USA Compression Partners, LP

Previous wording

Known material factors that could cause our actual results to differ from those represented within these forward-looking statements are described in Part I, Item 1A “Risk Factors” of our annual report on Form 10-K for the year ended December 31, 2025, filed on February 17, 2026 (our “2025 Annual Report”), as well as our subsequent filings with the SEC. Important factors that could cause our actual results to differ materially from the expectations reflected in these forward-looking statements include, among other things:

Current wording

Known material factors that could cause our actual results to differ from those represented within these forward-looking statements are described in Part I, Item 1A “Risk Factors” of our annual report on Form 10-K for the year ended December 31, 2025, filed on February 17, 2026 (our “2025 Annual Report”), as updated by Exhibit 99.1 to our current report on Form 8-K12B filed on July 6, 2026, as well as our subsequent filings with the SEC. Important factors that could cause our actual results to differ materially from the expectations reflected in these forward-looking statements include, among other things:

Previous wording

USA Compression Partners, LP (the “Partnership”) is a Delaware limited partnership that operates as one of the nation’s largest independent providers of natural gas compression services in terms of total compression fleet horsepower. We are managed by our general partner, USA Compression GP, LLC (the “General Partner”), which is wholly owned by Energy

Current wording

USA Compression Partners, LP (the “Partnership”) operates as one of the nation’s largest independent providers of natural gas compression services in terms of total compression fleet horsepower. The Partnership converted from a Delaware limited partnership to a Texas limited partnership on July 6, 2026. We are managed by our general partner, USA Compression GP,

Previous wording

Transfer. All references in this section to the Partnership, as well as the terms “our,” “we,” “us,” and “its” refer to USA Compression Partners, LP, together with its consolidated subsidiaries, unless the context otherwise requires or where otherwise indicated.

Current wording

LLC (the “General Partner”), which is wholly owned by Energy Transfer. All references in this section to the Partnership, as well as the terms “our,” “we,” “us,” and “its” refer to USA Compression Partners, LP, together with its consolidated subsidiaries, unless the context otherwise requires or where otherwise indicated.

Previous wording

On January 12, 2026 (the “J-W Acquisition Date”), the Partnership and USA Compression Partners, LLC, a wholly owned subsidiary of the Partnership, completed the acquisition of J-W Energy Company (“J-W Energy”) and its subsidiary, J-W Power Company (“J-W Power”), pursuant to which USA Compression Partners, LLC purchased all of the issued and outstanding capital stock of J-W Energy from Westerman, Ltd. (the “J-W Power Acquisition”). The J-W Power Acquisition had an initial purchase price of $860 million, which after accounting for our common unit price and certain purchase price adjustments, resulted in an aggregate payment of approximately $911.6 million, consisting of (i) approximately $455.0 million in cash and (ii) 18,175,323 common units in the Partnership, which had a fair value of approximately $456.6 million on the J-W Acquisition Date, subject to customary post-closing price adjustments. Upon consummation of the J-W Power Acquisition, J-W Power and J-W Energy became consolidated subsidiaries of the Partnership.

Current wording

On January 12, 2026 (the “J-W Acquisition Date”), the Partnership and USA Compression Partners, LLC, a wholly owned subsidiary of the Partnership, completed the acquisition of J-W Energy Company (“J-W Energy”) and its subsidiary, J-W Power Company (“J-W Power”), pursuant to which USA Compression Partners, LLC purchased all of the issued and outstanding capital stock of J-W Energy from Westerman, Ltd. (the “J-W Power Acquisition”). The J-W Power Acquisition had an initial purchase price of $860.0 million, which after accounting for our common unit price and certain purchase price adjustments, resulted in an aggregate payment of approximately $911.6 million, consisting of (i) approximately $455.0 million in cash and (ii) 18,175,323 common units of the Partnership, which had a fair value of approximately $456.6 million on the J-W Acquisition Date, subject to customary post-closing price adjustments. Upon consummation of the J-W Power Acquisition, J-W Power and J-W Energy became consolidated subsidiaries of the Partnership.

