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Plains All American Pipeline Increases Distribution On Limited Partner Units And Provides 2014 Distribution Growth Target

Plains All American Pipeline, L.P. (NYSE: PAA) today announced a quarterly cash distribution of $0.6000 per unit ($2.40 per unit on an annualized basis) on all of its outstanding limited partner units. This distribution represents a 2.1% increase over the distribution of $0.5875 per unit ($2.35 per unit on an annualized basis) paid in August 2013 and a 10.6% increase over the $0.5425 per unit ($2.17 per unit on an annualized basis) paid in November 2012. The distribution will be payable on November 14, 2013 to holders of record at the close of business on November 1, 2013. As of this distribution, PAA will have increased its quarterly distribution to limited partners in 36 out of the past 38 quarters and consecutively in each of the past 17 quarters.

“We are very pleased to announce a distribution increase of 10.6% over the quarterly distribution paid in November 2012, which exceeds our 9%-10% year-over-year distribution growth target established earlier this year,” stated Greg L. Armstrong, Chairman & CEO of Plains All American. “As a result of solid baseline financial performance, strong distribution coverage and expected contributions to cash flow from our organic capital program, we are targeting to deliver an approximate 10% increase in PAA’s distribution rate by November 2014.”

Forward Looking Statements

Except for the historical information contained herein, the matters discussed in this release are forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from results anticipated in the forward-looking statements. These risks and uncertainties include, among other things, failure to implement or capitalize, or delays in implementing or capitalizing, on planned internal growth projects; unanticipated changes in crude oil market structure, grade differentials and volatility (or lack thereof); the successful integration and future performance of acquired assets or businesses and the risks associated with operating in lines of business that are distinct and separate from our historical operations; the occurrence of a natural disaster, catastrophe, terrorist attack or other event, including attacks on our electronic and computer systems; tightened capital markets or other factors that increase our cost of capital or limit our access to capital; maintenance of our credit rating and ability to receive open credit from our suppliers and trade counterparties; continued creditworthiness of, and performance by, our counterparties, including financial institutions and trading companies with which we do business; the effectiveness of our risk management activities; environmental liabilities or events that are not covered by an indemnity, insurance or existing reserves; declines in the volumes of crude oil, refined product and NGL shipped, processed, purchased, stored, fractionated and/or gathered at or through the use of our facilities, whether due to declines in production from existing oil and gas reserves, failure to develop or slowdown in the development of additional oil and gas reserves or other factors; shortages or cost increases of supplies, materials or labor; fluctuations in refinery capacity in areas supplied by our mainlines and other factors affecting demand for various grades of crude oil, refined products and natural gas and resulting changes in pricing conditions or transportation throughput requirements; the availability of, and our ability to consummate, acquisition or combination opportunities; our ability to obtain debt or equity financing on satisfactory terms to fund additional acquisitions, expansion projects, working capital requirements and the repayment or refinancing of indebtedness; the impact of current and future laws, rulings, governmental regulations, accounting standards and statements and related interpretations; non-utilization of our assets and facilities; the effects of competition; interruptions in service on third-party pipelines; increased costs or lack of availability of insurance; fluctuations in the debt and equity markets, including the price of our units at the time of vesting under our long-term incentive plans; the currency exchange rate of the Canadian dollar; weather interference with business operations or project construction; risks related to the development and operation of our facilities; factors affecting demand for natural gas and natural gas storage services and rates; general economic, market or business conditions and the amplification of other risks caused by volatile financial markets, capital constraints and pervasive liquidity concerns; and other factors and uncertainties inherent in the transportation, storage, terminalling and marketing of crude oil and refined products, as well as in the storage of natural gas and the processing, transportation, fractionation, storage and marketing of natural gas liquids discussed in the Partnership's filings with the Securities and Exchange Commission.

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