Western Midstream Partners LP

New Unit Repurchase Program

In February 2025, the Board authorized a buyback program of up to $250.0 million of our common units through December 31, 2026 (the “2025 Purchase Program”). The common units may be purchased from time to time in the open market at prevailing market prices or in privately negotiated transactions. The timing and amount of purchases under the program will be determined based on ongoing assessments of capital needs, our financial performance, the market price of our common units, and other factors, including organic growth and acquisition opportunities and general market conditions. The program does not obligate us to acquire any particular amount of common units and the program may be suspended or discontinued at our discretion without prior notice.

Extension of DJ Basin Gas Gathering Agreement

On February 26, 2025, WES DJ Gathering LLC (“WDJG”) and KMOG entered into an amendment (“DJ GPA Amendment”) to their Base Contract for Gas Processing (“DJ GPA”), under which WDJG processes gas for KMOG in the DJ Basin. In addition to modifying specific terms of the DJ GPA, the execution of the DJ GPA Amendment had the effect of extending the primary term of the DJ Basin Gas Gathering Agreement through June 30, 2035.

Amendments to Executive Severance Plan

On February 20, 2025, the Western Midstream Partners, LP Executive Severance Plan was amended (as amended, the “Amended and Restated Executive Severance Plan”) to, among other things, modify the definition of “Cause” for purposes of determining eligibility for separation benefits, clarify the timing of payment of certain separation benefits, and provide that certain newly hired or promoted participants will not be eligible for separation benefits until 180 days from their date of hiring or promotion. The foregoing description of the Amended and Restated Executive Severance Plan is qualified in its entirety by the text of such plan, a copy of which will be filed as an exhibit to WES’s Quarterly Report on Form 10-Q for the quarterly period ending March 31, 2025.

Insider Trading Arrangements

Rule 10b5-1 under the Exchange Act provides an affirmative defense that enables prearranged transactions in securities in a manner that avoids concerns about initiating transactions at a future date while possibly in possession of material nonpublic information. Our Insider Trading Policy permits our directors and executive officers to enter into trading plans designed to comply with Rule 10b5-1. During the three months ended December 31, 2024, none of our executive officers or directors adopted or terminated a Rule 10b5-1 trading arrangement (as defined in Item 408(a)(1)(i) of Regulation S-K) or adopted or terminated a non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K).