Investor Highlights // DECEMBER 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 31 Active Rigs On Enable’s Footprint 1 Note: Map as of Nov. 7, 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, which Enable owns a 50% interest) and ~2,300 miles of intrastate pipeline 1 Rigs drilling wells expected to be connected to Enable’s gathering systems; per Enverus as of Oct. 28, 2019 1 2 | Investor Highlights
Gathering and Processing Rig Activity Updates • Producers remain active around Enable’s gathering footprint with 31 rigs 1 currently drilling wells expected to be connected to Enable’s gathering systems • 44% of all active rigs 1 in the SCOOP and STACK plays are drilling wells expected to be connected to Enable’s gathering systems • Enable expects to gather crude oil and condensate from wells drilled by 88% of the active rigs 1 on Enable’s footprint in the SCOOP play Q3-19 Segment Highlights Anadarko: Active Rigs on Enable’s Footprint 1 • Strong well results in the STACK and SCOOP expected to increase Q4-19 natural gas gathered volumes - September volumes were 4% higher than Q3-19 average, STACK 31 driven by a large number of new wells coming online SCOOP Granite Wash - Multi-well pads in the STACK recently came online, Ark-La-Tex achieving total volumes in September of over 90 MMcf/d Williston - Multi-well pads in the SCOOP recently came online, achieving total volumes in October of over 180 MMcf/d • Increased crude oil and condensate gathered volumes during 2019 ANADARKO ARK-LA-TEX ARKOMA WILLISTON - September volumes were 12% higher than Q3-19 average, continuing the growth trend since acquisition We have gathering and processing Our operations primarily serve We have operations in the Natural Gas operations in the Ark-La-Tex Basin the Woodford Shale play located Bakken Shale that are located in We have natural gas gathering and Ark-La-Tex: located in Arkansas, Louisiana and in Oklahoma and the Fayetteville North Dakota. The focus of our processing operations in the SCOOP, STACK, Texas. Our Ark-La-Tex gathering Shale play located in Arkansas. operations in the Williston Basin • Haynesville contracts with MVC support expiring Q3-19 were Granite Wash, Cleveland, Marmaton, at a combined nearly 90% of MVC threshold levels over the and processing operations primarily Our Arkoma Basin gathering and is the gathering of crude oil and Tonkawa, Cana Woodford and Mississippi last contract year and have at least fjve years of continuing serve the Haynesville, Cotton processing operations serve both produced water for XTO Energy Lime plays. Enable serves over 200 acreage dedications beyond the term of the MVCs Valley and the lower Bossier plays. rich and lean gas production from Inc., an affjliate of ExxonMobil producers 3 in the Anadarko Basin and We serve over 100 producers 3 more than 80 producers 3 . Corporation, with pipeline gathering has secured 5.4 million gross acres 3 of Williston: in the Ark-La-Tex Basin where systems in Dunn, McKenzie, Contracts are primarily fee-based dedication under long-term, fee-based our gathering and processing Williams and Mountrail counties of • Record quarterly crude oil gathered volumes 2 contracts with signifjcant support contracts. operations provide service for both North Dakota. from MVCs, which have a weighted rich and lean gas production. Crude Oil and Condensate average remaining term of 5.2 The scale of Enable’s Ark-La- years 3 . Note: SCOOP counties are designated as Caddo, Carter, Garvin, Grady, McClain and Our operations in the Anadarko Basin Stephens and STACK counties are designated as Blaine, Canadian, Custer, Dewey, Tex Basin assets allows us to be Kingfisher, Major and Woodward counties of Oklahoma include gathering of crude oil and well-positioned to supply demand condensate from producers in the SCOOP, growth from LNG exports. 1 Rigs per Enverus as of Oct. 28, 2019; represents wells expected to be connected to STACK and Merge plays. Enable’s footprint either Enable’s natural gas gathering or crude oil and condensate gathering systems is uniquely positioned to serve the increased 2 Since Enable’s formation in May 2013 drilling activity in the SCOOP play. 3 Operational data as of Dec. 31, 2018 3 4 | Investor Highlights
Transportation and Storage Enable’s Infrastructure Provides Continued Execution Results in Large-Scale, Top-Tier Integrated Assets Provide Unique Market Solutions for Compelling Value for New and Many Sources of Supply and Demand Long-Term Agreements Existing Customers 20 • Contracted or extended over 575,000 Transportation Contract Life in Years EOIT Dth/d of transportation capacity during 9 third quarter 2019 5 5 • Evaluating asset base optimization 3.65 opportunities - Entered into a defjnitive agreement to sell MRT EGT’s undivided 1/12th ownership interest Year-End MRT MASS CERC Gulf Run in the Bistineau natural gas storage facility, 2018 1 Contracts 2 Extension located in Louisiana for ~$19 million, which is expected to close second quarter 2020 EGT Enable Gas Transmission (EGT) • Enable and CenterPoint Energy Resources Corp. (CERC) have agreed to recontracting terms for a substantial portion of EGT capacity, which includes nine-year contract terms for the majority of the renewed capacity Gulf Run • Following a successful open season, EGT signed a 5-year, 100,000 Dth/d precedent agreement in the fourth SESH 1 quarter of 2019 for the MASS natural gas transportation project, which leverages Enable’s existing infrastructure to address natural gas takeaway limitations by connecting growing production in the Anadarko and Arkoma Basins to delivery points with access to emerging Gulf Coast markets and growing demand markets in the Southeast • Favorable contract structure with signifjcant fee-based Mississippi River Transmission (MRT) and demand fee margin 84.5 Bcf • MRT has agreed to rate case settlement terms with all of MRT’s firm capacity customers that participated in the Natural Gas pipeline’s recent rate cases, and most of these customers have agreed to extend capacity commitments on MRT • Diverse, high-quality customer base, including many Storage Capacity through 2024 investment-grade companies • MRT expects FERC will rule on the proposed settlements in the first half of 2020, and the pipeline’s new recourse rates and new negotiated rate agreements will become effective upon FERC approval • With fjve 3 major projects placed into service since 2015 • Upon approval of the settlements, MRT will make any necessary refunds to customers and recognize as income any 10,100 Miles and two 4 additional projects underway, Enable has amounts that have been reserved but not refunded Interstate/Intrastate achieved 2.4 Bcf/d of market solutions for customers • Assuming the settlements are approved in 2020, MRT expects revenues for 2020 to be higher than the revenues Pipelines 2 MRT recognized in 2018 • T&S segment is well-positioned to support natural gas demand growth in the Mid-continent, Gulf Coast and Southeast regions Gulf Run Pipeline • Enable anticipates filing a formal certificate application for the project in early 2020 Map as of Nov. 4, 2019; Stats as of Dec. 31, 2018 • Project expected to be placed into service by late 2022, subject to FERC approval 1 50/50 joint venture with Enbridge Inc. 2 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 3 CaSE, Line AD Expansion, Muskogee, Bradley Lateral including Project Wildcat in the G&P segment 1 Year-end 2018 weighted average contract life of EGT, MRT, EOIT and SESH 4 MASS and Gulf Run 2 MRT settlements included as one element the extension of contracts by most of the setting parties for terms that will now end in 2024 5 6 | Investor Highlights
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