Western Midstream Partners (WES) Fireside Chat summary

Introduction and agenda

• The session introduced the new CEO, Oscar Brown, and CFO Kristen Shults, focusing on leadership transition and strategic priorities.

Background and experience of the speaker

• Oscar Brown has 25 years in banking covering energy companies, then joined Occidental Petroleum for four years in business development and strategy.

• He spent several years in renewables, gaining firsthand experience with energy transition challenges, and has been a WES board member and director for five years.

Current industry trends

• The company is experiencing strong system operability and record natural gas throughput in the Delaware Basin, with some moderation in growth rates expected for 2025.

• Produced water volumes increased, while crude and NGL volumes decreased due to asset sales and recycling programs.