Financial Data and Key Metrics Changes - For Q3 2024, net income was $165 million, an increase from $160 million in Q2 2024 [20] - Adjusted EBITDA for Q3 2024 was $287 million, up from $276 million in Q2 2024, primarily due to higher throughput volumes [20][22] - The gross adjusted EBITDA margin for Q3 was maintained at approximately 80%, above the 75% target [22] Business Line Data and Key Metrics Changes - Gas processing throughput averaged 419 million cubic feet per day, crude terminaling averaged 122,000 barrels per day, and water gathering averaged 128,000 barrels per day in Q3 2024 [7] - Gathering revenues increased by approximately $3 million, processing revenues increased by approximately $1 million, while terminaling revenues decreased by approximately $1 million compared to the previous quarter [20] Market Data and Key Metrics Changes - Hess reported Q3 net production for the Bakken averaged 206,000 barrels of oil equivalent per day, exceeding the guidance range of 200,000 to 205,000 barrels [9] - The company anticipates Bakken net production to be in the range of 200,000 to 205,000 barrels in Q4 2024, reflecting lower expected volumes due to wildfires [9] Company Strategy and Development Direction - The company is focused on executing its operational priorities and delivering growth strategies to drive sustainable cash flow generation [14] - Capital expenditures for 2024 are expected to be approximately $270 million, supporting Hess and third-party development in the Bakken [13] - The company plans to grow throughput by approximately 10% across its oil and gas systems in 2024 compared to 2023 [11] Management's Comments on Operating Environment and Future Outlook - Management highlighted that the impact of October wildfires would primarily affect volume rather than costs, with a recovery expected [36] - The company expects approximately 10% annualized growth in oil and gas volumes through 2026, supporting greater than 10% growth in adjusted EBITDA [24] - Management remains optimistic about capturing additional third-party volumes while supporting Hess' production growth [32] Other Important Information - The company has returned $1.85 billion to shareholders through repurchases since 2021, with a distribution per Class A share growth of over 10% in 2024 year-to-date [15][18] - The company expects to generate greater than $1.25 billion of financial flexibility through 2026 for incremental shareholder returns [17] Q&A Session Summary Question: What is the sponsorship appetite given recent ownership changes? - Management indicated that secondary offerings are demand-driven and there is no preset pace for changes in ownership levels [27][30] Question: How does the company view long-term growth in Bakken? - The company maintains a long-term outlook of approximately 10% for third-party volumes and is positioned to capture additional opportunities [31][56] Question: What impact will wildfires have on costs and volumes? - The primary impact will be on volumes due to power outages, with a recovery expected [36] Question: Can you elaborate on the guidance for 2024? - Despite the wildfires, the company anticipates a 5% increase in EBITDA for Q4 compared to Q3, with various factors influencing the range [39] Question: What is the outlook for M&A activity? - The company continues to look for strategic bolt-on opportunities that strengthen its position in the basin while prioritizing its return of capital program [58][61]

Exhibit 99.1 HESS MIDSTREAM LP HESS MIDSTREAM LP REPORTS ESTIMATED RESULTS FOR THE THIRD QUARTER OF 2024 Third Quarter 2024 Highlights: • Net income was $164.7 million. Net cash provided by operating activities was $224.9 million. • Net income attributable to Hess Midstream LP was $58.6 million, or $0.63 basic earnings per Class A share, after deduction for noncontrolling interests. • Adjusted EBITDA 1 was $286.9 million and Adjusted Free Cash Flow 1 was $141.4 million. • Completed accretive $100 million re ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-39163 Hess Midstream LP (Exact name of Registrant as specified in its charter) DELAWARE 84-3211812 (State or other jurisdiction of incorporation or o ...

Hess Midstream LP. (NYSE:HESM) Q2 2024 Earnings Conference Call July 31, 2024 12:00 PM ET Company Participants Jennifer Gordon - VP, IR John Gatling - President, COO Jonathan Stein - CFO Conference Call Participants Doug Irwin - Citi John Mackay - Goldman Sachs & Company Naomi Marfatia - UBS Praneeth Satish - Wells Fargo Operator Good day, ladies and gentlemen. And welcome to the Second Quarter 2024 Hess Midstream Conference Call. My name is Gigi, and I’ll be your operator for today. At this time, all parti ...

Exhibit 99.1 HESS MIDSTREAM LP HESS MIDSTREAM LP REPORTS ESTIMATED RESULTS FOR THE SECOND QUARTER OF 2024 Second Quarter 2024 Highlights: • Throughput volumes increased 17% for gas processing, 17% for oil terminaling and 43% for water gathering compared with the prior-year quarter, primarily due to higher production, higher gas capture and higher system utilization. • Net income was $160.3 million. Net cash provided by operating activities was $271.6 million. • Net income attributable to Hess Midstream LP w ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-39163 Hess Midstream LP (Exact name of Registrant as specified in its charter) DELAWARE 84-3211812 (State or other jurisdiction of incorporation or ...

