Slides
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ARCHROCK, INC. Investor Handout February 2026
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 2 Forward-Looking Statements All statements in this release (and oral statements made regarding the subjects of this release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Archrock, Inc. Forward- looking information includes, but is not limited to statements regarding: guidance or estimates related to Archrock’s results of operations or of financial condition; fundamentals of Archrock’s industry, including the attractiveness of returns and valuation, stability of cash flows, demand dynamics and overall outlook, and Archrock’s ability to realize the benefits thereof; Archrock’s expectations regarding future economic, geopolitical and market conditions and trends; Archrock’s operational and financial strategies, including planned growth, coverage and leverage reduction strategies, Archrock’s ability to successfully effect those strategies, and the expected results therefrom; Archrock’s financial and operational outlook; demand and growth opportunities for Archrock’s services; structural and process improvement initiatives, the expected timing thereof, Archrock’s ability to successfully effect those initiatives and the expected results therefrom; the operational and financial synergies provided by Archrock’s size; statements regarding Archrock’s dividend policy; the expected benefits of the acquisition of Natural Gas Compression Systems, Inc. and NGCSE, Inc. (collectively, “NGCS”), including its expected accretion and the expected impact on Archrock’s leverage ratio; and plans and objectives of management for future operations. While Archrock believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: inability to achieve the expected benefits of the NGCS acquisition and difficulties in integrating NGCS; risks of acquisitions or mergers, including the NGCS acquisition, to reduce our ability to make distributions to our common stockholders; risks related to macroeconomic conditions, including an increase in inflation and trade tensions; pandemics and other public health crises; ongoing international conflicts and tensions; risks related to our operations; competitive pressures; inability to make acquisitions on economically acceptable terms; risks related to our sustainability initiatives; uncertainty to pay dividends in the future; risks related to a substantial amount of debt and our debt agreements; inability to access the capital and credit markets or borrow on affordable terms to obtain additional capital; inability to fund purchases of additional compression equipment; vulnerability to interest rate increases and fluctuations; erosion of the financial condition of our customers; risks related to the loss of our most significant customers; uncertainty of the renewals for our contract operations service agreements; risks related to losing management or operational personnel; dependence on particular suppliers and vulnerability to product shortages and price increases; information technology and cybersecurity risks; tax-related risks; legal and regulatory risks, including climate-related and environmental, social and governance risks. These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties described in Archrock’s Annual Report on Form 10-K for the year ended December 31, 2025, Archrock’s Quarterly Report on Form 10-Q for the quarters ended March 31, 2025, June 30, 2025 and September 30, 2025 and as set forth from time to time in Archrock’s filings with the Securities and Exchange Commission. These filings are available online at www.sec.gov and www.archrock.com. Except as required by law, Archrock expressly disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 3 ▪ Natural gas compression company based in Houston, Texas ▪ A premier outsourced compression provider in U.S.(1) ▪ Compression is a must-run service for gas transportation ▪ Specialize in large HP servicing midstream gathering systems and electric motor drive ▪ Fee-based contracts with high-quality, long-term customers ▪ Strong geographic diversity across all major U.S. gas & oil basins Returns oriented energy infrastructure company Our vision is to provide superior compression services, unmatched technical expertise and an unwavering commitment to safety Archrock – Company Overview (1) Based on total horsepower as of December 31, 2025. (2) Stock price as of February 23, 2026, and shares outstanding as of February 18, 2026. (3) Includes debt balance as of December 31, 2025. (4) Paid on February 18, 2026. (5) Yield calculated as most recent quarterly dividend, annualized and divided by the stock price as of February 23, 2026. • NYSE: AROC • Market Cap: $5.7 billion(2) • Enterprise Value: $8.2 billion(2)(3) • Dividend: $0.22/quarter(4) • Yield: 2.7%(2)(5) • Shares Outstanding: 175 million(2)
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 4 Large HP / Electric Motor Drive Focus Resilience Through Cycles Solid Financial Position • Midstream gathering and gas lift applications; a premier provider of large HP, 74% of fleet(1) and electric motor drive, 19% of fleet(1) • Compression is a must-run service for gas production and transportation • Attractive, long-term & diversified customer relationships • Business driven by oil and gas production • Multi-year, fee-based contracts • Positive EBITDA generated through cycles • Tied to long-term, structural demand for U.S. natural gas • Natural gas is reliable, cleaner and affordable • Diversified asset footprint in leading associated gas basins • 16% YoY increase in dividend per share in Q4 25 and $117.7MM remaining(2) under share repurchase authorization • Strong dividend coverage of 4.9x(3) • Leverage ratio of 2.7x(3) • Digital transformation drives future cost, service and environmental benefits • Invested in helping our customers reduce emissions • Leading provider of electric motor drive capabilities (1) Based on total horsepower as of January 1, 2026. (2) As of December 31, 2025. (3) Quarter ended December 31, 2025. Cash available for dividend coverage is a non-GAAP measure. For a description of such non-GAAP measure, see Addendum I. For a reconciliation to the most comparable GAAP measure, see Addendum I-F. Archrock Investment Highlights An Attractive Energy Infrastructure Investment Structural, Long-term Demand Drivers Sustainable Future
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 352 417 415 361 363 450 595 901 89% 89% 82% 84% 93% 96% 96% 96% 75% 80% 85% 90% 95% 100% 2018 2019 2020 2021 2022 2023 2024 2025 2026 Guidance Adjusted EBITDA Period-end Utilization 5 ▪ Robust Market For Compression. 11 consecutive quarters above 95% utilization(1 ▪ Capturing Growth Ahead. Expect between $250 - $275MM in growth capex for 2026, underpinned by multi-year contracts. ▪ Transformed Platform. Highly standardized large horsepower and electric motor drive units deployed in stable infrastructure segment. ▪ Compelling financial position and free cash flow. Strong balance sheet with leverage ratio at 2.7x(1) drives focus on retaining flexibility for organic and inorganic growth, increasing shareholder returns and free cash flow. ▪ Growing returns to investors. Returned $212 million through dividends and share repurchases during 2025, up more than 70% year over year. Significant value drivers Record 2025 Performance and Strong 2026 Outlook $MM 2026 Adjusted EBITDA Outlook Reflects Pricing and Profitability Increases(2) (1) As of the quarter ended December 31, 2025. (2) See Addendum I regarding non-GAAP measures for information on adjusted EBITDA. 2026 guidance provided on February 24, 2026. $865-915
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 6 Financial Performance – 2025 vs. 2025 Full Year Guidance Full Year 2025 Adjusted EBITDA Exceeds Guidance Midpoint Even After Adjusting for Discrete Q4 Items (1) See Addendum I regarding non-GAAP measures and information on adjusted EBITDA. (2) 2025 guidance provided on October 28, 2025. Guidance Range² $835M - $850M $901 $846 $23 $32 2025 reported adjusted EBITDA¹ Q425 prior period sales and use tax audit settlements and credits Q425 gain on sale of assets, net Adjusted EBITDA¹, excluding Q4 discrete items Adjusted EBITDA¹ $ in millions
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 7 Financial Performance – 2025 vs. 2026 Full Year Guidance Improvement in contract operations and SG&A offset by 2025 discrete items (1) See Addendum I regarding non-GAAP measures and information on adjusted EBITDA. Decrease in Adjusted EBITDA¹ Increase in Adjusted EBITDA¹ $901 $884.6 $890 $47 $33 $18 $4 $86 $6 2025 reported adjusted EBITDA¹ 2025 gain on sale of assets, net Prior period sales and use tax audit settlements and credits Estimated reduction of 2026 adjusted EBITDA¹ from 2025 asset sales Aftermarket services Contract operations horsepower growth, rate increases, and cost management SG&A 2026E adjusted EBITDA¹ guidance midpoint Adjusted EBITDA¹ $ in millions
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 383 328 280 352 417 415 361 363 450 595 901 890 $0 $1 $2 $3 $4 $5 $6 $7 $8 $9 $10 $0 $20 $40 $60 $80 $100 $120 $140 Crude oil prices Natural gas prices 8 ▪ Track record of generating attractive EBITDA margins ▪ Financial performance tied to production ▪ Proactive operational enhancements through cycles drive steady margin improvement ▪ Realize positive adjusted EBITDA through cycles A resilient business model tied to production, not commodity prices Adjusted EBITDA margin (%)(1)(2) Solid Profitability Through Cycles Source for oil and gas prices: EIA through December 2025. (1) See Addendum I regarding non-GAAP measures for information on adjusted EBITDA and adjusted EBITDA margin. (2) 2026E represents midpoint of guidance, which was provided on February 24, 2026. Oil $/bbl 38% 41% 35% 39% 43% 47% Adjusted EBITDA Gas $/MMBtu46% 43% 45% 51% 60% 67%
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 9 Balance Sheet Strength Capital Return Capital Investment 3 2 1 2.7x Current Leverage Ratio ~$250-$275 MM 2026E growth capex $0.22 Quarterly Dividend per Share • Reflects the strength and durability of our cash flows • Provides significant flexibility to pursue future organic and inorganic growth opportunities while continuing to return capital to shareholders • Positions us to create long-term value across cycles while maintaining financial strength • 2026 estimated growth capital expenditures of $250-$275 million • New build horsepower investment underpinned by long-term contracts with high-quality customers and attractive returns • Funded by operations, with the potential for additional support from non-strategic asset sale proceeds • Q4 25 dividend represents an approximate 16% increase in dividend per share year-over-year • Dividend growth complemented by strong dividend coverage of 4.9x(1) • $117.7MM remaining under share repurchase authorization(2) Prioritizing growth opportunities 2026 Free Cash Flow Inflection Provides Capital Allocation Flexibility (1) As of December 31, 2025. See Addendum I regarding non-GAAP measures for information on adjusted EBITDA, cash available for dividend and cash available for dividend coverage. (2) As of December 31, 2025.
