Hess Midstream repurchases $100M of Class B units from sponsors at $35.42/share

Hess Midstream LP

Repurchased 2,823,262 Class B units from Hess Corp and GIP affiliates for ~$100M (1.3% of consolidated co).
Transaction closed Sept 11, 2024; funded via revolving credit facility.
Since 2021, total $1.85B returned to shareholders via sponsor unit repurchases; >$1.25B financial flexibility through 2026.
Expected to increase distributable cash flow per Class A share, supporting annual distribution growth of at least 5% through 2026.
Post-repurchase ownership: public 41.5%, GIP 20.7%, Hess Corp 37.8%.

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