets Low-emissions energy source energy security Ethane (C2) + Medical grade plastic, sterile packaging Light weighting automotive, food packaging, heating Lower intensity solvents, oil sands ESG targets Environmental standards, clean burning engines Oil sands diluent Growth in world energy demand, energy security Fee-For-Service Infrastructure Marketing Demand Drivers
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2024 2025E 2026E 2027E 2024 2025E 2026E 2027E Supported by Continued Filling of Available Capacity and Capital Efficient Growth Projects Fee-Based Adjusted EBITDA1 CAGR of 7-8% from 2024 to 2027 ~$350 to $450 million of average annual growth capital (’26 - ’27) Investor Presentation 8 Continued filling of Simonette Liquids growth opportunity at Rimbey Continued ramp up of KAPS Continued filling of condensate storage, FSCS and Norlite Filling Available Capacity Fee-based Adj. EBITDA1 ($MM) See slide 19 for notes regarding this slide Capital Efficient Growth Projects KAPS Zone 4 KFS Frac III KFS Frac II Debottleneck Continued filling of Wapiti Sanctioned Growth Projects
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9 Continued Momentum in 2025 Making Meaningful Progress Toward our Growth Target Sanctioned Frac II Debottleneck • Additional 8,000 bpd of frac capacity from Frac II • Expected ISD in mid-2026 • Construction to begin this summer Signed Commercial Agreements with AltaGas • Expands market access and diversification for customers • Efficiently extends Keyera’s value chain • Provides contractual support for growth projects North G&P Contracting Success • Signed new integrated contracts at Wapiti and Simonette • Wapiti expected to reach effective capacity in 2026, one year earlier than expected • Modest incremental capital needed to fill remaining available capacity Sanctioned KFS Frac III • New frac adds 47,000 bpd of frac capacity • Expected ISD in 2028 • Secured significant contractual support KAPS Zone 4 • 85 km KAPS expansion; expected ISD in late 2027 • Commercial discussions nearing completion
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Preview of Select Future Investment Opportunities Extending Growth Beyond 2027 Liquids Extraction Opportunities Expanding North Region Gathering & Processing Capacity Expanding Rail and Logistics Capabilities AEF Debottleneck 10 Development of Conventional Energy and Low- Carbon Hub at Josephburg Investor Presentation Additional Frac Capacity
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Leveraging the Integrated Platform Margin Growth From Capital Efficient Growth Projects Investor Presentation 11 GAS PLANTS ALBERTA ENVIROFUELS CONDENSATE SYSTEM Oil Sands Diluent Supply KEYERA FORT SASKATCHEWAN KAPS and Keylink EthaneC2 Propane Butane Condensate Iso-Octane C3 C4 C5+ iC8 Rimbey Liquids Growth Filling Wapiti Filling Simonette North Region Gas Processing Capacity Expansion Filling KAPS KAPS Zone 4 KFS Frac II Debottleneck KFS Frac III Condensate Handling Systems Growth Gas Liquids Extraction Rail and Logistics Expansions Low-Carbon Services Hub AEF De-Bottleneck Spec NGL Transportation Spec NGL Transportation
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Investor Presentation 12 Marketing – A Physical Business Connecting Customers to High-Value Markets DESTINATIONS Eastern Canada West Coast Canada Oil Sands Bakken Conway US Gulf Coast US Midwest US West Coast PRODUCTS Ethane (C2) Propane (C3) Butane (C4) Condensate (C5+) Crude Iso-octane (iC8) PRODUCTS Natural Gas Liquids (NGLs) RAIL TRUCK PIPELINE Consistently Delivering Above Peer Average ROIC Marketing Cash Flow Reinvested to Accelerate Fee-For-Service Growth Growing Marketing segment cash contribution Reinvest to grow stable, long-term fee-for-service cash flow More volumes available to market Source: Scotiabank See slide 19 for notes regarding this slide Peer Average ROIC1 Keyera ROIC2 Marketing – A Unique Differentiator Generating Superior Returns, Accelerating Fee-For-Service Growth 0% 5% 10% 15% 20% 2018 2019 2020 2021 2022 2023 2024
