Tallgrass Updates Development Plan for Terminal in Plaquemines Parish, Louisiana | Financial Buzz

Tallgrass Updates Development Plan for Terminal in Plaquemines Parish, Louisiana

Tallgrass today announced it has begun a comprehensive reappraisal of plans for commercial development of the proposed Plaquemines Liquids Terminal (PLT), a joint development project with Drexel Hamilton Infrastructure Partners in concert with the Plaquemines Port & Harbor Terminal District (PPHTD) in southeast Louisiana.

“Integrity and respect are core Tallgrass values,” said Tallgrass CEO William R. (Bill) Moler. “As part of our PLT permitting process, our cultural survey work identified a cemetery and potential artifacts consistent with what community members shared about the history of the site. Since then, we reduced our development footprint to protect those areas, and engaged with the Ironton community and other local stakeholders on an appropriate path toward memorializing them.”

When PLT and PPHTD entered a lease agreement in 2018 to develop the site, both parties agreed to place a conservation easement on 50 acres adjacent to the historic community of Ironton. This easement remains in place and permanently protects the area from any future industrial or commercial development by Tallgrass or others.

“We will be withdrawing the current air permit application and Memorandum of Understanding with the Coastal Protection and Restoration Authority (CPRA), as they will not reflect the new uses of the site,” Moler added. “Tallgrass will continue to work with CPRA to ensure that any future development on the site is consistent with the State’s Coastal Master Plan.

“Commercial activity at the site can spur job growth and broader economic opportunity for the local communities in Plaquemines Parish, and we have heard support directly from local community members for that sort of development,” said Moler. “We will evaluate a wide range of opportunities other than an oil terminal that can operate within a reduced development footprint at the site. We value the continued support of Governor John Bel Edwards, Plaquemines Parish President Lepine, members of the Parish Council, and the Port. Louisiana has a strong economic development culture, and we look forward to being a part of it.”

About Tallgrass

Tallgrass is a leading energy infrastructure company focused on safely, reliably and sustainably delivering the energy and services that fuel homes and businesses and enable quality of life. We are committed to being at the forefront of efforts to decarbonize our world. Visit Tallgrassenergy.com to learn more.

Cautionary Note Concerning Forward-Looking Statements

Disclosures in this press release contain forward-looking statements. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that management expects, believes, or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include any plans for the development of, and commercial activity at, the PLT site. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Tallgrass, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports and financial statements made available by Tallgrass. Any forward-looking statement applies only as of the date on which such statement is made, and Tallgrass does not intend to correct or update any forward-looking statement, whether because of new information, future events or otherwise, except as required by law.

Contacts

Tallgrass

Media and Trade Inquiries

Phyllis Hammond, 303-763-3568

phyllis.hammond@tallgrassenergylp.com

or

Investor and Financial Inquiries

Andrea Attel, 913-928-6012

investor.relations@tallgrassenergylp.com

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