Enterprise Products Partners L.P.

- No specific mention of new fundraising through debt or equity in the provided content. - As of March 31, 2026, total debt principal outstanding was approximately $34.2 billion, with a weighted average life of 17 years and 95% fixed-rate debt. - Consolidated liquidity stood at approximately $3.3 billion, including credit facilities and unrestricted cash. - The company plans to reinvest growth capital expenditures ($2.3B-$2.6B in 2026; $2B-$2.5B in 2027) and sustaining capital ($580M in 2026) largely from operational cash flow and asset sale proceeds. - Discretionary free cash flow (~$1 billion in 2026) is expected to be allocated to buybacks and debt retirement. - There's no indication of immediate plans for raising new capital via equity or debt issuance.

- Total capital investments in Q1 2026 were $988 million, including $783 million growth capital and $205 million sustaining capital. - Growth capital expenditures for 2026 expected to net $2.3 billion to $2.6 billion after ~$600 million in asset sale proceeds. - 2027 growth capital expenditures anticipated to be $2 billion to $2.5 billion. - Sustaining capital expenditures for 2026 expected at approximately $580 million. - Increased 2026 CapEx by $300 million due to investments in 2 new natural gas processing plants in the Permian. - Commercial teams underwriting more natural gas processing plants in the Permian, trending towards 2 plants per year. - Significant investments recently brought into service include Bahia NGL pipeline, Port Neches terminal and frac, and midstream asset acquisition from Occidental. - Approximately half of 2027 CapEx backlog is not yet committed (between 50%-65%).

- 2026 growth outlook sees modest growth in fee-based EBITDA and cash flows, with a stronger year than initially expected due to favorable commodity prices and spreads. - Two new natural gas processing plants in the Permian, coming online during 2027, expected to be additive to 2027 growth outlook. - CapEx for 2026 increased by $300 million for these new plants, but discretionary free cash flow expected around $1 billion, potentially higher depending on commodity prices and spreads. - Anticipated 3% growth for 2026 and approximately 10% growth in 2027. - Exports, especially ethylene and αLPG, growing with increased shipping volumes (e.g., 3 million barrels of ethylene shipped monthly). - Strong appetite for ethane and LPG, with long-term contracts supporting growth in NGL exports. - Expansion and broadening of product offerings at docks enhance growth opportunities. - Overall positive outlook on sustained operational and volume growth amid improved petrochemical fundamentals.

- Enterprise expects modest growth in 2026 and around 10% growth in 2027, driven by fee-based EBITDA from new assets and acquisitions (Page 9, Page 5). - The addition of 2 new natural gas processing plants in the Permian, coming online in 2027, is expected to be additive to growth projections (Page 5). - 2026 growth is anticipated to be stronger than initially expected due to favorable market fundamentals and commodity price volatility (Page 5, Page 9). - Adjusted EBITDA increased 10% to $2.7 billion in Q1 2026, illustrating strong operational performance (Page 3). - Discretionary free cash flow for 2026 is expected to be in the $1 billion area, supporting capital allocation to buybacks and debt reduction (Page 3). - The company remains confident in steadier income and distribution growth aligned with distributable cash flow per unit (Page 3). - Earnings per common unit rose 6% in Q1 2026 compared to Q1 2025, signaling positive EPS trends (Page 2).

- For 2026, the CapEx backlog details are granular, but about 50% to 65% of 2027 CapEx is not yet spoken for, indicating a significant portion of planned spending is still flexible or pending. - The 2026 growth capital expenditures guide includes anticipated projects under development, including two new natural gas processing plants in the Permian that were recently announced and contributed to increased CapEx. - The guide does not currently account for unannounced projects, but the company is monitoring needs such as potential additional fractionators. - New plant FIDs (Final Investment Decisions) have come earlier than expected due to volume growth. - The company remains focused on disciplined capital allocation, anticipating discretionary cash flow to support buybacks and debt reduction alongside CapEx. - Commercial agreements, including extensions with Exxon, support ongoing project developments.