Investor Highlights // AUGUST 2019 Enable Midstream Overview Large - PDF document

Investor Highlights // AUGUST 2019

Enable Midstream Overview • Large scale, fully integrated midstream platform • Critical link between growing production and downstream markets • Long-term relationships with large-cap producers, LDCs and electric utilities • Signifjcant fee-based and demand-fee margin • Substantial distribution coverage • Investment-grade credit metrics • Proven track record • Compelling value opportunity 10,100 Miles 2.6 Bcf/d Interstate/Intrastate Processing Capacity Pipelines 84.5 Bcf 13,900 Miles Natural Gas Gathering Pipelines Storage Capacity 44 Active Rigs On Enable’s Footprint 1 Note: Map as of July 30, 2019; Stats as of Dec. 31, 2018; Pipeline miles are approximate and interstate/intrastate pipeline miles include ~7,800 miles of interstate pipeline (including SESH) and ~2,300 miles of intrastate pipeline 1 Rigs drilling wells expected to be connected to Enable’s gathering systems; per DrillingInfo as of Aug. 5, 2019 1 2 | Investor Highlights

Fully Integrated Midstream Platform Across Leading Basins Generates Unique Growth Opportunities T&S Segment G&P Segment 2019 Highlights 2019 Highlights • Contracted or extended over • Rig activity remains strong around 600,000 Dth/d of transportation Enable’s gathering footprint with 44 capacity during the second quarter rigs 2 currently drilling wells expected of 2019 to be connected to Enable’s gathering systems • Enable and CenterPoint Energy Resources Corp. (CERC) previously • DUC count is building in the Williston signed precedent agreements outlining Basin as a result of third-party natural terms and conditions for extending gas infrastructure constraints that EGT pipeline contracts that currently are expected to be alleviated as expire on March 31, 2021; CERC new infrastructure come online has received the required regulatory later this year approvals, and EGT is working • Crude oil and condensate volumes with CERC to fjnalize the defjnitive gathered reached 119 MBbl/d in agreements the second quarter 2019 driven • The MRT rate case hearing date that by Enable’s recent crude oil and was originally set for November 2019 condensate gathering system has been rescheduled to early 2020; acquisition in the Anadarko Basin MRT remains focused on ensuring and growth in the Williston Basin that the pipeline’s rates appropriately • Producer activity in the Ark-La-Tex refmect historical investments and Basin continues to drive gathered current costs volumes, and the scale of the Ark-La- • T&S segment provides signifjcant, Tex Basin assets has allowed Enable fee-based margin and is well- to benefjt from opportunistic short- positioned to support natural gas term offmoad agreements demand growth in the Mid-continent, Gulf Coast and Southeast regions Active Rigs on Enable’s Footprint 2 T&S Gross Margin 1 MRT 13% EGT EOIT 54% 21% STACK Ark-La-Tx 88% Derived from SCOOP Williston Firm Contracts 1 As of Dec. 31, 2018; excludes SESH which is reported as an equity method investment Granite Wash 2 Rigs per DrillingInfo as of Aug. 5, 2019 3 4 | Investor Highlights

Market-Leading Anadarko Basin Position Gulf Run Pipeline Extends Enable’s Midstream Platform Significant natural gas and crude oil midstream infrastructure The Gulf Run Pipeline, backed by cornerstone shipper Golden Pass LNG, will positions Enable to capitalize on changing rig activity provide access to some of the most prolific natural gas producing regions in the U.S. 2018 2019 2021 2022 Project Open Golden Survey FERC Public FERC FERC 7(c) Right of Way FERC Begin Project Announcement Season Pass Work Pre- Open Scoping Filing Acquisition Approval Construction Completed FID Filing Houses Meetings • #1 in Processing Capacity in the SCOOP and STACK 1 • As part of the FERC pre-fjling process, Enable hosted public open houses for stakeholders in May 2019 • 51% of all active rigs in the SCOOP and STACK are drilling wells expected to be connected to Enable’s • In June 2019, the commission conducted public scoping meetings for the project gathering systems 2 • Enable remains in active discussions with customers for additional capacity commitments and anticipates • Enable expects to gather crude and condensate from 73% of the active rigs on Enable’s Andarko footprint 2 fjnalizing the scope of the project and fjling a formal certifjcate application in early 2020 • Operators have reduced the number of days it takes to drill a well in the SCOOP and STACK by an average • The project is expected to be completed by late 2022 and is subject to FERC approval of 11% between fjrst and second quarter 2019 3 Note: SCOOP counties are designated as Caddo, Carter, Garvin, Grady, McClain and 1 Processing capacity per Bentek as of Aug. 7, 2019 Note: Maps as of Aug. 1, 2019 Stephens and STACK counties are designated as Blaine, Canadian, Custer, Dewey, 2 Rigs per DrillingInfo as of Aug. 1, 2019 Kingfisher, Major and Woodward counties of Oklahoma 3 Source: DrillingInfo 5 6 | Investor Highlights

Enable: Built for the Long-term Responsible Operator, Community Partner Enable’s Results Check All of the Boxes 1 Environmental Stewardship Community Focused • Investment-Grade Credit Metrics • Signifjcant Scale • Strong Distribution Coverage • Improved Returns on Invested Capital Signatory to INGAA’s Enable employees served Methane Emissions Commitment 20,925 Hours to minimize methane emissions in local communities in 2018 Strong Business Performance ~96% Fee-Based or Hedged Margin 4 Member of EPA’s voluntary Enable honored Natural Gas STAR 6 Emergency Responders +9% CAGR 2 program since 2003 through the Enable Safety Partner $1,180 $1,180 Program in 2018 Adjusted EBITDA ($ in mm) Focus on Species Conservation Partnered with the including Lesser Prairie Chicken OKC Thunder to build $1,074 $1,090 $801 $873 $924 4 Basketball Courts and American Burying Beetle in Oklahoma communities Enable received the Corporate Conservation 311 employees Volume Dependant Demand 2015 2016 2017 2018 2019E 3 Partnership Award volunteered to provide Commodity-Based Commodity-Based 198,000 Meals by the Arkansas Game and Hedged Unhedged Fish Commission through food banks across Enable’s footprint Key Enable Highlights • Critical link between growing production and downstream markets • Diversifjed asset base with proven value, scale and upside • Favorable contract structures with signifjcant fee-based and demand-fee margin • Financial fmexibility with signifjcant liquidity and investment-grade credit metrics • Proven track record of consistent operational and fjnancial growth National Wild Turkey Federation presented Enable and its employees donated $560,000 Enable with the prestigious Energy for Wildlife to United Way agencies across the company’s National Achievement Award footprint in 2018 1 Results from 2016 through 2018 2 Calculation is based off of 2019E midpoint 3 2019E is based on the 2019 Outlook provided on Nov. 7, 2018, reaffirmed Aug. 6, 2019 4 Gross margin profile represents hedges as of July 10, 2019 and Enable’s current 2019 forecast and price assumptions 7 8 | Investor Highlights