Hess Midstream LP (NYSE:HESM) Q1 2024 Results Conference Call April 25, 2024 12:00 PM ET Company Participants Jennifer Gordon - VP, IR John Gatling - President, COO Jonathan Stein - CFO Conference Call Participants Doug Irwin - Citi Operator Good day, ladies and gentlemen. And welcome to the First Quarter 2024 Hess Midstream Conference Call. My name is Gigi, and I'll be your operator for today. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a questi ...

Financial Performance - Net income for Q1 2024 was $161.9 million, compared to $142.2 million in Q1 2023, with net income attributable to Hess Midstream LP at $44.6 million, or $0.60 basic earnings per Class A share[2][5] - Adjusted EBITDA for Q1 2024 was $275.8 million, and Adjusted Free Cash Flow was $194.2 million[2][5] - Revenues and other income in Q1 2024 were $355.6 million, up $50.6 million from the prior-year quarter, primarily due to higher physical volumes[6] - Total revenues for Q1 2024 increased to $355.6 million, up from $305.0 million in Q1 2023, driven by growth in affiliate services[29] - Net income attributable to Hess Midstream LP for Q1 2024 was $44.6 million, compared to $20.7 million in Q1 2023[29] - Income from operations for Q1 2024 was $222.0 million, up from $188.7 million in Q1 2023[29] - Net income attributable to noncontrolling interest for Q1 2024 was $117.3 million, down from $121.5 million in Q1 2023[29] - Total revenues for Q4 2023 were $356.5 million, with affiliate services contributing $351.5 million and third-party services contributing $4.3 million[35] - Net income attributable to Hess Midstream LP for Q4 2023 was $37.5 million, with a significant loss of $26.9 million in the interest and other segment[35] Throughput Volumes - Throughput volumes increased by 16% for gas processing, 13% for oil terminaling, and 47% for water gathering compared to the prior-year quarter[5] - Water gathering volumes increased 47% in Q1 2024, reflecting higher crude oil production and increased utilization of infrastructure[9] - Gas gathering throughput is expected to be 415-425 MMcf per day, and crude oil gathering is expected to be 105-115 MBbl per day for 2024[13] - Gas gathering throughput in Q4 2023 was 403 Mcf of natural gas per day, slightly higher than the 347 Mcf in Q1 2023[37] - Crude oil gathering throughput in Q4 2023 was 108 bopd, compared to 93 bopd in Q1 2023[37] - Gas processing throughput in Q4 2023 was 387 Mcf of natural gas per day, up from 338 Mcf in Q1 2023[37] - Crude terminals throughput in Q4 2023 was 120 bopd, compared to 104 bopd in Q1 2023[37] - NGL loading throughput in Q4 2023 was 16 blpd, significantly higher than the 9 blpd in Q1 2023[37] - Water gathering throughput in Q4 2023 was 113 blpd, up from 79 blpd in Q1 2023[37] Capital Expenditures and Cash Flow - Capital expenditures for Q1 2024 totaled $35.2 million, primarily for gas compression capacity expansion, down from $57.3 million in the prior-year quarter[10] - Quarterly cash distribution increased to $0.6516 per Class A share for Q1 2024, a 2.7% increase compared to Q4 2023[12] - Hess Midstream completed a $100 million repurchase of Class B units of Hess Midstream Operations LP in March 2024[5] Guidance and Forecast - Hess Midstream reaffirmed its full-year 2024 guidance, targeting net income of $670-$720 million and Adjusted EBITDA of $1,125-$1,175 million[13] Revenue Breakdown - Affiliate services revenue in Q1 2024 was $349.4 million, up from $303.4 million in Q1 2023, reflecting strong performance in gathering, processing, and terminaling[29][32] - Gathering segment revenue for Q1 2024 was $186.6 million, up from $164.4 million in Q1 2023[32] Expenses - Operating and maintenance expenses for Q1 2024 increased to $78.1 million, compared to $62.5 million in Q1 2023[29] - Depreciation expense for Q1 2024 was $49.8 million, slightly higher than $47.4 million in Q1 2023[29] - Interest expense, net for Q1 2024 was $48.5 million, compared to $41.6 million in Q1 2023[29] - Operating and maintenance expenses for Q4 2023 totaled $88.0 million, with depreciation expense at $50.4 million[35] Equity Investments - Income from equity investments in Q4 2023 was $2.4 million, primarily from the terminaling and export segment[35] Share Information - Weighted average Class A shares outstanding (basic) for Q1 2024 increased to 75.1 million, up from 44.0 million in Q1 2023[29]

HOUSTON--(BUSINESS WIRE)--Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced the execution of a definitive agreement providing for the repurchase of approximately $100 million of Class B units by its subsidiary, Hess Midstream Operations LP, from affiliates of Hess Corporation and Global Infrastructure Partners, Hess Midstream’s sponsors (the “Sponsors”). The terms of the proposed unit repurchase transaction were unanimously approved by the Board of Directors of Hess Midstream’s general part ...

HOUSTON--(BUSINESS WIRE)--Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), announced the filing of its annual report on Form 10-K for the fiscal year ended December 31, 2023 with the Securities and Exchange Commission on February 29, 2024. A copy of the annual report is available on Hess Midstream’s website, www.hessmidstream.com, by selecting “Investors” and then “SEC Filings.” Shareholders may request printed copies of our annual report on Form 10-K, which includes Hess Midstream’s complete audited fin ...