#1ENLINK→ MIDSTREAM Investor Presentation September 2022 INTEGRITY | INNOVATION | SAFETY │PEOPLE | EXCELLENCE#2FORWARD-LOOKING STATEMENTS ENLINK MIDSTREAM This presentation contains forward-looking statements within the meaning of the federal securities laws. Although these statements reflect the current views, assumptions and expectations of our management, the matters addressed herein involve certain assumptions, risks and uncertainties that could cause actual activities, performance, outcomes and results to differ materially from those indicated herein. Therefore, you should not rely on any of these forward-looking statements. All statements, other than statements of historical fact, included in this press release constitute forward-looking statements, including but not limited to statements identified by the words "forecast," "may," "believe," "will," "should," "plan," "predict," "anticipate," "intend," "estimate," "expect," "continue," and similar expressions. Such forward-looking statements include, but are not limited to, statements about guidance, projected or forecasted financial and operating results, expected financial and operations results associated with certain projects, acquisitions, or growth capital expenditures, future operational results of our customers, results in certain basins, future results or growth of our CCS business, future cost savings or operational initiatives, profitability, financial or leverage metrics, the impact of weather-related events on us and our financial results and operations, the impact of any customer billing disputes and litigation arising out of weather-related events, future expectations regarding sustainability initiatives, our future capital structure and credit ratings, the impact of the COVID-19 pandemic or variants thereof on us and our financial results and operations, objectives, strategies, expectations, and intentions, and other statements that are not historical facts. Factors that could result in such differences or otherwise materially affect our financial condition, results of operations, or cash flows include, without limitation (a) the impact of the ongoing coronavirus (COVID-19) pandemic, including the impact of the emergence of any new variants of the virus on our business, financial condition, and results of operations, (b) potential conflicts of interest of Global Infrastructure Partners ("GIP") with us and the potential for GIP to compete with us or favor GIP's own interests to the detriment of our other unitholders, (c) adverse developments in the midstream business that may reduce our ability to make distributions, (d) competition for crude oil, condensate, natural gas, and NGL supplies and any decrease in the availability of such commodities, (e) decreases in the volumes that we gather, process, fractionate, or transport, (i) our ability or our customers' ability to receive or renew required government or third party permits and other approvals, (j) increased federal, state, and local legislation, and regulatory initiatives, as well as government reviews relating to hydraulic fracturing resulting in increased costs and reductions or delays in natural gas production by our customers, (k) climate change legislation and regulatory initiatives resulting in increased operating costs and reduced demand for the natural gas and NGL services we provide, (I) changes in the availability and cost of capital, including as a result of a change in our credit rating, (m) volatile prices and market demand for crude oil, condensate, natural gas, and NGLs that are beyond our control, (n) our debt levels could limit our flexibility and adversely affect our financial health or limit our flexibility to obtain financing and to pursue other business opportunities, (o) operating hazards, natural disasters, weather-related issues or delays, casualty losses, and other matters beyond our control, (p) reductions in demand for NGL products by the petrochemical, refining, or other industries or by the fuel markets, (q) our dependence on significant customers for a substantial portion of the natural gas and crude that we gather, process, and transport, (r) construction risks in our major development projects, (s) challenges we may face in connection with our strategy to enter into new lines of business related to the energy transition, (t) impairments to goodwill, long-lived assets and equity method investments, and (u) the effects of existing and future laws and governmental regulations, and other uncertainties. These and other applicable uncertainties, factors, and risks are described more fully in EnLink Midstream, LLC's and EnLink Midstream Partners, LP's filings with the Securities and Exchange Commission, including EnLink Midstream, LLC's and EnLink Midstream Partners, LP's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Neither EnLink Midstream, LLC nor EnLink Midstream Partners, LP assumes any obligation to update any forward-looking statements. The EnLink management team based the forecasted financial information included herein on certain information and assumptions, including, among others, the producer budgets/forecasts to, which EnLink has access as of the date of this presentation and the projects / opportunities expected to require growth capital expenditures as of the date of this presentation. The assumptions, information, and estimates underlying the forecasted financial information included in the guidance information in this presentation are inherently uncertain and, though considered reasonable by the EnLink management team as of the date of its preparation, are subject to a wide variety of significant business, economic, and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the forecasted financial information. Accordingly, there can be no assurance that the forecasted results are indicative of EnLink's future performance or that actual results will not differ materially from those presented in the forecasted financial information. Inclusion of the forecasted financial information in this presentation should not be regarded as a representation by any person that the results contained in the forecasted financial information will be achieved. September 2022 Investor Presentation 2#3INDEX 2Q22 FINANCIAL RESULTS 2022 UPDATED GUIDANCE EXECUTION PLAN PRIORITIES CARBON SOLUTIONS APPENDIX 6 10 14 20 20 27 ENLINK MIDSTREAM September 2022 Investor Presentation 3#4ENLINK MIDSTREAM Focused On Environmentally Responsible Operations Delivering Energy Solutions for the Future CREATING SUSTAINABLE VALUE ENLINK> MIDSTREAM Integrated Business Model ENLINK> Connecting En MIDSTREAM 0 Large-Scale, Cash-Flow- Generating Platform Powered by Operational Excellence#5INTEGRATED BUSINESS MODEL PREMIER PRODUCTION BASINS CONNECTED TO KEY DEMAND CENTERS Plant Plant and Fractionator Plant Under Construction Fractionator EnLink NGL EnLink Natural Gas EnLink Crude ~1,100 Employees Operating Assets in 7 States Our Footprint Permian Louisiana Oklahoma North TX Service Type Basin / Geography Natural Gas NGL Crude Permian Basin ✓ ✓ ✓ Gulf Coast Haynesville Anadarko Basin ✓ Barnett ✓ ✓ Marcellus / Utica 25 ~5.9 7 ~320,000 ~12,600 Processing Facilities Bcf/d Processing Capacity Fractionators bbl/d Fractionation Capacity Miles of Pipeline Note: As of July 1, 2022. Ascension Pipeline is 50% owned by a joint venture with a Marathon Petroleum Corp. subsidiary. Delaware Basin gas