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Earnings Presentation Second Quarter 2026
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Forward-Looking Statements and Disclaimer Forward Looking Statements This presentation contains forward-looking statements related to the operations of the Partnership that are based on management’ s current expectations, estimates, and projections about its operations. You can identify many of these forward-looking statements by words such as “believe,” “expect,” “intend,” “project,” “anticipate,” “estimate,” “continue,” “if,” “outlook,” “will,” “could,” “should,” or similar words or the negatives thereof. You should consider these statements carefully because they discuss our plans, targets, strategies, prospects, and expectations concerning our business, operating results, financial condition, our ability to make distributions, and other similar matters. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and other factors, some of which are beyond our control and are difficult to predict. These include risks relating to changes in general economic conditions, including inflation, supply chain disruptions, trade tensions, or tariff impacts; changes in economic conditions of the crude oil and natural gas industries, including any impact from the ongoing military conflict involving Russia and Ukraine or the conflict in the Middl e East; changes in the long-term supply of and demand for crude oil and natural gas; our ability to realize the anticipated benefits of our acquisition of J-W Power Company and to integrate the acquired assets with our existing fleet and operations; competitive conditions in our industry, including competition for employees in a tight labor market; changes in the availability and cost of capital, including changes to interest rates; renegotiation of material terms of customer contracts; actions taken by our customers, competitors, and third-party operators; and the factors set forth under the heading “Risk Factors” or included elsewhere that are incorporated by reference herein from our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission as updated by Exhibit 99.1 to our Current Report on Form 8-K12B filed on July 6, 2026; and if applicable, our other Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. As a result of such risks and others, our business, financial condition and results of operations could differ materially from what is expressed or forecasted in such forward-looking statements. Before you invest in our securities, you should be aware of such risks, and you should not place undue reliance on these forward–looking statements. Any forward- looking statement made by us in this presentation speaks only as of the date of this presentation. Unpredictable or unknown factors not discussed herein also could have material adverse effects on forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Industry & Market Data The market data and certain other statistical information used throughout this presentation are based on independent industry publications, government publications or other published independent sources. Although we believe these third-party sources are reliable as of their respective dates, we have not independently verified the accuracy or completeness of this information. Some data is also based on our good faith estimates and our management’s understanding of industry conditions. The industry in which we operate is subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause results to differ materially from those expressed in these publications. Intellectual Property This presentation contains trademarks, trade names and service marks of other companies, which are the property of their respective owners. We do not intend our use or display of other parties’ trademarks, trade names or service marks to imply, and such use or display should not be con strued to imply, a relationship with, or endorsement or sponsorship of us by, these other parties. J-W Power Acquisition The results of operations of J-W Power Company, and its parent company, J-W Energy Company, subsequent to January 12, 2026 are reflected in our financial results of operations for the six months ended June 30, 2026. 2