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Allocating Capital to the Most Value-Accretive Opportunities Investor Presentation 13 FINANCIAL FRAMEWORK & CAPITAL ALLOCATION TARGET NEAR-TERM CONTEXT Preserve Financial Strength and Flexibility Credit Ratings BBB • Maintain investment grade credit rating • Preserve financial strength 2.0x net debt to adjusted EBITDA1 (Q1 ’25)Net Debt / Adjusted EBITDA1 2.5x - 3.0x Invest for Margin Growth and Cash Flow Stability Corporate ROIC 2 >12% • Invest to further strengthen integrated value chain • Corporate ROIC2 was 16% as at YE ’24 • Annual growth capital spending from 2026 to 2027 expected to average $350 to $450 million and be equity self-funded Increasing Cash Returns to Shareholders Dividend Payout Ratio 2 50% - 70% • Sustainable dividend increases supported by growth in fee-based adjusted EBITDA2 and DCF2,3 per share • Dividend payout ratio2 was 61% as at YE ’24 Share Buybacks Use Opportunistically • Balance disciplined growth investments with opportunistic share buybacks See slide 19 for notes regarding this slide Keyera Pipestone Gas Plant
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$264 $230 $400 $667 $75 $400 $400 $250 $600 $350 2025 2026 2027 2028 2029 2030 2032 2054 2079 2081 TERM DEBT MATURITY BEYOND 2030 Well Positioned to Pursue and Equity Self-Fund Growth Opportunities Investor Presentation 14 2.0x net debt to adjusted EBITDA1 at Q1/25 Investment grade credit ratings • S&P Global: Affirmed, BBB/Stable • DBRS Limited: Affirmed, BBB/Stable Total liquidity of $1.6B at Q1/25 with: • Nil drawn on $1.5B credit facility • $106 MM cash on hand All term debt at fixed rates See slide 19 for notes regarding this slide Solid Financial Position TERM DEBT MATURITIES (C$MM)2 (excludes drawings under revolver) MATURITY YEAR
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Investor Presentation 15See slide 19 for notes regarding this slide High-Quality Cash Flow Investment Grade Non Investment Grade 67% 33% 71% 29% Non Take-or-Pay Take-or-Pay Fee-for-Service Non Fee-for-Service 48% 52% Revenue Break-Down (by customer type) Total Realized Margin1 Break-Down Fee-for-Service Realized Margin1 Break-Down 2024 Cash Flow Composition
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2025 Guidance Investor Presentation 16 $300-$330 MM FY 2025 Growth Capital Expenditures $70-$90 MM FY 2025 Maintenance Capital Expenditures 7%-8% CAGR (’24 - ’27) Fee-Based Adjusted EBITDA1 $100-$110 MM FY 2025 Cash Taxes $310-$350 MM 2025 Marketing Realized Margin1 Guidance See slide 19 for notes regarding this slide
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Meaningful Emissions Reduction1 • Emission intensity lowered by 21% from 2019 to 2023 • Absolute emissions down by 5% from 2019 to 2023 Diverse Leadership and Independent Board • 50% female SVPs • 100% independent board members2 • 40% female independent board directors Strong Corporate Governance • 98% average Say on Pay voting result (2024 AGM) • Compensation linked to ESG performance Transparent and Decision Useful Disclosures • Scope 1 & 2 emissions data third-party verified • Published 2023 Sustainability and Climate Report Investor Presentation 17 Ensuring Long-Term Business Sustainability Our Sustainability Progress ESG Rating of AAA Upgraded from AA to AAA in 2024 GHG Reduction Targets and Pathways GHG Targets3 Using 2019 as our baseline, we have committed to reduce our scope 1 & 2 equity-based emissions intensity by: See slide 19 for notes regarding this slide Top 3rd Percentile Listed as a Top-Rated ESG Company for Refiners & Pipelines in 2025 Climate Score of B Recognized for strong governance, targets, and emissions reductions Canada’s Top 100 Employers for 2025 Alberta’s Top 80 Employers for 13 consecutive years
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$1.10 $2.04 $1.53 $1.43 $1.31 $1.84 $2.37 $2.84 $2.56 $2.70 $3.08 $2.77 $3.26 $3.03 $2.95 $3.73 $3.36 $0.85 $0.90 $0.90 $0.96 $1.03 $1.13 $1.26 $1.42 $1.54 $1.65 $1.73 $1.85 $1.92 $1.92 $1.92 $1.96 $2.04 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2.2x 1.2x 1.9x 2.0x 2.0x 2.0x 2.2x 2.3x 2.5x 2.3x 2.6x 2.2x 2.9x 2.4x 2.5x 2.2x 2.0x COMMODITY PRICE COLLAPSE FINANCIAL CRISIS COVID-19 PANDEMIC Investor Presentation 18 Benefitting from Basin Growth One of the only two fully-integrated liquids infrastructure platforms servicing decades of visible liquids-rich Montney and Duvernay resource play growth Financial Strength and Discipline Demonstrated history of creating shareholder value through preserving balance sheet strength, investing to grow DCF 1,2 per share and sustainably growing dividends per share High Quality, High Barrier- To-Entry Assets Nearly impossible to replicate, fully integrated asset base built over decades, enabling customers to access high-value markets Rich Inventory of Capital Efficient Growth Projects Deep inventory of high-quality, self- funded organic growth opportunities that enable continued compounding of returns to drive growth in DCF1,2 and dividends per share Net Debt to Adjusted EBITDA 4 Dividend/sh DCF/sh1,2 Maintained Strong Balance Sheet 7% DCF/sh CAGR1,2 (since ’08) 6% Dividend/sh CAGR1,3 (since ’08) See slide 18 for notes regarding this slide Why Invest In Keyera? A Long History of Delivering Shareholder Value by Leveraging Our Asset Base and Exercising Financial Discipline