Previous wording

The results of operations of J-W Power and J-W Energy subsequent to the J-W Acquisition Date are reflected in our financial results of operations for the three months ended March 31, 2026.

Current wording

The results of operations of J-W Power and J-W Energy subsequent to the J-W Acquisition Date are reflected in our financial results of operations for the three and six months ended June 30, 2026.

Previous wording

(1)Fleet horsepower is horsepower for compression units that have been delivered to us and excludes 14,985 and 13,210 of non-marketable horsepower as of March 31, 2026 and 2025, respectively. As of March 31, 2026, we had 61,350 large horsepower on order for delivery, all of which is expected to be delivered within the next 12 months.

Current wording

(1)Fleet horsepower is horsepower for compression units that have been delivered to us and excludes 14,985 of non-marketable horsepower for each period presented. As of June 30, 2026, we had 97,650 large horsepower on order for delivery, of which 53,650 is expected to be delivered within the next 12 months.

Previous wording

(7)Horsepower utilization is calculated as (i) the sum of (a) revenue-generating horsepower, (b) horsepower in our fleet that is under contract but is not yet generating revenue, and (c) horsepower not yet in our fleet that is under contract but not yet generating revenue and that is expected to be delivered, divided by (ii) total available horsepower less idle horsepower that is under repair. Horsepower utilization based on revenue-generating horsepower and fleet horsepower as of March 31, 2026 and 2025, was 90.0% and 92.2%, respectively.

Current wording

(7)Horsepower utilization is calculated as (i) the sum of (a) revenue-generating horsepower, (b) horsepower in our fleet that is under contract but is not yet generating revenue, and (c) horsepower not yet in our fleet that is under contract but not yet generating revenue and that is expected to be delivered, divided by (ii) total available horsepower less idle horsepower that is under repair. Horsepower utilization based on revenue-generating horsepower and fleet horsepower as of June 30, 2026 and 2025, was 90.0% and 91.7%, respectively.

Previous wording

(8)Calculated as the average utilization for the months in the period based on utilization at the end of each month in the period. Average horsepower utilization based on revenue-generating horsepower and fleet horsepower for the three months ended March 31, 2026 and 2025, was 90.2% and 91.9%, respectively.

Current wording

(8)Calculated as the average utilization for the months in the period based on utilization at the end of each month in the period. Average horsepower utilization based on revenue-generating horsepower and fleet horsepower for the three months ended June 30, 2026 and 2025 was 90.0% and 91.9%, respectively. Average horsepower utilization based on revenue-generating horsepower and fleet horsepower for the six months ended June 30, 2026 and 2025 was 90.1% and 91.9%, respectively.

Previous wording

The 7.9% increase in average revenue per revenue-generating horsepower per month for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily was due to the addition of higher revenue per-revenue generating horsepower acquired in the J-W Power Acquisition, which contributed 4.7% of the increase. An additional 3.2% increase is attributable to higher market-based rates on newly deployed and redeployed compression units, and CPI-based and other market-based price increases on existing customer contracts that occur as market conditions permit.

Current wording

The 7.2% and 7.6% increases in average revenue per revenue-generating horsepower per month for the three and six months ended June 30, 2026, respectively, compared to the three and six months ended June 30, 2025, primarily was due to (i) a 4.8% increase in each period resulting from the addition of higher revenue per-revenue generating horsepower acquired in the J-W Power Acquisition and (ii) increases of 2.4% and 2.8%, respectively, attributable to higher market-based rates on newly deployed and redeployed compression units, and CPI-based and other market-based price increases on existing customer contracts that occur as market conditions permit.

Previous wording

The 52.6% increase in revenue-generating compression units, 24.8% increase in average revenue-generating horsepower, and 24.7% increase in revenue-generating horsepower for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily was due to the acquisition of approximately 2,070 revenue-generating compression units in the J-W Power Acquisition, with an additional increase due to the deployment of new and redeployment of previously idle compression units.

