Company: PAGP
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001104659-25-033938
Chunk: 15

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 15
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, as follows: • Class A shares, which are listed on Nasdaq; • Class B shares, which represent non-economic limited partner voting interests and are privately held by certain legacy investors and management; and • Class C shares, which are also non-economic limited partner voting interests. The Class C shares are held by PAA solely for the purpose of creating a mechanism through which PAA equity holders (other than Plains AAP) can participate in the election of directors of PAGP GP. With respect to the election of directors, the Class A, Class B and Class C shares vote together as a single class. PAGP equity holders vote directly at the PAGP Annual Meeting. PAA equity holders (which include holders of PAA’s publicly held Common units and Series A preferred units) vote indirectly by instructing PAA how to vote the Class C shares that it owns on their behalf at the PAGP Annual Meeting. 8

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In order to receive voting instructions from PAA voting equity holders, PAA holds its annual meeting immediately prior to the PAGP Annual Meeting. The voting instructions received at the PAA annual meeting are “passed through” by PAA by virtue of its voting of the Class C shares at the PAGP Annual Meeting in accordance with such instructions. On a combined basis, as of the Record Date, the voting rights of PAGP and PAA equity holders in connection with the election of directors were allocated as follows:

| ​ | ​ | Voting Class                                                             | ​ | ​ | ​ | Percentage ofOverall VotingRights |   |        |   | ​ | ​ | ​ | Number of VotingShares/Units | ​ | ​ |
| ​ | ​ | PAGP Class A Shares (Nasdaq: PAGP)                                       | ​ | ​ | ​ | ​                                 | ​ | 25.9%  | ​ | ​ | ​ | ​ | 197.7 million                | ​ | ​ |
| ​ | ​ | PAGP Class B Shares                                                      | ​ | ​ | ​ | ​                                 | ​ | 4.6%   | ​ | ​ | ​ | ​ | 35.1 million                 | ​ | ​ |
| ​ | ​ | PAGP Class C Shares                                                      | ​ | ​ | ​ | ​                                 | ​ | ​      | ​ | ​ | ​ | ​ | ​                            | ​ | ​ |
| ​ | ​ | •                                                                        
 On Behalf of PAA Common Un