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Second-Quarter 2026 Highlights 3 Record average revenue- generating HP 4.45 MM 25% Y-o-Y Record $ per revenue- generating HP $22.84 7% Y-o-Y Record Revenues $342.1 MM 37% Y-o-Y Record Adjusted EBITDA1 $193.2 MM 29% Y-o-Y 1 Adjusted EBITDA and DCF Coverage Ratio are Non-GAAP measures. See appendix for reconciliations to the comparable GAAP measures, and information on the calculation of these non-GAAP measures. Non-GAAP measures may not be comparable to similarly titled measures of other companies. 2 As of June 30, 2026. Large horsepower is defined as compression units 1,000 horsepower or greater. • Active HP grew to 4.45MM • Continued strong business execution with total utilization at 92% and large horsepower at 94%2 • Pricing continued at record levels • Distribution coverage of 1.65x1 • Leverage ratio at 3.72x Operational and Financial Results Highlights
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Macro Outlook 4 Compression Demand Drivers Rockies: Flat to -2 BCF Permian: +5 to +8 BCF Gulf Coast & Mid-Con: +9 to +11 BCF Northeast: +5 to +7 BCF Forecasted Natural Gas Production Growth Bcf/d by Region by 20301 Rising Natural Gas Production • 20+ Bcf/d growth expected by 2030, driven by LNG exports and power demand • Permian, Haynesville, Marcellus remain key growth basins High Compression Intensity • Shale development increasingly relies on artificial lift and wellhead compression • Trend toward deeper, higher-GOR wells further increases compression intensity Growing Horsepower Needs • An estimated 10MM+ incremental horsepower could be needed2 • USA Compression is well positioned to capitalize on growth across basins 1 Source: S&P Global Energy, “North American Dry Natural Gas Short-Term Outlook: Production and break-even prices”; USAC analysis 2 USAC management estimate
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Operational and Financial Performance 5 Average Revenue-generating HP (000s) Adjusted EBITDA ($MM)1 DCF ($MM)1Total Capex ($MM) 1 Adjusted EBITDA and DCF are Non-GAAP measures. See appendix for reconciliations to the comparable GAAP measures, and information on the calculation of these non-GAAP measures. Non-GAAP measures may not be comparable to similarly titled measures of other companies. 2 Represents 2026 Adjusted EBITDA, 2026 Capex, and 2026 DCF guidance. 3 Expansion capital expenditures for full year 2026 guidance includes approximately $38MM of other business support capital that includes vehicles, tools, and IT infrastructure. $770- $800 $480 - $510 3,329 3,528 3,559 4,443 2023 2024 2025 2026 YTD $512 $584 $614 $382 2023 2024 2025 2026 YTD $770- $800 2026 Guidance $281 $355 $386 $256 2023 2024 2025 2026 YTD $480- $510 2026 Guidance $25 $32 $39 $26 $275 $243 $118 $73 2023 2024 2025 2026 YTD $230- $250 $60-$70 2026 Guidance Expansion CAPEX Maintenance CAPEX 2 2, 3 2
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6 3 Year Total Equity Return1 Distribution Yield1 • History of strong total equity returns with low volatility • Compelling Risk-Adjusted Performance: Competitive total returns achieved with significantly lower volatility vs broader market and peers • Contract-Backed Cash Flows: Long-term, fee-based contracts help support visible earnings and stable return generation across market cycles Predictable cash flows support a long track record of sustainable income for unitholders • Durable Distributions: Quarterly distributions maintained or grown for 50+ consecutive quarters • Strong Distribution Coverage: 1.65x1 coverage supports distribution sustainability Equity Returns and Distribution Yield 8% 8% 7% 5% 2% USAC Alerian MLP ETF (AMLP) S&P U.S. HY Corp Bond Index S&P U.S. IG Corp Bond Index S&P 500 Value 73% 68% 50% USAC Alerian MLP ETF (AMLP) S&P 500 Value 1 As of June 30, 2026.
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Appendix 7
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Leverage & Capital Structure $1,211 $539 $1,000 $1,750 $750 2026 2027 2028 2029 2030 2031 2032 2033 ABL Drawn ABL Undrawn 4.10x 4.02x 4.00x 3.72x 3.75x 2023 2024 2025 Q2 2026 Near-term Target Maturity Profile in millions3 Leverage Ratio Since 20231 Improved Debt to EBITDA • Leverage ratio has steadily improved from 4.1x in 2023 to 3.72x in 2026 • Favorable impact from the J-W acquisition supports near-term target of 3.75x Enhanced Credit Profile • Maintained or upgraded debt ratings (Ba3 / B+ / BB) since first notes issuance in 2018 • Refinanced ABL and 2027 senior notes in Q3 2025, reducing weighted average borrowing cost and improving strategic flexibility Near-term Optionality • $500MM+ remaining ABL capacity • Energy high yield market remains resilient despite recent increase in longer-term yields 1 Represents Total Leverage Ratio, which is defined as total debt divided by annualized quarterly EBITDA for the applicable quarter, each as calculated and defined in accordance with USAC’s Credit Agreement 2 Does not represent guidance; target is subject to change 3 ABL Drawn balance as of June 30, 2026 2 8
