Antero Midstream Partners Investor Presentation Deck

Antero Hedge Position Antero has 100% of its gas production hedged in 2019 and 55% to 60% hedged in 2020 at ~$3.00/MMbtu Antero Hedge Profile(¹) (MMcf/d) 2,500 2,000 1,500 1,000 500 2,330 $3.44 $2.93 $2.50 1,149 2019 1) Based on 2/01/2019 NYMEX Henry Hub strip pricing. NYMEX Collar Volume -NYMEX Swap Price $3.00 $2.72 1,418 1,418 2020 $3.00 $2.61 710 710 2021 INYMEX Swap Volume NYMEX Strip Price $3.00 $2.63 850 850 2022 $2.91 $2.71 90 90 2023 ($/MMBtu) $4.00 $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $0.00 21

View entire presentation