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Slide 4 1. Is not a standard measure under GAAP or is an Other Financial Measure. See slides titled “Non-GAAP and Other Financial Measures” and “Forward-Looking Information” for additional information. 2. Keyera calculates distributable cash flow per share after cash taxes and maintenance capital expenditures. 7% CAGR for distributable cash flow per share is from 2008 to 2024. 3. 6% CAGR for dividend per share is from 2008 to 2024. 4. Net debt to adjusted EBITDA calculation for covenant test purposes excludes 100% of the company’s subordinated hybrid notes. Slide 8 1. Is not a standard measure under GAAP or is an Other Financial Measure. See slides titled “Non-GAAP and Other Financial Measures” and “Forward-Looking Information” for additional information. Slide 12 1. Peer Average ROIC has been prepared by Scotiabank and therefore, has not been calculated in the same manner as the ROIC calculation prepared and disclosed by Keyera in the MD&A for the year ended December 31, 2024. 2. Is not a standard measure under GAAP or is an Other Financial Measure. See slides titled “Non-GAAP and Other Financial Measures” and “Forward-Looking Information” for additional information. Slide 13 1. Net debt to adjusted EBITDA calculation for covenant test purposes excludes 100% of the company’s subordinated hybrid notes. 2. Is not a standard measure under GAAP or is an Other Financial Measure. See slides titled “Non-GAAP and Other Financial Measures” and “Forward-Looking Information” for additional information.3. Keyera calculates distributable cash flow per share after cash taxes and maintenance capital expenditures. Slide 14 All information calculated as of December 31, 2024, unless otherwise stated. 1. Net debt to adjusted EBITDA calculation for covenant test purposes excludes 100% of the company’s subordinated hybrid notes. 2. All US dollar denominated debt is translated into Canadian dollars at its swap rate. Slide 15 Based on 2024 revenues. Counterparty credit ratings on February 13, 2025. Investment Grade includes counterparties who have split-rating which denoted counterparty that has with an investment grade rating by one rating agency and a non-investment grade rating by the other rating agency. Investment Grade also includes secured counterparties who have prepay terms or a posted letter of credit. Counterparties with less than 50% investment grade ratings are considered non-investment grade. Parent's credit rating used when parental guarantees exist. 1. Is not a standard measure under GAAP or is an Other Financial Measure. See slides titled “Non- GAAP and Other Financial Measures” and “Forward-Looking Information” for additional information. Slide 16 1. Is not a standard measure under GAAP or is an Other Financial Measure. See slides titled “Non-GAAP and Other Financial Measures” and “Forward-Looking Information” for additional information. Slide 17 1. Emissions data is equity-based scope 1 & 2 greenhouse gas emissions data. 2. Excludes President & CEO Dean Setoguchi. 3. Emissions data is equity-based scope 1 & 2 greenhouse gas emissions data. Slide 18 1. Is not a standard measure under GAAP or is an Other Financial Measure. See slides titled “Non-GAAP and Other Financial Measures” and “Forward-Looking Information” for additional information. 2. Keyera calculates distributable cash flow per share after cash taxes and maintenance capital expenditures. 7% CAGR for distributable cash flow per share is from 2008 to 2024. 3. 6% CAGR for dividend per share is from 2008 to 2024. 4. Net debt to adjusted EBITDA calculation for covenant test purposes excludes 100% of the company’s subordinated hybrid notes. NOTES Investor Presentation 19
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1-888-699-4853 ir@keyera.com Investor Presentation 20 Dan Cuthbertson General Manager, Investor Relations Katie Shea Senior Advisor, Investor Relations CONTACT INFORMATION WWW.KEYERA.COM Keyera Corp. The Ampersand, West Tower 200 144 – 4th Avenue SW Calgary, Alberta T2P 3N4