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2026 $ in thousands Q2 Q1 Q4 Q3 Q2 Q1 Net income 45,652$ 38,342$ 27,761$ 34,487$ 28,559$ 20,512$ Non-cash interest expense 1,843 1,829 1,949 2,133 2,231 2,241 Depreciation and amortization 89,071 87,146 72,360 71,222 70,841 70,393 Non-cash income tax expense (benefit) 1,939 2,711 436 (16) (39) 85 Unit-based compensation expense (benefit) 1,608 2,405 1,527 1,167 (1,736) 3,384 Transaction expenses 1,032 3,777 1,914 — — — Severance charges and other employee costs 1,695 4,085 169 2,463 472 1,351 Other — — — 1,876 — 1,000 Loss (gain) on disposition of assets (994) (545) 1,625 831 39 1,325 Loss on extinguishment of debt — 1 3,006 — — — Impairment of assets — 4 302 622 3,242 3,645 Distributions on Preferred Units — — — (1,950) (1,950) (4,388) Amortization of capitalized SaaS implementation costs 430 284 — — — — Maintenance capital expenditures (16,931) (9,246) (7,838) (8,990) (11,733) (10,853) Distributable Cash Flow 125,345$ 130,793$ 103,211$ 103,845$ 89,926$ 88,695$ Maintenance capital expenditures 16,931 9,246 7,838 8,990 11,733 10,853 Transaction expenses (1,032) (3,777) (1,914) — — — Severance charges and other employee costs (1,695) (4,085) (169) (2,463) (472) (1,351) Distributions on Preferred Units — — — 1,950 1,950 4,388 Other — 398 — (1,876) — (1,000) Changes in operating assets and liabilities 6,135 (46,472) 30,522 (34,567) 21,107 (46,934) Net cash provided by operating activities 145,684$ 86,103$ 139,488$ 75,879$ 124,244$ 54,651$ Distributable Cash Flow 125,345$ 130,793$ 103,211$ 103,845$ 89,926$ 88,695$ Distributions for Distributable Cash Flow Coverage Ratio 76,095$ 76,110$ 76,109$ 64,410$ 64,409$ 61,731$ Distributable Cash Flow Coverage Ratio 1.65x 1.72x 1.36x 1.61x 1.40x 1.44x 2025 $ in thousands Q2 Q1 Q4 Q3 Q2 Q1 Total revenues 342,146$ 331,275$ 252,485$ 250,255$ 250,125$ 245,234$ Cost of operations, exclusive of depreciation and amortization (124,790) (117,902) (83,737) (76,950) (86,499) (81,618) Depreciation and amortization (89,071) (87,146) (72,360) (71,222) (70,841) (70,393) Gross margin 128,285$ 126,227$ 96,388$ 102,083$ 92,785$ 93,223$ Depreciation and amortization 89,071 87,146 72,360 71,222 70,841 70,393 Adjusted gross margin 217,356$ 213,373$ 168,748$ 173,305$ 163,626$ 163,616$ Net income 45,652$ 38,342$ 27,761$ 34,487$ 28,559$ 20,512$ Interest expense, net 49,258 48,966 45,299 47,066 47,674 47,369 Depreciation and amortization 89,071 87,146 72,360 71,222 70,841 70,393 Income tax expense 5,480 4,122 536 2,407 391 1,535 EBITDA 189,461$ 178,576$ 145,956$ 155,182$ 147,465$ 139,809$ Unit-based compensation expense (benefit) 1,608 2,405 1,527 1,167 (1,736) 3,384 Transaction expenses 1,032 3,777 1,914 — — — Severance charges and other employee costs 1,695 4,085 169 2,463 472 1,351 Loss (gain) on disposition of assets (994) (545) 1,625 831 39 1,325 Loss on extinguishment of debt — 1 3,006 — — — Amortization of capitalized SaaS implementation costs 430 284 — — — — Impairment of assets — 4 302 622 3,242 3,645 Adjusted EBITDA 193,232$ 188,587$ 154,499$ 160,265$ 149,482$ 149,514$ Interest expense, net (49,258) (48,966) (45,299) (47,066) (47,674) (47,369) Non-cash interest expense 1,843 1,829 1,949 2,133 2,231 2,241 Income tax expense (5,480) (4,122) (536) (2,407) (391) (1,535) Non-cash income tax expense 1,939 2,711 — — — — Transaction expenses (1,032) (3,777) (1,914) — — — Severance charges and other employee costs (1,695) (4,085) (169) (2,463) (472) (1,351) Other — 398 436 (16) (39) 85 Changes in operating assets and liabilities 6,135 (46,472) 30,522 (34,567) 21,107 (46,934) Net cash provided by operating activities 145,684$ 86,103$ 139,488$ 75,879$ 124,244$ 54,651$ 2026 2025 Non-GAAP Reconciliations 9 Adjusted gross margin and Adjusted EBITDA Distributable Cash Flow and Distributable Cash Flow Coverage 1 Includes ~18.2MM common units issued in January 2026 as part of J-W acquisition; coverage ratio of 1.55x when excluding the issuance 1