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC DIVIDER OPERATIONS
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 11 What Does it Look Like? ▪ Equipment that moves natural gas through infrastructure systems to consuming markets ▪ Compression also used to provide enhanced oil production rates through gas lift ▪ 24 hours a day, 7 days a week, 365 days a year operation ▪ Compression needed across the energy value chain, from the wellhead to distribution ▪ Can be owned or outsourced to a compression specialist such as Archrock A Must-Run Service Reduces capital expenditures Leverages Archrock’s compression expertise Utilizes Archrock’s operational footprint & execution capability Limits risk of idle customer assets after initial application Benefits to customer of outsourcing Compression increases pressure within a pipeline to transport natural gas Premier Provider of Outsourced Compression Large horsepower unit (1,875 HP) Electric motor drive unit
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 12 Characteristic The Midstream Benefit The Result to Archrock Production Focused Relatively stable compression demand • Utilization range between 82% and 96%(2) Longer Contracts Longer-term, fee-based assignments • Average time on-site over 6 years(3) Earnings Stability Relative adjusted EBITDA stability through cycles • Shareholder return and organic and inorganic growth Financial Flexibility Strong cash flow generation • 4.9x dividend coverage(4)(5) (1) Based on operating horsepower as of January 1, 2026. (2) Period utilization for 2018 through December 31, 2025. (3) Year ended December 31, 2025. (4) Quarter ended December 31, 2025. (5) Cash available for dividend coverage is a non-GAAP measure. For a description of such non-GAAP measure, see Addendum I. For a reconciliation to the most comparable GAAP measure, see Addendum I-F. Our midstream focus results in greater stability Archrock’s Focus on Midstream 60% of Operating HP on Gathering Applications(1)
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 13 ▪ Regional diversification provides protection against basin-specific headwinds ▪ Positioned in low-cost basins ▪ Permian and Eagle Ford represent ~76% of operating HP(1) ▪ Driving strong demand for our horsepower, even in a lower gas price environment Meaningful presence in every major shale play Diverse, Scalable Footprint (1) AROC HP as of January 1, 2026. Indicates active horsepower unit as of June 30, 2025.
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 14 ▪ Our Aftermarket Services business expands our addressable market ▪ Allows us to service the customer base that owns their compression ▪ Provides attractive diversification to customer and service base (1) Chart represents operating HP for outsourced compression (in thousands). Archrock operating HP as of January 1, 2026. KGS and NGSG operating HP as of September 30, 2025. USAC pro-forma operating HP based on USAC reported operating HP as of September 30, 2025 plus announced J-W Power operating HP as of closing on January 12, 2026. Axip and other operating HP estimate as of June 30, 2025. Based on SEC filings and management estimates. Outsourced ~30% of market ~70% of market Contract Operations(1) Aftermarket Services (AMS) Leading contract compression position supplemented by AMS capabilities OwnedTotal Compression Market A Leader in U.S. Natural Gas Compression 4,571 4,409 4,351 526 500 2,691 0 1,000 2,000 3,000 4,000 5,000 AROC Category 2 KG S Other
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 15 Contract Operations Customer Base Strong relationships with top-tier energy companies (1) For the year ended December 31, 2025. Contract Operations revenue. (2) As of December 31, 2025. (3) As of January 1, 2026. Top 10 Customers~58% % of revenue from top 10 customers(1) Revenue Diversification Long-term Relationships High Quality Partners >20 years Avg. relationship length with top 10 customers(2) 9 of 10 Top 10 customers with investment grade credit(2) Revenue Stability 81% Operating HP under long-term contract or strategic agreement(3)
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT Contract Operations Adjusted Gross Margin %(3) 16 Compressor Units Multi-year high-grading of our fleet, talent, customers and technology Franchise Transformation Delivering Results (1) Based on total horsepower and unit count at year end. (2) Total horsepower at year end, weighted by horsepower. (3) For the year ended December 31, 2025, Adjusted Gross Margin excludes the discrete $33 million sales and use tax benefit recognized in Cost of Operations. See Addendum I regarding non-GAAP measures for information on adjusted gross margin; based on average operating HP. Fleet Age (Years)(2) Horsepower per Unit(1) 400 500 600 700 800 900 1,000 2017 2025 +71% 8 9 10 11 12 13 2017 2025 -16% 0 2,000 4,000 6,000 8,000 2017 2025 -30% 57% 70% 2017 2025
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 45 73 77 97 2021 2025 1,000 - 1,500 HP >1,500 HP 17 Active fleet management increases average time on location Franchise Transformation - Time on Location (1) Weighted average based on operating horsepower per unit. 6.1 YEARS ▪ Average time on location has increased 61% since 2021 to 73 months ▪ Fleet standardization, including divestiture of small HP units ▪ Improved compression market conditions ▪ Larger units on location even longer ▪ 1,000 – 1,500 HP at 6.4 years ▪ >1,500 HP at 8.1 years 61% Average Time on Location (months)(1)
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC DIVIDER FUNDAMENTALS
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 19 Strong U.S. natural gas volumes and record compression market tightness Industry Fundamentals Support Multi-Year Upcycle 82% 82% 93% 95.5% 50% 60% 70% 80% 90% 100% 60 70 80 90 100 110 120 130 2016 2018 2020 2022 2024 2026 2028 2030 AROC Period-end Utilization Production (Bcf/d) U.S. Natural Gas Production (BCF/d) AROC Period-end Utilization Forecast Durable Natural Gas Fundamentals 11% U.S. gas production growth 2025-2030(1) Historically High Equipment Utilization 11 consecutive quarters exceeding 95%(2) Capital Discipline Significant industry underinvestment U.S. Dry Natural Gas Production and AROC Utilization (1) Source: EIA and Enverus (1) 2025-2030 U.S. gas production represents Enverus forecast (January 2026). (2) As of December 31, 2025.
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 20 Robust medium- and long-term demand drivers led by natural gas export opportunities Key Natural Gas Demand Drivers Pipeline Exports Industrial Power Gen for AI Data Centers LNG Exports U.S. Natural Gas Demand Growth (1) (1) Enverus Fundamental Edge Report (January 2026). Data center power demand from East Daley Analytics: “From Capital to Capacity: America’s Energy Infrastructure Challenge Amid Data and LNG Demand Boom”. 115.3 4.8 1.1 13.3 134.5 2025 US Demand Data Centers Pipeline Exports LNG Exports 2030 US Demand Bcf/d 100.0 105.0 110.0 115.0 120.0 125.0 130.0 135.0 140.0
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 21 Historical trends show gas production continues to grow even after oil production peaks Gas Growth Follows Oil Peaks in Mature Oil Basins 0.00 0.50 1.00 1.50 2.00 0.00 2.00 4.00 6.00 8.00 MMb/d Bcf/d Eagle Ford Production(1) Gas Production (Bcf/d) Oil Production (MMb/d) Oil Change After Peak: -34% Gas Change After Peak: +33% 0.00 0.50 1.00 1.50 2.00 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 MMb/d Bcf/d Bakken Production(1) Gas Production (Bcf/d) Oil Production (MMb/d) Oil Change After Peak: -23% Gas Change After Peak: +11% (1) Historical production data perEnverus Forecast as of January 2026. (2) Gas to Oil Ratio, calculated using historical production data, per Enverus forecast as of January 2026, from January 2014 to December 2025. GOR(2) 3.50 7.16 2014 2025 GOR (2) 1.08 2.98 2014 2025
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT Permian Production BOE/d(1) 22 Oil output is plateauing while gas growth accelerates, GOR trends show a shift toward gas heavy wells The Permian is Getting Gassier 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 0.00 5.00 10.00 15.00 20.00 25.00 30.00 35.00 40.00 2014 2016 2018 2020 2022 2024 2026 2028 2030 MMb/d Bcf/d Permian Production(1) Gas Production (Bcf/d) Oil Production (MMb/d) Oil Growth Forecast: 13% Gas Growth Forecast: 35% (1) Historical production data perEnverus Forecast as of January 2026. Growth forecast from December 2025 to December 2030. (2) Gas to Oil Ratio, calculated using historical production data, per Enverus forecast as of January 2026, from January 2014 to December 2025. GOR(2) 3.18 4.55 2014 2025 35% 65% 2014 Gas Oil 48%52% 2030 Gas Oil
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC DIVIDER FINANCIALS
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 24 Growing and Well-Covered Dividend 49 consecutive quarters of cash dividends (1) Current represents most recent quarterly dividend, annualized. (2) See Addendum I regarding non-GAAP measures for information on cash available for dividend coverage. Cash Available for Dividend Coverage(2) 1.14x 3.0x 2.8x 2.9x 2.2x 1.9x 2.4x 3.1x 4.0x 2017 2018 2019 2020 2021 2022 2023 2024 2025 Recent Dividends per Share Declared(1) $0.48 $0.50 $0.57 $0.58 $0.58 $0.58 $0.63 $0.70 $0.83 $0.88 2017 2018 2019 2020 2021 2022 2023 2024 2025 Current
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT Solid Balance Sheet Position 25 Low leverage and no near-term debt maturities ▪ No near-term debt maturities ▪ Q4 25 leverage ratio of 2.7x ▪ Ample liquidity to support current operations along with organic and inorganic growth $MM Revolver credit facility capacity(2) $1,500 Borrowings under facility $(918) Letters of credit $(3) Pro-forma paydown of credit facility from issuance of Senior Notes due 2034 $788 Pro-forma Borrowing Capacity of Archrock $1,367 Archrock Borrowing Capacity Summary(1) Balance Sheet & Funding Overview (1) Pro-forma as of December 31, 2025, after giving effect to the issuance of Senior Notes due 2034 on January 21, 2026, and subsequent paydown of credit facility. (2) Revolver credit facility capacity upsized to $1.5B as of May 16, 2025. 800 130 700 800 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2034 C C D D Debt Maturity Schedule(1)(2) ($MM) 6.25% senior notes due 2028B Revolving credit facility due 2028 A A B 6.625% senior notes due 2032 6.0% senior notes due 2034
