Hess Midstream Investor Relations Presentation May 2022
Leading Midstream Platform Delivering Long-Term, Competitive and Resilient Growth Leading Business Model with Strategic Infrastructure serving Hess(1) and Third Parties High Quality, Strategic infrastructure assets providing oil, gas…
Leading Midstream Attributes Visible Long-Term Growth, Sustainable Cash Flow Visible Volume and Significant Growth in Disciplined Capital Sustainable FCF and Revenue Growth Adjusted EBITDA Program Financial Flexibility Gas Capture a…
Return of Capital to Shareholders Committed to Consistent & Ongoing Return of Capital Return of Capital to Shareholders Framework 1 Growing Base Distribution 2 Incremental Return of Capital Target 5% annual DPS growth through at…
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 460,000-acre position Leading Acreage Position Divide Burke Hess 75% WI, operator Burke Focus on efficiencies via Lean…
HESM Commitment to Sustainability Inaugural Sustainability Report Highlights Strategy and reporting Contributing Reducing Hess flaring aligned with leading significantly to Hess by investment in gas midstream reporting targets capture…
Integrated Gas Processing and Gathering Offers Processing and Export Optionality to Hess and Third Parties 500 MMcf/d of Gas Processing Capacity 500 MMcf/d processing capacity, including 400 MMcf/d at the Tioga Gas Plant and 100…
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…
Disciplined Capital Allocation Targeted Investments to Meet Customer Demand Stable & Focused Capital Program(1) Expansion Capital Area (MM) 2022 capital focused on: Compression: - Completion of two new greenfield compressor…
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…
2022 Guidance Demonstrates Continued Free Cash Flow Generation 2022 Guidance: 970 MM 1 billion Adjusted EBITDA and 235 MM Capex Guidance Highlights Increasing Hess production and Hess Midstream gas capture driving volume guidance…
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 (in millions) FY 2020 FY 2021 Net income 484.9…
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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