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 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:

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, Part II, Item 1A “Risk Factors” of this 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:

Previous 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,

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, 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 $860.0 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.

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, with the aggregate payment 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 J-W Power Acquisition added approximately 0.8 million active horsepower and 1.0 million total horsepower to our fleet across key regions including the Northeast, Mid-Con, Rockies, Gulf Coast, Bakken and Permian Basin. J-W Power also owns and operates specialized manufacturing facilities that support its internal compression requirements and those of third-party customers.

Current wording

The J-W Power Acquisition added approximately 0.8 million active horsepower and 1.0 million total horsepower to our fleet across key regions including the Northeast, Mid-Con, Rockies, Gulf Coast, Bakken and Permian Basin. Through the J-W Power Acquisition, we also acquired specialized manufacturing facilities that support certain of our internal compression requirements and those of third-party customers.

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 and six months ended June 30, 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 nine months ended September 30, 2026.

Previous 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.

Current wording

(1)Fleet horsepower is horsepower for compression units that have been delivered to us and excludes 8,280 and 14,985 of non-marketable horsepower as of September 30, 2026 and 2025, respectively. As of September 30, 2026, we had 155,000 large horsepower on order for delivery, of which 34,000 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 June 30, 2026 and 2025, was 90.0% and 91.7%, 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 September 30, 2026 and 2025, was 89.7% and 92.0%, 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 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.

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 September 30, 2026 and 2025 was 89.8% and 91.8%, respectively. Average horsepower utilization based on revenue-generating horsepower and fleet horsepower for the nine months ended September 30, 2026 and 2025 was 90.0% and 91.9%, respectively.

Previous 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.

Current wording

The 7.8% and 7.6% increases in average revenue per revenue-generating horsepower per month for the three and nine months ended September 30, 2026, respectively, compared to the three and nine months ended September 30, 2025, primarily were due to (i) a 4.7% 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 3.1% and 2.9%, 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 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.

Current wording

The 56.9% increase in revenue-generating compression units and the 25.8% increase in revenue-generating horsepower at September 30, 2026 compared to September 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 26.1% and 25.4% increases in average revenue-generating horsepower for the three and nine months ended September 30, 2026 compared to the three and nine months ended September 30, 2025.

Previous 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.

Current wording

The 29.0% increase in fleet horsepower and the 29.8% increase in total available horsepower for the three and nine months ended September 30, 2026 compared to the three and nine months ended September 30, 2025, primarily were due to the acquisition of approximately 1.0 million total horsepower in the J-W Power Acquisition.

Previous 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.

Current wording

The 19.3% and 18.6% decreases in average horsepower per revenue-generating compression unit for the three and nine months ended September 30, 2026, compared to the three and nine months ended September 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 $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.

Current wording

Contract operations revenue. The $80.4 million increase in contract operations revenue for the three months ended September 30, 2026, compared to the three months ended September 30, 2025, primarily was due to a $70.8 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 3.1% 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 1.8% 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. Contract operations revenue excludes $17.4 million and $14.8 million of related-party revenue for the three months ended September 30, 2026 and 2025, respectively.

Previous 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.

Current wording

Parts and service revenue. The $16.9 million increase in parts and service revenue for the three months ended September 30, 2026, compared to the three months ended September 30, 2025, was due to the additional revenue generated by the J-W Power Acquisition, including $15.1 million attributable to parts and service revenue earned on maintenance work performed on customer-owned equipment and $0.9 million attributable to manufacturing sales, and an increase of $0.9 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. Parts and service revenue excludes $9.1 million and $2.1 million of related-party revenue for the three months ended September 30, 2026 and 2025, respectively.

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 June 30, 2026 was generally consistent with the three months ended June 30, 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. The $9.6 million increase in related-party revenue for the three months ended September 30, 2026 compared to the three months ended September 30, 2025 was primarily due to an increase in manufacturing sales.

Previous 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.

Current wording

Cost of operations, exclusive of depreciation and amortization. The $58.1 million increase in cost of operations, exclusive of depreciation and amortization, for the three months ended September 30, 2026, compared to the three months ended September 30, 2025, primarily was due to (i) a $50.1 million increase attributable to the J-W Power Acquisition, (ii) a $4.0 million increase in fluids expense, (iii) a $2.9 million increase in non-income taxes resulting from a prior year sales tax refund receipt in the prior period, (iv) a $1.1 million increase in vehicle fleet expenses related to higher fuel cost, repair, and insurance, and (v) a $1.0 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 (vi) a $1.5 million decrease in parts consumption.

Previous 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.

Current wording

Depreciation and amortization expense. The $17.8 million increase in depreciation and amortization expense for the three months ended September 30, 2026, compared to the three months ended September 30, 2025, primarily was due to (i) a $15.6 million increase from the J-W Power Acquisition, (ii) a $1.2 million increase from new compression unit acquisitions, and (iii) a $1.0 million increase from overhauls and major improvements to compression units.

Previous 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.