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 5.2x 5.0x4.9x 4.7x 4.4x4.4x4.4x4.3x4.2x 4.1x4.1x4.0x 4.2x4.1x 4.3x 4.3x 4.3x4.5x4.4x4.3x4.4x 4.1x4.2x 3.8x 3.5x 3.2x3.2x 3.6x 3.3x3.2x3.3x 3.1x 2.7x 26 Optimized Balance Sheet Current leverage ratio at 2.7x, leaving flexibility and capacity for growth Note: Q417 and Q118 are presented pro forma for the merger of APLP. Q120 presented pro forma for redemption of senior notes due 2022. ▪ Long-term leverage ratio target of 3.0x – 3.5x
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC DIVIDER SUSTAINABILITY AND NEW VENTURES
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 28 Investments in emerging emissions management technologies New Ventures Summary CHALLENGE TECHNOLOGY SOLUTION INVESTMENT 1. Methane leaks Methane detection, monitoring and measurement Equity investment in ECOTEC 2. Methane from blowdowns and rod packings Methane capture CARBON HAWK Proprietary, patented device 3. Post-combustion CO2 from compressor engines Electric Motor Drive Compressors Growth capex Acquisition of Total Operations and Production Services, LLC (“TOPS”) Carbon capture Equity investment in IONADA 4. Fuel gas supply to compressor engines Gas separation and natural gas liquids recovery solution Limited liability agreement with FGC HOLDCO for development of MaCH4 NGL RECOVERY SOLUTION 5. Unscheduled downtime Physics based AI models to better predict shutdown events Simple Agreement for Future Equity (SAFE) in SHORELINE AI
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT ▪ Own a 25% equity stake in Ecotec International Holdings, LLC (ECOTEC), a global leader in methane emissions monitoring and management ▪ Proven technology and emissions detection history with natural gas, utility, landfills, RNG, and carbon credits ▪ New product development focused on oil and gas methane detection and measurement ▪ ECOFLOW captures direct measurement of methane flow rates from compressor packing vents ▪ Gazoscan Mini provides laser detection of methane in a compact and cost-effective package ▪ Methane Slip Kit allows the measurement of exhaust gas methane volumes with a portable instrument ▪ ECOTEC management has 30+ year history in biogas, waste management, and utilities industries ▪ Development of best practices for the oil and gas industry focused on safety, compliance, and operational efficiency gains 29 Methane emissions management investment and partnership Investment in ECOTEC
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 30 Carbon Hawk: Proprietary Methane Capture ▪ Archrock New Ventures Team developed Carbon Hawk technology that captures rod packing and blowdown emissions ▪ Carbon Hawk solution meets requirements of a closed vent system, making it compliant with the EPA’s new NSPS OOOOb rules ▪ Complementary and value enhancing to our core contract compression services ▪ Skid mounted solution for natural gas powered and electric motor driven compressor packages ▪ Can be applied to existing compression facilities as well as greenfield locations ▪ No site power required ▪ A single unit is capable of capturing gas from up to five compressors ▪ Will allow us to maintain our commitment to maximize uptime ▪ Extensive testing of the technology in a lab setting prior to commercial deployment ▪ Units installed and operating throughout the industry Successful field pilot of patented technology
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 31 Archrock Carbon Capture Partnership with Ionada ▪ Archrock served as a lead investor in a Series A financing round for Ionada PLC, a global carbon capture technology company ▪ Ionada has developed a post-combustion carbon capture solution ▪ Designed and engineered for small to mid-sized industrial emitters in the energy, marine, and e-fuels industries ▪ Conducted extensive research and development and completed successful testing in a lab setting ▪ We believe Ionada’s technology is scalable and cost efficient, with possible application to natural gas compression ▪ Archrock’s investment is expected to be used primarily for additional research and development, as well as the construction of field demonstration units Scalable and cost-efficient technology
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 32 Archrock and MaCH4 NGL Recovery ▪ Archrock entered into a limited liability agreement with FGC Holdco, a subsidiary of ColdStream Energy Holdings, LLC, to develop and commercialize the MaCH4 Natural Gas Liquids (NGL) recovery unit ▪ The MaCH4 NGL recovery unit provides the following benefits for locations with high BTU fuel: ▪ Recovery of NGLs from the combustion process of natural gas fired engines ▪ Delivers residue quality fuel gas, providing increased engine run time and horsepower ▪ Reduces VOC emissions by up to 70% ▪ The MaCH4 utilizes proven Pressure Swing Adsorption technology that is not impacted by ambient weather conditions ▪ NGLs remain in gaseous form eliminating the need for storage tanks and trucking Proven gas separation solution for compressor engine fuel gas and NGL recovery
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 33 Large HP / Electric Motor Drive Focus Resilience Through Cycles Structural, Long-Term Demand Drivers Solid Financial Position Sustainable Future We are a premier U.S. natural gas compression provider Key Takeaways
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC DIVIDER APPENDIX
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 35 South Coast Gas ▪ South Coast Gas Compression established – legacy entity of Universal Compression (1954) Successful 70-year company history with proven success over time 1950s 1990 – 2006 2007 – 2014 2015 – Current Our Rich Company Legacy ▪ Acquisitions: – Dresser Rand (2000) – Schlumberger (2001) – Halliburton (1994) – Tidewater (1998) – Weatherford (2001) ▪ Universal Compression forms first publicly traded compression MLP – Universal Compression Partners (2006) ▪ Merger of Hanover Compression and Universal Compression (2007) ▪ Exterran Partners LP is renamed due to merger with Universal / Hanover (2007) ▪ Acquisition: – 550,000 horsepower from MidCon Compression (2014) ▪ Spin-off of Exterran’s International Services and Global Fabrication businesses (2015) ▪ Archrock brands U.S. Contract Operations and AMS businesses ▪ Archrock acquires Archrock Partners and eliminates IDRs in simplification transaction (2018) ▪ Acquisitions: – Elite Compression’s 430,000 horsepower fleet (2019) – TOPS, including 580,000 horsepower fleet (2024) – NGCS, including 344,000 horsepower fleet (2025)
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 36 ▪ Ability to serve the entire U.S. compression market ▪ Margin contribution from customers with their own compression solutions ▪ Minimal capital requirements, enhancing overall returns ▪ Leverages existing infrastructure and contract compression business customer network • Sale of compressor components (engines, compressors, other parts) • Used for maintenance and repair of compression equipment • Scheduled on-site maintenance • Major on-site maintenance • Unscheduled on-site call-outs Field Services Parts Shop Services • Parts remanufacturing, valve repair and machining • Re-design of existing assets to meet new operating requirements • Performed in Archrock shops across the U.S. Solid opportunities to service customer-owned compressors Aftermarket Services Capabilities
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 37 Attractive Dividend Profile 1% 3% 3% 4% 7% S&P 500 XLU Utilities Index AROC AMNA Midstream Index AMZ Midstream MLP Index Dividend/Distribution Yield(1) (1) Based on Bloomberg data as of February 13, 2026. Archrock yield includes most recently announced quarterly dividend, annualized. Compelling dividend yield
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 3,388 3,329 3,295 3,196 3,247 3,275 3,322 3,353 3,448 3,504 3,578 3,608 3,607 3,593 3,601 4,179 4,227 4,283 4,651 4,651 4,571 82% 82% 82% 82% 84% 84% 87% 89% 93% 94% 95% 96% 96% 95% 95% 95% 96% 96% 96% 96% 96% 30% 40% 50% 60% 70% 80% 90% 2,500 3,000 3,500 4,000 4,500 5,000 Operating HP (000s) Utilization (%) 65%63%63%61%62%61%59%58%58%58%62%64%64%65%65%67%70%70%70%73%78% 13% 12% 13% 15% 15% 15% 16% 17% 17% 19% 24% 20% 22% 23% 22% 26% 23% 25% 23% 23% 24% 57%55%55%53%53%53%49%50%50%51%55%56%57%58%58%61%64%64%62%66%71% Contract Operations AMS Total 169 166 164 159 160 164 166 170 177 188 201 208 213 223 225 245 286 300 318 326 32731 29 32 36 36 34 50 43 42 42 46 46 47 45 45 47 40 47 65 56 50 Contract Operations Aftermarket Services 38 Financial & Operational Stability Maintaining strong profitability and fleet utilization (1) See Addendum I regarding non-GAAP measures for information on adjusted gross margin, adjusted EBITDA and adjusted EBITDA margin. Adjusted EBITDA(1) ($MM) Total Operating HP (period end) 89 98 87 92 83 81 99 92 89 97 113 120 120 131 130 151 184 198 213 221 269 45% 50% 44% 47% 43% 41% 46% 43% 41% 42% 46% 47% 46% 49% 48% 52% 56% 57% 56% 58% 71% 0 0 0 0 1 1 1 1 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 Adjusted EBITDA Adjusted EBITDA Margin Revenue ($MM) Adjusted Gross Margin(1)%
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 39 Best in Class Safety Record ▪ Target Zero is foundation of internal HSE program, which reports directly to CEO and reports quarterly safety results to board of directors ▪ Member of ISNetworld® ▪ TRIR of 0.22 in 2025, ahead of 0.50 target ▪ GPS monitoring of vehicles with PVIR of 0.23 in 2025, ahead of 0.50 target ▪ No lost time incidents / injuries Safety culture reflected in excellent performance “We believe that nothing is more important than safety – both on the job and away from it – and that is why excellence in safety is a core value at Archrock.” – Brad Childers, President & CEO Safety Trends 0.36 0.40 0.54 0.21 0.10 0.32 0.05 0.17 0.22 0.00 0.04 0.18 0.04 0.00 0.00 0.00 0.04 0.00 0.96 2.07 1.33 0.85 0.63 0.64 0.91 0.84 0.00 0.50 1.00 1.50 2.00 2.50 2017 2018 2019 2020 2021 2022 2023 2024 2025 TRIR LTIR GCA Average
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 40 Leveraging the strength of our core compression franchise as we invest in emissions reduction Committed to Helping Customers Reduce Emissions Improved Compression Engine Emissions Efficiency ▪ Focus on large horsepower ▪ Establishing leadership in electric motor-drive compression ▪ Divesting older, higher-emitting compression ▪ New Ventures Team exploring and developing solutions to support our customers’ emissions reduction goals ▪ Leveraging remote monitoring to reduce vehicle miles; expected to reduce Scope 1 emissions Note: NOx emissions are estimates based on internal analysis of operating horsepower and engine configurations, applied consistently across all years reported.