G&P assets are 49.9% owned by Natural Gas Partners. September 2022 Investor Presentation 5#6ENLINK MIDSTREAM 2Q22 FINANCIAL RESULTS#72Q22 FINANCIAL RESULTS ADJUSTED EBITDA YEAR-OVER-YEAR GROWTH OF 16% ENLINK MIDSTREAM $MM, unless noted Net Income (Loss) 2Q22 • $123.9 Adjusted EBITDA, net to EnLink¹ $299.7 Capex, net to EnLink, Plant Relocation Costs², & Investment Contributions³ $98.7 Net Cash Provided by Operating Activities $174.9 Free Cash Flow After Distributions¹ Declared Distribution per Common Unit $67.5 $0.1125 . • As of June 30, 2022 Debt-to-Adjusted EBITDA4 3.5x Amount Outstanding on $1.4BN Revolving Credit Facility Cash, net to EnLink $0 Lil $11 Record Quarterly Results 2nd consecutive quarter generating ~$300MM of Adjusted EBITDA Permian volumes and segment profit grew 11% and 24% sequentially and 46% and 76% YoY5, respectively Robust Free Cash Flow Generation Strong execution, cost control, and • timing of capex resulted in strong FCFAD Executed $75MM6 of common unit repurchases in 1H22 Strong Producer Activity & Outlook Robust commodity prices are driving increased producer activity across all segments Expect significant growth to continue in the Permian and now in Oklahoma in 2023 'Non-GAAP measures are defined in the appendix. 2Includes $9.4MM and $1.7MM for 2Q22 in Permian and Oklahoma, respectively, for relocation costs related to plant relocation classified as operating expenses in accordance with GAAP. 3Contributions of $26.6MM to the equity method investments for 2Q22, principally for Matterhorn JV. 4Calculated according to revolving credit facility agreement leverage covenant, which may include up to $50MM of cash on the balance sheet. 5Excluding plant relocation costs and unrealized derivatives. 'Includes $24MM of common units repurchased from GIP pursuant to the previously disclosed Unit Repurchase Agreement dated February 15, 2022 and which settled on August 2, 2022. September 2022 Investor Presentation 7#8SEGMENT RESULTS OVERVIEW POSITIVE VOLUME MOMENTUM DRIVES IMPROVED SEGMENT RESULTS Quarterly Highlights Permian Segment Results ($MM) 2Q21 3Q21 4Q21 1Q22 2Q22 Permian Gas Segment Profit 28.1 58.4 60.1 50.4 102.6 Permian Crude Segment Profit 15.9 10.7 13.7 22.6 9.5 • Total Segment Profit 44.0 69.1 73.8 73.0 112.1 Plant Relocation OPEX1 10.0 8.8 0.1 8.9 9.4 Unrealized Derivatives Loss/(Gain) 7.9 (10.2) 4.7 5.9 (12.5) Louisiana Gas Segment Profit 10.6 5.9 18.3 14.1 17.8 Louisiana NGL Segment Profit 47.8 50.1 85.8 69.4 64.3 ORV Crude Segment Profit 8.9 7.7 7.6 7.0 6.9 Total Segment Profit 67.3 63.7 111.7 90.5 89.0 Unrealized Derivatives Loss/(Gain) 9.4 8.8 (19.3) 5.6 (11.8) Oklahoma Gas Segment Profit 78.4 84.2 96.4 81.5 95.5 Oklahoma Crude Segment Profit 7.2 2.9 3.0 4.3 3.1 Total Segment Profit 85.6 87.1 99.4 85.8 98.6 Plant Relocation OPEX1 0.2 0.0 1.6 2.4 1.7 Unrealized Derivatives Loss/(Gain) 5.3 53 2.3 (9.4) 7.1 (8.2) North Texas Gas Segment Profit Unrealized Derivatives Loss/(Gain) 57.9 60.0 56.1 63.0 66.9 1.2 0.3 3.5 (3.5) (2.8) Note: Includes segment results associated with non-controlling interests. Segment results include realized and unrealized derivatives and Plant Relocation OPEX. 'Project War Horse and Project Phantom. ENLINK MIDSTREAM Sustained, robust producer activity in Midland Significant volume growth led to a greater contribution from Delaware gas assets Excluding plant relocation costs and unrealized derivative activity, segment profit increased ~76% vs. 2Q21 Louisiana Benefited from robust pricing and purity product demand from refineries and other downstream customers Excluding unrealized derivative activity, segment profit declined by $18.9MM vs. 1Q22, mainly driven by normal seasonal activity in the NGL segment Oklahoma Favorable commodity pricing drove sustained operator rig activity Gathering volumes were flat compared to the prior year and increased 2% sequentially North Texas BKV initiated new drilling program in March 2022 and continues with re-frac program commenced in 2021 September 2022 Investor Presentation 8#9STRONG PERFORMANCE & POSITIVE OULOOK ACROSS PORTFOLIO ENLINK MIDSTREAM MOMENTUM BUILDING IN 2022 SUPPORTING SIGNIFICANTLY HIGHER VOLUME OUTLOOK FOR 2023 Strong Growth in Permian and Louisiana: • Permian gathering volumes increased • • 11% sequentially in 2Q22 & 46% YOY Tiger plant came on line in the Delaware Basin at the end of 4Q21 Continuation of capital efficient approach with Project Phantom, which adds 200 MMcf/d of capacity • Downstream demand in Louisiana remains strong from petrochem and industrial consumers; business supported by attractive economics and growing NGL supply from G&P segments • • Significant Increase in Activity in Oklahoma and North Texas: Expecting meaningful volume growth in Oklahoma in 2023 driven by current producer activity and plans Existing assets can accommodate -25% more processing volume (post Phantom move) to support growth Drilling and refrac activity by BKV and others continues to improve the volume outlook for North Texas Executed on low-risk M&A strategy, acquiring assets for an attractive valuation of ~4x EBITDA, driven by significant operational and capital synergies September 2022 Investor Presentation 9#10ENLINK MIDSTREAM 2022 UPDATED GUIDANCE#11RAISING 2022 FINANCIAL GUIDANCE ENLINK MIDSTREAM GROWING ALONGSIDE OUR CUSTOMERS DRIVES IMPROVED OUTLOOK FOR 2022 AND 2023 Adjusted EBITDA Growth Midpoint now implies -21% growth over 2021 Significantly hedged 2022 commodity exposure $MM, unless noted Initial Net Income (GAAP) $230 - $310 Adjusted EBITDA, net to EnLink2,3 $1,110 $1,190 Updated¹ $390 - $430 $1,250 $1,290 • . Capex, net to EnLink, Plant Relocation Costs & Investment Contributions $285-$325 $405 - $455 · Growth Capex, net to EnLink, & Plant Relocation Costs $230 - $260 $300 - $330 Maintenance Capex, net to EnLink $55 - $65 $40 - $50 • Investment Contributions5 $65-$75 $ Free Cash Flow After Distributions² $285 - $345 $285 - $315 $0.45/unit $0.45/unit Robust Free Cash Flow Generating $300MM or more in FCFAD for 3rd consecutive year, while increasing investments in attractive high-return projects Capital Discipline • • Incremental 2022 investment supports volume growth in 2023 Investing in downstream opportunities with attractive returns Balance Sheet Strength Strong financial position provides ample flexibility Increasing return of capital to common unitholders, while investing in the business September 2022 Investor Presentation 11 Annualized 2Q22 Distribution per Common Unit Updated Commodity Price Assumptions (2H22 average): NGL basket $1.07/gallon and Henry Hub $6.50/MMBtu 'Reflects updated 2022 Guidance issued August 3, 2022. 2Non-GAAP measures are defined in the appendix. 3Adjusted EBITDA does not reflect the one-time $45MM expense related to Project Phantom. Includes $45MM classified as operating expense for GAAP purposes. 5Consists principally of Matterhorn JV contributions.#12ROBUST CASH FLOW CREATES SIGNIFICANT FINANCIAL FLEXIBILITY Delivering significant adjusted EBITDA¹ growth Significant leverage reduction over last 2 years puts balance sheet in a strong position Pivoting to a more balanced use of FCFAD¹ o Investing in growing the business, while increasing returns to unitholders 'Non-GAAP measure defined in the appendix. 2Referenced growth in the underlying business is adjusted EBITDA. 