Investor Presentaiton

Pure-play Permian midstream company positioned for growth KINETIK Extensive Delaware in-basin gathering system in Texas and New Mexico feeds downstream pipeline assets Opportunistically primed for future Permian growth • • Fourth largest processor in the Permian Basin ~2 Bcfpd processing capacity Fee-based crude and water gathering businesses complement gas business Winkler Ward • Diversified customer base (~35 customers) provides stable earnings Significant Delaware market share and integrated pipeline footprint to benefit from supply-push and demand-pull fundamentals • • PHP and GCX provide important feedstock supply to demand-pull, export infrastructure (e.g., LNG, pipeline exports to Mexico) Shin Oak provides needed NGL supply to rapidly growing Gulf Coast petchem industry and LPG / ethane export terminals Geographically advantaged vs. other L48 basins for crude, gas and NGLS Permian contributed 100% of L48 crude supply growth since April 2020(1) ■ Inelastic associated gas supply due to oil-directed drilling Business is supported by stable sources of earnings and cash flow ~95% of 2024E gross profit from fee-based agreements and hedges(2) • ■ Built-in fee escalators in underlying contracts protect against inflation Investment grade and "rising star" parties are -80% of gross profit(3) Average contract life of ~9 years with no near-term expirations(4) Kinetik Plant Kinetik Pipelines EPIC Crude Gulf Coast Express Permian Highway Shin Oak Kinetik Area of Dedication Energy Markets LNG Projects 2024E EBITDA (5) 60% Midstream Logistics (1) (2) (3) (4) (5) Source: EIA DPR as of January 12th, 2024. As of March 6th, 2024. Includes two months of realized pricing for January and February 2024. Rising star counterparties include counterparties with at least a rating of BB+/Ba1 from two of three agencies (S&P, Moody's, Fitch). Weighted average contract life. A non-GAAP measure. See "Non-GAAP Financial Measures Reconciliation." Jeff Davis Waha Hub Mont Belvieu Katy Port Arthur LNG Sabine Houston Central Agua Dulce Cheniere CCL Corpus Christi Next Decade Rio Grande LNG Exports to Mexico Freeport LNG Freeport Pass Global LNG and ethane / LPG exports 40% Pipeline Transportation 54% 6% 30% 7% 3% ■Gas G&P ■Crude & Water Gathering ■Gas Pipes ■NGL Pipes ■Crude Pipes 3

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