Targa Resources Corp.

Item 7.01 Regulation FD Disclosure. On February 25, 2026, Targa Resources Corp. (the “Company”) issued a news release announcing the pricing of the Offering (as defined below). A copy of the news release is attached hereto, furnished as Exhibit 99.1 and incorporated in this Item 7.01 by reference. The information contained in this Item 7.01, and the accompanying Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of the general incorporation language of any such filing, except as shall be expressly set forth by specific reference in such filing.

Item 8.01 Other Events. On February 25, 2026, the Company and certain of its subsidiary guarantors named therein (the “Subsidiary Guarantors”) entered into an underwriting agreement (the “Underwriting Agreement”) with MUFG Securities Americas Inc., PNC Capital Markets LLC, TD Securities (USA) LLC and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein, pursuant to which the Company agreed to issue and sell $1.5 billion in aggregate principal amount of senior notes (the “Offering”) consisting of (i) $750.0 million in aggregate principal amount of the Company’s 4.350% Senior Notes due 2031 (the “2031 Notes”) and (ii) $750.0 million in aggregate principal amount of the Company’s 6.050% Senior Notes due 2056 (the “2056 Notes” and, together with the 2031 Notes, the “Notes”). The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by the Subsidiary Guarantors. The Underwriting Agreement contains customary representations and warranties by the Company. The Underwriting Agreement also contains customary indemnification and contribution provisions whereby the Company and the underwriters have agreed to indemnify each other against certain liabilities. The Notes were offered and sold under a prospectus supplement and related prospectus filed with the Securities and Exchange Commission pursuant to a shelf registration statement on Form S-3 (File No. 333-286012), as amended. The Notes will be issued pursuant to that certain Indenture, dated as of April 6, 2022 (the “Base Indenture”), to be supplemented by that certain Thirteenth Supplemental Indenture (the “Thirteenth Supplemental Indenture” and, together with the Base Indenture, the “Indenture”) among the Company, the Subsidiary Guarantors and U.S. Bank Trust Company, National Association, as trustee. The 2031 Notes will mature on April 15, 2031. The 2056 Notes will mature on May 15, 2056. Interest on the 2031 Notes will be payable semi-annually in arrears on April 15 and October 15 of each year, beginning on October 15, 2026. Interest on the 2056 Notes will be payable semi-annually in arrears on May 15 and November 15 of each year, beginning on November 15, 2026. Interest on the Notes will accrue from March 2, 2026. The Company may redeem all or a part of the Notes at any time at the applicable redemption prices. Upon the occurrence of an event of default under the Indenture, which includes payment defaults, defaults in the performance of affirmative and negative covenants and bankruptcy and insolvency related defaults, the obligations of the Company under the Notes may be accelerated, in which case the entire principal amount of the Notes would be immediately due and payable. The foregoing description of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to the Underwriting Agreement, a copy of which is filed as Exhibit 1.1 to this Current Report on Form 8-K and incorporated herein by reference. The Company expects to use the net proceeds from the Offering for general corporate purposes, including to repay borrowings under its unsecured commercial paper note program (the “Commercial Paper Program”), to repay other indebtedness, to repurchase or redeem securities or to fund capital expenditures, additions to working capital or investments in its subsidiaries. Certain of the underwriters or their respective affiliates have performed investment banking, financial advisory and commercial banking services for the Company and certain of the Company’s affiliates, for which they have received customary compensation, and they may continue to do so in the future. The Company’s affiliates have entered into, and may in the future enter into, derivative financial transactions with certain of the underwriters or their respective affiliates on terms the Company believes to be customary in connection with these transactions. Certain of the underwriters and/or their respective affiliates are lenders under the Company’s revolving credit facility and/or are dealers under the Commercial Paper Program. Accordingly, to the extent proceeds are used to repay borrowings under the Company’s revolving credit facility and/or the Commercial Paper Program, such underwriters or affiliates may receive a portion of any net proceeds from the Offering.