3Calculated according to revolving credit facility agreement leverage covenant, which may include up to $50MM of cash on the balance sheet. ENLINK MIDSTREAM ($MM) 1,270 +21% 1,039 1,050 +7% Growth in MVC Underlying Business² 2020 2021 Updated 2022 Guidance Midpoint 2020 2021 Debt Paydown ($MM) (136) (235) 4Q20 4Q21 2Q22 Leverage³ 4.1x 3.9x 3.5x ($MM) Leverage Reduction 175 100 Unit 40 Buyback Execution 2021 Initial 2022 Updated 2022 Target Guidance Midpoint September 2022 Investor Presentation 12#132022 CAPITAL ALLOCATION BALANCED CAPITAL ALLOCATION APPROACH Uses of DCF ENLINK MIDSTREAM 2022E Distributable Cash Flow $300 FCFAD ■Growth Capex & Plant Relocations $905MM 20% distribution increase in 4Q21 Maintain significant FCFAD and financial flexibility Investing in high-return growth projects $220 $315 Matterhorn Investment ■Common $70 Distributions Financial Flexibility 2022E FCFAD $50 $75 ■1Q22 Pfd B Repurchase $300MM ■Return of Capital to Common Unitholders Repurchased incremental $50MM of Pfd B in 1Q22 Repurchased $75MM of common units¹ in 1 H22 Expect to increase return of capital by 75%+ through $150MM $200MM of common unit buybacks Includes $24MM of common units repurchased from GIP pursuant to the previously disclosed Unit Repurchase Agreement dated February 15, 2022 and which settled on August 2, 2022. $175 ■Growth Projects/Leverage Reduction September 2022 Investor Presentation 13#14ENLINK MIDSTREAM EXECUTION PLAN PRIORITIES#152022 EXECUTION PLAN PRIORITIES . FOCUSED ON DRIVING SUSTAINABLE VALUE Operational Excellencemiz Rigorous program centered on innovation and continuoUS improvement Closed 25 operational excellence initiatives in 2021, delivering process efficiencies and savings Implement remote operations at processing plants Utilize technology to automate processes • Mobile operator application rolled out across EnLink Technology and innovation drive next level of efficiency Financial Discipline & Flexibility Delivering significant deleveraging, while investing in the business Robust FCFAD generation drives financial flexibility Increased 2022 financial guidance, which implies 21% growth over 2021 Put in place attractive AR facility and have grown and improved pricing twice Pivoting to more balanced capital allocation that includes higher returns to equity holders; instituted unit repurchase program Strategic Growth Deliberate and Disciplined Growth Strong producer activity strengthening the growth outlook for 2022 and 2023 volumes and cash flow 15% equity interest in Matterhorn Express Pipeline Acquired North Texas G&P system with attractive 4x economics driven by known synergies and redeployment of assets Continued validation of CCS strategy with new commercial opportunity with ConocoPhillips ENLINK MIDSTREAM Sustainability & Safety ~90% of EnLink's current business is natural gas and natural gas liquids focused Sustainability and safety are integrated into all aspects of our business 2nd carbon capture project at Bridgeport plant advances emission reduction goals, while generating modest profit First quarter of 2022 marked the first time in 1Q with no recordable injuries On track to meet near-term emissions goal of a 30% reduction in scope 1 methane emissions intensity¹ by 2024 Innovation & continuous improvement reducing costs, reducing carbon footprint & enhancing profitability companywide As compared to 2020 scope 1 emissions level. September 2022 Investor Presentation 15#16LETTER OF INTENT WITH CONOCOPHILLIPS PROVIDE CO2 TRANSPORTATION TO THE MISSISSIPPI RIVER CORRIDOR ENLINK>> MIDSTREAM ENLINK MIDSTREAM ConocoPhillips • • . Letter of Intent with ConocoPhillips EnLink executed LOI with ConocoPhillips (NYSE:COP) for a Transportation Service Agreement (TSA) for CO₂ transportation services along the Mississippi River corridor in southeast Louisiana EnLink would utilize existing and newbuild pipelines and related infrastructure to transport CO2 Pipelines would connect to proposed storage facility in southeast Louisiana where ConocoPhillips has an acreage position September 2022 Investor Presentation 16#17LINKING CO2 EMITTERS TO SEQUESTRATION SITES EXECUTING GOAL TO BECOME CO2 TRANSPORTATION PROVIDER OF CHOICE Majority of industrial emitters are current customers, many with multiple pipeline connections to their facilities 80 mtpa of emissions are largely located in four hubs • • Utilizing repurposed pipeline and existing right-of-way, EnLink provides a cost-effective CO2 gathering system Working with sequestration providers near our existing pipeline network • TALOS ENERGY • OXY ConocoPhillips Note: Sequestration sites are for illustrative purposes and exact location may vary. 12.75" West Baton Rouge 20 18" Baton Rouge Area Total Emissions (mtpa): 19.2 Total Emitter Count: 33 16" 24" 12.75" Iberville ENLINK MIDSTREAM EnLink Natural Gas Tangipahoa Livingston 20' 18 Geismar Area Total Emissions (mtpa): 7.9 Total Emitter Count: 25 24" 12.75" 16 20 (beria 24 St. Martin 36" Donaldsonville Area Total Emissions (mtpa): 14.2 Total Emitter Count: 13 12.75" St. Mary 12.75" 12.75" 18" 12.75" St. James Terrebonne 16" 14 16" 12.75" 22 14° Lafourche 20 St. Charles Area Total Emissions (mtpa): 28.0 Total Emitter Count: 27 16" St. Charles 12.75" Jefferson 22" 26 0 5 10 20 Miles Future sequestration locations September 2022 Investor Presentation 17#18MATTERHORN EXPRESS PIPELINE ENLINK MIDSTREAM EXPANDING DOWNSTREAM EXPOSURE THROUGH PERMIAN TAKEAWAY TRANSPORTATION INVESTMENT Permian Basin The Waha Hub KATY • • . Matterhorn Express Pipeline Transportation capacity of up to 2.5 Bcf/d from Waha Hub to Katy, TX through 490 miles of 42" pipe Direct connections to processing facilities in the Midland Basin through approximately 75-mile lateral Final investment decision reached May 2022 based on long-term contracts with high quality shippers Expected in-service date 3Q24 Equity partners include White Water Midstream (operator), EnLink (15% interest), Devon and MPLX Project financing to be put in place at the partnership level . Attractive returns on FID case have potential to improve with additional volume commitments EnLink's total expected 15% equity investment: ~$100MM of which ~$70MM is expected to be spent in 2022 with the balance in 2023 September 2022 Investor Presentation 18#19CRESTWOOD NORTH TEXAS ACQUISITION ENLINK MIDSTREAM SIGNIFICANT SYNERGIES AND REDEPLOYMENT OF ASSETS RESULT IN ATTRACTIVE ECONOMICS N Trinity River Graham 16 Leon River Comanche 281 16 Possum Kingdom Loke TEXAS Stephenville BRIDGEPORT 281 51 Denton Loke Lewisville Flowcs Lewisville Mineral Wess SILVER CREEK Weat Fort Worth Arlington COWTOWN 144 PLANT 1362 ENLINK CRESTWOOD Loke Whitney Cedar Hill 10 20 40 Miles 22 Wa • Deployment of "The EnLink Way" Creates Significant Value Significant synergies, minimal integration capital, and significant capital avoidance - Plan to integrate with EnLink's footprint and redeploy assets to EnLink's other segments, including the Permian segment in the near-term and the Carbon Solutions business in the future Significant reduction to EnLink's 2023 capital expenditures as a result of redeployment of acquired assets, mostly compression Improves emission intensity profile in North Texas segment with high mix of electric compression Potential additional CCUS opportunities aimed at meeting carbon intensity reduction objectives Asset Overview • Expands position in prolific producing basin with proximity to incremental LNG exports along Gulf Coast ~500 miles of lean and rich gas gathering pipeline Includes three processing plants with 425 MMcf/d of capacity (available for future relocation) Attractive Economics $275 million cash consideration ~4x EBITDA and high teens unlevered return, driven by operational synergies and $50 million in identified redeployment of assets 。 