Net income attributable to PAGP increased by 152% to $260 million in 2025, up from $103 million in 2024. Total net income rose to $1.686 billion in 2025, compared to $1.070 billion in 2024. The Crude Oil segment's Adjusted EBITDA increased by 3% to $2.344 billion in 2025, driven by higher pipeline tariff volumes, contributions from recent acquisitions, and tariff escalations. The NGL segment reported an Adjusted EBITDA loss of $34 million in 2025, worsening from a $21 million loss in 2024, primarily due to overhead costs not related to the Canadian NGL Business sale. The company is divesting its Canadian NGL Business to Keyera Corp. for approximately CAD$5.15 billion (approximately $3.75 billion USD), with the transaction expected to close around the end of the first quarter of 2026. Proceeds from the Canadian NGL Business sale are expected to be approximately $3.2 billion net, after taxes and expenses, and will be used to reduce leverage. Total investment capital for 2026 is projected to be approximately $440 million ($350 million net to the company's interest), with approximately half allocated to Permian JV assets. Maintenance capital for 2026 is projected at approximately $185 million ($165 million net to the company's interest). Acquisition capital for 2025 totaled $2.729 billion (net to PAA's interest), including the EPIC Crude Oil Pipeline (now Cactus III), Ironwood Midstream, EMG Medallion 2 Holdings, and Black Knight Midstream. A quarterly distribution of $0.4175 per Class A share ($1.67 per Class A share on an annualized basis) was paid for the fourth quarter of 2025.