Investor Relations Presentation EQT Midstream Partners - EQT GP Holdings July 2018 1
Investment Highlights Premier Strong Balance Assets in the Sheet Marcellus / Targeting 3.5x Utica 15% Annual Debt/EBITDA Distribution Growth (EQM) Significant Revenue from Capacity Reservation 1.3x EQM Charges Coverage…
Transmission and Storage Assets Assets Overlay Prolific Nat Gas Plays Equitrans Transmission & Storage 4.4 Bcf/d current capacity 950 mile FERC-regulated interstate pipeline 43 Bcf of gas storage capacity Ohio Valley Connector…
Marcellus Gathering & Water Assets Pennsylvania Asset Map Prolific Greene County, PA dry gas 1,035 MMcf per day firm capacity 10-year demand based fixed-fee contracts 600 MMcf per day high pressure header pipeline for Range…
Ohio Utica Gathering Assets Ohio Gathering Assets Olympus Gathering Dry gas gathering in Core Ohio Utica primarily in Belmont County 68,000 total acreage dedication Q2 2018 throughput of 1.0 Bcf/day Strike Force Gathering…
Growth Strategies Expand Supply Hub Connect Supply and Demand Leverage existing asset footprint to Extend network to connect supply expand Marcellus/Utica supply hub hub to growing demand markets Gathering 6.3 Bcf/d Assets…
Executing Strategy through Organic Growth Backlog 4.8 B Capex Backlog 2018 2019-2022 Gathering NWV Gathering NWV Gathering PA Gathering 2.1 B PA Gathering OH Gathering OH Gathering Water 2018 2019-2022 Header Hammerhead…
Growth Strategy Supply Hub Marcellus / Utica basin becoming the leading supply source in U.S. Marcellus/Utica Supply Growth* Assets Overlay Heart of Marcellus 50 45 40 35 30 Bcf/d 25 20 15 10 5 - 2011 2014…
Growth Strategy Supply Hub Hammerhead Pipeline Project Project Scope Hammerhead Map Gathering header pipeline 55-mile pipeline from Southwestern PA to Mobley WV Aggregate supply from several existing PA gathering systems and…
Growth Strategy Extend Pipeline Network Supply / Demand dynamics creating new opportunities Regional Supply/Demand Balance* Access to Multiple Markets Shifting market dynamics requires new infrastructure solutions EQM assets…
Growth Strategy Extend Pipeline Network Mountain Valley Pipeline Overview Project Map Pipeline to growing natural gas demand market in southeast U.S. 300-mile FERC-regulated pipeline 42 pipe diameter 3.5 - 3.7B total project…
Growth Strategy Extend Pipeline Network MVP Southgate Overview MVP Southgate Map Demand pull pipeline project from MVP 70-mile extension to North Carolina 350 - 500 MM total estimated capital PSNC Energy is anchor shipper Q4 2020…
Strong Cash Flow Profile and Balance Sheet Predictable and growing cash flows driven by strong project returns Highlights Return on Capital Employed** Long-term fixed-fee firm contracts 20% 72% revenue from firm reservation 18%…
Corporate Structure Midstream Separation Post-Separation and Midstream Streamlining Transactions Midstream Streamlining* EQT EQT NewCo Corp. EQT Production LP Units Public Retained Public EQT Production Midstream LP Units…
Investment Highlights Premier Strong Balance Assets in the Sheet Marcellus / Targeting 3.5x Utica 15% Annual Debt/EBITDA Distribution Growth (EQM) Significant Revenue from Capacity Reservation 1.3x EQM Charges Coverage…
APPENDIX 20
EQM Acquired Rice Midstream Partners LP on July 23, 2018 Dry Gas Gathering System in PA RMP Asset Footprint 178 miles of pipeline 85,000 horsepower of compression Q2 2018 throughput of 1.7 Bcf/day 240,000 total acres dedicated in…
EQM Capitalized for Growth Targeting 3.5x Debt to EBITDA Current ratings BBB- (S&P) BBB- (Fitch) Ba1 (Moodys) 1.3x distribution coverage ratio over trailing 12-months 22 Coverage Ratio includes RMP Distributable Cash Flow…
Growth Strategy Extend Pipeline Network Ohio Valley Connector Overview Asset Map Provides Marcellus producers access to Midwest markets Provides Utica producers access to Equitrans transmission system Placed in-service Q4 2016…
Return on Capital Employed Definition EQM 2017 Calculation* Return on Capital Earnings Before Interest and Taxes (EBIT) MM 2017 = Employed Average Capital Employed Net Income 572 Interest 36 Taxes - Capital Employed = Total…
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