Plains GP Holdings (PAGP) Proxy filing summary

Executive summary

• Board recommends voting FOR Proposal 3, the advisory vote to approve 2025 named executive officer compensation, at the 2026 annual meetings.

• ISS recommended voting against Proposal 3, while Glass Lewis recommended voting for it.

• Board disagrees with ISS's concerns and provides detailed responses to each point.

Voting matters and shareholder proposals

• Proposal 3 seeks shareholder approval of 2025 named executive officer compensation on an advisory basis.

• Board urges shareholders and unitholders to vote FOR Proposal 3 at the 2026 annual meetings.

Board of directors and corporate governance

• Board approved extension of CEO's 2018 Promotional Grant to retain the CEO for up to five additional years and support succession planning.

• Extension intended to ensure stability and continued execution of key strategic initiatives.