Plains All American Pipeline (PAA) Proxy filing summary

Board of directors and corporate governance

• Cynthia B. Taylor appointed as an independent Class III director on May 11, 2026, bringing over 30 years of energy industry experience and public company leadership.

• Taylor will serve on the Compensation Committee and the Health, Safety, Environmental and Sustainability Committee.

• Board determined Taylor is independent under Nasdaq and SEC rules, with no family relationships or conflicts of interest.

Executive compensation and say-on-pay

• Taylor will receive an annual cash retainer of $120,000 and an annual phantom Class A Share grant valued at approximately $160,000, vesting after one year.

• Initial compensation may be prorated based on her start date.

Voting matters and shareholder proposals

• Unitholders are not being asked to vote on Taylor's appointment; she is not a nominee for election at the 2026 Annual Meeting.

• No changes to the proxy card or Proposal 1 regarding the election of Class I Directors.