Kinetik (KNTK) Investor presentation summary

Strategic positioning and business overview

• Operates as a pure-play midstream company in the Permian Basin, focusing on natural gas and NGLs with an integrated super-system spanning the Delaware Basin and access to multiple premium downstream markets.

• Maintains a fee-based business model with mission-critical infrastructure, including 5,000 miles of gathering lines, 2.7 Bcf/d processing capacity, and diversified services in gas, crude, and water.

• System reach supports basin-wide growth, connecting to major LNG export and energy markets, and leverages strong natural gas fundamentals driven by increased production and takeaway capacity.

Recent project and commercial highlights

• Achieved FID on 300 Mmcf/d KLII expansion, with completion expected in 2H28; construction underway on AGI and sour conversion at Kings Landing, targeting year-end 2026 in-service.

• Amended and extended key gas gathering agreements in Eddy County, NM, increasing dedicated acreage and contract terms to 2039.

• Entered new agreements for gas, water, and crude midstream services in TX and NM; executed a residue gas supply connection to the 452 MW Pecos Power Plant.

• ECCC Pipeline startup underway, with full service in June 2026, and secured additional Gulf Coast pricing for 2028–2030 to mitigate Waha exposure.

Growth drivers and operational performance

• Processed gas volume growth has consistently outpaced overall Permian Basin growth, with acceleration expected in 2H26 from ECCC Pipeline and Kings Landing ramp-up.

• Delaware Basin scale and new projects, such as Kings Landing and ECCC Pipeline, are expected to drive meaningful earnings growth and reinforce a unique regional footprint.

• Sour gas handling platform expansion in Delaware North supports resource development, with over 31 Mmcf/d permitted acid gas capacity and new opportunities for margin uplift.

• Power generation initiatives include a 40 MW behind-the-meter gas-fired project at Diamond Cryo, reducing utility costs and offering grid sales potential.