Equitrans Midstream Corporation announced that EQM Midstream Partners, LP (the Partnership), has commenced tender offers (each, an Offer and, collectively, the Offers) to purchase for cash (i) any and all of its outstanding 4.750% Notes due 2023 (the Any and All Tender Offer, and such notes the Any and All Notes) and (ii) its 6.000% Notes due 2025 and its 4.000% Notes due 2024 (the Maximum Tender Offers, and such notes collectively, the Maximum Tender Notes) up to an aggregate principal amount of $200 million (as such amount may be increased or eliminated by the Partnership pursuant to the terms of the Offers. The terms and conditions of the Offers are set forth in the Partnership's Offer to Purchase, dated May 31, 2022 (the Offer to Purchase). The Offer to Purchase relates to three separate Offers, one for each series of notes (each series, a Series of Notes, and such notes, collectively, the Notes).

The Partnership's obligation to accept for purchase, and to pay for, Notes that are validly tendered and not validly withdrawn pursuant to each Offer is conditioned on the satisfaction or waiver by the Partnership of a number of conditions, including the receipt by the Partnership of the net proceeds from one or more debt financing transactions on terms and in amounts reasonably satisfactory to the Partnership (the Financing Condition). No Offer is conditioned on any minimum amount of Notes being tendered or the consummation of any other Offer. The Any and All Tender Offer will expire at 5:00 p.m., New York City time, on June 6, 2022, unless extended or earlier terminated (such time and date, as the same may be extended with respect to the Any and All Tender Offer, the Any and All Expiration Date).

Holders (as defined in the Offer to Purchase) of the Any and All Notes must validly tender and not validly withdraw their Any and All Notes at or prior to the Any and All Expiration Date to be eligible to receive the Total Consideration for such Any and All Notes. The settlement date for the Any and All Tender Offer is expected to be June 7, 2022, unless extended by the Partnership (the Any and All Settlement Date), or for Any and All Notes validly tendered pursuant to the guaranteed delivery procedures set forth in the Offer to Purchase, June 9, 2022 (the Guaranteed Delivery Settlement Date). The Maximum Tender Offers will expire at 11:59 p.m., New York City time, on June 28, 2022, unless extended or earlier terminated (such time and date, as the same may be extended with respect to the Maximum Tender Offers, the Maximum Tender Expiration Date).

Holders of Maximum Tender Notes must validly tender and not validly withdraw their Maximum Tender Notes at or prior to 5:00 p.m., New York City time, on June 13, 2022 (such time and date, as the same may be extended with respect to one or more Offers, the Early Tender Deadline) in order to be eligible to receive the applicable Total Consideration, which includes the Early Tender Premium for the Maximum Tender Notes of $30.00 per $1,000 principal amount of Notes tendered. Holders who validly tender their Maximum Tender Notes after the Early Tender Deadline and at or prior to the Maximum Tender Expiration Date will be eligible to receive only the applicable Tender Consideration.