Upside from potential incremental drilling and additional asset redeployments High 2023E DCF and FCFAD accretion and leverage neutral No change to EnLink's balanced capital allocation approach September 2022 Investor Presentation 19#20ENLINK> MIDSTREAM CARBON SOLUTIONS Strategic advantage in building a scalable CCS business CREATING SUSTAINABLE VALUE ENLINK> MIDSTREAM 0 Connecting En#21WHAT IS CCS? 1 CAPTURE 2 TRANSPORT CO₂ from the source before it is emitted into the atmosphere CO2 safely through midstream assets CO, CAPTURE TECHNOLOGY 2 PIPELINES ENLINK MIDSTREAM 3 SEQUESTER CO, safely and permanently underground CO₂ INJECTION WELL CO, STORAGE PROVEN TECHNOLOGY CCS utilizes existing proven technology Capture technology is very similar to natural gas gathering, compression and processing MIDSTREAM BUSINESS Transporting CO2 is very similar to moving hydrocarbons CAPACITY Class VI sequestration wells are similar to disposal wells September 2022 Investor Presentation 21#22UNPARALLELED NEED FOR GLOBAL CCS The IEA's Net Zero by 2050 Scenario outlines a carbon reduction pathway that is compliant with the Paris Agreement ENLINK MIDSTREAM To meet net-zero emissions globally, CCS is expected to account for -37% of all CO2 reduction from industry Source: IEA - Net Zero by 2050, A Roadmap for the Global Energy Sector. - CCS ■Material efficiency Hydrogen Bioenergy ■ Other renewables ■ Electrification ■ Other fuel shifts Energy efficiency Global CCS Becomes Major Industry By 2050 40 2020 1,600 2030 5,600 7,600 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 2040 2050 Global CO2 captured will have to increase to ~7.6 billion metric tonnes per year by 2050 Annual Million illion Metric Tonnes September 2022 Investor Presentation 22 22#23SIGNIFICANT OPPORTUNITY FOR ENLINK IN LOUISIANA ENLINK MIDSTREAM LOUISIANA IS ONE OF THE HIGHEST INDUSTRIAL CO2 EMITTERS IN THE COUNTRY Total U.S. CO2 Emissions Total Industrial & Power CO2 Emissions Louisiana Industrial & Power CO2 Emissions Mississippi River corridor CO2 5.2 billion metric Tonnes of CO₂ Industry is 47% of total CO2 LA 2nd largest Industrial CO2 emitter² 80MM Metric Tonnes of CO₂ • Louisiana has the 2nd highest industrial CO2 emissions in the United States² • The Mississippi River corridor makes up nearly 2/3 of Louisiana's total industrial CO2 emissions Source: EPA. EPA Greenhouse Gas Inventory Data Explorer 2019. 2EPA FLIGHT Tool. September 2022 Investor Presentation 23 23#24INCREASED POTENTIAL UNDER EXPANDED 45Q SIGNIFICANT BIPARTISAN SUPPORT FOR INCREASED 45Q CREDITS AND DIRECT PAY ENLINK MIDSTREAM Estimated Capture Cost per Industry2 ($/tonnes) Current economics sufficient for emitters EnLink is targeting Mississippi River corridor has gas processing, ammonia, chemicals and hydrogen Proposed¹ 45Q Credit for Dedicated Storage Current 45Q Credit for Dedicated Storage Opportunity significantly expands with proposed changes to 45Q 100 90 - 80 70 60 50 40 40 " Average Estimated Cost 30 Refineries Coal Power Cement Gas Power Steel Petrochemicals 20 10 0 24 Gas Processing Ethanol Ammonia Chemicals Hydrogen Inflation Reduction Act includes prevailing wage requirements 2Great Plains Institute "Transport Infrastructure for Carbon Capture and Storage" June 2020. September 2022 Investor Presentation#25BEST POSITIONED TO PROVIDE CCS IN LOUISIANA ENLINK HAS ALL THE ELEMENTS FOR A FULL-SERVICE CCS BUSINESS Customer-focused mindset with decades of relationships in the Louisiana market ENLINK MIDSTREAM Extensive experience operating transportation assets, including compression, dehydration, pumping and pipelines, with 4,000 miles of pipe located in Louisiana Decades of experience structuring and executing commercial contracts to accommodate customer needs ✓ Significant experience operating cryogenic and amine process equipment with 25 processing facilities across the country Experienced engineering, operations, commercial and back-office staff, with 230 of our 1,100 employees based in Louisiana Access to significant acreage position for future sequestration sites with ample capacity in close proximity to existing pipeline infrastructure September 2022 Investor Presentation 25 25#26ENLINK'S CARBON CAPTURE BUSINESS POTENTIAL UNIQUE EXISTING FOOTPRINT IN ONE OF THE LARGEST EMITTING AND STORAGE STATES • • • Louisiana is the 2nd largest industrial CO₂ emitting¹ state in the United States West Feliciana Fast Feliciana o Heavy concentration along the Mississippi River corridor with 80 million metric tonnes of CO2 per year West Baton Rouge Louisiana has the 2nd largest sequestration potential² due to its geology EnLink currently connects to, or has pipeline within several miles of the majority of industrial emitters in the region Iberville - EnLink Natural Gas 2020 Facilities CO₂ Emissions 0.0 0.5 MM tonnes 0.5 1.5 MM tonnes 1.5-3.0 MM tonnes East Baton Rouge 3.0 MM tonnes and larger Ascension Assumption St. Martin Iberia • Existing large-diameter pipelines are well-suited for CO2 service • EnLink can use existing pipe in the ground, resulting in a significant competitive cost advantage St. Mary EIA Total carbon dioxide emissions state rankings 2018 report 2Great Plains Institute "Transport Infrastructure for Carbon Capture and Storage". Terrebonne Livingston St. James the Baptist Lafourche 0 ENLINK MIDSTREAM Orleans. Jefferson St. Bernard Plaquemines September 2022 Investor Presentation 26 26#27ENLINK MIDSTREAM APPENDIX#28FOCUSED ON ENVIROMENTALLY RESPONSIBLE OPERATIONS DRIVING TOWARD A LOWER-CARBON, SUSTAINABLE FUTURE ENLINK MIDSTREAM 2024 Achieving a 30% reduction in scope 1 methane emissions intensity by 2024 This is a high-impact step, as methane has a global warming potential 25 times that of carbon dioxide (CO2)² 2030 Pursuing a path to reach a 30% reduction in total scope 1 CO2-equivalent emissions intensity by 2030 ON-TRACK TO MEET 2024 GOAL: Approaching halfway point • Select environmental performance achievements: 。 Completed emissions projects in 2021 for 1,500 MT methane reduction and 38,000 MT CO₂e reduction 。 Signed agreement with Continental Carbonics to capture and sell ~100,000 metric tonnes of CO2 per year at Bridgeport plant 。 Signed agreement with BKV Corp. to develop another CCS project at Bridgeport, which also moves EnLink closer to emissions goals • Evaluating emissions reduction innovations & technology, including: o Replacing pneumatic devices to lower- or zero-emitting alternatives o Increasing usage of renewable energy to power our operations o Converting natural gas-driven equipment to run on electricity o Implementing carbon capture tech for reuse or sequestration 。 Utilizing voluntary optical gas imaging monitoring programs o Installing emission control equipment to reduce emissions 'As compared to 2020 scope 1 emissions levels. 