Hess Midstream Partners LP Investor Relations Presentation February 2019 1
Hess Midstreams Strengths Large Scale Full Service Midstream Provider in the Bakken Strong Sponsors Delivering Targeted 15% Annualized Strategically Located Assets Distribution Per Unit Growth Visible Organic Growth…
Designed to Deliver Growth MLP Platform Built to Deliver Long-Term, Competitive Growth Clear line-of-sight to targeted long-term 15% DPU growth: Delivering Targeted 15% Annual DPU Growth at 1.1x Coverage 1. Visible organic growth…
Hess Bakken Upstream 5
Hess Bakken Upstream Growth Engine Leading Acreage Position Delivering Long-Term Volume Growth Material Position in Premium Tight Oil Play Leading acreage position: 550,000 net acres (Hess 75% WI, operator) Competitive More gross…
Significant Future Production Growth Hess Expects Bakken Net Production to Grow to 200 MBoe/d by 2021 Hess Bakken Net Production1 (MBoe/d) Significant Inventory of High Return Well Locations 20% Number of Locations with IRRs at 15% or…
Hess Bakken Midstream 8
Hess Midstream Partners Execution Track Record . . . Long Term Organic Growth Trajectory Midstream Launch Establish Hess Organic Growth Organic Growth Organic Growth North Dakota Organic Growth Grew 3rd Party Continued System…
Integrated Gas Processing and Gathering Offers Processing and Export Optionality to Hess and Third Parties 350 MMcf/d of Gas Processing Capacity1 Tioga Gas Plant capacity of 250 MMcf/d incl. ethane extraction 60 MBbl/d of NGL…
Integrated Crude Oil Terminaling and Gathering Offers Terminaling and Export Optionality to Hess and Third Parties 382 MBbl/d of Crude Oil Terminaling Capacity 10-15% 282 MBbl/d Ramberg Terminal Facility (RTF) export capacity…
Multiple Layers of Forward Growth Portfolio of Opportunities to Drive Future EBITDA Growth Gas Processing Volume & Capacity (MMcf/d) Volume capture opportunity from existing trucked Planned and flared volumes Expansion 50+ Under…
Stable, Growing Cash Flows Supported by Long-Term Commercial Contracts with Hess MVCs provide ongoing Annual fee recalculation for changes in volume near-term downside protection forecast to maintain EBITDA stability 10-Year…
Established Track Record Proven Effectiveness of Long-Term Commercial Contracts Demonstrated cash flow protection during the oil price downturn Hess Bakken Operated Rig Count1 Hess Bakken Net Production1 (MBoe/d) Consolidated…
Significant Financial Flexibility Primarily Self Funding Organic Investment Driving Growth Significant historical investment and 2019 Capital Program3 continuing organic investment drives Area Gross (MM) Net (MM) growing EBITDA and…
Highly Visible Growth Multiple Options to Deliver Targeted Growth Guided DCF Delivers Targeted 15% Annual DPU Growth Delivering Targeted Distribution Growth Quarter on Quarter with at least 1.1x Coverage 2018 2019 (1) Actual…
Hess Midstreams Strengths Large Scale Full Service Midstream Provider in the Bakken Consistently Delivering Targeted 15% Annualized Distribution Per Unit Growth Hess is a leading global E&P company Strong Sponsors GIP is a leading…
Highly Visible Growth Reconciliation to GAAP Metrics Non-GAAP Financial Measures We define Adjusted EBITDA as net income (loss) plus net interest expense, income tax expense (benefit) and depreciation and amortization, as further adjusted…
Highly Visible Growth Reconciliation to GAAP Metrics (Contd) The following table presents a reconciliation of gross EBITDA margin to net income, the most directly comparable GAAP financial measure, for each of the periods indicated.…
Platform for Midstream Growth With Strong Sponsorship Capital structure to fund growth - HESM undrawn 300MM revolver as of 12/31/18 - Primarily self funding expansion capex 50% 50% Ownership Ownership Other Midstream Hess…
Midstream Market Optionality Providing Access to Key Export Routes Tioga Rail Terminal Rail to East Coast Rail to West Coast Crude Oil Enbridge Ramberg Terminal Facility DAPL Andeavor Refinery DAPL Johnsons Corner…
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