Rice Midstream Partners Second Quarter 2015 Supplemental Slides - PowerPoint PPT Presentation

Rice Midstream Partners Second Quarter 2015 Supplemental Slides August 6, 2015 1

RMP: High Growth MLP in Prolific Appalachian Basin S YSTEM M AP Marcellus Gathering and Compression  PA gas gathering system of 4.1 MMDth/d Legend Beaver RMP Gathering Pipeline capacity by YE15 RMP Gathering Pipeline Beaver to be Constructed RICE Acreage  2Q 2015 throughput of 655 MDth/d 3 rd Party Dedicated to RMP  15% 3 rd Party Brooke RICE Acreage Dedicated to 3 rd Party  Gathering throughput driven by SW PA technical leaders Jefferson  ~85% of 2015E estimated throughput from Brooke RICE operated volumes, ~15% from 3 rd party, primarily EQT  RMP will spend $90MM to install compression in Washington 2015 that will start generating revenue in 2016 OHIO  Installing compression for RICE in 2H 2015 Ohio  RMP will spend $85MM to build ~30 miles of gathering pipeline in 2015 PENNSYLVANIA  Substantially all of RICE’s drilling locations will be within 2 miles of gathering pipeline by YE 2015  RMP received favorable PLR from the IRS that constitutes water services as qualifying income Greene Fayette PA Gathering System Information OH Marshall 12/31/14 WV Dedicated 2Q 2015 2015E 2015E Gross Throughput EBITDA Capex WEST VIRGINIA Acreage (MDth/d) ($MM) ($MM) Wetzel Concentrated, Prolific Position to PA Gathering 86,000 655 $ 55 – 60 $ 180 Drive Targeted 20% Distribution Growth 2

RMP Second Quarter 2015 Financial Summary Solid second quarter results supported by strong throughput growth, well capitalized balance sheet and ample liquidity Financial Summary Distributions   Increased distribution to $0.1905 / unit for 2Q15 Second quarter average daily throughput of 655 MDth/d  18% increase from 1Q average throughput  $0.003 / unit increase  Adjusted EBITDA of $16.7MM  Expect to increase distributions by $0.003 / unit in 3Q &  Distributable Cash Flow of $15.1MM 4Q with targeted 4Q15 distribution of $0.1965 / unit  DCF coverage Ratio of 1.38x  5% increase above MQD of $0.1875 / unit  20% distribution growth target in 2016 Operating Metrics Liquidity as of June 30, 2015 Three Months Ended  $30MM drawn under our revolving credit facility ($ in millions, except per unit data) June 30, 2015 Affiliate gathering volumes (MDth/d) 555 Three Months Ended Third-party gathering volumes (MDth/d) 100 ($ in millions) June 30, 2015 Total gathering volumes (MDth/d) 655 Revolver capacity $ 450 Total operating revenues $19.7 Less: Borrowings 30 Total operating expenses $6.8 Plus: Cash and cash equivalents — Total operating income $12.9 Liquidity $ 420 Adjusted EBITDA $16.7 Distributable cash flow $15.1 DCF / unit $0.2624 Distribution declared $11.0 Distribution / unit $0.1905 DCF coverage ratio 1.38x 3

RMP Financial Overview C APITALIZATION AND L IQUIDITY AT 6/30/15 2015 G UIDANCE (1) $ in millions, except per share data, as of 6/30/15 2015 Capital Budget (in millions) Common Units 29 Subordinated Units 29 Gas Gathering $ 85 Total Units Outstanding (MM) 58 Compression $ 90 Price as of 6/30/15 $ 17.36 Total Expansion Capex $ 175 Market Capitalization $ 998 Maintenance Capex $ 5 Cash - Total Capital Expenditures $ 180 Revolving credit facility 30 Debt - Enterprise Value $ 1,028 Guidance Adjusted EBITDA (in millions) $55 $60 % Third Party 20% Leverage Statistics Debt / EBITDA 0.5x Distributable Cash Flow (in millions) $48 $53 EBITDA / Interest nm Average DCF Coverage Ratio 1.1x 1.2x Debt to EBITDA Covenant 4.75 Annualized Distribution (2) ($ per unit) $0.7680 Liquidity Summary Revolving credit facility $ 450 RMP Units Owned Less: amount drawn 30 % of RMP Units - Public 50% Availability under RCF $ 420 % of RMP Units - RICE 50% Plus: cash on hand - % of RMP IDRs - RICE 100% Liquidity as of 6/30/15 $ 420 __________________________ 1. As of February 17, 2015, unless otherwise stated. 2. As of August 6, 2015. 4

