| EXPLANATORY NOTE Summit Midstream Partners, LLC (“Summit Investments”) is a Delaware limited liability company and the predecessor for accounting purposes (the “Predecessor”) of Summit Midstream Partners, LP, a Delaware limited partnership (“SMLP”). The accompanying financial and operating information and related notes include the assets, liabilities and results of operations of Summit Investments prior to Summit Investments’ contribution of all of the limited liability company interests in Summit Midstream Holdings, LLC to SMLP in connection with SMLP’s initial public offering (“IPO”) in October 2012. The financial and operating information included in this presentation reflect the Predecessor financial statements, which are based on the historical ownership percentages of the operations that were contributed to SMLP by Energy Capital Partners II, LLC and its parallel and co-investment funds and GE Energy Financial Services, Inc. (collectively the "Sponsors") prior to the IPO. The effects of the IPO and related equity transfers occurring in October 2012 are reflected in this financial information subsequent to the IPO. The results of the Predecessor prior to the IPO may not be indicative of SMLP’s future financial results. FORWARD LOOKING STATEMENTS This presentation includes certain statements, estimates and projections provided by Summit Investments with respect to its anticipated future performance. These “forward-looking” statements appear in a number of places in this presentation and include, but are not limited to, statements regarding Summit Investments’ plans, intentions, beliefs, expectations and assumptions, as well as other statements that are not historical facts. Generally, these statements can be identified by the use of forward-looking terminology including “will,” “may,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” or other similar words. When considering these “forward-looking” statements, you should keep in mind that a number of factors that are beyond Summit Investments’ control could cause actual results to differ materially from the results contemplated by any such forward-looking statements including, but not limited to, the following risks and uncertainties: fluctuations in oil, natural gas and NGL prices; the extent and quality of natural gas volumes produced within proximity of Summit Investments’ assets; failure or delays by Summit Investments’ customers in achieving expected production in their natural gas projects; competitive conditions in Summit Investments’ industry and their impact on Summit Investments’ ability to connect natural gas supplies to its gathering and processing assets or systems; actions or inactions taken or nonperformance by third parties, including suppliers, contractors, operators, processors, and shippers; Summit Investments’ ability to successfully integrate recently acquired assets; operating hazards, natural disasters, weather-related delays, casualty losses and other matters beyond Summit Investments’ control; Summit Investments’ ability to control the costs of construction, including costs of materials, labor and right-of-way and other factors that may impact Summit Investments’ ability to complete projects within budget and on schedule; and the effects of existing and future laws and governmental regulations, including environmental requirements on Summit Investments’ business or operations. All of the forward-looking statements made in this document are qualified by these cautionary statements, and Summit Investments cannot assure you that actual results or developments that Summit Investments anticipates will be realized or, even if substantially realized, will have the expected consequences to, or effect on, Summit Investments or its business or operations. Although the expectations in the forward-looking statements are based on Summit Investments’ current beliefs and expectations, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date hereof. Summit Investments expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Furthermore, the “forward-looking” statements reflect various assumptions by Summit Investments concerning anticipated results. While Summit Investments believes that these assumptions have a reasonable basis, they may or may not prove to be correct. Summit Investments has no obligation to offer, and Summit Midstream Partners, LP has no right to acquire, any interest in Ohio Gathering or any other asset of Summit Investments. |
