
	Midstream Logistics		Pipeline Transportation		Corporate and Other(1)		Elimination		Consolidated

For the three months ended September 30, 2025	(In thousands)
Revenue	$	458,621	$	2,325	$	—	$	—	$	460,946
Other revenue	3,021		2		—		—		3,023
Intersegment revenue(2)	—		5,793		—		(5,793)		—
Total segment operating revenue	461,642		8,120		—		(5,793)		463,969
Costs of sales (excluding depreciation and amortization expense)	(236,001)		610		—		—		(235,391)
Intersegment costs of sales	(5,793)		—		—		5,793		—
Operating expenses(3)	(82,486)		(750)		—		—		(83,236)
General and administrative expenses	(6,610)		(241)		(23,245)		—		(30,096)
Proportionate EMI EBITDA	—		87,715		—		—		87,715
Other segment items(4)	20,606		—		19,067		—		39,673
Segment Adjusted EBITDA(5)	$	151,358	$	95,454	$	(4,178)	$	—	$	242,634

Reconciliation of Segment Adjusted EBITDA to income before income taxes
Segment Adjusted EBITDA(5)	$	151,358	$	95,454	$	(4,178)	$	—	$	242,634
Add back:
Other interest income	—		—		166		—		166



Equity in earnings of unconsolidated affiliates	—		58,289		—		—		58,289
Deduct:
Interest expense	37		—		61,684		—		61,721
Depreciation and amortization expenses	93,095		2,308		6		—		95,409
Contract assets amortization	1,744		—		—		—		1,744
Proportionate EMI EBITDA	—		87,715		—		—		87,715
Share-based compensation	—		—		14,229		—		14,229
Loss on disposal of assets, net	50		—		—		—		50
Commodity hedging unrealized loss	6,485		—		—		—		6,485

Contingent liabilities fair value adjustment	5,700		—		—		—		5,700
Integration costs	6,552		—		98		—		6,650
Acquisition / divestiture transaction costs	—		—		812		—		812
Other one-time costs or amortization	(12)		—		3,928		—		3,916
Income (loss) before income taxes	$	37,707	$	63,720	$	(84,769)	$	—	$	16,658


	Midstream Logistics		Pipeline Transportation		Corporate and Other(1)		Elimination		Consolidated

For the three months ended September 30, 2024	(In thousands)
Revenue	$	391,331	$	2,192	$	—	$	—	$	393,523
Other revenue	2,837		2		—		—		2,839
Intersegment revenue(2)	—		6,748		—		(6,748)		—
Total segment operating revenue	394,168		8,942		—		(6,748)		396,362
Costs of sales (excluding depreciation and amortization expense)	(144,648)		62		—		—		(144,586)
Intersegment costs of sales	(6,748)		—		—		6,748		—
Operating expenses(3)	(61,010)		(690)		—		—		(61,700)
General and administrative expenses	(6,542)		(409)		(22,668)		—		(29,619)
Proportionate EMI EBITDA	—		88,229		—		—		88,229
Other segment items(4)	(1,597)		—		18,594		—		16,997
Segment Adjusted EBITDA(5)	$	173,623	$	96,134	$	(4,074)	$	—	$	265,683

Reconciliation of Segment Adjusted EBITDA to income before income taxes
Segment Adjusted EBITDA(5)	$	173,623	$	96,134	$	(4,074)	$	—	$	265,683
Add back:
Other interest income	—		—		572		—		572

Gain on sale of equity method investment	—		29,953		—		—		29,953
Commodity hedging unrealized gain	8,817		—		—		—		8,817
Equity in earnings of unconsolidated affiliates	—		53,244		—		—		53,244
Deduct:
Interest expense	2,666		—		63,363		—		66,029
Depreciation and amortization expenses	85,273		2,305		5		—		87,583
Contract assets amortization	1,655		—		—		—		1,655
Proportionate EMI EBITDA	—		88,229		—		—		88,229
Share-based compensation	—		—		15,171		—		15,171



Contingent liabilities fair value adjustment	1,400		—		—		—		1,400
Integration costs	1,208		—		1,332				2,540
Acquisition transaction costs	—		—		31		—		31
Other one-time costs or amortization	1,657		—		2,060		—		3,717
Income (loss) before income taxes	$	88,581	$	88,797	$	(85,464)	$	—	$	91,914


	Midstream Logistics		Pipeline Transportation		Corporate and Other(1)		Elimination		Consolidated

For the nine months ended September 30, 2025	(In thousands)
Revenue	$	1,318,459	$	7,162	$	—	$	—	$	1,325,621
Other revenue	8,343		6		—		—		8,349
Intersegment revenue(2)	—		18,271		—		(18,271)		—
Total segment operating revenue	1,326,802		25,439		—		(18,271)		1,333,970
Costs of sales (excluding depreciation and amortization expense)	(615,624)		172		—		—		(615,452)
Intersegment costs of sales	(18,271)		—		—		18,271		—
Operating expenses(3)	(226,283)		(1,951)		—		—		(228,234)
General and administrative expenses	(18,731)		(901)		(72,300)		—		(91,932)
Proportionate EMI EBITDA	—		263,345		—		—		263,345
Other segment items(4)	14,870		—		59,017		—		73,887
Segment Adjusted EBITDA(5)	$	462,763	$	286,104	$	(13,283)	$	—	$	735,584

