Asset and Organic Growth Investments
Financing Plan
Path to de-lever and liquidity to execute plan
Capital Allocation and Liquidity
ETRN annual dividend of $0.60 per common share designed
to achieve key objectives (1):
.
•
•
Generate positive retained free cash flow to reduce debt
Achieve long-term target leverage of <4.0x
EQM $2.25 B revolver provides liquidity and flexibility
Reduced revolver size in April 2021 from $3 B to $2.25 B
to better align with liquidity needs going forward
Funding Plan
€
Current project backlog expected to be funded with
revolver borrowings and free cash flow (1)
Expect to issue MVP JV level debt after in-service
EQM Credit Ratings:
BB- (S&P), BB (Fitch), Ba3 (Moody's)
Manageable Consolidated Debt Maturity Schedule ($MM)
$1,200
$1,000
$800
$600
$400
$200
$0
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
2047 2048
(1) Leverage ratio is ETRN consolidated debt/(adjusted EBITDA + deferred revenue). See slide 28 for important information regarding the non-GAAP financial measures adjusted EBITDA, free cash flow and retained
free cash flow. See slide 27 for important information regarding forward-looking statements.
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