Current wording

The 55.3% increase in revenue-generating compression units and the 25.9% increase in revenue-generating horsepower at June 30, 2026 compared to June 30, 2025 primarily were due to the acquisition of approximately 2,070 revenue-generating compression units in the J-W Power Acquisition, with an additional increase due to the deployment of new and redeployment of previously idle compression units. These same factors were also primarily responsible for the 25.2% and 25.0% increases in average revenue-generating horsepower for the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025.

Previous wording

The 27.7% increase in fleet horsepower and 29.0% increase in total available horsepower for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily was due to the acquisition of approximately 1.0 million total horsepower in the J-W Power Acquisition.

Current wording

The 28.3% increase in fleet horsepower and the 29.3% increase in total available horsepower for the three and six months ended June 30, 2026 compared to the three and six months June 30, 2025, primarily were due to the acquisition of approximately 1.0 million total horsepower in the J-W Power Acquisition.

Previous wording

The 17.5% decrease in average horsepower per revenue-generating compression unit for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily was due to the inclusion of a higher proportion of mid-size horsepower compression units from the J-W Power Acquisition.

Current wording

The 18.7% and 18.1% decreases in average horsepower per revenue-generating compression unit for the three and six months ended June 30, 2026, compared to the three and six months ended June 30, 2025, primarily were due to the inclusion of a higher proportion of mid-size horsepower compression units from the J-W Power Acquisition.

Previous wording

Contract operations revenue. The $68.5 million increase in contract operations revenue for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily was due to a $60.3 million increase due to the J-W Power Acquisition with the remaining increase attributable to (i) an increase in average revenue per revenue-generating horsepower per month, which resulted from higher market-based rates on newly deployed and redeployed compression units and CPI-based and other market-based price increases on existing customer contracts that occur as market conditions permit and (ii) an increase in average revenue-generating horsepower as a result of increased demand for our services, consistent with an overall increase in natural gas produced within the U.S.

Current wording

Contract operations revenue. The $77.6 million increase in contract operations revenue for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily was due to a $69.5 million increase due to the J-W Power Acquisition with the remaining increase attributable to our operations outside of the J-W Power Acquisition, including (i) a 2.4% increase in average revenue per revenue-generating horsepower per month, which resulted from higher market-based rates on newly deployed and redeployed compression units and CPI-based and other market-based price increases on existing customer contracts that occur as market conditions permit and (ii) a 1.1% increase in average revenue-generating horsepower as a result of increased demand for our services, consistent with an overall increase in natural gas produced within the U.S.

Previous wording

Parts and service revenue. The $16.8 million increase in parts and service revenue for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, was due to the additional revenue generated by the J-W Power Acquisition, including $11.7 million attributable to parts and service revenue earned on maintenance work performed on customer-owned equipment and $8.1 million attributable to manufacturing sales.

Current wording

Parts and service revenue. The $15.6 million increase in parts and service revenue for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, was due to the additional revenue generated by the J-W Power Acquisition, including $11.1 million attributable to parts and service revenue earned on maintenance work performed on customer-owned equipment and $6.9 million attributable to manufacturing sales, offset by a decrease of $3.2 million in maintenance work generated by our operations outside of the J-W Power Acquisition, which is performed on units outside the scope of our core maintenance activities and in directly reimbursable freight and crane charges that are the financial responsibility of the customers. Demand for retail parts and services fluctuates from period to period based on varying customer needs.

Previous wording

Related-party revenue. Related-party revenue was earned through related-party transactions that occur in the ordinary course of business with various affiliated entities of Energy Transfer. Related-party revenue for the three months ended March 31, 2026 was consistent with the three months ended March 31, 2025.

Current wording

Related-party revenue. Related-party revenue was earned through related-party transactions that occur in the ordinary course of business with various affiliated entities of Energy Transfer. Related-party revenue for the three months ended June 30, 2026 was generally consistent with the three months ended June 30, 2025.

