Kodiak Gas Services (KGS) Investor presentation summary

Business overview and market position

• Operates a leading fleet with 4.5 million horsepower in compression and ~400 MW in distributed power, focusing on the Permian Basin and large horsepower applications.

• Maintains a highly skilled workforce of ~900 technicians and a state-of-the-art training facility.

• Holds a $6 billion market capitalization and a 2.8% dividend yield as of May 2026.

• Recognized as a market leader in both natural gas compression and distributed power, with 80% of fleet classified as large horsepower units.

Growth strategy and outlook

• Targets annual compression fleet growth of 3–4%, aiming for over 5.2 million HP by 2030.

• Distributed power fleet expected to reach ~2 GW by 2030, with 300–500 MW annual growth.

• Focuses on integrating acquisitions, increasing utilization, and delivering industry-leading service.

• Committed to returning capital to shareholders through dividends and opportunistic share repurchases.

Industry trends and demand drivers

• U.S. gas demand projected to grow by 30 Bcf/d through 2035, requiring ~18 million incremental HP.

• Over 100 GW of new data center demand expected by 2035, driving massive power needs.

• Texas leads in data center and natural gas-fired power plant development, with >30 GW of projects in the next two years.

• Distributed power solutions are critical due to long grid connection wait times and grid instability.