Wells Fargo Conference December 2020 www.nblmidstream.com NASDAQ: NBLX 1
Noble Midstream: Diversified Midstream Provider Focused on High-Return Opportunities 750,000 Net Acre Position across 2 Weld Co., Colorado Premier Oil Basins Strong Parent and Growing Third-Party Business Diversification…
Noble Midstream Building Sustainable Value Pursuing vision to be the midstream solution provider and partner of choice recognized for safe operations, reliability and relationships Noble Midstream Strategic Principles 2020…
Noble Midstream: Sizeable Business Expansion since IPO Noble Midstream Major Event Timeline IPO to December 2020 Delaware Advantage Pipeline Saddle Butte Acquisition and Joint Venture with Green River Crossing Joint Saddlehorn…
Successes Pave the Way for the Next Decade Capital and Operating Cost Corporate Development Focused on New Midstream Control Driving Margin Building Core Foundation Paradigm 500 G&P FWD Transmission 20% 250 3.0x 2020 Annual…
3Q2020 Highlighted by Continued Cost Control and Pipeline Inflection Self-funded quarterly operations for second-consecutive quarter Organic Capital (MM) Segment Adjusted Net EBITDA1,2 60 120 (MM) Gathering Volume FWD Equity…
Activity Picking Up, 2021 Affiliate Activity in Both Basins 2020E Gross Transmission Volumes Customers Resumed Completion Activity Late in Year Expect 25 to 30 well connections on wholly-owned assets, 800 Pipeline Volumes (Bbl/d)…
2020 Guidance Raised in November as Fourth-Quarter Activity Increases 2020 Outlook Adjusted Net and Distributable EBITDA1,2 Cash Flow1 raised 1% and 5%, respectively Organic Capital 70 - 80 MM Equity Investment Capital Organic…
Priorities for Available Cash Have Not Changed Lowering 2020E Leverage Targets, Long-Term Unchanged Net Debt to TTM EBTIDA1,2 Guidance Self-funded quarterly operations for second-consecutive quarter 5.0x Range Ended 3Q20 at 4.2x…
Operations www.nblmidstream.com NASDAQ: NBLX 11
Asset and Customer Diversity Differentiates Noble Midstream Diversified Portfolio with Multiple Cash Flow Drivers 2020E Adjusted Net EBITDA1,2 Composition Intermediate and long-haul pipeline startups bolster cash By Service By…
Midstream Business Improves with Strong Affiliate Relationship Noble Midstreams row infrastructure can support potentially lower operating Mustang Row and Eco-Node Design costs and improved environmental metrics 40+% Operating Cost…
Experienced Corporate/Business Development Team Punching above its Weight Focused on Expanding Presence within Existing Footprint Class 1 Corporate Development 1 Backyard Opportunities 3.4 B Utilizing existing capacity to drive…
Transmission Business Ramping in Permian EPIC Crude Overview Asset Map 700 mile, 30 Permian Basin export pipeline to Corpus Christi market, 2.4B construction cost 600,000 Suezmax Online April 2020 Bbl/d Loading throughput (by…
Saddlehorn: Highly Accretive Investment with Diversified Cash Flows Saddlehorn Pipeline is a crude takeaway pipeline originating in the Resilient Pipeline Backed by Contractual PRB and the DJ Basin (Platteville) and delivering to…
Intermediate Pipelines Provide Access to Delaware and Midland Basin Market Hubs Advantage and Delaware Crossing Pipelines Permian Footprint Growing 150+ Miles of Pipeline 13+ Customers Delaware Crossing 100+ MBbl/d…
DJ Basin Supported by Core Acreage and Strong Customers Gathering Overview System Overview Largest oil gatherer in DJ Basin with DJ Basin Oil Gathering majority of customers and activity Gas Gathering PW Gathering focused in Weld…
Diversified Permian Business with Access to Gulf Coast Gathering Overview System Overview Core footprint in the southern EPIC Crude(30%) & EPIC Y-Grade (15%) Oil and NGL Transmission Delaware Basin, mostly situated in Delaware Basin…
Non-GAAP Reconciliations Reconciliation of Net Income (GAAP) to Adjusted EBITDA (Non-GAAP) and Distributable Cash Flow (Non-GAAP) (in thousands, unaudited) Three Months Ended September 30, 2020 Trailing Twelve Months Reconciliation…
Non-GAAP Reconciliations Reconciliation of Net Cash Provided by Operating Activities (GAAP) to Adjusted EBITDA (Non-GAAP) (in thousands, unaudited) Three Months Ended September 30, 2020 Trailing Twelve Months Reconciliation from…
Non-GAAP Reconciliations Calculation of Net Debt to Trailing Twelve Months Reconciliation of 2020 GAAP Guidance to 2020 Non- Adjusted Net EBITDA GAAP Guidance (in thousands, unaudited) (in thousands, unaudited) Net Income (GAAP)…
Contact Information Park Carrere 1001 Noble Energy Way Investor Relations Houston, TX 77070 park.carrerenblmidstream.com 281.872.3208 www.nblmidstream.com NASDAQ: NBLX 24
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