2Overview of Greenhouse Gases: Methane Emissions; from the United States Environmental Protection Agency: https://www.epa.gov/ghgemissions/overview-greenhouse-gases September 2022 Investor Presentation 28#292Q22 CAPITAL EXPENDITURES, RELOCATION COSTS & INVESTMENT CONTRIBUTIONS ENLINK MIDSTREAM CAPITAL EFFICIENT FOCUS AND INCREMENTAL DRILLING ACTIVITY DRIVE HIGH-RETURN PROJECTS Segment 2Q22 Permian $44.1 Capex, net to EnLink, Plant Relocation Costs & Investment Contributions² ($MM) Capital Spending by Project Type¹ Net to EnLink ($MM)² ✓ Continued to connect highly accretive wells in Permian and STACK ✓ Project Phantom is underway Capital Spending by Segment¹ Net to EnLink (2Q22) 43% Permian Louisiana $6.3 Oklahoma $13.2 North Texas $8.1 $27 Investment Contributions Corporate $28.5 $20 Plants $7 Crude Connects Total $100.2 $11 -Maintenance 14% Oklahoma 8% North Texas $99MM 6% Louisiana JV Contributions ($1.5) $30 Natural Gas Well Connects Net to EnLink $98.7 29% Corp 2Q22 'Includes $9.4MM and $1.7MM for Permian and Oklahoma, respectively, for relocation costs related to plant relocations classified as operating expenses in accordance with GAAP. 2Contributions of $26.6MM to equity method investments for 2Q22. 2Totals may not sum due to rounding. September 2022 Investor Presentation 29 29#30QUARTERLY VOLUMES (PERMIAN, LOUISIANA) Permian GAS GATHERING ENLINK MIDSTREAM (1,000 MMBtu/d) 1,494 GAS PROCESSING (1,000 MMBtu/d) 1,347 1,201 1,112 1,026 CRUDE (Mbbls/d) 175 1,432 158 150 151 1,256 122 1,139 1,063 958 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22 Louisiana GAS TRANSPORTATION (1,000 MMBtu/d) 2,697 2,498 2,338 2,139 2,014 15 18 CRUDE ORV (Mbbls/d) NGL FRACTIONATION (Mbbls/d) 18 184 189 191 188 168 16 16 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22 Note: Includes volumes associated with non-controlling interests. September 2022 Investor Presentation 30 30#31QUARTERLY VOLUMES (OKLAHOMA, NORTH TEXAS) Oklahoma GAS GATHERING (1,000 MMBtu/d) GAS PROCESSING (1,000 MMBtu/d) 1,016 997 1,018 1,001 1,016 1,040 1,004 1,041 1,030 1,048 24 24 ENLINK MIDSTREAM CRUDE (Mbbls/d) 24 20 20 21 19 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22 North Texas GAS GATHERING (1,000 MMBtu/d) GAS PROCESSING (1,000 MMBtu/d) 1,430 1,377 1,378 1,397 662 1,364 646 628 628 614 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22 September 2022 Investor Presentation 31#32QUARTERLY SEGMENT PROFIT & VOLUMES ENLINK MIDSTREAM $ amounts in millions unless otherwise noted Jun. 30, 2021 Sep. 30, 2021 3 Months Ended Dec. 31, 2021 Mar. 31, 2022 Jun. 30, 2022 Permian Segment Profit Adjusted Gross Margin Processing (MMBtu/d) Crude Oil Handling (Bbls/d) Louisiana Segment Profit $44.0 $69.1 $71.4 $106.4 $73.8 $102.4 $73.0 $112.1 $118.3 $162.4 Gathering and Transportation (MMBtu/d) 1,025,900 1,111,800 1,201,000 1,347,100 1,494,400 958,400 1,062,800 1,139,200 1,256,300 1,432,200 121,900 157,500 150,100 150,700 175,000 $67.3 $63.7 $111.7 $90.5 $89.0 Adjusted Gross Margin $99.0 $94.2 $144.0 $123.5 $123.8 Gathering and Transportation (MMBtu/d) 2,139,300 2,013,900 2,338,400 2,497,700 2,696,500 NGL Fractionation (Bbls/d) 184,000 167,900 188,900 191,300 188,000 Crude Oil Handling (Bbls/d) 15,200 17,600 15,700 15,900 17,700 Brine Disposal (Bbls/d) 2,900 3,300 3,200 3,000 3,200 Oklahoma Segment Profit $85.6 $87.1 $99.4 $85.8 $98.6 Adjusted Gross Margin $103.4 $106.9 $122.1 $106.8 $121.7 Gathering and Transportation (MMBtu/d) 1,016,200 996,900 1,018,100 1,000,700 1,016,100 Processing (MMBtu/d) 1,040,000 1,004,400 1,041,200 1,029,500 1,047,600 Crude Oil Handling (Bbls/d) 23,800 20,000 19,300 23,800 21,400 North Texas Segment Profit $57.9 $60.0 $56.1 $63.0 $66.9 Adjusted Gross Margin $77.8 $79.3 $75.4 $84.6 $87.6 Gathering and Transportation (MMBtu/d) Processing (MMBtu/d) 1,377,400 627,600 1,377,600 627,900 1,397,200 645,700 1,364,000 614,300 1,429,900 661,900 Note: Includes segment profit and volumes associated with non-controlling interests. September 2022 Investor Presentation 32#33AMPLE FINANCIAL FLEXIBILITY ENLINK MIDSTREAM SUBSTANTIAL LIQUIDITY AND LONG-TERM DEBT MATURITY PROFILE PROVIDES FINANCIAL FLEXIBILITY ($MM) Financial Flexibility ✓ Bal BB+ (Positive) / BB+ (Positive) ✓ Leverage ratio of 3.5x ✓ No near-term senior note maturities Revolving Credit Facility $175MM undrawn 175 1,125 325 32% of long-term senior notes mature in 20+ years $1.125Bn undrawn 500 450 700 14 Years 491 500 499 422 350 275 98 2022 2023 2024 2025 2026 Senior Notes 2027 2028 2029 A/R Facility 2030 2031 2032 2033 2034 2044+ Revolving Credit Facility Undrawn Capacity Note: as of June 30, 2022. Amounts shown are pro forma for (i) Crestwood acquisition, which closed on July 1, 2022, (ii) upsizing of A/R Facility to $500MM, which closed on August 1, 2022, and (ii) the issuance of $700MM of Senior Notes due 2030 and the repurchase of an aggregate $700MM of Senior Notes due 2024 and 2025 pursuant a tender offer, both September 2022 Investor Presentation of which closed on August 31, 2022. 33 33#34PRO FORMA CAPITALIZATION ($ in MM) 6/30/22 Cash and cash equivalents, net to EnLink 10.6 $1.4Bn Unsecured Revolving Credit Facility due June 2027 0.0 $500MM A/R Securitization due August 2025 325.0 97.9 421.6 491.0 500.0 498.7 700.0 350.0 ENLK 4.400% Senior unsecured notes due 2024 ENLK 4.150% Senior unsecured notes due 2025 ENLK 4.850% Senior unsecured notes due 2026 ENLC 5.625% Senior unsecured notes due 2028 ENLC 5.375% Senior unsecured notes due 2029 ENLC 6.500% Senior unsecured notes due 2030 ENLK 5.600% Senior unsecured notes due 2044 ENLK 5.050% Senior unsecured notes due 2045 ENLK 5.450% Senior unsecured notes due 2047 Net Debt Series B Preferred Units Series C Preferred Units Members Equity¹ Total Capitalization 450.0 500.0 4,323.6 812.5 400.0 4,152.1 9,688.2 'Based on market value as of June 30, 2022. Unit price: $8.50, Units outstanding: 488,488,051; Common units: 479,825,804; outstanding restricted units: 8,662,247. Note: as of June 30, 2022. Amounts shown are pro forma for (i) Crestwood acquisition, which closed on July 1, 2022, (ii) upsizing of A/R Facility to $500MM, which closed on August 1, 2022, and (iii) the issuance of $700MM of Senior Notes due 2030 and the repurchase of an aggregate $700MM of Senior Notes due 2024 and 2025 pursuant a tender offer, both of which closed on August 31, 2022. ENLINK MIDSTREAM September 2022 Investor Presentation 34#35ENLINK ORGANIZATIONAL STRUCTURE Class C Unitholders' Series C Pref. Unitholders Public ENLC Holders -10% non- economic interest -48% EnLink Midstream, LLC NYSE: ENLC Global Infrastructure Partners (GIP) ~42% ENLINK MIDSTREAM Non-economic managing interest EnLink Midstream Manager, LLC EnLink Midstream Partners, LP Series B. Pref. Unitholders' Operating Assets Note: The ownership percentages are based upon June 30, 2022 data. 