Archrock : May Investor Presentation

ARCHROCK, INC.

Energy Infrastructure CEO & Investor Conference

May 2024

Forward-Looking Statements

All statements in this presentation (and oral statements made regarding the subjects of this presentation) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Archrock, Inc. Forward-looking information includes, but is not limited to statements regarding: guidance or estimates related to Archrock's results of operations or of financial condition; fundamentals of Archrock's industry, including the attractiveness of returns and valuation, stability of cash flows, demand dynamics and overall outlook, and Archrock's ability to realize the benefits thereof; Archrock's expectations regarding future economic, geopolitical and market conditions and trends; Archrock's operational and financial strategies, including planned growth, coverage and leverage reduction strategies, Archrock's ability to successfully effect those strategies, and the expected results therefrom; Archrock's financial and operational outlook; demand and growth opportunities for Archrock's services; structural and process improvement initiatives, the expected timing thereof, Archrock's ability to successfully effect those initiatives and the expected results therefrom; the operational and financial synergies provided by Archrock's size; and statements regarding Archrock's dividend policy.

While Archrock believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: risks related to pandemics and other public health crises; an increase in inflation; ongoing international conflicts and tensions; risks related to our operations; competitive pressures; inability to make acquisitions on economically acceptable terms; uncertainty to pay dividends in the future; risks related to a substantial amount of debt and our debt agreements; inability to access the capital and credit markets or borrow on affordable terms to obtain additional capital; inability to fund purchases of additional compression equipment; vulnerability to interest rate increases; uncertainty relating to the phasing out of London Interbank Offered Rate; erosion of the financial condition of our customers; risks related to the loss of our most significant customers; uncertainty of the renewals for our contract operations service agreements; risks related to losing management or operational personnel; dependence on particular suppliers and vulnerability to product shortages and price increases; information technology and cybersecurity risks; tax-related risks; legal and regulatory risks, including climate-related and environmental, social and governance risks.

These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties described in Archrock's Annual Report on Form 10-K for the year ended December 31, 2023, Archrock's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 and those set forth from time to time in Archrock's filings with the Securities and Exchange Commission, which are available at www.archrock.com. Except as required by law, Archrock expressly disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.

2

ARCHROCK, INC. (NYSE:AROC)

Archrock - Company Overview

Returns oriented energy infrastructure company

• Natural gas compression company based in Houston, Texas
• A premier outsourced compression provider in U.S.(1)
• Compression is a must-run service for gas transportation
• Specialize in large HP servicing midstream gathering systems
• Fee-basedcontracts with high-quality,long-term customers
• Strong geographic diversity across all major U.S. gas & oil basins

• NYSE: AROC
• Market Cap: $3.1 billion(2)
• Enterprise Value: $4.7 billion(2)(3)
• Dividend: $0.165/quarter(4)
• Yield: 3.3%(2)(5)
• Shares Outstanding: 156 million(2)

Our vision is to provide superior compression services, unmatched technical expertise and an

unwavering commitment to safety

(1) Based on total horsepower as of March 31, 2024. (2) Stock price as of May 14, 2024 and shares outstanding as of April 24, 2024. (3) Includes debt balance as of March 31, 2024. (4) Paid May 14, 2024. (5) Yield calculated as most recent

quarterly dividend annualized and divided by the stock price as of May 14, 2024.

3

ARCHROCK, INC. (NYSE:AROC)

An Attractive Energy Infrastructure Investment

Archrock Investment Highlights

Midstream / Large HP Focus

Resilience Through Cycles

Structural, Long-term

Demand Drivers

Solid Financial Position

Sustainable Future

(1) Based on total horsepower as of March 31, 2024. (2) Quarter ended March 31, 2024.

• Gathering focus; a premier provider of large HP, 85% of fleet(1)
• Compression is a must-runservice for gas transportation
• Attractive, long-term & diversified customer relationships
• Business driven by oil and gas production
• Multi-year, fee-based contracts
• Positive EBITDA generated through cycles
• Tied to long-term, structural demand for U.S. natural gas
• Natural gas is reliable, cleaner and affordable
• Diversified asset footprint in leading associated gas basins
• 10% increase in dividend per share since Q422 and current $50 mm share repurchase authorization
• Strong dividend coverage of 3.2x(2)
• Target leverage ratio of 3.0-3.5x
• Digital transformation drives future cost, service and environmental benefits
• Invested in helping our customers reduce emissions
• Committed to sustainability performance enhancements

4

ARCHROCK, INC. (NYSE:AROC)

Record Performance and Strong 2024 Outlook

Significant value drivers

• Transformed Platform. Highly standardized large horsepower units deployed in stable infrastructure segment.
• Compelling financial position and capital allocation. Expect free cash flow generation to drive leverage lower and shareholder returns higher.
• Robust Market For Compression. Sold out of new build equipment for 2024 and have already begun building an order book for 2025.
• Long-termprospect to leverage technology for a more digitized, automated and sustainable future.
  Opportunity to bring methane and carbon capture technology to market.

