Slide 1: Fourth Quarter and Full-Year 2025 Results & 2026 Guidance
Summit Midstream Corporation Fourth Quarter and Full-Year 2025 Results & 2026 Guidance March 16, 2026
Slide 2: Forward-Looking Statements, Legal Disclaimers & Use of Non-GAAP
Forward-Looking Statements, Legal Disclaimers & Use of Non-GAAP Investors are cautioned that certain statements contained in this presentation are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act
Slide 3: 4Q-2025 Highlights
4Q-2025 Highlights 4Q’25 Operational & Financial Highlights Q4’25 & Q1’26 Key Highlights Adj. EBITDA Volume Throughput 540 MMcf/d of new long-term firm contracts signed on ✓ Double E expected to grow Permian segment Adj. EBITDA to ~$60MM in 2029 (from ~$34MM in 2025) $58.5 2,151 ✓ Launched a Double
Slide 4: 2026 Financial & Volume Guidance
2026 Financial & Volume Guidance $225MM - $265MM $85MM - $105MM 116 - 126 2,165 – 2,360 MMcf/d 2026E Adjusted EBITDA 2026E Total Capex(1) Well Connections 2026E Volume Throughput VOLUME & EBITDA GUIDANCE 2026E Volume FY 2025 Adjusted 2026E Adjusted Segment / Metric FY 2025 Volume (MMcf/d) (MMcf/d) E
Slide 5: Commercial Momentum Driving Double E Expansion Opportunity
Commercial Momentum Driving Double E Expansion Opportunity ➢ Commercial momentum continues, with recent signing of multiple long- Double E Area Map term take-or-pay agreements including 210 MMcf/d and 230 MMcf/d contracts alongside the previously announced 100 MMcf/d Producers Midstream Rigs agreeme
Slide 6: Double E Refinancing Funds Growth & Accelerates SMC De-Levering
Double E Refinancing Funds Growth & Accelerates SMC De-Levering Refinancing strengthens the balance sheet, funds high-returning Double E growth projects, and accelerates Summit’s path to its long-term leverage target Overview Pro Forma Capitalization ➢ Refinanced Summit Permian Transmission with a n
Slide 7: Summit Capitalizes on Williston Development Migration to Williams & Divide Counties
Summit Capitalizes on Williston Development Migration to Williams & Divide Counties SMC’s Williston Basin infrastructure spans Williams and Divide Counties, areas that are seeing a significant increase in development activity as producers migrate away from highly developed areas of McKenzie County ➢
Slide 8: Summit's Highly Visible Growth Outlook
Summit’s Highly Visible Growth Outlook (1) Summit’s existing portfolio is well positioned to add over $100 MM (1) of organic EBITDA growth by 2030 G&P Segment - Well Connect Activity Permian - Double E Growth Outlook Well connects expected to return to historical levels in 2027+ as Contracted Adj. E
Slide 9: Appendix
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Slide 10: Reportable Segment Adjusted EBITDA
Reportable Segment Adjusted EBITDA Year Ended December 31, Three Months Ended December 31, ($s in 000s) 2025 2024 2025 2024 Reportable segment adjusted EBITDA (1): Northeast (2) $ — $ 30,634 $ — $ — Rockies 106,935 93,827 27,832 23,245 Permian (3) 33,980 31,227 8,735 7,793 Piceance 44,774 52,704 10,
Slide 11: Reconciliation of Net Income or Loss to adj. EBITDA, DCF and FCF
Reconciliation of Net Income or Loss to adj. EBITDA, DCF and FCF Three Months Ended December 31, Year Ended December 31, 2025 2024 2025 2024 2023 2022 2021 Net income / (loss) $ (7,312) $ (24,783) $ (1,906) $ (113,175) $ (38,947) $ (123,461) $ (19,949) Add: Interest expense 24,145 20,431 94,737 115,
Slide 12: Reconciliation of Net Cash Provided by Operating Activities to adj. EBITDA and DCF
Reconciliation of Net Cash Provided by Operating Activities to adj. EBITDA and DCF Year Ended December 31, ($s in 000s) 2025 2024 Cash flow available for distributions: Net Cash provided by operating activities $ 133,595 $ 61,771 Add: Interest expense, excluding amortization of debt issuance costs 9