Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 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: 001-35172 NGL Energy Partners LP (Exact Name of Registrant as Specified in Its Charter) (Sta ...

NGL Energy Partners LP (NYSE:NGL) Q4 2022 Earnings Conference Call June 6, 2022 5:00 PM ET Company Participants Linda Bridges - Executive Vice President & Chief Financial Officer Mike Krimbill - Chief Executive Officer, President & Director Jeff Pinter - Executive Vice President, Liquids Logistics Doug White - Executive Vice President-Water Solutions Conference Call Participants Tarek Hamid - JPMorgan Jason Mandel - RBC Capital Markets Robert Kane - Kane LLC John Horton - BMR James Yoon - Nomura Edward Camp ...

Investor Presentation June 2022 Company Overview Water Solutions Crude Oil Logistics Liquids Logistics ▪ Provides water transportation, treating, recycling and handling services for upstream customers ▪ Largest integrated water solutions network of injection wells and large diameter pipe in the Delaware Basin ▪ Predictable cash flows supported by longterm fixed fee contracts, acreage dedications and minimum volume commitments ▪ Purchases crude oil from producers and marketers for sale at multiple refineries ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2022 OR Commission File Number: 001-35172 NGL Energy Partners LP (Exact Name of Registrant as Specified in Its Charter) Delaware 27-3427920 (State or ...

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $147.7 million for the quarter, which was below expectations [51] - The fiscal 2022 EBITDA range has been adjusted to $550 million to $560 million, aligning with average analyst expectations [13][51] - Capital expenditures for the quarter totaled $26.5 million, with a year-to-date total of $96 million, and guidance for fiscal 2022 has been updated to $125 million to $130 million due to unexpected repairs [51][52] Business Segment Data and Key Metrics Changes - Water Solutions segment reported adjusted EBITDA of $82.7 million, with processed barrels totaling approximately 1.84 million barrels per day, a 30% increase year-over-year [43] - Crude Oil Logistics segment reported adjusted EBITDA of $29.8 million, impacted by backwardation in the crude curve, which negatively affected hedging positions and inventory valuations [47][48] - Liquids segment reported adjusted EBITDA of $48 million, driven by positive results in the butane business and favorable location differentials [49] Market Data and Key Metrics Changes - The company experienced lower water disposal volumes in October and November, leading to a shortfall in expected EBITDA for Water Solutions [8] - The current crude oil price is approximately $90 per barrel, which is $12 above the third quarter pre-transportation price [12] - The company anticipates a 10% increase in Water Solutions EBITDA for fiscal 2023, projecting approximately $32 million EBITDA per month [11] Company Strategy and Development Direction - The company is focusing on repaying all of the 2023 unsecured notes prior to maturity and has repurchased $20 million of these notes during the quarter [52] - Collaboration with XRI for recycling services is aimed at enhancing the efficiency of produced water management without incurring additional capital expenses [30] - The company is augmenting free cash flow through asset sales, having closed on $12 million of sales thus far in fiscal 2022, with an additional $20 million identified for fiscal 2023 [13] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment in the quarter's performance but noted expectations for recouping shortfalls in the fourth fiscal quarter due to colder-than-normal temperatures [9] - The management remains optimistic about the Water Solutions segment, expecting to exit the fiscal year with approximately two million barrels a day of processed water volume [44] - The management indicated that the operating environment remains challenging but sees potential for growth in the Water Solutions segment and improved margins in the Liquids segment [50][53] Other Important Information - The company has identified a significant dedication in the Water Solutions segment that is expected to be the largest in its history [75] - The company has approximately 60 additional inventory permits for saltwater disposal, which are laddered to maintain operational capacity [109] - The company is working through the budgeting process for fiscal 2023 and will provide updates in the next earnings call [53] Q&A Session Summary Question: How does the company view induced seismicity issues? - Management views induced seismicity as more of an opportunity than a threat, estimating a potential incremental increase in water processing of 5% to 7% if current rules remain in place [57] Question: What caused the drop in recycled water volumes? - The drop was attributed to producers being disciplined in their operations during the last quarter, but an increase in activity was noted in December [58] Question: What is the outlook for inventory reversal? - The company expects a reversal in inventory levels, with a projected reduction of over $100 million in working capital balances [62] Question: What is the status of the XRI agreement? - The collaboration with XRI is expected to significantly increase recycled water volumes, with a goal of exceeding 100,000 barrels a day [78] Question: What are the plans for asset sales? - The company has identified $20 million in asset sales for this year and is actively working on selling underutilized assets to improve the balance sheet [116]

Investor Presentation August 2021 Company Information NGL ENERGY PARTNERS LP | --- | --- | |-----------------------|---------------| | NYSE Ticker | NGL | | Common Unit Price | $1.85 | | Market Capitalization | $1.05 billion | | Enterprise Value | $4.45 billion | CONTACT INFORMATION Corporate Headquarters NGL Energy Partners LP 6120 South Yale Avenue, Suite 805 Tulsa, Oklahoma 74136 Website www.nglenergypartners.com Investor Relations Contact us at (918) 481-1119 or e-mail us at InvestorInfo@nglep.com FORWA ...

NGL Energy Partners LP (NYSE:NGL) Q2 2022 Earnings Conference Call November 9, 2021 5:00 PM ET Company Participants Linda Bridges - EVP & CFO Michael Krimbill - CEO, President & Director Douglas White - EVP, NGL Water Solutions Don Robinson - EVP, Crude Oil Logistics Jeff Pinter - EVP, Liquids Logistics Conference Call Participants Tarek Hamid - JPMorgan Patrick Fitzgerald - Robert W. Baird & Co. Philipp Duffner - Aurelius Operator Good afternoon, ladies and gentlemen, and welcome to the NGL Energy Partners ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 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: 001-35172 NGL Energy Partners LP (Exact Name of Registrant as Specified in Its Charter) ...

NGL Energy Partners LP (NYSE:NGL) Q1 2022 Results Conference Call August 9, 2021 5:00 PM ET Company Participants Mike Krimbill - Chief Executive Officer Trey Karlovich - Chief Financial Officer Conference Call Participants Tarek Hamid - JPMorgan Philip Duffner - Aurelius Capital Management Patrick Fitzgerald - Baird Ward Blum - UBS TJ Schultz - RBC Capital Markets Lauren Herman - Bank of America Operator Good day and thank you for standing by. Welcome to the Q1 FY 2022 NGL Energy Partners LP Earnings Confer ...

FORM 10-Q Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR Washington, D.C. 20549 ☐ 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: 001-35172 NGL Energy Partners LP (Exact Name of Registrant as Specified in Its Charter) (Sta ...