Baird Investment Banking

STATUS QUO ANTERO MIDSTREAM (CONT.) Growth Capex ($ in millions) $776 $705 ¹19E Source: Antero management. $656 $744 *20E $386 $308 ¹21E Prior Base Case Total Capex (19-22) Prior Revised $294 $2,112 $1,870 $113 '22E Revised Base Case Leverage Net Debt/LTM EBITDA 2.3x 2.5x '19E 2.3x 2.6x ¹20E Treliminar Draft 2.1x 2.4x '21E 2.0x '22E Project Bronco BAIRD 2.2x Page 4

View entire presentation