Industry-Leading Throughput Growth 2Q 2015 throughput of ~887 MDth/d through RICE and RMP midstream systems (21% 3 rd Party), 33% increase from 1Q15 throughput RMP System: 655 MDth/d (15% 3 rd Party) • RICE OH System: 232 MDth/d (38% 3 rd Party) • RMP and RICE OH Midstream Historical Throughput Dth/d Average Throughput (MDth/d) 1,000,000 2010 2011 2012 2013 2014 1Q 2015 2Q 2015 Throughput 4 18 61 176 409 668 887 QoQ / YoY Growth 405% 238% 188% 133% 13% 33% 800,000 600,000 400,000 200,000 0 (1) RMP - Rice Operated (PA) RMP - 3rd Party (PA) RICE - Rice Operated (OH) RICE - 3rd Party (OH) __________________________ PA 3 rd party volumes as of April 2014 close of Momentum asset acquisition. 1. 5

Valuable Drop Down Opportunities Overview Overview of Assets Legend  Assets include OH gas gathering and PA/OH RICE Ohio Gathering Pipeline water services RICE Ohio Gathering Pipeline Hancock to be Constructed RICE Water Pipeline  OH Gathering 2Q15 throughput of 232 MDth/d Beaver RICE Water Pipeline to be Constructed  38% 3 rd Party RICE Water Interconnects RICE Acreage  Gathering throughput driven by SE OH technical 3 rd Party Dedicated to RICE leaders RICE Acreage Dedicated to PENNSYLVANIA 3 rd Party Jefferson 3 rd Party Dedicated to RMP  ~75% of 2015E estimated throughput from RICE operated volumes, ~25% from GPOR Brooke Harrison Washington  Build-out is currently ahead of schedule OHIO  OH trunkline completed as designed in 2Q Belmont Ohio with 2.6 MMDth/d of capacity  PA water system fully operational providing access to 9.2 MMGPD  OH water system expected to be fully in- service by YE2015, providing 14.7 MMGPD Fayette Greene  RMP received favorable PLR from the IRS that constitutes water services as qualifying income Marshall Monroe Gathering System Information WEST VIRGINIA 12/31/14 Wetzel Dedicated 2Q 2015 2015E 2015E Gross Throughput EBITDA Capex ($MM) (1) ($MM) (1) Acreage (MDth/d) RICE Retained Building Significant Drop Down Potential 57,000 232 $ 35 – 40 $ 210 Midstream __________________________ 1. Calculations include water and gathering throughput in EBITDA and Capex. 6

RICE Overview 7

Concentrated, Core Assets C OMPANY T OTAL C ORE A SSETS Highly concentrated position of ~144,000 net acres in the Legend RMP Gathering Pipeline cores of the lowest breakeven gas shale plays in the U.S. RMP Gathering Pipeline to be Constructed  ~1,230 net undeveloped locations (1) RICE OHIO Gathering Pipeline  529 MMcfe/d net 2Q15 production from 114 net wells RICE OHIO Gathering Pipeline to be Constructed  Breakeven NYMEX PV-10 of $2.35-$3.05 / MMBTU RICE Acreage  465 BBtu/d hedged in 2H15 at $3.72 / MMBtu Beaver Hancock P ENNSYLVANIA Harrison Marcellus Core ~88,600 net Marcellus acres, <10% developed Jefferson Harrison  495 net undeveloped Marcellus locations (1)  382 net undeveloped Upper Devonian locations (1) Brooke Utica Core  98 net producing wells (95 Marcellus, 3 Upper Devonian) Washington  Completed first Pennsylvania Utica well Belmont Ohio O HIO ~55,500 net Utica acres, <5% developed Fayette  356 net undeveloped Utica locations (1) Greene Monroe Marshall  16 net (10 net operated) producing Utica wells Wetzel Fayette RICE FT & M IDSTREAM Monroe Utica Stack Potential  FT: 1.3 MMDth/d of firm capacity: 73% to Gulf Coast/TCO/ Monongalia Midwest markets in 2015  80% by Q4’17  RMP Midstream by YE2015: 4.1 MMDth/d gas gathering PA OH capacity  RICE Midstream by YE2015: 2.6 MMDth/d gas gathering WV capacity and ~24 MMGPD of water distribution __________________________ 1. Net undeveloped locations as of 12/31/14. Approximately 77,000 net acres in the Marcellus Shale is also prospective for the Geneseo (Upper Devonian) Shale. The Upper Devonian and the Marcellus Shale are stacked formations within the same geographic acreage and footprint. See slide entitled “Additional Disclosures” on detail regarding RICE’s methodology for the calculation of locations. 8