Structure Simplification Plan – Equitrans Midstream Corp.

Equitrans Midstream Corp. · Nov 30, 2018 · 7 slides

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Slides

ETRN Structure Simplification Plan Acquiring 100% Ownership of EQGP Exchanging Incentive Distribution Rights for EQM Units November 30, 2018 1
Cautionary Statements Disclosures in this presentation contain certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as…
Transaction Overviews ETRN Private Purchases and Exercising the Limited Call Right ETRN entered into private purchase agreements to acquire certain public EQGP common units for 20.00 per unit in cash After the closing of the private…
Transaction Highlights Efficient path to eliminating structural overhang & providing key benefits for shareholders Increases ownership in EQM to Purchase price represents Transactions do not result in approximately 61%* 17.5%…
Corporate Structure Current Pro-Forma* 91.3% ownership Public 8.7% ownership 12.7% LP ownership 61% ownership Public Non-economic GP 17.9% LP ownership 1.2% GP ownership Public 39% ownership 100% IDR 68.2% LP…
Pro-Forma EQM Highlights Transactions do not result in a distribution cut for unitholders Targeting 6% - 8% annual distribution growth beginning in 2019 2019 distribution coverage in excess of 1.0x Long-term distribution coverage target…
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