Previous wording

Cost of operations, exclusive of depreciation and amortization. The $36.3 million increase in cost of operations, exclusive of depreciation and amortization, for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily was due to (i) a $40.1 million increase attributable to the J-W Power Acquisition, partially offset by (ii) a $1.4 million decrease in fluids expense and (iii) a $2.4 million decrease in part consumption.

Current wording

Cost of operations, exclusive of depreciation and amortization. The $38.3 million increase in cost of operations, exclusive of depreciation and amortization, for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily was due to (i) a $39.5 million increase attributable to the J-W Power Acquisition and (ii) a $4.0 million increase in direct labor costs due to increased operating headcount associated with increased average revenue-generating horsepower and higher employee costs, partially offset by (iii) a $2.5 million decrease in fluids expense, (iv) a $1.6 million decrease in part consumption, and (v) a $1.6 million decrease in retail parts and service expense that corresponds to a decrease in retail parts and service revenue attributable to our operations outside of the J-W Power Acquisition.

Previous wording

Depreciation and amortization expense. The $16.8 million increase in depreciation and amortization expense for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily was due to (i) a $13.5 million increase resulting from the J-W Power Acquisition, and (ii) overhauls and major improvements to compression units.

Current wording

Depreciation and amortization expense. The $18.2 million increase in depreciation and amortization expense for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily was due to (i) a $16.0 million increase resulting from the J-W Power Acquisition, and (ii) overhauls and major improvements to compression units.

Previous wording

Selling, general, and administrative expense. The $16.5 million increase in selling, general, and administrative expense for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily was due to (i) a $10.4 million increase related to the J-W Power Acquisition, (ii) a $3.8 million increase in transaction expenses related to the J-W Power Acquisition, and (iii) a $2.1 million increase in outside services and professional fees.

Current wording

Selling, general, and administrative expense. The $16.0 million increase in selling, general, and administrative expense for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily was due to (i) a $8.5 million increase related to the J-W Power Acquisition, (ii) a $3.7 million increase in unit-based compensation, (iii) a $1.9 million increase in outside services and professional fees, (iv) a $0.8 million increase in administrative salaries and benefits, (v) a $0.8 million increase in transaction expenses related to the J-W Power Acquisition, and (vi) a $0.4 million increase in other indirect costs.

Previous wording

Impairment of assets. The $4 thousand and $3.6 million impairment of assets for the three months ended March 31, 2026 and 2025, respectively, primarily resulted from our evaluation of the future deployment of our idle fleet under current market conditions. The primary circumstances supporting this impairment were: (i) unmarketability of certain compression units into the foreseeable future, (ii) excessive maintenance costs associated with certain fleet assets, and (iii) prohibitive retrofitting costs that likely would prevent certain compression units from securing customer acceptance. These compression units were written down to their estimated salvage values, if any.

Current wording

The $3.2 million impairment of assets for the three months ended June 30, 2025 primarily resulted from our evaluation of the future deployment of our idle fleet under current market conditions. The primary circumstances supporting this impairment were: (i) unmarketability of certain compression units into the foreseeable future, (ii) excessive maintenance costs associated with certain fleet assets, and (iii) prohibitive retrofitting costs that likely would prevent certain compression units from securing customer acceptance. These compression units were written down to their estimated salvage values, if any.

Previous wording

Interest expense, net. The $2 million increase in interest expense, net for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily was due to higher aggregate borrowings, offset by lower weighted-average interest rates under the Credit Agreement and our senior notes.

Current wording

Interest expense, net. The $1.6 million increase in interest expense, net for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily was due to higher aggregate borrowings, partially offset by lower weighted-average interest rates under the Credit Agreement and our senior notes.

Previous wording

Income tax expense. The $2.6 million increase in income tax expense for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily was related to additional taxes attributable to the J-W Power Acquisition. For additional information on income tax expense, see Note 7 to our unaudited condensed consolidated financial statements in Part I, Item 1 “Financial Statements” of this report for additional information.

