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Investor Presentaiton

Forward looking statements KINETIK This presentation includes certain statements that may constitute "forward-looking statements" for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words "anticipate,” “believe,” “continue," "could," "estimate," "expect," "intends,” “may,” “might,” “plan,” “seeks," "possible," "potential,” “predict," "project," "prospects," "guidance," "outlook," "should," "would," "will," and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about the Company's future plans, expectations, and objectives for the Company's operations, including statements about strategy, synergies, portfolio monetization opportunities, expansion projects, acquisitions and divestitures, and future operations, 2023 financial guidance, 2023 annualized guidance, and 2024 guidance; ESG and sustainability-related goals, strategies and initiatives and plans related thereto, including, among others, those relating to diversity, equity, and inclusion, reducing greenhouse gas emissions, including our 2050 Scope 1 and Scope 2 net zero goal and our interim 2030 targets thereto, environmental management, renewable energy and energy efficiency, waste management, biodiversity, safety and asset integrity, health and safety, and community investment and engagement; the Company's share repurchase program and the projected timing, purchase price and number of shares purchased under such program, if at all; projected dividend amounts and the timing thereof; the Company's leverage and financial profile and its ability to improve its credit ratings. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement made by us in this presentation speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future development, or otherwise, except as may be required by law. USE OF PROJECTIONS This presentation contains projections for Kinetik, including with respect to Kinetik's adjusted EBITDA, capital expenditures, net debt, leverage, and processed gas volumes. Kinetik's independent auditors have not audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this presentation, and accordingly, have not expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this presentation. These projections are for illustrative purposes only, should not be relied upon as being necessarily indicative of future results, and are subject to the disclaimers under "Forward Looking Statements" above. USE OF NON-GAAP FINANCIAL MEASURES This presentation includes non-GAAP financial measures, including adjusted EBITDA, capital expenditures, distributable cash flow, free cash flow, net debt, dividend coverage ratio, and leverage. Kinetik believes these non-GAAP measures are useful because they allow Kinetik to more effectively evaluate its operating performance and compare the results of its operations from period to period and against its peers without regard to financing methods or capital structure. Kinetik does not consider these non-GAAP measures in isolation or as an alternative to similar financial measures determined in accordance with GAAP. The computations of adjusted EBITDA, capital expenditures, distributable cash flow, free cash flow, net debt, dividend coverage ratio, and leverage may not be comparable to other similarly titled measures of other companies. Kinetik excludes certain items from net (loss) income in arriving at Adjusted EBITDA and distributable cash flow because these amounts can vary substantially from company to company within its industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Adjusted EBITDA and distributable cash flow should not be considered an alternative to, or more meaningful than, net income as determined in accordance with GAAP or as indicators of operating performance. Certain items excluded from Adjusted EBITDA and distributable cash flow are significant components in understanding and assessing a company's financial performance, such as a company's cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are components of Adjusted EBITDA or distributable cash flow. Kinetik's presentation of Adjusted EBITDA, capital expenditures, distributable cash flow, free cash flow, net debt, dividend coverage ratio, and leverage should not be construed as an inference that its results will be unaffected by unusual or non- recurring terms. See "Notes Regarding Presentation of Financial Information." For reconciliation, see appendix. This presentation also includes certain forward-looking non-GAAP financial information. Reconciliations of these forward-looking non-GAAP measures to their most directly comparable GAAP measure are not available without unreasonable efforts. This is due to the inherent difficulty of forecasting the timing or amount of various reconciling items that would impact the most directly comparable forward-looking GAAP financial measure, that have not yet occurred, are out of Kinetik's control and/or cannot be reasonably predicted. Accordingly, such reconciliation is excluded from this presentation. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. 2
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