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Non-GAAP Reconciliations 10 Adjusted EBITDA Distributable Cash Flow and Distributable Cash Flow Coverage Years Ended December 31, 2025 2024 2023 Net income (loss) 111,319$ 99,575$ 68,268$ Interest expense, net 187,408 193,471 169,924 Depreciation and amortization 284,816 264,756 246,096 Income tax expense 4,869 2,231 1,365 EBITDA 588,412$ 560,033$ 485,653$ Unit-based compensation expense 4,342 16,552 22,169 Transaction expenses 1,914 133 46 Severance charges and other employee costs 4,455 2,430 841 Loss (gain) on disposition of assets 3,820 4,939 (1,667) Loss on extinguishment of debt 3,006 4,966 — Gain on derivative instrument — (5,684) (7,449) Impairment of assets 7,811 913 12,346 Adjusted EBITDA 613,760$ 584,282$ 511,939$ Interest expense, net (187,408) (193,471) (169,924) Non-cash interest expense 8,554 8,748 7,279 Income tax expense (4,869) (2,231) (1,365) Transaction expenses (1,914) (133) (46) Severance charges and other employee costs (4,455) (2,430) (841) Cash received on derivative instrument — 6,888 6,245 Other 466 1,204 1,448 Changes in operating assets and liabilities (29,872) (61,523) (82,850) Net cash provided by operating activities 394,262$ 341,334$ 271,885$ $ in thousands 2025 2024 2023 Net income (loss) 111,319$ 99,575$ 68,268$ Non-cash interest expense 8,554 8,748 7,279 Depreciation and amortization 284,816 264,756 246,096 Non-cash income tax expense (benefit) 466 574 (52) Unit-based compensation expense 4,342 16,552 22,169 Transaction expenses 1,914 133 46 Severance charges and other employee costs 4,455 2,430 841 Other 2,876 — — Loss (gain) on disposition of assets 3,820 4,939 (1,667) Loss on extinguishment of debt 3,006 4,966 — Change in fair value of derivative instrument — 1,204 (1,204) Impairment of assets 7,811 913 12,346 Distributions on Preferred Units (8,288) (17,550) (47,775) Maintenance capital expenditures (39,414) (31,923) (25,234) Distributable Cash Flow 385,677$ 355,317$ 281,113$ Maintenance capital expenditures 39,414 31,923 25,234 Transaction expenses (1,914) (133) (46) Severance charges and other employee costs (4,455) (2,430) (841) Distributions on Preferred Units 8,288 17,550 47,775 Other (2,876) 630 1,500 Changes in operating assets and liabilities (29,872) (61,523) (82,850) Net cash provided by operating activities 394,262$ 341,334$ 271,885$ Distributable Cash Flow 385,677$ 355,317$ 281,113$ Distributions for Distributable Cash Flow Coverage Ratio 266,659$ 245,990$ 208,856$ Distributable Cash Flow Coverage Ratio 1.45x 1.44x 1.35x Years Ended December 31,
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Basis of Presentation; Explanation of Non-GAAP Financial Measures This presentation includes the non-U.S. generally accepted accounting principles (“non-GAAP”) financial measures, which may include Adjusted gross margin, Adjusted EBITDA, Distributable Cash Flow, and Distributable Cash Flow Coverage Ratio. Adjusted gross margin, a non-GAAP measure, is defined as revenue less cost of operations, exclusive of depreciation and amortiza tion expense. Management believes that Adjusted gross margin is useful to investors as a supplemental measure of the Partnership’s operating profitability. Adjusted gross margin primarily is impacted by the pricing trends for service operations and cost of operations, including labor rates for service technicians, volume and per-unit costs for lubricant oils, quantity and pricing of routine preventative maintenance on compression units, and property tax rates on compression units. EBITDA, a non-GAAP measure, is defined as net income (loss) before net interest expense, depreciation and amortization expense, and income tax expense (benefit). Adjusted EBITDA, also a non-GAAP measure, is defined as EBITDA plus impairment of assets, impairment of goodwill, interest income on capital leases, unit-based compensation expense (benefit), severance charges and other employee costs, certain transaction expenses, loss (gain) on disposition of assets, loss on extinguishment of debt, loss (gain) on derivative instrument, amortization of capitalized SaaS implementation costs, and other. The Partnership’s management views Adjusted EBITDA as one of its primary tools, to