Investor Presentaiton

2024 Guidance and assumptions Key expectations and sensitivities reflected in full year Guidance 2024 Financial Guidance KINETIK 2024 Commodity Price Sensitivities(4) Range ($mm) Midpoint ($mm) % YoY(3) Commodity Price Input % Change in Potential Impact Price to EBITDA (1) Adjusted EBITDA(1) $905 - $960 $933 11% WTI ($/Bbl) ~$76 Capital Expenditures(2) $125 - $165 $145 (72%) Natural Gas ($/MMBtu at Houston Ship Channel) NGLS ($/Gal) ~$2 +/- 10% +/- $7mm ~$0.60 Volume Assumptions 2024E Gross Profit Sources 2023A %YoY 2024E Growth Expectations Permian Production (5) Natural Gas 12% Crude Oil 9% Mid-to-high single digit Low-to-mid single digit Fixed Fee 90% Kinetik O Hedged Commodity (6) 5% Unhedged Commodity 5% Natural Gas 21% Low-double digit Crude Oil Produced Water (21%) 80% Low-single digit Current 2024E unhedged commodity-linked Gross Profit is 5% Mid-single digit (1) (2) (3) A non-GAAP measure. See "Non-GAAP Financial Measures Reconciliation." Capital contribution at JV Pipes will be categorized as "Investment in unconsolidated affiliates" in Kinetik's financials. JV Pipe capital contributions included in Kinetik's Capital Expenditures Guidance for simplicity. Year-over-year growth as compared to the midpoint of 2024 Financial Guidance. (4) Assumes pricing as of February 16th, 2024. Sensitivity applied for March through December 2024. (5) Source: EIA DPR as of January 12th, 2024. (6) Hedged commodity includes two months of realized pricing for January and February 2024. 8

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