Hess Midstream Investor Relations Presentation August 2021
Leading Midstream Platform Delivering Long-Term, Competitive and Resilient Growth Leading Business Model with Strategic Infrastructure serving Hess(1) and Third Parties Strategic infrastructure assets providing oil, gas and water…
Leading Midstream Attributes Visible Long-Term Growth, Sustainable Cash Flow Visible Volume and Significant Growth in Lower Capital Free Cash Flow Revenue Growth Adjusted EBITDA Expenditures Inflection 600 - 620MM Adjusted Gas…
Return of Capital to Shareholders Executing Our Financial Strategy Delivering Return of Capital to Shareholders Significant financial flexibility including Adjusted Free Cash Flow after distributions Targeted 3x leverage provides…
Stable, Growing Cash Flow Long-Term Commercial Contracts with Hess through 2033 100% Fee-Based Contracts(1) Minimum Volume Commitments Fee Recalculation Mechanisms Minimize commodity price exposure Provide downside protection Deliver…
Established Track Record Proven Effectiveness of Long-Term Commercial Contracts Demonstrated cash flow protection during oil price downturns Hess Bakken Operated Rig Count(1) Hess Bakken Net Production(1) (MBoe/d) HESM Adjusted…
Strategic Relationship with Strong Sponsor Significant Inventory of High Return Drilling Locations Divide Leading Acreage Position 460,000-acre position Divide Burke Hess 75% WI, operator Tioga Rail Terminal Burke Focus on…
Hess Commitment to Sustainability HESM Maintains Same Safety, Environmental, SR Commitment Safety Climate Change & Environment Social Responsibility Multidisciplinary team overseeing Reduced greenhouse gas1 (GHG) emissions Guided by…
Integrated Gas Processing and Gathering Offers Processing and Export Optionality to Hess and Third Parties 500 MMcf/d of Gas Processing Capacity(1) 500 MMcf/d processing capacity, including 400 MMcf/d(1) at the Tioga Gas Plant and…
Integrated Crude Oil Terminaling and Gathering Offers Terminaling and Export Optionality to Hess and Third Parties 385 MBbl/d of Crude Oil Terminaling Capacity 285 MBbl/d Ramberg Terminal Facility (RTF) export capacity 100 MBbl/d…
Growing Water Services Assets Offers Integrated Water Handling Services to Hess and Third Parties Rapidly Growing Business Line Extensive water gathering footprint north of the Missouri River Improved safety and environmental…
Focused and Disciplined Capital Allocation Proactively Reducing Capital Compared to Historical Levels Focused and Efficient Capital Program(1) Expansion Capital Area (MM) 2021 Completed major infrastructure build out Compression:…
Hess Midstream Leading Business Model Differentiated Financial Metrics Compared to Wide Range of Peers(1) Expected 2020 to 2021E 2021E Free Cash Flow 2021E Debt / 2021E Adjusted EBITDA Growth Conversion(2) Adjusted EBITDA 71% 5.0x…
Hess Midstreams Strengths Stable, Growing Cash Flow Generation from Leading Business Model High Quality, Integrated Portfolio With Meaningful Scale Long-Term Commercial Contracts with Hess Differentiated Cash Flow…
Reconciliation to GAAP Metrics Non-GAAP Financial Measures In addition to our financial information presented in accordance with GAAP, management utilizes certain additional non-GAAP measures to facilitate comparisons of past…
Reconciliation to GAAP Metrics The following table presents a reconciliation of gross Adjusted EBITDA margin to net income, the most directly comparable GAAP financial measure. HESM (1) FY 2019 FY 2020 (in millions) Net income…
Shareholder Accretion Table Illustrative DCF per Unit/Share Accretion Based on H2 2021 Distributable Cash Flow Guidance(1) (2) Pro-forma: July 2021 Guidance Excluding Sponsor Unit Repurchase MM (unless otherwise noted) Low End…
2021 Guidance Demonstrates Highly Visible Growth 2021 Guidance: 880 900MM Adjusted EBITDA and 180MM Capex Guidance Highlights Hess production and increasing Hess Midstream gas capture driving volume guidance (1,2) Expected 19%…
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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