Current wording

Income tax expense. The $5.1 million increase in income tax expense for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily was related to additional taxes attributable to the J-W Power Acquisition. For additional information on income tax expense, see Note 7 to our unaudited condensed consolidated financial statements in Part I, Item 1 “Financial Statements” of this report for additional information.

Previous wording

As a result of our evaluation during the three months ended March 31, 2026 and 2025, we retired one and 17 compression units, respectively, with approximately 335 and 10,200 of aggregate horsepower, respectively, that were previously used to provide compression services in our business.

Current wording

As a result of our evaluations during the six months ended June 30, 2026 and 2025, we retired 1 and 21 compression units, respectively, with approximately 335 and 16,100 aggregate horsepower, respectively, that previously were used to provide compression services in our business.

Previous wording

Gross margin. The $33.0 million increase in gross margin for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, was due to (i) an $86.0 million increase in revenues, partially offset by (ii) a $36.3 million increase in cost of operations, exclusive of depreciation and amortization, and (iii) a $16.8 million increase in depreciation and amortization.

Current wording

Gross margin. The $35.5 million increase in gross margin for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, was due to (i) a $92.0 million increase in revenues, partially offset by (ii) a $38.3 million increase in cost of operations, exclusive of depreciation and amortization, and (iii) an $18.2 million increase in depreciation and amortization.

Previous wording

Adjusted gross margin. The $49.8 million increase in Adjusted gross margin for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, was due to an $86.0 million increase in revenues offset by a $36.3 million increase in cost of operations, exclusive of depreciation and amortization.

Current wording

Adjusted gross margin. The $53.7 million increase in Adjusted gross margin for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, was due to a $92.0 million increase in revenues offset by a $38.3 million increase in cost of operations, exclusive of depreciation and amortization.

Previous wording

Adjusted EBITDA. The $39.1 million increase in Adjusted EBITDA for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily was due to a $49.8 million increase in Adjusted gross margin, offset by a $12.7 million increase in selling, general, and administrative expenses, excluding unit-based compensation expense, transaction expenses, amortization of capitalized SaaS implementation costs, and severance charges and other employee costs.

Current wording

Adjusted EBITDA. The $43.8 million increase in Adjusted EBITDA for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily was due to a $53.7 million increase in Adjusted gross margin, partially offset by a $10.8 million increase in selling, general, and administrative expenses, excluding unit-based compensation expense, transaction expenses, amortization of capitalized SaaS implementation costs, and severance charges and other employee costs.

Previous wording

DCF. The $42.1 million increase in DCF for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily was due to (i) a $39.1 million increase in Adjusted EBITDA, (ii) a $4.4 million decrease in distributions on Preferred Units due to the conversion of the remaining Preferred Units into common units, and (iii) a $1.6 million decrease in maintenance capital expenditures, offset by (iv) a $2.0 million increase in cash interest expense, net.

Current wording

DCF. The $35.4 million increase in DCF for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily was due to (i) a $43.8 million increase in Adjusted EBITDA and (ii) a $2.0 million decrease in distributions on Preferred Units due to the conversion of the remaining Preferred Units into common units, partially offset by (iii) a $5.2 million increase in maintenance capital expenditures, (iv) a $3.1 million increase in cash income tax expense, and (v) a $2.0 million increase in cash interest expense, net.

Previous wording

DCF Coverage Ratio. The increase in DCF Coverage Ratio for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, was due to the increase in DCF for the period offset by increased common unitholder distributions primarily due to (i) the conversion of the remaining Preferred Units into common units and (ii) the issuance of 18,175,323 common units pursuant to the J-W Power Acquisition.

Current wording

DCF Coverage Ratio. The increase in DCF Coverage Ratio for the three and six months ended June 30, 2026, compared to the three and six months ended June 30, 2025, was due to the increase in DCF for the period offset by increased common unitholder distributions primarily due to (i) the conversion of the remaining Preferred Units into common units and (ii) the issuance of common units pursuant to the J-W Power Acquisition.