Reconciliation of Segment Adjusted EBITDA to income before income taxes
Segment Adjusted EBITDA(5)	$	462,763	$	286,104	$	(13,283)	$	—	$	735,584
Add back:
Other interest income	—		—		1,274		—		1,274
Gain on disposal of assets, net	15		—		—		—		15
Commodity hedging unrealized gain	13,131		—		—		—		13,131

Equity in earnings of unconsolidated affiliates	—		174,472		—		—		174,472
Deduct:
Interest expense	97		—		173,852		—		173,949
Depreciation and amortization expenses	274,903		6,924		18		—		281,845
Contract assets amortization	5,054		—		—		—		5,054
Proportionate EMI EBITDA	—		263,345		—		—		263,345
Share-based compensation	—		—		44,577		—		44,577

Loss on debt extinguishment	—		—		635		—		635
Contingent liabilities fair value adjustment	5,700		—		—		—		5,700
Integration costs	10,999		—		1,622		—		12,621
Acquisition / divestiture transaction costs	—		—		812		—		812
Other one-time costs or amortization	3,702		—		12,006		—		15,708
Income (loss) before income taxes	$	175,454	$	190,307	$	(245,531)	$	—	$	120,230


	Midstream Logistics		Pipeline Transportation		Corporate and Other(1)		Elimination		Consolidated

For the nine months ended September 30, 2024	(In thousands)
Revenue	$	1,082,236	$	6,566	$	—	$	—	$	1,088,802
Other revenue	8,122		289		—		—		8,411
Intersegment revenue(2)	—		19,288		—		(19,288)		—
Total segment operating revenue	1,090,358		26,143		—		(19,288)		1,097,213
Costs of sales (excluding depreciation and amortization expense)	(444,767)		(19)		—		—		(444,786)
Intersegment costs of sales	(19,288)		—		—		19,288		—
Operating expenses(3)	(159,455)		(2,223)		—		—		(161,678)
General and administrative expenses	(13,766)		(1,263)		(79,817)		—		(94,846)
Proportionate EMI EBITDA	—		262,553		—		—		262,553
Other segment items(4)	11,083		—		64,105		—		75,188
Segment Adjusted EBITDA(5)	$	464,165	$	285,191	$	(15,712)	$	—	$	733,644

Reconciliation of Segment Adjusted EBITDA to income before income taxes
Segment Adjusted EBITDA(5)	$	464,165	$	285,191	$	(15,712)	$	—	$	733,644
Add back:
Other interest income	—		—		1,459		—		1,459
Commodity hedging unrealized gain	1,935		—		—		—		1,935
Gain on sale of equity method investment	—		89,837		—		—		89,837
Equity in earnings of unconsolidated affiliates	—		169,668		—		—		169,668
Deduct:
Interest expense	5,273		—		162,272		—		167,545
Depreciation and amortization expenses	229,336		6,897		17		—		236,250
Contract assets amortization	4,965		—		—		—		4,965
Proportionate EMI EBITDA	—		262,553		—		—		262,553
Share-based compensation	—		—		52,868		—		52,868
Loss on disposal of assets, net	4,090		—		—		—		4,090

Loss on debt extinguishment	—		—		525		—		525
Contingent liabilities fair value adjustment	1,400		—		—		—		1,400
Integration costs	1,792		—		3,299		—		5,091
Acquisition transaction costs	—		—		3,538		—		3,538
Other one-time costs or amortization	4,048		—		4,400		—		8,448
Income (loss) before income taxes	$	215,196	$	275,246	$	(241,172)	$	—	$	249,270

(1)Corporate and Other represents those results that: (i) are not specifically attributable to an operating segment; (ii) are not individually reportable or (iii) have not been allocated to a reportable segment for the purpose of evaluating their performance, including certain general and administrative expense items. Items included here to reconcile operating segments’ profit and loss with the Company’s consolidated profit and loss.


	Midstream Logistics		Pipeline Transportation		Corporate and Other (1)		Consolidated

For the three months ended September 30, 2025	(In thousands)
Income tax expenses	$	—	$	—	$	1,109	$	1,109
Capital expenditure(3)(4)	$	171,824	$	2	$	—	$	171,826

For the three months ended September 30, 2024
Income tax expenses	$	—	$	—	$	8,260	$	8,260
Capital expenditure(3)(4)	$	60,053	$	3,373	$	—	$	63,426


	Midstream Logistics		Pipeline Transportation		Corporate and Other (1)		Consolidated

For the nine months ended September 30, 2025	(In thousands)
Income tax expenses	$	—	$	—	$	11,003	$	11,003
Capital expenditure(3)(4)	$	388,988	$	245	$	—	$	389,233

For the nine months ended September 30, 2024
Income tax expenses	$	—	$	—	$	21,261	$	21,261
Capital expenditure(3)(4)	$	158,171	$	5,378	$	—	$	163,549

(1)Corporate and Other activities represents those results that: (i) are not specifically attributable to an operating segment; (ii) are not individually reportable or (iii) have not been allocated to a reportable segment for the purpose of evaluating their performance, including certain general and administrative expense items. Items included here to reconcile operating segments profit and loss with the Company’s consolidated profit and loss.