'Series B Preferred Units are convertible into ENLC units. ENLC ownership interests are shown for voting purposes and include the ENLC Class C units that the Series B Preferred unitholders received for voting purposes only. September 2022 Investor Presentation 35 35#36UPDATED 2022 GUIDANCE RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA, DISTRIBUTABLE CASH FLOW AND FREE CASH FLOW AFTER DISTRIBUTIONS Updated 2022 Outlook (1) As of Aug 3, 2022 $410 ENLINK MIDSTREAM Net income of EnLink (2) Interest expense, net of interest income Depreciation and amortization Income from unconsolidated affiliate investments Distribution from unconsolidated affiliate investments Unit-based compensation Income taxes Plant relocation costs (3) Other (4) Adjusted EBITDA before non-controlling interest Non-controlling interest share of adjusted EBITDA (5) Adjusted EBITDA, net to EnLink Interest expense, net of interest income Maintenance capital expenditures, net to EnLink (6) Preferred unit accrued cash distributions (7) Other (8) Distributable cash flow Common distributions declared Growth capital expenditures, net to EnLink & plant relocation costs (3) (6) Contribution to investment in unconsolidated affiliates Free cash flow after distributions 217 604 (2) 1 21 54 45 (5) 1,345 (75) 1,270 (217) (45) (91) (12) 905 (220) (315) (70) $300 1) Represents the forward-looking net income guidance of EnLink Midstream, LLC for the year ended December 31, 2022. The forward-looking net income guidance excludes the potential impact of gains or losses on derivative activity, gains or losses on disposition of assets, impairment expense, gains or losses as a result of legal settlements, gains or losses on extinguishment of debt, the financial effects of future acquisitions, proceeds from the sale of equipment, and repurchases of common units or ENLK Series B Preferred Units. The exclusion of these items is due to the uncertainty regarding the occurrence, timing and/or amount of these events. 2) Net income includes estimated net income attributable to (i) NGP Natural Resources XI, L.P.'s ("NGP") 49.9% share of net income from the Delaware Basin JV, (ii) Marathon Petroleum Corp.'s ("Marathon") 50% share of net income from the Ascension JV. 3) Includes operating expenses that are not part of our ongoing operations incurred related to the relocation of equipment and facilities from the Thunderbird processing plant in the Oklahoma segment to the Permian segment. 4) Includes (i) estimated accretion expense associated with asset retirement obligations and (ii) estimated non-cash rent, which relates to lease incentives pro-rated over the lease term. 5) Non-controlling interest share of adjusted EBITDA includes estimates for (i) NGP's 49.9% share of adjusted EBITDA from the Delaware Basin JV, (ii) Marathon's 50% share of adjusted EBITDA from the Ascension JV. 6) Excludes capital expenditures that are contributed by other entities and relate to the non-controlling interest share of our consolidated entities. 7) Represents the cash distributions earned by the ENLK Series B Preferred Units and ENLK Series C Preferred Units. Cash distributions to be paid to holders of the ENLK Series B Preferred Units and ENLK Series C Preferred Units are not available to common unitholders. 8) Includes non-cash interest (income)/expense and current income tax (income)/expense. September 2022 Investor Presentation 36#37PREVIOUSLY ISSUED 2022 GUIDANCE RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA, DISTRIBUTABLE CASH FLOW AND FREE CASH FLOW AFTER DISTRIBUTIONS ENLINK MIDSTREAM Net income of EnLink (2) Interest expense, net of interest income Depreciation and amortization Income from unconsolidated affiliate investments Distribution from unconsolidated affiliate investments Unit-based compensation Income taxes Plant relocation costs (3) Other (4) Adjusted EBITDA before non-controlling interest Non-controlling interest share of adjusted EBITDA (5) Adjusted EBITDA, net to EnLink Interest expense, net of interest income Maintenance capital expenditures, net to EnLink (6) Preferred unit accrued cash distributions (7) Distributable cash flow Common distributions declared Growth capital expenditures, net to EnLink & plant relocation costs (3) (6) Free cash flow after distributions 2022 Outlook (1) As of Feb 15, 2022 $270 216 604 (2) 1 21 54 45 (2) 1,207 (57) 1,150 (217) (60) (95) 778 (218) (245) $315 1) Represents the forward-looking net income guidance of EnLink Midstream, LLC for the year ended December 31, 2022. The forward-looking net income guidance excludes the potential impact of gains or losses on derivative activity, gains or losses on disposition of assets, impairment expense, gains or losses as a result of legal settlements, gains or losses on extinguishment of debt, the financial effects of future acquisitions, proceeds from the sale of equipment, and repurchases of common units or ENLK Series B Preferred Units. The exclusion of these items is due to the uncertainty regarding the occurrence, timing and/or amount of these events. 2) Net income includes estimated net income attributable to (i) NGP Natural Resources XI, L.P.'s ("NGP") 49.9% share of net income from the Delaware Basin JV, (ii) Marathon Petroleum Corp.'s ("Marathon") 50% share of net income from the Ascension JV. 3) Includes operating expenses that are not part of our ongoing operations incurred related to the relocation of equipment and facilities from the Thunderbird processing plant in the Oklahoma segment to the Permian segment. 4) Includes (i) estimated accretion expense associated with asset retirement obligations and (ii) estimated non-cash rent, which relates to lease incentives pro-rated over the lease term. 5) Non-controlling interest share of adjusted EBITDA includes estimates for (i) NGP's 49.9% share of adjusted EBITDA from the Delaware Basin JV, (ii) Marathon's 50% share of adjusted EBITDA from the Ascension JV. 6) Excludes capital expenditures that are contributed by other entities and relate to the non-controlling interest share of our consolidated entities. 7) Represents the cash distributions earned by the ENLK Series B Preferred Units and ENLK Series C Preferred Units. Cash distributions to be paid to holders of the ENLK Series B Preferred Units and ENLK Series C Preferred Units are not available to common unitholders. September 2022 Investor Presentation 37#38RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO ADJUSTED EBITDA AND FREE CASH FLOW AFTER DISTRIBUTIONS ENLINK MIDSTREAM Three Months Ended 6/30/2021 Net cash provided by operating activities Interest expense (1) $176.4 55.6 9/30/2021 $197.0 55.1 12/31/2021 $258.1 54.4 3/31/2022 $307.7 6/30/2022 $174.9 53.7 54.2 Payments to terminate interest rate swaps (2) 1.3 0.5 Utility credits (redeemed) earned (3) 3.4 (5.6) (5.6) (5.6) (6.0) Accruals for settled commodity swap transactions (2.6) (2.1) 6.7 (2.2) 0.6 Distributions from unconsolidated affiliate investment in excess of earnings 0.1 0.1 0.1 0.2 0.2 Costs associated with the relocation of processing facilities (4) Other (5) 10.2 8.8 1.7 11.3 11.1 1.4 (0.2) 1.7 1.7 Changes in operating assets and liabilities, which (provided) used cash: Accounts receivable, accrued revenues, inventories, and other 91.7 167.6 (3.3) 172.7 137.2 Accounts payable, accrued product purchases, and other accrued liabilities (67.7) (153.2) (11.8) (222.6) (53.4) Adjusted EBITDA before non-controlling interest 269.8 268.0 300.3 316.9 320.5 Non-controlling interest share of adjusted EBITDA from joint ventures (6) (12.3) (11.6) (13.9) (12.6) (20.8) Adjusted EBITDA, net to ENLC Growth capital expenditures, net to ENLC (7) 257.5 256.4 286.4 304.3 299.7 (40.0) (33.2) (76.2) (40.5) (49.9) Maintenance capital expenditures, net to ENLC (7) (7.5) (6.9) (7.0) (13.9) (11.1) Interest expense, net of interest income (60.0) (60.1) (58.6) (55.1) (55.5) Distributions declared on common units (46.7) (46.6) (55.2) (55.5) (54.6) ENLK preferred unit accrued cash distributions (8) (23.0) (23.0) (25.3) (23.5) (23.3) Relocation costs associated with the relocation of processing facility (4) (10.2) (8.8) (1.7) (11.3) (11.1) Contributions to unconsolidated affiliate investments (26.6) Non-cash interest expense 2.4 2.7 2.2 Payments to terminate interest rate swaps (2) (1.3) (0.5) Other (9) Free cash flow after distributions 0.3 $71.5 0.5 $80.5 2.8 $67.4 0.4 (0.1) $104.9 $67.5 1) Net of amortization of debt issuance costs and discount and premium, which are included in interest expense, but not included in net cash provided by operating activities, and non-cash interest income/(expense), which is netted against interest expense, but not included in adjusted EBITDA. 