Kinetik Announces First Quarter Dividend, First Quarter 2022 Results Timing and Details of its Dividend Reinvestment Plan

HOUSTON and MIDLAND, Texas, April 21, 2022 (GLOBE NEWSWIRE) -- Kinetik Holdings Inc. (NASDAQ:KNTK) ("Kinetik" or the "Company") today announced a cash dividend of $1.50 per share ($6.00 on an annualized basis) for the first quarter ended March 30, 2022. The announced quarterly dividend is consistent with prior communications and will be paid on Tuesday, May 17, 2022 to shareholders of record as of the close of market on Thursday, May 5, 2022.

Kinetik will also host its first quarter 2022 results conference call Wednesday, May 11, 2022 at 8:00 am Central Daylight Time (9:00 am Eastern Daylight Time) to discuss first quarter results. The Company will issue its earnings release after close of market on Tuesday, May 10, 2022. The text of the earnings release, the accompanying presentation and link to the live webcast will be available on the Company's website at www.kinetik.com. A replay of the conference call will also be available on the website following the call.

Kinetik has filed and now implemented a Dividend Reinvestment Plan (the "DRIP" or the "Plan"). The DRIP is open to all shareholders. Participation is optional and will not affect shareholders' cash dividends, unless they formally elect to participate. The DRIP will provide Kinetik's shareholders with the opportunity to have all or a portion of the cash dividends declared on their common shares automatically reinvested into additional common shares of the Company. Shareholders may elect to terminate participation in the Plan at any time.

All investors should carefully read the prospectus describing the Plan before electing to participate. A complete description of the Plan is included in the Company's Form S-3 registration statement filed with the SEC on April 4, 2022 and is posted on the Company's website at www.kinetik.com.

To participate, shareholders of record may register online by visiting the American Stock Transfer's website at www.astfinancial.com or by contacting American Stock Transfer, the Plan Administrator, by telephone toll free from inside the United States at 1-(800)-278-4353 or outside of the United States at 1-(718)-921-8124. Shareholders may also contact the Plan Administrator in writing at American Stock Transfer & Trust Company, LLC, 6201 15th Avenue, Brooklyn, NY 11219. Please include a reference to Kinetik Holdings Inc. in all correspondence. Shareholders who own common stock through a broker should consult their broker regarding participation in the Plan.

About Kinetik Holdings Inc.

Kinetik is a fully integrated, pure-play, Permian-to-Gulf Coast midstream C-corporation operating in the Delaware Basin. Kinetik is headquartered in Midland, Texas and has a significant presence in Houston, Texas. Kinetik provides comprehensive gathering, transportation, compression, processing and treating services for companies that produce natural gas, natural gas liquids, crude oil and water. Kinetik posts announcements, operational updates, investor information and press releases on its website, www.kinetik.com.

Forward-looking statements

This news release includes certain statements that may constitute "forward-looking statements" for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "seeks," "possible," "potential," "predict," "project," "prospects," "guidance," "outlook," "should," "would," "will," and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about the Company's future plans, expectations, and objectives for the Company's operations, including statements about strategy, synergies, and future operations. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See Part I, Item 1A "Risk Factors" in Altus Midstream Company's 2021 Annual Report (predecessor to Kinetik) for a discussion of risk factors related to the Company. Any forward-looking statement made by us in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development, or otherwise, except as may be required by law.