assess: (i) the financial performance of the Partnership’s assets without regard to the impact of financing methods, capital structure, or the historical cost basis of the Partnership’s assets; (ii) the viability of capital expenditure projects and the overall rates of return on alternative investment opportunities; (iii) the ability of the Partnership’s assets to generate cash sufficient to make debt payments and pay distributions; and (iv) the Partnership’s operating performance as compared to those of other companies in its industry without regard to the impact of financing methods and capital structure. The Partnership believes that Adjusted EBITDA provides useful information to investors because, when viewed in conjunction with GAAP results and the accompanying reconciliations, it may provide a more complete assessment of the Partnership’s performance compared to considering solely GAAP results. Distributable Cash Flow, a non-GAAP measure, is defined as net income (loss) plus non-cash interest expense, non-cash income tax expense (benefit), depreciation and amortization expense, unit-based compensation expense (benefit), impairment of assets, impairment of goodwill, certain transaction expenses, severance charges and other employee costs, loss (gain) on disposition of assets, loss on extinguishment of debt, change in fair value of derivative instrument, proceeds from insurance recovery, amortization of capitalized SaaS implementation costs, and other, less distributions on the Partnership’s Series A Preferred Units (“Preferred Units”), and maintenance capital expenditures. The Partnership’s management believes Distributable Cash Flow is an important measure of operating performance because it allows management, investors, and others to compare the cash flows that the Partnership generates (after distributions on the Partnership’s Preferred Units but prior to any retained cash reserves established by the Partnership’s general partner and the effect of the Distribution Reinvestment Plan (“DRIP”)) to the cash distributions th at the Partnership expects to pay its common unitholders. See previous slides for, as applicable, gross margin reconciled to Adjusted gross margin, Adjusted EBITDA reconciled to net income (loss) and net cash provided by operating activities, and net income (loss) reconciled to Distributable Cash Flow. This presentation also contains a forward-looking estimate of Adjusted EBITDA and Distributable Cash Flow projected to be generated by the Partnership for its 2026 fiscal year. The Partnership is unable to reconcile projected Adjusted EBITDA and Distributable Cash Flow to projected net income (loss) and projected net cash provided by operating activities, the most comparable financial measures calculated in accordance with GAAP because components of the required calculations cannot be reasonably estimated, such as changes to current assets and liabilities, unknown future events, and estimating certain future GAAP measures. The inability to project certain components of the calculation would significantly affect the accuracy of the reconciliations. Adjusted gross margin, Adjusted EBITDA, and Distributable Cash Flow should not be considered an alternative to, or more meaningful than, gross margin, net income (loss), operating income, cash flows from operating activities, or any other measure presented in accordance with GAAP. Moreover, Adjusted gross margin, Adjusted EBITDA, and Distributable Cash Flow as presented may not be comparable to similarly titled measures of other companies. The Partnership believes that external users of its financial statements benefit from having access to the same financial mea sures that management uses to evaluate the results of the Partnership’s business. Distributable Cash Flow Coverage Ratio, a non-GAAP measure, is defined as Distributable Cash Flow divided by distributions declared to common unitholders in respect of such period. Management believes Distributable Cash Flow Coverage Ratio is an important measure of operating performance because it permits management, investors, and others to assess the Partnership’s ability to pay distributions to common unitholders out of the cash flows that the Partnership generates. The Partnership’s Distributable Cash Flow Coverage R atio as presented may not be comparable to similarly titled measures of other companies. 11