2) Represents cash paid for the early terminations of our interest rate swaps due to the partial repayments of the Term Loan in May and September 2021. 3) Under our utility agreements, we are entitled to a base load of electricity and pay or receive credits, based on market pricing, when we exceed or do not use the base load amounts. 4) Represents cost incurred that are not part of our ongoing operations related to the relocation of equipment and facilities from the Thunderbird processing plant and Battle Ridge processing plant in the Oklahoma segment to the Permian segment. The relocation of equipment and facilities from the Battle Ridge processing plant was completed in the third quarter of 2021 and we expect to complete the relocation of equipment and facilities from the Thunderbird processing plant in the fourth quarter of 2022 5) Includes current income tax expense; transaction costs; and non-cash rent, which relates to lease incentives pro-rated over the lease term. 6) Non-controlling interest share of adjusted EBITDA from joint ventures includes NGP's 49.9% share of adjusted EBITDA from the Delaware Basin JV, Marathon Petroleum Corporation's 50.0% share of adjusted EBITDA from the Ascension JV. 7) Excludes capital expenditures that were contributed by other entities and relate to the non-controlling interest share of our consolidated entities. 8) Represents the cash distributions earned by the Series B Preferred Units and Series C Preferred Units, which are not available to common unitholders. 9) Includes current income tax expense and proceeds from the sale of surplus or unused equipment and land, which occurred in the normal operation of our business and did not include major divestitures. September 2022 Investor Presentation 38#39RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA AND FREE CASH FLOW AFTER DISTRIBUTIONS ENLINK MIDSTREAM Net income (loss) Interest expense, net of interest income Depreciation and amortization Impairments Loss from unconsolidated affiliates Distributions from unconsolidated affiliates (Gain) loss on disposition of assets Loss on extinguishment of debt Unit-based compensation Income tax expense (benefit) Unrealized (gain) loss on commodity swaps Other (2) 06/30/2021 $9.4 09/30/2021 $32.3 Three Months Ended 12/31/2021 $88.6 03/31/2022 60.0 60.1 58.6 $66.0 55.1 06/30/2022 $123.9 55.5 151.9 153.0 151.6 152.9 159.0 0.8 1.3 2.3 1.6 1.1 1.2 0.1 0.1 0.1 0.2 0.2 (0.3) (0.4) (0.8) 5.1 (0.4) 0.5 6.4 6.4 6.0 6.6 5.7 6.6 4.4 13.0 3.2 (1.3) 23.8 1.2 Costs associated with the relocation of processing facilities (1) 10.2 8.8 28 (20.5) 15. (35.3) 1.7 11.3 11.1 0.4 (0.2) (0.4) 0.3 0.4 Adjusted EBITDA before non-controlling interest 269.8 268.0 300.3 316.9 320.5 Non-controlling interest share of adjusted EBITDA from joint ventures (3) (12.3) (11.6) (13.9) (12.6) (20.8) Adjusted EBITDA, net to ENLC 257.5 256.4 286.4 304.3 299.7 Growth capital expenditures, net to ENLC (4) (40.0) (33.2) (76.2) (40.5) (49.9) Maintenance capital expenditures, net to ENLC (4) (7.5) (6.9) (7.0) (13.9) (11.1) Interest expense, net of interest income (60.0) (60.1) (58.6) (55.1) (55.5) Distributions declared on common units Partial termination of interest rate swap (6) (46.7) (46.6) (55.2) (55.5) (54.6) ENLK preferred unit accrued cash distributions (5) (23.0) (23.0) (25.3) (23.5) (23.3) (1.3) (0.5) Costs associated with relocation of processing facilities (1) (10.2) (8.8) (1.7) (11.3) (11.1) Contributions to unconsolidated affiliate investments (26.6) Non-cash interest expense Other (7) Free cash flow after distributions 2.4 0.3 $71.5 2.7 0.5 $80.5 2.2 2.8 $67.4 0.4 $104.9 (0.1) $67.5 1) Represents cost incurred related to the relocation of equipment and facilities from the Thunderbird processing plant and Battle Ridge processing plant, in the Oklahoma segment, to the Permian segment that are not part of our ongoing operations. The relocation of equipment and facilities from the Battle Ridge processing plant was completed in the third quarter of 2021 and we expect to complete the relocation of equipment and facilities from the Thunderbird processing plant in fourth quarter of 2022. 2) Includes transaction costs, non-cash expense related to changes in the fair value of a contingent consideration, accretion expense associated with asset retirement obligations and non-cash rent, which relates to lease incentives pro-rated over the lease term. 3) Non-controlling interest share of adjusted EBITDA from joint ventures includes NGP Natural Resources XI, L.P.'s ("NGP") 49.9% share of adjusted EBITDA from the Delaware Basin JV, Marathon Petroleum Corporation's 50% share of adjusted EBITDA from the Ascension JV 4) Excludes capital expenditures that were contributed by other entities and relate to the non-controlling interest share of our consolidated entities. 5) Represents the cash distributions earned by the Series B Preferred Units and Series C Preferred Units, which are not available to common unitholders. 6) Represents cash paid for the early terminations of our interest rate swaps due to the partial repayments of the Term Loan in May and September 2021. 7) Includes current income tax expense, and proceeds from the sale of surplus or unused equipment and land, which occurred in the normal operation of our business and did not include major divestitures. September 2022 Investor Presentation 39#40RECONCILIATION OF GROSS MARGIN TO ADJUSTED GROSS MARGIN ENLINK MIDSTREAM Permian Louisiana Oklahoma North Texas Corporate Totals Q2 2022 Gross margin $75.0 $49.6 $46.3 $38.2 $(1.5) $207.6 Depreciation and amortization 37.1 39.4 52.3 28.7 1.5 159.0 Segment profit (loss) 112.1 89.0 98.6 66.9 366.6 Operating expenses 50.3 34.8 23.1 20.7 128.9 Adjusted gross margin $162.4 $123.8 $121.7 $87.6 $- $495.5 Q1 2022 Gross margin $36.3 $55.0 $34.9 $34.6 $(1.4) $159.4 Depreciation and amortization 36.7 35.5 50.9 28.4 1.4 152.9 Segment profit (loss) 73.0 90.5 85.8 63.0 312.3 Operating expenses 45.3 33.0 21.0 21.6 120.9 Adjusted gross margin $118.3 $123.5 $106.8 $84.6 $- $433.2 Q4 2021 Gross margin $37.4 $77.5 $48.7 $27.8 $(2.0) $189.4 Depreciation and amortization 36.4 34.2 50.7 28.3 2.0 151.6 Segment profit (loss) 73.8 111.7 99.4 56.1 341.0 Operating expenses 28.6 32.3 22.7 19.3 102.9 Adjusted gross margin $102.4 $144.0 $122.1 $75.4 $ - $443.9 Q3 2021 Gross margin $33.7 $29.1 $34.8 $31.5 $(2.2) $126.9 Depreciation and amortization 35.4 34.6 52.3 28.5 2.2 153.0 Segment profit (loss) 69.1 63.7 87.1 60.0 279.9 Operating expenses 37.3 30.5 19.8 19.3 106.9 Adjusted gross margin $106.4 $94.2 $106.9 $79.3 $386.8 Q2 2021 Gross margin $9.4 $31.2 $35.0 $29.1 $(1.8) $102.9 Depreciation and amortization 34.6 36.1 50.6 28.8 1.8 151.9 Segment profit (loss) 44.0 67.3 85.6 57.9 254.8 Operating expenses 27.4 31.7 17.8 19.9 96.8 Adjusted gross margin $71.4 $99.0 $103.4 $77.8 $351.6 September 2022 Investor Presentation 40#41REALIZED AND UNREALIZED DERIVATIVE GAIN/(LOSS) ACTIVITY BY SEGMENT ENLINK Permian Louisiana Oklahoma North Texas Totals Q2 2022 Realized Unrealized Q1 2022 $(10.2) $(2.5) $(15.8) $(2.3) $(30.8) $12.5 $11.8 $8.2 $2.8 $35.3 Realized $(2.4) $(6.6) $(3.7) $(3.4) $(16.1) Unrealized $(5.9) $(5.6) $(7.1) $3.5 $(15.1) Q4 2021 Realized $(5.8) $(10.3) $(6.9) $(1.4) $(24.4) Unrealized $(4.7) $19.3 $9.4 $(3.5) $20.5 Q3 2021 Realized $(8.7) $(14.9) $(6.8) $(2.0) $(32.4) Unrealized $10.2 $(8.8) $(2.3) $(0.3) $(1.2) Q2 2021 Realized $(4.2) $(6.4) $(2.9) $(0.9) $(14.4) Unrealized $(7.9) $(9.4) $(5.3) $(1.2) $(23.8) MIDSTREAM September 2022 Investor Presentation 41#42NON-GAAP FINANCIAL INFORMATION, OTHER DEFINITIONS & NOTES ENLINK MIDSTREAM This presentation contains non-generally accepted accounting principles (GAAP) financial measures that we refer to as Adjusted Gross Margin, adjusted EBITDA, and free cash flow after distributions. Each of the foregoing measures is defined below. EnLink Midstream believes these measures are useful to investors because they may provide users of this financial information with meaningful comparisons between current results and prior-reported results and a meaningful measure of EnLink Midstream's cash flow after satisfaction of the capital and related requirements of their respective operations. Adjusted EBITDA achievement is also a primary metric used in the ENLC credit facility and adjusted EBITDA and free cash flow after distributions are both used as metrics in EnLink's short-term incentive program for compensating its employees. The referenced non-GAAP measurements are not measures of financial performance or liquidity under GAAP. They should not be considered in isolation or as an indicator of EnLink Midstream's performance. Furthermore, they should not be seen as a substitute for metrics prepared in accordance with GAAP. Reconciliations of these measures to their most directly comparable GAAP measures for the periods that are presented in this presentation are included in the Appendix to this presentation. See ENLC's filings with the Securities and Exchange Commission for more information. The payment and amount of distributions is subject to approval by the Board of Directors and to economic conditions and other factors existing at the time of determination. Definitions of non-GAAP measures used in this presentation: 1) Adjusted Gross Margin is revenue less cost of sales, exclusive of operating expenses and depreciation and amortization. 2) 3) Adjusted EBITDA is net income (loss) plus (less) interest expense, net of interest income; depreciation and amortization; impairments; (income) loss from unconsolidated affiliate investments; distributions from unconsolidated affiliate investments; (gain) loss on disposition of assets; (gain) loss on extinguishment of debt; unit-based compensation; income tax expense (benefit); unrealized (gain) loss on commodity swaps; transaction costs; costs associated with the relocation of processing facilities; accretion expense associated with asset retirement obligations; non-cash expense related to changes in the fair value of a contingent consideration; (non-cash rent); and (non-controlling interest share of adjusted EBITDA from joint ventures). Adjusted EBITDA, net to ENLC, is after non-controlling interest. Free cash flow after distributions (FCFAD) as adjusted EBITDA, net to ENLC, plus (less) (growth and maintenance capital expenditures, excluding capital expenditures that were contributed by other entities and relate to the non-controlling interest share of our consolidated entities); (interest expense, net of interest income); (distributions declared on common units); (accrued cash distributions on Series B Preferred Units and Series C Preferred Units paid or expected to be paid); (costs associated with the relocation of processing facilities); (payments to terminate interest rate swaps); non-cash interest (income)/expense; (contributions to investment in unconsolidated affiliates); (current income taxes); and proceeds from the sale of equipment and land. September 2022 Investor Presentation 42#43NON-GAAP FINANCIAL INFORMATION, OTHER DEFINITIONS & NOTES (CONT.) Other definitions and explanations of terms used in this presentation: ENLINK MIDSTREAM 1) ENLK Series B Preferred Units means Series B Cumulative Convertible Preferred Units of EnLink Midstream Partners, LP (ENLK), which are exchangeable into ENLC common units on a 1-for-1.15 basis, subject to certain adjustments. 2) 3) 4) 5) 6) 7) 8) 9) Distributable cash flow (DCF) - adjusted EBITDA, net to ENLC, plus (less) (interest expense, net of interest income); (maintenance capital expenditures, excluding maintenance capital expenditures that were contributed by other entities and relate to the non-controlling interest share of our consolidated entities); (accrued cash distributions on Series B Preferred Units and Series C Preferred Units paid or expected to be paid); (payments to terminate interest rate swaps); noncash interest (income)/expense; and (current income taxes). Class C Units means a class of non-economic ENLC common units held by Enfield Holdings, L.P. (Enfield) equal to the number of ENLK Series B Preferred Units held by Enfield, in order to provide Enfield with certain voting rights with respect to ENLC. ENLK Series C Preferred Units means Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units of ENLK. Growth capital expenditures (GCE) generally include capital expenditures made for acquisitions or capital improvements that we expect will increase our asset base, operating income or operating capacity over the long-term. Maintenance capital expenditures (MCX) include capital expenditures made to replace partially or fully depreciated assets in order to maintain the existing operating capacity of the assets and to extend their useful lives. Segment profit (loss) is defined as revenues, less cost of sales (exclusive of operating expenses and depreciation and amortization), less operating expenses. Gathering is defined as a pipeline that transports hydrocarbons from a production facility to a transmission line or processing facility. Transportation is defined to include pipelines connected to gathering lines or a facility. Gathering and transportation are referred to as "G&T." Gathering and processing are referred to as "G&P." Bcf/d is defined as billion cubic feet per day; MMcf/d is defined as million cubic feet per day; BBL/d is defined as barrels per day; Mbbls/d is defined as thousand barrels per day; NGL is defined as natural gas liquids 10) Year-over-year and YoY is one calendar year as compared to the previous calendar year. 11) GIP is defined as Global Infrastructure Partners. 12) The Delaware Basin JV is a joint venture between EnLink and an affiliate of NGP in which EnLink owns a 50.1% interest and NGP owns a 49.9% interest. The Delaware Basin JV, which was formed in August 2016, owns the Lobo processing facilities and the Tiger processing plant located in the Delaware Basin in Texas. 13) The Ascension JV is a joint venture between a subsidiary of EnLink and a subsidiary of Marathon Petroleum Corporation in which EnLink owns a 50% interest and Marathon Petroleum Corporation owns a 50% interest. The Ascension JV, which began operations in April 2017, owns an NGL pipeline that connects EnLink's Riverside fractionator to Marathon Petroleum Corporation's Garyville refinery. 14) CCS is defined as carbon capture and storage September 2022 Investor Presentation 43#44ENLINK MIDSTREAM For more information, visit http://investors.enlink.com INTEGRITY | INNOVATION | SAFETY PEOPLE EXCELLENCE