Usa Compression Partners, Lp · NYSE:USAC
Usa Compression Partners, Lp — Mizuho Power, Energy & Infrastructure Conference 2025
14 slides from Usa Compression Partners, Lp's conference presentation, Dec 8, 2025
Slide 1: USA Compression Partners, LP Investor Presentation
USA Compression Partners, LP Investor Presentation December 2025
Slide 2: Forward-Looking Statements and Disclaimer
Forward-Looking Statements and Disclaimer Forward Looking Statements This presentation contains forward-looking statements related to the operations of the Partnership that are based on management’s current expectations, estimates, and projections about its operations, including forward-looking stat
Slide 3: USA Compression: Overview
USA Compression: Overview USAC Market Statistics1 2025 Financial Guidance2 • NYSE: USAC • Adjusted EBITDA: $610 - $620 million • Market Cap: $3.1 billion • DCF: $370 - $380 million • Enterprise Value: $5.7 billion • Current Unit Price: $25.25 • Distribution Yield: 8.3% Organic Adjusted EBITDA Growth
Slide 4: USA Compression: History of Strategic Acquisitive Growth
USA Compression: History of Strategic Acquisitive Growth From its founding in 1998, USAC’s value creation formula has combined continued organic growth with opportunistic acquisitions. Most recently, USAC announced it plans to acquire J-W Power Company (“J-W”): Executed Transactions Announced Transa
Slide 5: J-W Power Company: Overview
J-W Power Company: Overview1 Contract Compression Aftermarket Service & Manufacturing % of Active HP by Region • Large-scale contract compression with • Aftermarket Services provide bolt-on ~847,000 active HP services to customer-owned equipment Northeast • Fleet diversification across unit sizes wi
Slide 6: J-W Power Company: Transaction Overview
J-W Power Company: Transaction Overview USAC to acquire J-W for $860 million • $430 million cash, to be funded with borrowings under USAC’s existing credit facility • ~18.3 million USAC common units to be issued to the seller1 • Represents an attractive ~5.8x Adjusted EBITDA multiple2 Strengthens po
Slide 7: J-W Power Company: Strategic Rationale
J-W Power Company: Strategic Rationale Enhanced Scale and • Increased size and scale with ~4.4MM pro forma active HP Complementary • Diversifies business lines including larger aftermarket services and parts distribution Footprint • Additional optionality associated with specialized manufacturing se
Slide 8: USA Compression and J-W Power Company: Pro Forma Geography
USA Compression and J-W Power Company: Pro Forma Geography USAC J-W Power Complementary Fleet Pro Forma Fleet Mix by Basin 1 Rockies 10% 37% Permian Northeast 23% 30% USGC / Mid-Con Pro Forma Fleet Mix by Unit Size 1 <400 HP Northeast 13% Rockies 14% 13% 400 – 1,000 HP 44% 56% 86% Permian USGC / Mid
Slide 9: Appendix
Appendix 9
Slide 10: Preferred Unitholder Completed Conversion of All Preferred Units
Preferred Unitholder Completed Conversion of All Preferred Units • As of December 5, 2025, EIG Veteran Equity Aggregator, L.P. and FS Specialty Lending Fund (collectively “EIG”) has converted all 500,000 Series A Perpetual Preferred Units (the “Preferred Units”) of the Partnership into Common Units
Slide 11: Ownership Structure and Energy Transfer Relationship
Ownership Structure and Energy Transfer Relationship USAC Ownership Structure1 Energy Transfer • Supportive parent that owns one of the LP largest and most diversified portfolios of energy assets in the United States • Energy Transfer has owned USAC’s general Public partner since April 2018 and has
Slide 12: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted gross margin and Adjusted EBITDA Distributable Cash Flow and Distributable Cash Flow Coverage 2025 2024 2025 2024 $ in thousands Q3 Q2 Q1 Q3 $ in thousands Q3 Q2 Q1 Q3 Total revenues $ 250,255 $ 250,125 $ 245,234 $ 239,968 Net income $ 34,487 $ 28,559 $ 20,512 $ 19,
Slide 13: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted gross margin and Adjusted EBITDA Years Ended December 31, $ in thousands 2024 2023 2022 2021 2020 Total revenues $ 950,449 $ 846,178 $ 704,598 $ 632,645 $ 667,683 Cost of operations, exclusive of depreciation and amortization (312,726) (284,708) (234,336) (194,389)
Slide 14: Basis of Presentation; Explanation of Non-GAAP Financial Measures
Basis of Presentation; Explanation of Non-GAAP Financial Measures This presentation includes the non-U.S. generally accepted accounting principles (“non-GAAP”) financial measures, which may include Adjusted gross margin, Adjusted EBITDA, Distributable Cash Flow, and Distributable Cash Flow Coverage
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