Previous wording

We classify capital expenditures as maintenance or expansion on an individual-asset basis. Over the long term, we expect that our maintenance capital expenditure requirements will continue to increase as the overall size and age of our fleet increases. Our aggregate maintenance capital expenditures for the three months ended March 31, 2026 and 2025, were $9.2 million and $10.9 million, respectively. We currently plan to spend between $60.0 million and $70.0 million in maintenance capital expenditures for the year 2026, including parts consumed from inventory.

Current wording

We classify capital expenditures as maintenance or expansion on an individual-asset basis. Over the long term, we expect that our maintenance capital expenditure requirements will continue to increase as the overall size and age of our fleet increases. Our aggregate maintenance capital expenditures for the six months ended June 30, 2026 and 2025, were $26.2 million and $22.6 million, respectively. We currently plan to spend between $60.0 million and $70.0 million in maintenance capital expenditures for the year 2026, including parts consumed from inventory.

Previous wording

Without giving effect to any equipment that we may acquire pursuant to any future acquisitions, we currently plan to spend between $230.0 million and $250.0 million in expansion capital expenditures for the year 2026. Our expansion capital expenditures for the three months ended March 31, 2026 and 2025, were $26.4 million and $22.2 million, respectively.

Current wording

Without giving effect to any equipment that we may acquire pursuant to any future acquisitions, we currently plan to spend between $230.0 million and $250.0 million in expansion capital expenditures for the year 2026. Our expansion capital expenditures for the six months ended June 30, 2026 and 2025, were $73.2 million and $40.3 million, respectively.

Previous wording

As of March 31, 2026, we had binding commitments to purchase $76.0 million of additional compression units and $83.9 million of major components for manufacturing compression units, in total $159.9 million, of which $106.9 million is expected to be settled within the next 12 months.

Current wording

As of June 30, 2026, we had binding commitments to purchase $123.3 million of additional compression units and $134.0 million of major components for manufacturing compression units, in total $257.3 million, of which $122.6 million is expected to be settled within the next 12 months.

Previous wording

As of March 31, 2026, other commitments include operating and finance lease payments totaling $27.4 million, of which we expect to make payments of $6.6 million in the next twelve months.

Current wording

As of June 30, 2026, other commitments include operating and finance lease payments totaling $25.8 million, of which we expect to make payments of $6.3 million in the next twelve months.

Previous wording

During the first quarter of 2026, the Partnership reclassified $62.7 million of heavy equipment inventory, such as engines, compressor frames, coolers, and cylinders, from inventory to fixed assets. The intended use of the assets changed from sale to third parties to internal use for fixed assets.

Current wording

During the six months ended June 30, 2026, the Partnership reclassified $62.7 million of heavy equipment inventory, such as engines, compressor frames, coolers, and cylinders, from inventory to fixed assets. The intended use of the assets changed from sale to third parties to internal use for fixed assets.

Previous wording

The following table summarizes our sources and uses of cash for the three months ended March 31, 2026 and 2025 (in thousands):

Current wording

The following table summarizes our sources and uses of cash for the six months ended June 30, 2026 and 2025 (in thousands):

Previous wording

Net cash provided by operating activities. The $31.5 million increase in net cash provided by operating activities for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily was due to (i) a $30.7 million increase in net income excluding non-cash charges and (ii) a $22.8 million decrease in interest payments, partially offset by (iii) a $19.2 million increase in working capital and (iv) a $3.2 million increase in inventory purchases.

Current wording

Net cash provided by operating activities. The $52.9 million increase in net cash provided by operating activities for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, primarily was due to (i) a $66.7 million increase in net income excluding non-cash charges and (ii) a $19.9 million decrease in working capital, partially offset by (iii) a $28.2 million increase in inventory purchases and (iv) a $6.2 million increase in interest payments.