2024 Adjusted EBITDA Outlook Reflects Pricing and Profitability Increases(1)

$MM

352

417

415

$500-530$510-540

450

352

361

363

2018	2019	2020	2021	2022	2023	2024 Initial	2024 Revised
						Guidance	Guidance
						Range	Range

(1) See Addendum I regarding non-GAAP measures for information on adjusted EBITDA. Initial 2024 guidance provided on February 20, 2024, and revised 2024 guidance provided on April 30, 2024.	5

ARCHROCK, INC. (NYSE:AROC)

Our Rich Company Legacy

Successful 70-year company history with proven success over time

1950's		1990 - 2006		2007 - 2014		2015 - Current

6

ARCHROCK, INC. (NYSE:AROC)

Premier Provider of Outsourced Compression

Compression increases pressure within a pipeline to transport natural gas

A Must-Run Service

• Equipment that moves natural gas through infrastructure systems to consuming markets
• Compression also used to provide enhanced oil production rates through gas lift
• 24 hours a day, 7 days a week, 365 days a year operation
• Compression needed across the energy value chain, from the wellhead to distribution
• Can be owned or outsourced to a compression specialist such as Archrock

What Does it Look Like?

Benefits to customer of outsourcing

Leverages Archrock's compression

expertise

Reduces capital expenditures

Utilizes Archrock's operational footprint & execution capability

Limits risk of idle customer assets after initial application

Large horsepower unit (1,875 HP)

7

ARCHROCK, INC. (NYSE:AROC)

Archrock's Focus on Midstream

Our midstream focus results in greater stability

Characteristic

Production Focused

Longer Contracts

Earnings Stability

Financial Flexibility

The Midstream Benefit

Relatively stable compression demand

Longer-term,fee-based assignments

Relative adjusted EBITDA stability through cycles

Strong cash flow generation

The Result to Archrock

• Utilization range between 82% and 96%(1)
• Average time on-site ~4 years(2)
• Shareholder return and debt reduction
• 3.2x dividend coverage(3)

(1) Period utilization for 2018 through March 31, 2024. (2) Year ended December 31, 2023. (3) Quarter ended March 31, 2024.	8

ARCHROCK, INC. (NYSE:AROC)

A Market Leader in Large Horsepower

Leveraging the growing industry trend towards larger HP units

Fleet Allocation(1)

85% Large HP

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Drivers of Large HP Demand

Drilling Efficiency

▪ High probability drilling programs allow for efficient infrastructure planning

& Predictability

▪ Large HP is more cost effective than a series of smaller HP units

Increasing Lateral

▪ Longer lateral lengths increase flow to the wellhead

Lengths

▪ Higher volumes require more compression

Pad Drilling from

▪ Pad drilling brings multiple wells to a single wellsite, increasing volumes and

Shale Wells

compression demand

Gas Associated

▪ Lower initial pressure vs. dry gas wells; requires more compression

with Oil

▪

Compressors economically advantaged in gas lift

Production

Note: Small compressors are 1,000 horsepower and less and large compressors are greater than 1,000 horsepower.

(1) Based on total horsepower as of March 31, 2024.

ARCHROCK, INC. (NYSE:AROC)

9

Significant Horsepower Density in Oil-Driven Shale Plays

Associated gas volumes need to be transported, and therefore compressed

• Oil prices continue to support healthy economics for oil-directed drilling in shale plays like the Permian and Eagle Ford
• • Permian and Eagle Ford represent ~2/3 of operating
    HP(1)
  • Driving strong demand for our midstream horsepower, even in the lower gas price environment
• Regional diversification provides protection against basin-specific headwinds
• Mobile units capable of re- deployment to meet changing customer demand or market pressure

1. As of December 31, 2023.

Niobrara

SCOOP / STACK

Permian

Eagle Ford

Indicates active horsepower unit as of December 31, 2023.

10

ARCHROCK, INC. (NYSE:AROC)