Current wording

Selling, general, and administrative expense. The $14.3 million increase in selling, general, and administrative expense for the three months ended September 30, 2026, compared to the three months ended September 30, 2025, primarily was due to (i) a $9.0 million increase related to the J-W Power Acquisition, (ii) a $2.3 million increase in outside services and professional fees, (iii) a $1.4 million increase in other indirect costs, (iv) a $0.7 million increase in unit-based compensation, (v) a $0.5 million increase in transaction expenses related to the J-W Power Acquisition, and (vi) a $0.4 million increase in administrative salaries and benefits.

Previous 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.

Current wording

The $0.6 million impairment of assets for the three months ended September 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

As a result of our evaluation during the three months ended June 30, 2025 we retired four compression units with approximately 5,900 of aggregate horsepower that were previously used to provide compression services in our business.

Current wording

As a result of our evaluation during the three months ended September 30, 2025 we retired five compression units with approximately 2,900 of aggregate horsepower that were previously used to provide compression services in our business.

Previous 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.

Current wording

Interest expense, net. The $2.1 million increase in interest expense, net for the three months ended September 30, 2026, compared to the three months ended September 30, 2025, primarily was due to higher aggregate borrowings.

Previous 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.

Current wording

Income tax expense. The $3.3 million increase in income tax expense for the three months ended September 30, 2026, compared to the three months ended September 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

Contract operations revenue. The $146.1 million increase in contract operations revenue for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, primarily was due to a $129.9 million increase due to the J-W Power Acquisition with the remaining increase attributable our operations outside of the J-W Power Acquisition, including (i) a 2.8% increase in average revenue per revenue-generating horsepower per month as a result of 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.

Current wording

Contract operations revenue. The $226.5 million increase in contract operations revenue for the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily was due to a $200.6 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 2.9% increase in average revenue per revenue-generating horsepower per month as a result of 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 1.3% 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. Contract operations revenue excludes $47.9 million and $44.3 million of related-party revenue for the nine months ended September 30, 2026 and 2025, respectively.

Previous wording

Parts and service revenue. The $32.4 million increase in parts and service revenue for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, primarily was due to the additional revenue generated by the J-W Power Acquisition, including $22.7 million attributable to parts and service revenue earned on maintenance work performed on customer-owned equipment and $15.0 million attributable to manufacturing sales, partially offset by a decrease of $6.7 million in maintenance work attributable to 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.

Current wording

Parts and service revenue. The $49.3 million increase in parts and service revenue for the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily was due to the additional revenue generated by the J-W Power Acquisition, including $37.8 million attributable to parts and service revenue earned on maintenance work performed on customer-owned equipment and $15.9 million attributable to manufacturing sales, partially offset by a decrease of $4.5 million in maintenance work attributable to 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. Parts and service revenue excludes $9.7 million and $4.1 million of related-party revenue for the nine months ended September 30, 2026 and 2025, respectively.

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 six months ended June 30, 2026 was consistent with the six months ended June 30, 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. The $9.1 million increase in related-party revenue for the nine months ended September 30, 2026 compared to the nine months ended September 30, 2025 was primarily due to an increase in manufacturing sales.

Previous wording

Cost of operations, exclusive of depreciation and amortization. The $74.6 million increase in cost of operations, exclusive of depreciation and amortization, for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, primarily was due to (i) an $80.5 million increase attributable to the J-W Power Acquisition and (ii) a $8.3 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 $4.2 million decrease in fluids expense, (iv) a $4.0 million decrease in part consumption, (v) a $4.0 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, and (vi) a $1.3 million decrease in outside maintenance expense for third party services.

Current wording

Cost of operations, exclusive of depreciation and amortization. The $132.7 million increase in cost of operations, exclusive of depreciation and amortization, for the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily was due to (i) a $128.9 million increase attributable to the J-W Power Acquisition and (ii) an $11.0 million increase in direct labor costs due to increased operating headcount associated with increased average revenue-generating horsepower and higher employee costs, (iii) a $2.4 million increase in non-income taxes resulting from a prior year sales tax refund receipt in the prior period, and (iv) a $2.0 million increase in vehicle fleet expenses related to higher fuel cost, repair, and insurance, partially offset by (v) a $5.5 million decrease in part consumption, (vi) a $4.0 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, (vii) a $1.2 million decrease in outside maintenance expense for third party services, and (viii) a $0.3 million decrease in fluids expense.

Previous wording

Depreciation and amortization expense. The $35.0 million increase in depreciation and amortization expense for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, primarily was due to (i) a $29.8 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 $52.8 million increase in depreciation and amortization expense for the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily was due to (i) a $45.4 million increase from the J-W Power Acquisition, (ii) a $4.5 million increase from overhauls and major improvements to compression units, and (iii) a $2.6 million increase from new compression unit acquisitions.

Previous wording

Selling, general, and administrative expense. The $32.5 million increase in selling, general, and administrative expense for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, primarily was due to (i) a $19.5 million increase related to the J-W Power Acquisition, (ii) a $4.5 million increase in transaction expenses related to the J-W Power Acquisition, (iii) a $3.9 million increase in outside services and professional fees, (iv) a $3.0 million increase in unit-based compensation, (v) a $1.0 million increase in administrative salaries and related benefits, and (vi) a $0.6 million increase in other indirect costs.