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 41 Management Overview D. Bradley Childers, President and Chief Executive Officer Brad Childers is President, Chief Executive Officer and a director of Archrock. Previously, he served as Chairman of the Board of Archrock GP LLC, the managing general partner of Archrock Partners, L.P., as Senior Vice President and as President, North America Operations, of Exterran Energy Solutions, L.P. and as Senior Vice President, Corporate Development. Prior to the 2007 merger of Hanover Compressor Company and Universal Compression Holdings, Inc. ("Universal"), Childers joined Universal in 2002 and served in a number of management positions, including as President of the International Division of Universal Compression, Inc. (Universal's wholly owned subsidiary), and as Senior Vice President, Business Development of Universal. Childers also is an officer of certain Archrock majority-owned subsidiaries. Doug S. Aron, Senior Vice President and Chief Financial Officer Doug Aron is Senior Vice President and Chief Financial Officer of Archrock, and he is also an officer and director of certain Archrock majority- owned subsidiaries. Mr. Aron previously served as Executive Vice President and Chief Financial Officer of HollyFrontier Corporation from 2011 to 2017, having served in the same capacity for Frontier Oil Corporation from 2009. He also served as Frontier’s Vice President of Corporate Finance from 2005 to 2008 and as Director of Investor Relations from 2001 to 2005. During 2017, he served as Executive Vice President and Chief Financial Officer of Nine Energy Service. Stephanie C. Hildebrandt, Senior Vice President, General Counsel and Secretary Stephanie Hildebrandt is Senior Vice President, General Counsel and Secretary of Archrock. Prior to joining Archrock in August 2017, Hildebrandt was a partner with the Houston office of Norton Rose Fulbright, with a practice focused on corporate governance, energy transactions and mergers and acquisitions. Previously, she was Senior Vice President, General Counsel and Secretary of Enterprise Products Partners L.P., a publicly traded pipeline partnership and a provider of midstream energy service, from 2010 to 2014, and held various other roles at Enterprise from 2004, including Vice President, Deputy General Counsel and Assistant Secretary. Hildebrandt was an attorney for El Paso Corporation / GulfTerra Energy Partners from 2001 until its merger with Enterprise in 2004 and an attorney for Texaco, Inc. from 1989 to 2001. Highly qualified and experienced management team
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 42 Management Overview Cont. Jason G. Ingersoll, Senior Vice President, Sales and Operations Support Jason Ingersoll is Senior Vice President, Sales and Operations Support of Archrock, where he is responsible for sales teams and processes, including direct sales, strategic accounts, business development and sales support infrastructure. He also serves as Senior Vice President of Marketing & Sales of Archrock GP LLC. Previously, he held positions of increasing responsibility with Exterran Energy Solutions, L.P., including Vice President, Sales, Regional Vice President of the West Region of North America, Business Unit Director of the Northern Rockies and Business Unit Director of the Southern Rockies. He joined a predecessor of Archrock, Universal Compression in 1998 where he held several positions of increasing responsibility including Country Manager of China located in Beijing, China. Highly qualified and experienced management team Eric W. Thode, Senior Vice President, Operations Eric Thode is Senior Vice President, Operations of Archrock. He previously served as Vice President, Operations from October 2018 and as Vice President of the South Texas Business Unit prior to this. He was the Director of the South Texas Business Unit from December 2014 to July 2018 and the Director of the Barnett Business Unit from June 2012 to December 2014 of Archrock Services, L.P., our wholly-owned operating subsidiary. He also previously served as Director, Business Development, negotiating alliance contracts that generated over $100 million in annual revenue. He has worked with us and our predecessor subsidiaries, Exterran Energy Services, L.P. and Universal Compression, Inc., since 2004. Prior to joining us, Mr. Thode worked at Enron Corporation as Director, Public Relations from 1999 to 2004 and at TEPPCO Partners as Manager, Government and Public Affairs from 1991 to 1999. Elspeth A. Inglis, Senior Vice President, Human Resources and Chief Human Resources Officer Elspeth Inglis is Senior Vice President, Human Resources and Chief Human Resources Officer of Archrock. She served as Vice President, Culture Integration at Baker Hughes during the merger with GE Oil and Gas from 2016 to 2019. From 2013 to 2016, she served at GE Oil and Gas as Head of Human Resources, Downstream Technology Services, a global manufacturing business. Previously, she worked for Reliance Industries from 2011 to 2013 as Vice President, Human Resources supporting the startup operations for their US unconventional shale gas business. She served in a number of positions from 2002 to 2009 at CGG, one of the industry’s largest pure play geophysical services companies, including Marine HR Manager, VP HR Western Hemisphere in Houston and SVP Geophysical Services based in Paris. From 1987 to 2001, she held a number of positions of increasing responsibility at Enron, Total and Corporation of London. She serves on the Human Resource Committee of Catholic Charities Board and is an Advisory Board Member of Workforce Next.
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 43 Archrock Addendum I-A Archrock, Inc. Adjusted EBITDA, a non-GAAP measure, is defined as net income (loss) excluding interest expense, provision for income taxes, depreciation and amortization, long-lived and other asset impairment, unrealized change in fair value of investment in unconsolidated affiliate, restructuring charges, debt extinguishment loss, transaction-related costs, non-cash stock-based compensation expense, amortization of capitalized implementation costs and other items. A reconciliation of net income, the most directly comparable GAAP measure, to adjusted EBITDA, and a reconciliation of our full year 2026 net income to adjusted EBITDA guidance, appear below. Adjusted gross margin, a non-GAAP measure, is defined as total revenue less cost of sales, excluding depreciation and amortization. Adjusted gross margin percentage, a non-GAAP measure, is defined as adjusted gross margin divided by revenue. A reconciliation of net income to adjusted gross margin, and a reconciliation of gross margin, the most directly comparable GAAP measure, to adjusted gross margin and adjusted gross margin percentage, appear below. Cash available for dividend, a non-GAAP measure, is defined as net income (loss) excluding interest expense, provision for income taxes, depreciation and amortization, long-lived and other asset impairment, unrealized change in fair value of investment in unconsolidated affiliate, restructuring charges, debt extinguishment loss, transaction-related costs, non-cash stock-based compensation expense, amortization of capitalized implementation costs and other items, less maintenance capital expenditures, other capital expenditures, cash taxes and cash interest expense. Reconciliations of net income and net cash provided by operating activities, the most directly comparable GAAP measures, to cash available for dividend, and a reconciliation of our full year 2026 net income to cash available for dividend guidance, appear below. Cash available for dividend coverage, a non-GAAP measure, is defined as cash available for dividend divided by dividends declared for the period.
