USA Compression Partners (USAC) investor relations material

Executive summary

• Q1 2026 marked the first quarter post-J-W Power acquisition, adding over 0.8 million active horsepower and expanding fleet and manufacturing capabilities across key U.S. regions.

• Revenues reached a record $331.3 million, up 35% year-over-year, with net income rising to $38.3 million, an 87% increase.

• Average revenue-generating horsepower hit 4.44 million, up 25% year-over-year, with utilization rates at 91.9%–92.0%.

• Distribution of $0.525 per unit declared, consistent with prior quarters, and coverage ratio improved to 1.72x.

• Integration of J-W Power and ERP system completed, supporting streamlined operations and reporting.

Financial highlights

• Adjusted EBITDA for Q1 2026 was $188.6 million, up 26% year-over-year, with adjusted EBITDA margin at 56.9%.

• Distributable cash flow for Q1 2026 was $130.8 million, with a coverage ratio of 1.72x.

• Adjusted gross margin reached 64.4%, and gross margin was $126.2 million.

• Average revenue per horsepower hit a record $22.73, up 8% year-over-year.

• Leverage ratio at quarter-end was 3.74x, with net debt at $2.98 billion.

Outlook and guidance

• Full-year 2026 adjusted EBITDA guidance is $770–800 million; distributable cash flow guidance is $480–510 million.

• Maintenance capital projected at $60–$70 million; expansion capital at $230–$250 million.

• Nearly fully contracted for 2026, with advanced orders for engines through 2029 to address extended lead times.

• Management expects operating cash flow and credit facility to cover debt service, capex, and distributions for the next 12 months.