First Quarter 2020 Results and 2020 Updated Guidance May 8, 2020 www.nblmidstream.com NASDAQ: NBLX 1
Continued Execution Driving Record Quarterly Results Capital and Cost Control Lead Financial Performance Achieved record 107 million Adjusted net EBITDA1,2 and 94 million DCF1 on improved costs and higher volumes Invested 43 million…
Adjusting Cost Structure to Current Environment Self Funding in 2Q20 and Beyond Cash cost reductions enable Noble Midstream to self-fund beginning in 2Q20 MM Cash Flow less Total Capital Distributions 50 Aligning Costs to Current…
Adjusting to Uncertain Times, Revising 2020 Outlook Minimal Organic Capital Remaining; Equity Investment 2020 Revised Outlook Capital Declining 2020E organic capital budget reduced by 65% with 30 million Net Organic Capital…
Asset and Customer Diversification Differentiates Noble Midstream Diversified Portfolio with Multiple Cash Flow Drivers 2020E EBITDA1,2 Composition Intermediate and long-haul pipeline startups bolster cash flow By Service By Customer…
Equity Investment Inflection, Y-Grade Started Up in 2Q20 EPIC Pipeline System EPIC Transitions to Full Service EPIC Crude placed into full service April 1 TX Minimal remaining capital to construct export dock EPIC Y-Grade…
Gathering Segment Supported by Core Acreage and Strong Customers Infrastructure Build-Out and Core Acreage Boost DJ Basin Future Project Returns MM 550,000 core net acre dedication and 15+ customers 375 16 additional Mustang…
Revised Distribution Policy Improves Leverage and Coverage Distribution Coverage Ratio1 Transitioning to Self-Funding Business Model 6.0x 75% distribution reduction preserves approximately 200 million in annual cash flow and…
Contact Information Park Carrere 1001 Noble Energy Way Investor Relations Houston, TX 77070 park.carrerenblenergy.com 281.872.3208 www.nblmidstream.com NASDAQ: NBLX 12
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