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 44 AROC Addendum I-B (1) See Addendum I-A for more information on adjusted gross margin and adjusted gross margin percentage and Addendum I-C for a reconciliation to net income (loss). Revenue, Cost of Sales, Gross Margin and Adjusted Gross Margin ($ in thousands) 2017 2018 Q1-19 Q2-19 Q3-19 Q4-19 2019 Q1-20 Q2-20 Q3-20 Q4-20 2020 Q1-21 Q2-21 Q3-21 Q4-21 2021 Q1-22 Q2-22 Q3-22 Q4-22 2022 Q1-23 Q2-23 Q3-23 Q4-23 2023 Q1-24 Q2-24 Q3-24 Q4-24 2024 Q1-25 Q2-25 Q3-25 Q4-25 2025 Revenue Contract Operations $610,921 $672,536 $182,507 $186,258 $198,337 $204,437 $771,539 $206,974 $187,949 $175,223 $168,772 $738,918 $166,034 $163,865 $158,911 $159,501 $648,311 $163,656 $166,298 $170,497 $177,350 $677,801 $187,745 $201,120 $207,552 $213,022 $809,439 $223,051 $225,468 $245,420 $286,466 $980,405 $300,397 $318,327 $326,269 $327,088 $1,272,081 Aftermarket Services 183,734 231,905 53,652 52,132 46,612 41,550 193,946 42,723 32,367 30,408 30,554 136,052 29,397 31,750 36,255 35,748 133,150 33,545 49,530 43,171 41,521 167,767 42,089 46,423 45,815 46,571 180,898 45,437 45,058 46,741 39,950 177,186 46,766 64,825 56,161 49,985 217,737 Total Revenue 794,655 904,441 236,159 238,390 244,949 245,987 965,485 249,697 220,316 205,631 199,326 874,970 195,431 195,615 195,166 195,249 781,461 197,201 215,828 213,668 218,871 845,568 229,834 247,543 253,367 259,593 990,337 268,488 270,526 292,161 326,416 1,157,591 347,163 383,152 382,430 377,073 1,489,818 Cost of Sales (excluding depreciation and amortization) Contract Operations 263,005 273,013 74,735 70,521 75,941 76,063 297,260 78,651 63,390 60,444 58,602 261,087 61,365 61,387 61,280 60,454 244,486 64,501 68,355 71,694 74,348 278,898 79,482 76,033 75,273 75,960 306,748 77,743 79,278 79,810 86,221 323,052 89,799 96,152 86,710 70,475 343,136 Aftermarket Services 155,917 191,354 43,902 42,215 37,625 35,236 158,978 34,991 28,686 25,709 26,720 116,106 25,783 27,490 30,652 30,506 114,431 28,638 41,710 35,833 34,405 140,586 33,908 35,343 36,688 36,332 142,271 35,000 35,158 34,395 30,896 135,449 35,257 49,886 43,115 38,031 166,289 Total Cost of Sales (excluding depreciation and amortization) 418,922 464,367 118,637 112,736 113,566 111,299 456,238 113,642 92,076 86,153 85,322 377,193 87,148 88,877 91,932 90,960 358,917 93,139 110,065 107,527 108,753 419,484 113,390 111,376 111,961 112,292 449,019 112,743 114,436 114,205 117,117 458,501 125,056 146,038 129,825 108,506 509,425 Depreciation and amortization 188,563 174,946 44,106 45,482 48,409 50,087 188,084 49,822 48,849 47,279 47,188 193,138 45,712 44,193 45,280 43,761 178,946 43,039 41,356 39,953 39,911 164,259 40,181 41,210 42,155 42,695 166,241 42,835 43,853 48,377 58,129 193,194 57,620 63,139 67,130 68,872 256,761 Gross Margin 187,170 265,128 73,416 80,172 82,974 84,601 321,163 86,233 79,391 72,199 66,816 304,639 62,571 62,545 57,954 60,528 243,598 61,023 64,407 66,188 70,207 261,825 76,263 94,957 99,251 104,606 375,077 112,910 112,237 129,579 151,170 505,896 164,487 173,975 185,475 199,695 723,632 Depreciation and Amortization 188,563 174,946 44,106 45,482 48,409 50,087 188,084 49,822 48,849 47,279 47,188 193,138 45,712 44,193 45,280 43,761 178,946 43,039 41,356 39,953 39,911 164,259 40,181 41,210 42,155 42,695 166,241 42,835 43,853 48,377 58,129 193,194 57,620 63,139 67,130 68,872 256,761 Adjusted Gross Margin(1) 375,733 440,074 117,522 125,654 131,383 134,688 509,247 136,055 128,240 119,478 114,004 497,777 108,283 106,738 103,234 104,289 422,544 104,062 105,763 106,141 110,118 426,084 116,444 136,167 141,406 147,301 541,318 155,745 156,090 177,956 209,299 699,090 222,107 237,114 252,605 268,567 980,393 Contract Operations Adjusted Gross Margin 347,916 399,523 107,772 115,737 122,396 128,374 474,279 128,323 124,559 114,779 110,170 477,831 104,669 102,478 97,631 99,047 403,825 99,155 97,943 98,803 103,002 398,903 108,263 125,087 132,279 137,062 502,691 145,308 146,190 165,610 200,245 657,353 210,598 222,175 239,559 256,613 928,945 Aftermarket Services Adjusted Gross 27,817 40,551 9,750 9,917 8,987 6,314 34,968 7,732 3,681 4,699 3,834 19,946 3,614 4,260 5,603 5,242 18,719 4,907 7,820 7,338 7,116 27,181 8,181 11,080 9,127 10,239 38,627 10,437 9,900 12,346 9,054 41,737 11,509 14,939 13,046 11,954 51,448 Total Adjusted Gross Margin 375,733 440,074 117,522 125,654 131,383 134,688 509,247 136,055 128,240 119,478 114,004 497,777 108,283 106,738 103,234 104,289 422,544 104,062 105,763 106,141 110,118 426,084 116,444 136,167 141,406 147,301 541,318 155,745 156,090 177,956 209,299 699,090 222,107 237,114 252,605 268,567 980,393 Adjusted Gross Margin Percentage(1) Contract Operations 57% 59% 59% 62% 62% 63% 61% 62% 66% 66% 65% 65% 63% 63% 61% 62% 62% 61% 59% 58% 58% 59% 58% 62% 64% 64% 62% 65% 65% 67% 70% 67% 70% 70% 73% 78% 73% Aftermarket Services 15% 17% 18% 19% 19% 15% 18% 18% 11% 15% 13% 15% 12% 13% 15% 15% 14% 15% 16% 17% 17% 16% 19% 24% 20% 22% 21% 23% 22% 26% 23% 24% 25% 23% 23% 24% 24% Total Adjusted Gross Margin Percentage 47% 49% 50% 53% 54% 55% 53% 54% 58% 58% 57% 57% 55% 55% 53% 53% 54% 53% 49% 50% 50% 50% 51% 55% 56% 57% 55% 58% 58% 61% 64% 60% 64% 62% 66% 71% 66%
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 45(1) See Addendum I-A for more information on adjusted gross margin. See Addendum I-B for Adjusted Gross Margin Percentage. AROC Addendum I-C Reconciliation of Net Income (Loss) to Adjusted Gross Margin (in thousands) Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Net income (loss) ($14,013) ($4,036) ($12,683) $49,142 $2,069 $4,149 $9,974 $12,968 $19,456 $11,423 $20,407 $46,044 ($61,187) ($30,381) $18,332 $4,791 $4,169 $8,752 $9,304 $5,992 $1,721 $16,746 $15,371 $10,458 $16,485 $24,653 $30,858 $33,002 $40,532 $34,425 $37,516 $59,758 $70,850 $63,420 $71,248 $116,772 Loss from discontinued operations, net of tax - - 54 - - - - - 273 - - - - - - - - - - - - - - - - - - - - - - - - - - - Selling, general and administrative 27,553 25,162 29,108 29,660 27,508 26,649 26,298 21,108 28,989 28,618 29,526 30,594 30,626 28,745 18,681 27,048 25,084 26,077 28,839 27,167 27,773 27,691 30,500 31,220 26,425 28,649 28,558 33,007 31,665 31,163 34,059 42,234 37,207 36,244 37,676 36,679 Long-lived and other asset impairment 8,245 5,508 7,105 8,284 4,710 6,953 6,660 9,804 3,092 8,632 7,097 25,842 6,195 55,210 10,727 7,424 7,073 2,960 5,121 6,243 7,416 4,647 4,154 5,225 2,569 2,892 2,922 3,658 2,568 4,401 2,509 1,203 972 10,847 4,676 1,795 Goodwill impairment - - - - - - - - - - - - 99,830 - - - - - - - - - - - - - - - - - - - - - - - Restatement and other charges 801 1,920 566 1,083 485 (1,076) 396 214 421 24 - - - - - - - - - - - - - - - - - - - - - - - - - - Restructuring and other charges 457 366 422 141 - - - - - - - - 1,728 2,408 2,900 1,414 897 743 313 950 - - - - 1,047 (85) 592 221 - - - - 665 144 688 108 Interest expense 21,421 22,504 22,892 21,943 22,547 23,337 23,518 23,926 23,617 25,954 27,401 27,709 29,665 25,778 25,221 25,052 31,245 25,958 25,508 25,424 25,246 24,456 25,177 26,380 26,581 28,630 28,339 27,938 27,334 27,859 30,179 38,238 37,741 41,711 43,661 42,227 Debt extinguishment loss 291 - - - - 2,450 - - - 3,653 - - - 3,971 - - - - - - - - - - - - - - - - 3,181 - - - - 890 Transaction-related costs - - - 275 4,125 5,686 182 169 180 2,687 4,905 441 - - - - - - - - - - - - - - - - - 1,782 9,220 2,247 3,935 6,127 1,767 876 (Gain) loss on sale of assets, net (757) (1,032) (2,663) (1,223) (1,195) (994) (719) (2,766) 16 (1,801) (7,859) (6,372) (4,116) 2,189 (9,146) 430 (11,032) (3,124) (15,393) (709) (2,112) (18,948) (12,695) (6,739) (3,605) (1,176) (3,237) (2,181) (2,381) (576) (2,218) (12,712) (7,335) (4,297) (3,835) (31,614) Other (income) expense, net (37) 70 (53) (223) 50 (650) 59 384 (221) (209) 49 (280) (555) (438) (324) (42) (1,889) (82) 337 (3,073) 36 497 (585) 1,897 603 1,463 (235) (745) 139 128 (304) 1,598 (684) (2,841) 3,984 (20) Provision for (benefit from) income taxes 323 (1,580) (4,795) (55,031) 354 (1,567) 3,126 4,237 (2,407) 1,191 1,448 (39,377) (15,953) (8,091) 5,808 699 7,024 1,261 3,925 (1,466) 943 9,318 4,266 1,766 6,158 9,931 11,454 9,706 13,053 13,055 15,437 18,604 21,136 22,433 25,425 31,851 Equity in net loss of unconsolidated affiliate - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 187 185 131 Gross margin $92,056 $96,130 $87,416 $100,131 $105,108 $108,268 $113,273 $113,425 $73,416 $80,172 $82,974 $84,601 $86,233 $79,391 $72,199 $66,816 $62,571 $62,545 $57,954 $60,528 $61,023 $64,407 $66,188 $70,207 $76,263 $94,957 $99,251 $104,606 $112,910 $112,237 $129,579 $151,170 $164,487 $173,975 $185,475 $199,695 Depreciation and amortization 47,772 47,248 47,463 46,080 44,455 43,331 43,779 43,381 44,106 45,482 48,409 50,087 49,822 48,849 47,279 47,188 45,712 44,193 45,280 43,761 43,039 41,356 39,953 39,911 40,181 41,210 42,155 42,695 42,835 43,853 48,377 58,129 57,620 63,139 67,130 68,872 Adjusted Gross Margin(1) $139,828 $143,378 $134,879 $146,211 $149,563 $151,599 $157,052 $156,806 $117,522 $125,654 $131,383 $134,688 $136,055 $128,240 $119,478 $114,004 $108,283 $106,738 $103,234 $104,289 $104,062 $105,763 $106,141 $110,118 $116,444 $136,167 $141,406 $147,301 $155,745 $156,090 $177,956 $209,299 $222,107 $237,114 $252,605 $268,567 (1) See Addendum I-A for more information on Adjusted gross margin.
