Antero Midstream Partners Investor Presentation Deck

Prolific Underlying Resource Underpins Growth Antero Resources holds 40% of the core undrilled liquids-rich locations in Appalachia with attractive economics and low breakeven prices New York Appalachian Leasehold Position Antero Rig Marcellus industry Rig Utica Industry Rig Chesapeake CNX ZUMBARDEA Utica Shale Core Area MİLMEK PUTNAM Ohio Utica Shale Liquids-Rich Fairway SAARANTA) (300CTU EQT Gulfport BLAT PannEnergy Range PA AABAA 1100 BTU nis DOD A0221 West Virginia Kampanje Marcellus Shale Liquids-Rich Fairway 1100 BTU BURLER / Pittsburgh Metro Area ALLE SMERT AVAL AAAA GAMBETT Marcellus Shale Core Areas - Virginia ANTERO RESOURCES | FEBRUARY 2019 PRESENTATION BANNER A Agen Patien CENTUR Pennsylvania K 7% 3100BTU D 7% Core Liquids-Rich Appalachian Undrilled Locations (1) C 13% I 7% CATALANA) J F B H 5% 3% 2% 3% A 13% AR 40% Peers include Ascent, CHK, CNX, COG, CVX, EQT, GPOR, HG, RRC and SWN. Based on Antero analysis of undeveloped acreage in the core of the Marcellus and Ohio Utica Shales Rigs as of 2/1/2019. Locations as of 9/30/18 18

View entire presentation