Current wording

Selling, general, and administrative expense. The $46.8 million increase in selling, general, and administrative expense for the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily was due to (i) a $27.3 million increase related to the J-W Power Acquisition, (ii) a $6.2 million increase in outside services and professional fees, (iii) a $5.0 million increase in transaction expenses related to the J-W Power Acquisition, (iv) a $3.6 million increase in unit-based compensation, (v) a $2.1 million increase in other indirect costs, and (vi) a $1.4 million increase in administrative salaries and related benefits.

Previous wording

Impairment of assets. The $4.0 thousand and $6.9 million impairments of assets for the six months ended June 30, 2026 and 2025, respectively, primarily resulted from our evaluation of the future deployment of idle fleet under current market conditions. The primary circumstances supporting these impairments 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

Impairment of assets. The $4 thousand and $7.5 million impairments of assets for the nine months ended September 30, 2026 and 2025, respectively, primarily resulted from our evaluation of the future deployment of idle fleet under current market conditions. The primary circumstances supporting these impairments 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

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.

Current wording

As a result of our evaluations during the nine months ended September 30, 2026 and 2025, we retired 1 and 26 compression units, respectively, with approximately 335 and 19,000 aggregate horsepower, respectively, that previously were used to provide compression services in our business.

Previous wording

Interest expense, net. The $3.2 million increase in interest expense, net for the six months ended June 30, 2026, compared to the six 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.

Current wording

Interest expense, net. The $5.3 million increase in interest expense, net for the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily was due to higher aggregate borrowings.

Previous wording

Income tax expense. The $7.7 million increase in income tax expense for the six months ended June 30, 2026, compared to the six 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.

Current wording

Income tax expense. The $10.9 million increase in income tax expense for the nine months ended September 30, 2026, compared to the nine months ended September 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

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.

Current wording

Gross margin. The $31.0 million increase in gross margin for the three months ended September 30, 2026, compared to the three months ended September 30, 2025, was due to (i) a $106.9 million increase in revenues, partially offset by (ii) a $58.1 million increase in cost of operations, exclusive of depreciation and amortization, and (iii) a $17.8 million increase in depreciation and amortization.

Previous wording

The $68.5 million increase in gross margin for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, was due to (i) a $178.1 million increase in revenues, partially offset by (ii) a $74.6 million increase in cost of operations, exclusive of depreciation and amortization, and (iii) a $35.0 million increase in depreciation and amortization.

Current wording

The $99.5 million increase in gross margin for the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, was due to (i) a $285.0 million increase in revenues, partially offset by (ii) a $132.7 million increase in cost of operations, exclusive of depreciation and amortization, and (iii) a $52.8 million increase in depreciation and amortization.

Previous 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.

Current wording

Adjusted gross margin. The $48.8 million increase in Adjusted gross margin for the three months ended September 30, 2026, compared to the three months ended September 30, 2025, was due to a $106.9 million increase in revenues offset by a $58.1 million increase in cost of operations, exclusive of depreciation and amortization.

Previous 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.

Current wording

Adjusted EBITDA. The $37.0 million increase in Adjusted EBITDA for the three months ended September 30, 2026, compared to the three months ended September 30, 2025, primarily was due to a $48.8 million increase in Adjusted gross margin, partially offset by a $15.4 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

The $82.8 million increase in Adjusted EBITDA for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, primarily was due to a $103.5 million increase in Adjusted gross margin, partially offset by a $23.4 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

The $119.9 million increase in Adjusted EBITDA for the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily was due to a $152.3 million increase in Adjusted gross margin, partially offset by a $38.8 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 $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.

Current wording

DCF. The $23.3 million increase in DCF for the three months ended September 30, 2026, compared to the three months ended September 30, 2025, primarily was due to (i) a $37.0 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 $9.5 million increase in maintenance capital expenditures, (iv) a $2.4 million increase in cash interest expense, net, and (v) a $1.9 million increase in cash income tax expense.

Previous wording

The $77.5 million increase in DCF for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, primarily was due to (i) an $82.8 million increase in Adjusted EBITDA and (ii) a $6.3 million decrease in distributions on Preferred Units due to the conversion of the remaining Preferred Units into common units, partially offset by (iii) a $3.6 million increase in maintenance capital expenditures, (iv) a $3.1 million increase in cash income tax expense, and (v) a $4.0 million increase in cash interest expense, net.

Current wording

The $100.8 million increase in DCF for the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily was due to (i) a $119.9 million increase in Adjusted EBITDA and (ii) an $8.3 million decrease in distributions on Preferred Units due to the conversion of the remaining Preferred Units into common units, partially offset by

Previous 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.

Current wording

DCF Coverage Ratio. The increase in DCF Coverage Ratio for the three and nine months ended September 30, 2026, compared to the three and nine months ended September 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.