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 46 AROC Addendum I-D (1) The amortization of capitalized implementation costs is a new adjustment beginning in the fourth quarter of 2022; as such, only the amounts for the fourth quarter of 2022 have been included. (2) See Addendum I-A for more information on adjusted EBITDA and adjusted EBITDA margin. Reconciliation of Net Income (Loss) to Adjusted EBITDA and Adjusted EBITDA Margin Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 $19,456 $11,423 $20,407 $46,044 ($61,187) ($30,381) $18,332 $4,791 $4,169 $8,752 $9,304 $5,992 $1,721 $16,746 $15,371 $10,458 $16,485 $24,653 $30,858 $33,002 $40,532 $34,425 $37,516 $59,758 $70,850 $63,420 $71,248 $116,772 273 - - - - - - - - - - - - - - - - - - - - - - - - - - - 44,106 45,482 48,409 50,087 49,822 48,849 47,279 47,188 45,712 44,193 45,280 43,761 43,039 41,356 39,953 39,911 40,181 41,210 42,155 42,695 42,835 43,853 48,377 58,129 57,620 63,139 67,130 68,872 3,092 8,632 7,097 25,842 6,195 55,210 10,727 7,424 7,073 2,960 5,121 6,243 7,416 4,647 4,154 5,225 2,569 2,892 2,922 3,658 2,568 4,401 2,509 1,203 972 10,847 4,676 1,795 - - - - - - - - - - - - - - - 1,864 254 1,742 - (1,023) - - - 1,484 - - - 25 Goodwill impairment - - - - 99,830 - - - - - - - - - - - - - - - - - - - - - - - 421 24 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,728 2,408 2,900 1,414 897 743 313 950 - - - - 1,047 (85) 592 221 - - - - 665 144 688 108 - - - - - - - - - - - - - - - - - - - - - - - - - - - - 23,617 25,954 27,401 27,709 29,665 25,778 25,221 25,052 31,245 25,958 25,508 25,424 25,246 24,456 25,177 26,380 26,581 28,630 28,339 27,938 27,334 27,859 30,179 38,238 37,741 41,711 43,661 42,227 - 3,653 - - - 3,971 - - - - - - - - - - - - - - - - 3,181 - - - - 890 180 2,687 4,905 441 - - - - - - - - - - - - - - - - - 1,782 9,220 2,247 3,935 6,127 1,767 876 2,357 1,512 2,276 1,960 3,006 2,772 2,645 2,128 2,663 3,178 2,900 2,595 3,067 2,970 2,998 2,893 3,327 3,197 3,191 3,283 3,964 3,513 3,738 3,431 4,027 4,085 4,488 4,671 101 106 190 (194) (191) (7) (278) 16 (869) - - - - - - - - - - - - - - - 137 (233) 825 325 - - - - - - - - - - - - - - - 543 597 605 639 783 738 824 697 750 762 818 851 904 (2,407) 1,191 1,448 (39,377) (15,953) (8,091) 5,808 699 7,024 1,261 3,925 (1,466) 943 9,318 4,266 1,766 6,158 9,931 11,454 9,706 13,053 13,055 15,437 18,604 21,136 22,433 25,425 31,851 Equity in net loss of unconsolidated affiliate - - - - - - - - - - - - - - - - - - - - - - - - - 187 185 131 $91,196 $100,664 $112,133 $112,512 $112,915 $100,509 $112,634 $88,712 $97,914 $87,045 $92,351 $83,499 $81,432 $99,493 $91,919 $89,040 $97,199 $112,775 $120,150 $120,263 $131,024 $129,712 $150,854 $183,844 $197,845 $212,678 $220,944 $269,447 39% 42% 46% 46% 45% 46% 55% 45% 50% 44% 47% 43% 41% 46% 43% 41% 42% 46% 47% 46% 49% 48% 52% 56% 57% 55% 58% 58% Indemnification (income) expense, net Adjusted EBITDA margin(2) Stock-based compensation expense Provision for (benefit from) income taxes Adjusted EBITDA(2) Amortization of capitalized implementation costs Transaction-related costs ($ in thousands) Net income (loss) Loss from discontinued operations, net of tax Depreciation and amortization Long-lived and other asset impairment Restructuring and other charges Restatement and other charges Corporate office relocation costs Debt extinguishment loss Interest expense Unrealized change in fair value of investment in unconsolidated affiliate
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 47 AROC Addendum I-E Reconciliation of Net Income (Loss) to Adjusted EBITDA and Adjusted EBITDA Margin (1) We revised our definition of adjusted EBITDA to exclude the impact of non-cash stock-based compensation expense. Historical periods for the years ended December 31, 2011 and 2012 have not been updated to conform to the current definition. In addition, during the fourth quarter of 2022, we revised our definition of adjusted EBITDA to exclude the impact of unrealized change in fair value of investment in unconsolidated affiliate and amortization of capitalized implementation costs. Historical periods prior to the year ended December 31, 2022 have not been updated to conform to the current definition. (2) See Addendum I-A for more information on adjusted EBITDA and adjusted EBITDA margin. ($ in thousands) 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Net income (loss) ($355,308) ($37,696) $126,606 $88,661 ($125,697) ($65,243) $18,410 $29,160 $97,330 ($68,445) $28,217 $44,296 $104,998 $172,231 $322,290 (Income) loss from discontinued operations, net 242,605 (96,966) (129,654) (105,774) (33,677) 426 54 - 273 - - - - - - Depreciation and amortization 178,492 181,678 187,476 212,268 229,127 208,986 188,563 174,946 188,084 193,138 178,946 164,259 166,241 193,194 256,761 Long-lived and other asset impairment 5,716 131,417 16,696 42,828 124,979 87,435 29,142 28,127 44,663 79,556 21,397 21,442 12,041 10,681 18,290 Unrealized change in fair value of investment in unconsolidated affiliate - - - - - - - - - - - 1,864 973 1,484 25 Goodwill impairment 31,994 - - - 3,738 - - - - 99,830 - - - - - Restatement and other charges - - - - - 13,470 4,370 19 445 - - - - - - Restructuring and other charges 4,463 2,579 - 5,394 4,745 16,901 1,386 - - 8,450 2,903 - 1,775 - 1,605 Corporate office relocation charges - - - - - - 1,318 - - - - - - - - Interest expense 145,100 129,058 112,194 112,273 107,617 83,899 88,760 93,328 104,681 105,716 108,135 101,259 111,488 123,610 165,340 Debt extinguishment loss - - - - 9,201 - 291 2,450 3,653 3,971 - - - 3,181 890 Transaction-related costs - - 246 2,471 - 172 275 10,162 8,213 - - - - 13,249 12,705 Stock-based compensation expense N/A N/A 6,418 8,998 10,029 8,969 8,461 7,388 8,105 10,551 11,336 11,928 12,998 14,646 17,271 Amortization of capitalized implementation 1,984 2,624 3,009 3,335 Indemnification (income) expense, net - - - - - (2,593) 430 526 203 (460) (869) - - - 1,054 Provision for (benefit from) income taxes (50,379) (77,034) (17,840) (28,066) 53,189 (24,604) (61,083) 6,150 (39,145) (17,537) 10,744 16,293 37,249 60,149 100,845 Equity in net loss of unconsolidated affiliate - - - - - - - - - - - - - - 503 Adjusted EBITDA(1), (2) $202,683 $233,036 $302,142 $339,053 $383,251 $327,818 $280,377 $352,256 $416,505 $414,770 $360,809 $363,325 $450,387 $595,434 $900,914 Revenues Contract operations 570,780 596,011 627,844 729,103 781,166 647,828 610,921 672,536 771,539 738,918 648,311 677,801 809,439 980,405 1,272,081 Aftermarket services 209,076 240,813 234,928 230,050 216,942 159,241 183,734 231,905 193,946 136,052 133,150 167,767 180,898 177,186 217,737 Total $779,856 $836,824 $862,772 $959,153 $998,108 $807,069 $794,655 $904,441 $965,485 $874,970 $781,461 $845,568 $990,337 $1,157,591 $1,489,818 Adjusted EBITDA margin(2) 26% 28% 35% 35% 38% 41% 35% 39% 43% 47% 46% 43% 45% 51% 60%
