Kinetik (KNTK) Proxy Filing summary

Executive summary

• Achieved record natural gas processed volume growth of 13% and Adjusted EBITDA growth of 16% year-over-year in 2024, driven by strategic acquisitions and commercial agreements.

• Closed $1 billion in transactions, including the Durango Permian acquisition and divestiture of a 16% stake in Gulf Coast Express pipeline, expanding operations in New Mexico.

• Increased equity interest in EPIC Crude Holdings, LP to 27.5% and announced a strategic connector pipeline to support future growth.

• Reduced leverage below target, increased cash dividend by 4%, and received a positive credit ratings outlook from S&P.

• Enhanced public float after Apache’s exit and continued focus on safe, reliable, and environmentally responsible operations.

Voting matters and shareholder proposals

• Election of 10 directors for one-year terms.

• Advisory vote to approve 2024 executive compensation (say-on-pay).

• Ratification of KPMG LLP as independent auditor for fiscal year 2025.

• Board recommends voting FOR all proposals.

Board of directors and corporate governance

• Board consists of 10 members, 9 of whom are independent; diverse skills in finance, operations, sustainability, and governance.

• Blackstone and I Squared retain director nomination rights based on ownership; board size reduced from 11 to 10 in 2025.

• Annual board and committee self-evaluations; strong focus on independence and governance best practices.

• Separate Chair, CEO, and Lead Independent Director roles; Laura Sugg serves as Lead Independent Director.

• Stockholders can act by written consent and call special meetings with 10% ownership.