Matthew J. Meloy

Chief Executive Officer and Director at Targa Resources

Board

Since March 1, 2020

Age

46 years

Tenure

Joined TRGP in March 2006, held multiple key positions including Director of Corporate Development, Vice President, CFO, and President, and has served as Chief Executive Officer and Director since March 1, 2020.

Also at Targa Resources

DSP

D. Scott Pryor

President - Logistics and Transportation

GCW

G. Clark White

EVP - Operations

GRS

Gerald R. Shrader

EVP, General Counsel, and Secretary

About

Matthew J. Meloy has built an extensive career at Targa Resources Corp. starting in March 2006 when he joined as the Director of Corporate Development, and he has progressed through a series of critical leadership roles over the years.

During his tenure at the company, he advanced from roles in finance and corporate development to positions such as Vice President — Finance and Treasurer, Senior Vice President, Chief Financial Officer, and President. His strategic leadership culminated in being named Chief Executive Officer and Director on March 1, 2020, reflecting his deep operational and strategic expertise.

While personal background details remain limited, his long-standing association with TRGP and his demonstrated proficiency in financial management and capital markets have been instrumental in driving the company's growth. His professional journey, which also includes valuable experience at The Royal Bank of Scotland in the structured finance group, underscores a commitment to excellence and strategic innovation.

$TRGP Performance Under Matthew J. Meloy

Past Roles

Organization	Role	Date Range
Targa Resources Corp. (TRGP)	President of the Company and the General Partner	March 2018 - March 2020
Targa Resources Corp. (TRGP)	Executive Vice President and Chief Financial Officer of the Company and the General Partner	May 2015 - February 2018
Targa Resources Corp. (TRGP)	Treasurer of the Company and the General Partner	Until December 2015
Targa Resources Corp. (TRGP)	Senior Vice President, Chief Financial Officer, and Treasurer of the Company	October 2010 - May 2015
Targa Resources Corp. (TRGP)	Vice President—Finance and Treasurer of the Company	April 2008 - October 2010
Targa Resources Corp. (TRGP)	Director, Corporate Development	March 2006 - March 2008
The Royal Bank of Scotland	Structured Finance Professional (focused on the energy sector)	October 2003 - March 2006

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Salary	$970,475	N/A [N/A]	Base salary for 2023
401(k) and Profit Sharing Plan Contributions	$26,400	N/A	Contributions made in 2023
Life Insurance Premiums Paid by the Company	$3,139	N/A	Premiums paid in 2023

Performance Compensation

Data from FY 2023

Annual Incentive Bonus

Metric	Value and Details
Target Bonus Percentage	175% of base salary
Target Bonus Amount	$1,723,750
Performance Metrics	Financial: Adjusted EBITDA, Distributable cash flow per share, % of G&P volumes with fees <br> Operational: Cost discipline, project and commercial execution <br> Sustainability: ESG factors <br> Safety: Holistic scorecard evaluating incident rates, severity, and process improvements
Payment Schedule	Per the 2023 Annual Incentive Compensation Program
Vesting Schedule	Not applicable – cash awards under the 2010 Stock Incentive Plan
Evaluation Period	2023 performance period as defined in the program
Additional Details	Compensation approved by the Compensation Committee in March 2023

Performance Share Units (PSUs)

Metric	Value and Details
Grant Date	January 19, 2023
Grant Date Fair Value	$128.71 per unit
Grant Date Stock Price (RSUs)	$74.13 (RSU value; PSUs valued separately)
Target PSUs Granted	53,562 units
Maximum PSUs (Cap)	133,905 units
Vesting Date	December 31, 2025
Performance Metric	Total Shareholder Return (TSR) relative to a comparator group (Alerian US Midstream Index)
Payout Thresholds	Below 25th percentile: 0% payout; 25th percentile: 50% payout; 55th percentile: 100% payout; 75th percentile or higher: 250% payout
Additional Details	Includes Dividend Equivalent Rights (DERs) paid in cash upon vesting; payout interpolation applies