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 48 AROC Addendum I-F (1) See Addendum I-A for information on adjusted EBITDA, cash available for dividend and cash available for dividend coverage. During the fourth quarter of 2022, we revised our definition of adjusted EBITDA to exclude the impact of unrealized change in fair value of investment in unconsolidated affiliate and amortization of capitalized implementation costs. As such, only the amounts for the fourth quarter of 2022 have been included and historical periods have not been updated to conform to the current definition. Reconciliation of Net Income (Loss) to Adjusted EBITDA and Cash Available for Dividend and Cash Available for Dividend Coverage ($ in thousands) Q1-18 Q2-18 Q3-18 Q4-18 2018 Q1-19 Q2-19 Q3-19 Q4-19 2019 Q1-20 Q2-20 Q3-20 Q4-20 2020 Q1-21 Q2-21 Q3-21 Q4-21 2021 Q1-22 Q2-22 Q3-22 Q4-22 2022 Q1-23 Q2-23 Q3-23 Q4-23 2023 Q1-24 Q2-24 Q3-24 Q4-24 2024 Q1-25 Q2-25 Q3-25 Q4-25 2025 . Net income (loss) $2,069 $4,149 $9,974 $12,968 $29,160 $19,456 $11,423 $20,407 $46,044 $97,330 ($61,187) ($30,381) $18,332 $4,791 ($68,445) $4,169 $8,752 $9,304 $5,992 $28,217 $1,721 $16,746 $15,371 $10,458 $44,296 $16,485 $24,653 $30,858 $33,002 $104,998 $40,532 $34,425 $37,516 $59,758 $172,231 $70,850 $63,420 $71,248 $116,772 $322,290 Loss from discontinued operations, net of tax - - - - - 273 - - - 273 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Depreciation and amortization 44,455 43,331 43,779 43,381 174,946 44,106 45,482 48,409 50,087 188,084 49,822 48,849 47,279 47,188 193,138 45,712 44,193 45,280 43,761 178,946 43,039 41,356 39,953 39,911 164,259 40,181 41,210 42,155 42,695 166,241 42,835 43,853 48,377 58,129 193,194 57,620 63,139 67,130 68,872 256,761 Long-lived and other asset impairment 4,710 6,953 6,660 9,804 28,127 3,092 8,632 7,097 25,842 44,663 6,195 55,210 10,727 7,424 79,556 7,073 2,960 5,121 6,243 21,397 7,416 4,647 4,154 5,225 21,442 2,569 2,892 2,922 3,658 12,041 2,568 4,401 2,509 1,203 10,681 972 10,847 4,676 1,795 18,290 Goodwill impairment - - - - - - - - - - 99,830 - - - 99,830 - - - - - - - - - - - - - - - - - - - - - - - - - Restatement and other charges 485 (1,076) 396 214 19 421 24 - - 445 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Restructuring charges - - - - - - - - - - 1,728 2,408 2,900 1,414 8,450 897 743 313 950 2,903 - - - - - 1,047 (85) 592 221 1,775 - - - - - 665 144 688 108 1,605 Corporate office relocation costs Unrealized change in fair value of investment in unconsolidated affiliate - - - - - - - - - - - - - - - - - 1,864 1,864 254 1,742 (1,023) 973 - - - 1,484 1,484 - - - 25 25 Interest expense 22,547 23,337 23,518 23,926 93,328 23,617 25,954 27,401 27,709 104,681 29,665 25,778 25,221 25,052 105,716 31,245 25,958 25,508 25,424 108,135 25,246 24,456 25,177 26,380 101,259 26,581 28,630 28,339 27,938 111,488 27,334 27,859 30,179 38,238 123,610 37,741 41,711 43,661 42,227 165,340 Debt extinguishment loss - 2,450 - - 2,450 - 3,653 - - 3,653 - 3,971 - - 3,971 - - - - - - - - - - - - - - - - - 3,181 - 3,181 - - - 890 890 Transaction-related costs 4,125 5,686 182 169 10,162 180 2,687 4,905 441 8,213 - - - - - - - - - - - - - - - - - - - - - 1,782 9,220 2,247 13,249 3,935 6,127 1,767 876 12,705 Stock-based compensation expense 1,794 1,969 1,804 1,821 7,388 2,357 1,512 2,276 1,960 8,105 3,006 2,772 2,645 2,128 10,551 2,663 3,178 2,900 2,595 11,336 3,067 2,970 2,998 2,893 11,928 3,327 3,197 3,191 3,283 12,998 3,964 3,513 3,738 3,431 14,646 4,027 4,085 4,488 4,671 17,271 Indemnification (income) expense, net - (538) 27 1,037 526 101 106 190 (194) 203 (191) (7) (278) 16 (460) (869) - - - (869) - - - - - 137 (233) 825 325 1,054 Amortization of capitalized implementation costs - - - - - - - - - - - - - - - - - - 543 1,984 597 605 639 783 2,624 738 824 697 750 3,009 762 818 851 904 3,335 Provision for (benefit from) income taxes 354 (1,567) 3,126 4,237 6,150 (2,407) 1,191 1,448 (39,377) (39,145) (15,953) (8,091) 5,808 699 (17,537) 7,024 1,261 3,925 (1,466) 10,744 943 9,318 4,266 1,766 16,293 6,158 9,931 11,454 9,706 37,249 13,053 13,055 15,437 18,604 60,149 21,136 22,433 25,425 31,851 100,845 Equity in net loss of unconsolidated affiliate - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 187 185 131 503 Adjusted EBITDA (1) $80,539 $84,694 $89,466 $97,557 $352,256 $91,196 $100,664 $112,133 $112,512 $416,505 $112,915 $100,509 $112,634 $88,712 $414,770 $97,914 $87,045 $92,351 $83,499 $360,809 $81,432 $99,493 $91,919 $89,040 $363,325 $97,199 $112,775 $120,150 $120,263 $450,387 $131,024 $129,712 $150,854 $183,844 $595,434 $197,845 $212,678 $220,944 $269,447 $900,914 Less: Maintenance capital expenditures (11,135) (13,121) (12,553) (12,924) (49,733) (14,524) (17,174) (14,145) (12,748) (58,592) (15,157) (8,965) (3,817) (4,019) (31,958) (8,362) (13,015) (14,086) (11,883) (47,346) (13,546) (21,833) (24,084) (24,695) (84,158) (22,562) (27,347) (24,103) (18,156) (92,168) (19,525) (25,415) (21,190) (21,623) (87,753) (22,753) (32,413) (29,629) (25,906) (110,701) Less: Other capital expenditures (4,564) (4,479) (4,797) (3,975) (17,815) (7,124) (3,456) (5,566) (10,005) (26,151) (8,002) (9,086) (7,363) (4,763) (29,214) (2,343) (5,814) (3,430) (1,789) (13,376) (1,983) (1,523) (2,091) (3,849) (9,446) (2,578) (5,129) (5,264) (3,193) (16,164) (2,920) (3,445) (6,945) (7,023) (20,333) (6,019) (11,707) (13,117) (13,189) (44,032) Less: Cash tax (payment) refund 679 1,439 (78) 91 2,131 623 (452) 1,514 288 1,973 195 - (407) 118 (94) (4) (601) 0 358 (247) (3) (400) - (4) (407) (18) (1,120) (53) (120) (1,311) 89 (2,028) (404) 134 (2,209) (92) (2,853) 0 (345) (3,290) Less: Cash interest expense (20,382) (21,303) (21,668) (22,102) (85,455) (21,759) (24,228) (25,630) (25,834) (97,451) (27,837) (24,422) (23,801) (23,737) (99,797) (25,486) (25,169) (24,707) (24,640) (100,002) (24,753) (23,669) (24,390) (25,594) (98,406) (25,794) (26,952) (27,709) (27,310) (107,765) (26,642) (27,231) (29,428) (37,243) (120,544) (36,734) (40,650) (42,461) (41,141) (160,986) Cash available for dividend (1) $45,137 $47,230 $50,370 $58,647 $201,384 $48,412 $55,354 $68,306 $64,213 $236,284 $62,114 $58,036 $77,246 $56,311 $253,707 $61,719 $42,446 $50,128 $45,545 $199,838 $41,147 $52,068 $41,354 $34,898 $170,908 $46,247 $52,227 $63,021 $71,484 $232,979 $82,026 $71,593 $92,887 $118,089 $364,595 $132,247 $125,055 $135,737 $188,866 $581,905 Dividend declared for the period per share 0.12 0.132 0.132 0.132 0.516 0.132 0.145 0.145 0.145 0.567 0.145 0.145 0.145 0.145 0.58 0.145 0.145 0.145 0.145 0.58 0.145 0.145 0.145 0.15 0.58 0.15 0.155 0.155 0.165 0.625 0.165 0.165 0.175 0.19 0.695 0.19 0.21 0.21 0.22 0.83 Dividend declared for the period to all shareholders 15,553 17,116 17,094 17,261 67,024 17,242 22,064 22,051 22,183 83,482 22,226 22,229 22,216 22,192 88,853 22,406 22,404 22,393 22,598 89,590 22,584 22,647 22,645 23,614 91,340 23,504 24,353 24,282 25,913 97,857 25,978 27,977 30,656 33,588 117,962 33,758 37,155 37,007 38,703 146,623 Cash available for dividend coverage (1) 2.90x 2.76x 2.95x 3.40x 3.00x 2.8x 2.5x 3.1x 2.9x 2.8x 2.8x 2.60x 3.5x 2.5x 2.9x 2.8x 1.9x 2.2x 2.0x 2.2x 1.8x 2.3x 1.8x 1.5x 1.9x 2.0x 2.1x 2.6x 2.8x 2.4x 3.2x 2.6x 3.0x 3.5x 3.1x 3.9x 3.4x 3.7x 4.9x 4.0x (1) See Addendum I-A for information cash available for dividend and cash available for dividend coverage.
