Eureka Midstream. David Dulak. Managing Director, Business Development

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1 Eureka Midstream David Dulak Managing Director, Business Development 72

2 Eureka Midstream TETCO Rover TETCO Formed in 2009 Focused on the Ohio River Valley core areas Utica & Marcellus Lean Marcellus Rich Strong Ownership Morgan Stanley Infrastructure Partners SK Holdings Co., Ltd Experienced Management Team Significant Appalachian experience Midstream, transmission, production, financial, NGL offtake and project management 732

3 Asset Overview and Area of Operations TETCO Rover Rich gathering system Lean gathering system Processing Facility Assets located in the heart of the Marcellus and Utica shales 205+ miles of new construction steel pipeline The current system was all built 2010 and later (1) 126milesofrichgathering 80milesofleangathering Primarily20 withsome16 and24 DesignedandbuiltperDOTpart192 95%ClassIlocation;noHCAorClassIII 100% automated; cathodic protection system State of the art compression facilities Currently ~26,500 BHP Fully automated BuilttoDOTpart192 Liquids handling facilities Minimal liquids handling BuiltandmanagedbyPSM (1) Eureka has legacy assets that comprise a very small part of the Company; over 99% of the revenue is generated from the new assets 74

Management Team Chris Akers President and Chief Operating Officer Morethan25yearsofpipelineexperience,includingoperations,engineering,projectmanagementandconstruction, primarily within the midstream

4 Management Team Chris Akers President and Chief Operating Officer Morethan25yearsofpipelineexperience,includingoperations,engineering,projectmanagementandconstruction, primarily within the midstream industry located in Appalachia PriortojoiningEurekaMidstream,Mr.AkersservedasVicePresidentofTeam EnvironmentalLLCsince2013.He previously served as Vice President Operations and Director of Gas Control and Commercial groups at EQT Corporation, from 2001 to 2013 Mr.AkersearnedaBachelorofScienceinMechanicalEngineeringfromWestVirginiaInstituteofTechnology,anda Master of Business Administration from West Virginia Wesleyan Gabe Scott Chief Financial Officer Overtenyearsofcorporatefinanceexperienceintheenergysector, primarilyacrossthemidstreamandupstream space Prior to joining Eureka Midstream, Mr. Scott worked at energy-focused private equity firm and an international investment bank where the majority of the investments and transactions were focused in the U.S. oil& gas industry Mr.ScottearnedBSinfinancefromtheUniversityofAlabamain2005 Melissa Richey Senior Vice President of Engineering and Construction More than 25 years of oil and gas experience, including operations, engineering, environmental, land, project management and construction, primarily within the production and midstream industry Prior to joining Eureka Midstream, Ms. Richey served as Vice President Land for EQT Production Company and Director of Construction and Gas Systems Planning and other commercial and financial roles at EQT Corporation Ms. Richey earned a Bachelor of Science in Petroleum Engineering from West Virginia University and a Master of Business Administration from the University of Pittsburgh Marc Weaver Senior Vice President of Business Development Over30yearsexperienceincommercial,businessdevelopmentandmergers/acquisitionsintheenergyindustry Prior to joining Eureka, Mr. Weaver was and Independent Consultant working with both pipeline companies and producers focusing on value creation in the midstream space; Previously he held a variety of senior roles at EQT Midstream, Sempra Energy, DTE Gas Resources, NiSource and Dominion Resources Mr.WeaverhasBBAinPetroleumLandManagementandaMBAinFinancefromTheUniversityofTexasatAustin 3

5 Eureka Holdings 60 % Morgan Stanley Infrastructure Partners Eureka Midstream Holdings LLC 40 % SK Holdings Co., Ltd. Eureka Midstream LLC 1.5 % Minority Ownership TransTex LLC 76

6 Asset Overview Eureka Customer Base * 15 Interconnects K 1 Processing Facilities Pipeline Miles BHP Compression Bcf/D CurrentThroughput Diversified Customer Base No single customer > 27% 3.0 Bcf/DCapacity 77 *As of Q1 2018