Previous wording

Net cash used in investing activities. The $449.9 million increase in net cash used in investing activities for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, was primarily due to (i) $444.4 million in cash paid, net of cash acquired, in connection with the J-W Power Acquisition and (ii) a $5.9 million increase in capital expenditures for purchases of new compression units, overhauls and major improvements, and purchases of other equipment.

Current wording

Net cash used in investing activities. The $462.5 million increase in net cash used in investing activities for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, was primarily due to (i) $444.4 million in cash paid, net of cash acquired, in connection with the J-W Power Acquisition and (ii) a $20.1 million increase in capital expenditures for purchases of new compression units, overhauls and major improvements, and purchases of other equipment, partially offset by (iii) a $1.5 million increase in insurance recovery proceeds.

Previous wording

Net cash provided by (used in) financing activities. The $424.4 million increase in net cash provided by financing activities for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily was due to (i) a $422.7 million increase in net borrowings under the Credit Agreement, which was primarily used for the J-W Power Acquisition, (ii) a $4.4 million decrease in Preferred Unit distributions, and (iii) a $2.2 million decrease in cash paid related to the net settlement of unit-based awards, partially offset by (iv) a $4.5 million increase in common unit distributions, and (v) a $0.2 million increase in deferred financing costs.

Current wording

Net cash provided by (used in) financing activities. The $410.5 million increase in net cash provided by financing activities for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, primarily was due to (i) a $417.6 million increase in net borrowings under the Credit Agreement, which was primarily used for the J-W Power

Previous wording

As of March 31, 2026, we had outstanding borrowings under the Credit Agreement of $1.25 billion and, after accounting for outstanding letters of credit in the amount of $2.0 million, $497.8 million of remaining unused availability, all of which was available to be drawn, inclusive of restrictions related to compliance with applicable financial covenants. As of March 31, 2026, we were in compliance with all of our covenants under the Credit Agreement.

Current wording

As of June 30, 2026, we had outstanding borrowings under the Credit Agreement of $1.21 billion and, after accounting for outstanding letters of credit in the amount of $2.0 million, $536.9 million of remaining unused availability, all of which was available to be drawn, inclusive of restrictions related to compliance with applicable financial covenants. As of June 30, 2026, we were in compliance with all of our covenants under the Credit Agreement.

Previous wording

As of May 1, 2026, we had outstanding borrowings under the Credit Agreement of $1.22 billion and outstanding letters of credit of $2.0 million.

Current wording

As of July 31, 2026, we had outstanding borrowings under the Credit Agreement of $1.19 billion and outstanding letters of credit of $2.0 million.

Previous wording

During the three months ended March 31, 2026, distributions of $48 thousand were reinvested under the DRIP resulting in the issuance of 1,900 common units. Such distributions are treated as non-cash transactions in the accompanying unaudited condensed consolidated statements of cash flows included under Part I, Item 1 “Financial Statements” of this report.

Current wording

During the six months ended June 30, 2026, distributions of $97 thousand were reinvested under the DRIP resulting in the issuance of 3,694 common units. Such distributions are treated as non-cash transactions in the accompanying unaudited condensed consolidated statements of cash flows included under Part I, Item 1 “Financial Statements” of this report.

Previous wording

(1)For the three months ended March 31, 2026, unit-based compensation expense included $0.1 million of cash payments related to quarterly payments of DERs on outstanding unit awards. For the three months ended March 31, 2025, unit-based compensation expense included $0.7 million of cash payments related to quarterly payments of DERs on outstanding unit awards.

Current wording

(1)For the three and six months ended June 30, 2026, unit-based compensation expense included $0.1 million and $0.3 million, respectively, of cash payments related to quarterly payments of DERs on outstanding unit awards. For the three and six months ended June 30, 2025, unit-based compensation expense included $0.5 million and $1.2 million, respectively, of cash payments related to quarterly payments of DERs on outstanding unit awards. The three and six months ended June 30, 2025 also reflected a $2.1 million reversal of unit-based compensation expense resulting from the forfeiture of certain awards by certain former senior management.