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 49 AROC Addendum I-F (cont.) (1) See Addendum I-A for information on cash available for dividend and cash available for dividend coverage. Reconciliation of Net Cash Provided by Operating Activities to Cash Available for Dividend ($ in thousands) Q1-19 Q2-19 Q3-19 Q4-19 2019 Q1-20 Q2-20 Q3-20 Q4-20 2020 Q1-21 Q2-21 Q3-21 Q4-21 2021 Q1-22 Q2-22 Q3-22 Q4-22 2022 Q1-23 Q2-23 Q3-23 Q4-23 2023 Q1-24 Q2-24 Q3-24 Q4-24 2024 Q1-25 Q2-25 Q3-25 Q4-25 2025 Net Cash Provided by Operating Activities $81,400 $67,263 $74,962 $66,522 $290,147 $99,129 $67,945 $99,760 $68,444 $335,278 $77,555 $49,062 $82,108 $28,675 $237,400 $76,572 $12,952 $76,808 $37,118 $203,450 $87,856 $30,542 $120,070 $71,719 $310,187 $137,702 $70,651 $96,900 $124,338 $429,591 $115,628 $127,471 $164,530 $214,478 $622,107 Cash flows used in discontinued operations - - 269 - 269 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Inventory write-downs (222) (270) (170) (282) (944) (282) (413) (220) (434) (1,349) (218) (293) (110) (376) (997) (294) (427) (319) (600) (1,640) (216) (143) (22) (164) (545) (199) (318) (51) 18 (550) (188) (280) (324) (121) (913) (Provision for) benefit from credit losses (428) 93 (644) (1,588) (2,567) (752) (1,530) 47 (1,290) (3,525) (224) 439 (366) 241 90 (108) (257) 393 (234) (206) 340 (200) 94 (458) (224) 75 (80) (90) (286) (381) (156) (71) (297) (640) (1,164) Gain (loss) on sale of assets, net (16) 1,801 7,859 6,372 16,016 4,116 (2,189) 9,146 (430) 10,643 11,032 3,124 15,393 709 30,258 2,112 18,948 12,695 6,739 40,494 3,605 1,176 3,237 2,181 10,199 2,381 576 2,218 12,712 17,887 7,335 4,297 3,835 31,614 47,081 Current income tax provision (benefit) 476 127 (41) (110) 452 13 60 (21) 175 227 432 (142) 142 (67) 365 57 731 115 161 1,064 277 395 460 459 1,591 593 615 (146) 997 2,059 1,182 2,155 (1,804) 1,521 3,054 Cash tax (payment) refund 623 (452) 1,514 288 1,973 195 - (407) 118 (94) (4) (601) - 358 (247) (3) (400) - (4) (407) (18) (1,120) (53) (120) (1,311) 89 (2,028) (404) 134 (2,209) (92) (2,853) 0 (345) (3,290) Amortization of operating lease ROU assets (712) (713) (726) (780) (2,931) (781) (846) (928) (922) (3,477) (950) (941) (1,031) (958) (3,880) (780) (795) (832) (799) (3,206) (823) (826) (839) (831) (3,319) (947) (880) (962) (1,063) (3,852) (1,204) (1,080) (1,185) (1,206) (4,675) Amortization of contract costs (5,117) (5,607) (6,110) (6,496) (23,330) (6,805) (6,851) (6,630) (6,343) (26,629) (5,591) (5,161) (4,771) (4,467) (19,990) (4,476) (4,773) (4,962) (4,951) (19,162) (5,090) (5,160) (5,386) (5,653) (21,289) (5,768) (5,957) (6,046) (6,106) (23,877) (5,889) (5,615) (5,549) (5,008) (22,061) Deferred revenue recognized in earnings 12,749 12,478 8,311 8,730 42,268 7,735 5,027 4,421 2,306 19,489 2,328 2,720 3,033 2,301 10,382 3,115 8,426 4,168 5,247 20,956 4,476 4,278 2,289 5,421 16,464 2,859 2,747 4,101 5,294 15,001 3,746 4,039 6,811 9,387 23,983 Indemnification (income) expense, net 101 106 190 (194) 203 (191) (7) (278) 16 (460) (869) - - - (869) - - - - - - - - - - - - - - - 137 (233) 825 325 1,054 Restatement and other charges 421 24 - - 445 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Cash restructuring charges - - - - - 1,667 2,307 1,402 1,414 6,790 897 743 313 950 2,903 - - - - - 120 842 381 211 1,554 - - - - - 665 144 437 359 1,605 Transaction-related costs 180 2,687 4,905 441 8,213 - - - - - - - - - - - - - - - - - - - - - 1,782 9,220 2,247 13,249 3,935 6,127 1,767 876 12,705 Time-based cash or equity settled units settled as equity - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (1,756) - - - (1,756) Changes in assets and liabilities (19,788) (1,960) (2,625) 14,006 (10,367) (18,683) 13,283 (16,797) 3,099 (19,098) (10,889) 13,419 (25,953) 32,958 9,535 (18,185) 41,019 (20,537) 20,765 24,503 (19,140) 54,919 (27,843) 20,068 28,004 (32,314) 33,345 16,282 8,450 25,763 37,676 35,074 9,437 (23,279) 58,908 Maintenance capital expenditures (14,524) (17,174) (14,145) (12,748) (58,592) (15,157) (8,965) (3,817) (4,019) (31,958) (8,362) (13,015) (14,086) (11,883) (47,346) (13,546) (21,833) (24,084) (24,695) (84,158) (22,562) (27,347) (24,103) (18,156) (92,168) (19,525) (25,415) (21,190) (21,623) (87,753) (22,753) (32,413) (29,629) (25,906) (110,701) Other capital expenditures (7,124) (3,456) (5,566) (10,005) (26,151) (8,002) (9,086) (7,363) (4,763) (29,214) (2,343) (5,814) (3,430) (1,789) (13,376) (1,983) (1,523) (2,091) (3,849) (9,446) (2,578) (5,129) (5,264) (3,193) (16,164) (2,920) (3,445) (6,945) (7,023) (20,333) (6,019) (11,707) (13,117) (13,189) (44,032) Proceeds from (payments for) settlement of interest rate swaps that include financing elements 393 407 323 57 1,180 (88) (699) (1,069) (1,060) (2,916) (1,075) (1,094) (1,114) (1,107) (4,390) (1,334) - - - (1,334) - - - - - - - - - - - - - - - Cash available for dividend (1) $48,412 $55,354 $68,306 $64,213 236,284$ $62,114 $58,036 $77,246 $56,311 $253,707 $61,719 $42,446 $50,128 $45,545 $199,838 $41,147 $52,068 $41,354 $34,898 $170,908 $46,247 $52,227 $63,021 $71,484 $232,979 $82,026 $71,593 $92,887 $118,089 $364,595 $132,247 $125,055 $135,737 $188,866 $581,905
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CONTENT 50 Archrock Addendum I-G Reconciliation of Net Income to Adjusted EBITDA and Cash Available for Dividend Guidance (1) Full year 2026 guidance provided on February 24, 2026. (2) 2026 annual guidance for net income does not include the impact of long-lived and other asset impairment costs because due to its nature, it cannot be accurately forecasted. Long-lived and other asset impairment does not impact adjusted EBITDA or cash available for dividend, however it is a reconciling item between these measures and net income. Long-lived and other asset impairment for the years 2025 and 2024 was $18.3 million and $10.7million, respectively. (3) Reflects an estimate of expenses to be incurred related to the TOPS and NGCS acquisitions. (4) Management believes adjusted EBITDA provides useful information to investors because this non-GAAP measure, when viewed with our GAAP results and accompanying reconciliations, provides a more complete understanding of our performance than GAAP results alone. Management uses this non-GAAP measure as a supplemental measure to review current period operating performance, comparability measure and performance measure for period-to-period comparisons. (5) See Addendum I-A for information on Adjusted EBITDA and cash available for dividend. (6) Management uses cash available for dividend as a supplemental performance measure to compute the coverage ratio of estimated cash flows to planned dividends. A forward-looking estimate of net cash provided by operating activities is not provided because certain items necessary to estimate cash provided by operating activities, including changes in assets and liabilities, are not estimable at this time without unreasonable efforts. Changes in assets and liabilities were $(58.7) million and $(25.8) million for the years 2025 and 2024, respectively. $ in thousands Net income (2) $306,000 $356,000 Depreciation and amortization 281,000 281,000 Interest expense 145,000 145,000 Stock-based compensation expense 15,500 15,500 Provision for income taxes 113,000 113,000 Restructuring charges 500 500 Amortization of capitalized implementation costs 4,000 4,000 Adjusted EBITDA (3) (4) (5) $865,000 $915,000 Less: Maintenance capital expenditures (125,000) (135,000) Less: Other capital expenditures (25,000) (35,000) Less: Cash tax expense (3,000) (3,000) Less: Cash interest expense (140,000) (140,000) Cash available for dividend (5) (6) $572,000 $602,000 Full-Year 2026 Guidance (1) Low High
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0,169,224 0,0,0 151,153,155 0,73,118 0,130,186 45,204,211 ARCHROCK, INC. (NYSE:AROC) AROC CLOSE CONTACT US Investor Relations Megan Repine, VP of Investor Relations (281) 836-8360 investor.relations@archrock.com www.archrock.com/aroc Corporate Headquarters 9807 Katy Freeway Suite 100 Houston, TX 77024