404/Natrium BoltzRidge TL 377/Header to ACP DEO

7 Eureka Midstream Takeaway Points Market Interconnections MWE Mobley Boltz Hill TL 377 *All data as of 2/6/18 DTI TL 413 DTI TL 265 TCO Smithfield Rockies Express TETCO Blue Racer TL 404/Natrium BoltzRidge TL 377/Header to ACP DEO Blue Racer Gallaher/Berne ETC Rover Columbia Leach Xpress 78

8 Pipelines Connected to Existing Eureka System On-System Pipelines Pipeline Owner/ Operator Region of Delivery Eureka Meter Size In-Service Date Columbia (Legacy System) TransCanada Western Ohio / Mid-Atlantic 300,000 12/14/2014 REX Tallgrass Energy, LP Midwest 1,000,000 1/16/15 ROVER Energy Transfer Midwest+ Gulf Coast+ S.E. Michigan + Ontario 350,000 12/18/17 LXP/ MXP TransCanada Ohio,WV, Gulf Coast(via Rayne Xpress), and MXP to TCO Pool 1,000,000 1/3/18 DTI / ACP Supply Header Dominion Energy Mid-Atlantic and NE 600,000 11/21/16 TETCO Enbridge Gulf. Michigan(via Teal/Nexus), and NE 1,000,000 2/18/15 Mountain Valley Pipeline EQT, NextEra, ConEd, WGL Mid and RGC Mid Transco Zn 5 in VA (via Mobley) TBD Q42018 DEO Dominion Energy Ohio LDC 200,000 11/28/16 79

9 Eureka Midstream - Future Market Access 2020 Michigan Market North East Market MidCon Market Rockies Express (REX) Atlantic Market Gulf Market *As of 2/28/18 80

10 81 Safety & Environmental

11 Protecting The Environment Spills releases Nov s order fines * * This is the EHS data up through 1/31/2018

12 Start Safe, Work Safe, Finish Safe Injury TRIR LWC PVA NPVA FirstAid OSHA Citation PHMSA/ NOV * * This is the EHS data up through 1/31/2018

13 84 Northeast Market

14 Northeast Midstream Project Trends Connecting wellhead supplies to downstream expansion projects Large E&P companies spinning off midstream affiliates Midstream joint ventures between E&P companies and midstream operators Northeast processing and fractionation (Brownfield vs Greenfield) 85

15 Northeast Production vs. Pipeline Takeaway *As of 12/6/17 **Source: SP Global Platts Letting Off the Gas, The New Northeast Intuitive,

16 Future Strip Pricing, Regional Basis *As of 12/6/17 **Source: Bloomberg, Inside-FERC Basis 87

17 Natural Gas Pricing $4.00 NYMEX Spot/Futures Pricing $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $ / /2017 1/2018 2/2018 3/2018 4/2018 5/2018 6/2018 7/2018 8/2018 9/2018 NYMEX *All data as of 2/28/18 88

18 89 US LNG Exports

19 NGLS - Expansion Projects *All data as of 2/28/18 90

20 Natural Gas Pricing - Butane $0.79 Mont Belvieu Butane Pricing $0.78 $0.78 $0.77 $0.77 $ / /2017 1/2018 2/2018 3/2018 4/2018 5/2018 6/2018 7/2018 8/2018 9/2018 Mont Belvieu Butane Historical Spot Price Mont Belvieu Butane Futures *All data as of 2/28/18 91

21 Northeast Ethane Market Mb/d Ethane Production Market And Forecast Gas Plants ATEX UTOPIA Rejection Mariner West Marcus Hook Exports Petchem Source: RBN Energy 92

22 Assets located in the core of the Marcellus and Utica Experienced team with deep energy and midstream experience Diversified customer base with attractive long term contracts Strong financial sponsors Operational flexibility of the system multiple market outlets Significant organic growth projects

Vaquero Midstream Southern Delaware Basin

Vaquero Midstream Southern Delaware Basin August 2016 Company History Founding Partners (Gary Conway, Bryant Patton, and Bill Davis) have had a long affiliation through various roles at Crosstex over the