Series B Sensitivity Exchange Ratio Analysis – All AM Unitholders 1 Source: Company management, FactSet as of 8/30/2018. Note: Based on AMGP share price of $17.28. Exchange Ratio XR Consideration to Unaffiliateds XR Consideration to AR Value of XR Consideration Incremental Value with XR Increase Total Implied Series B value Shares Issued to Series B Unitholders 1.775x$2,767$3,079$5,846-$32018.5 1.785x$2,782$3,096$5,879$33$28716.6 1.795x$2,798$3,114$5,911$33$25514.7 1.805x$2,813$3,131$5,944$33$22212.9 1.815x$2,828$3,148$5,976$33$19011.0 1.825x$2,844$3,165$6,009$33$1579.1 1.835x$2,859$3,182$6,041$33$1257.2 1.845x$2,874$3,200$6,074$33$925.3 1.855x$2,889$3,217$6,106$33$603.5 1.865x$2,905$3,234$6,139$33$271.6 1.875x$2,920$3,251$6,171$33N/AN/A 1.885x$2,935$3,269$6,204$33N/AN/A CONFIDENTIAL DRAFT SUBJECT TO CHANGE

Series B Sensitivity Exchange Ratio Analysis – Unaffiliated AM Unitholders 2 Source: Company management, FactSet as of 8/30/2018. Note: Based on AMGP share price of $17.28. Exchange Ratio XR Consideration to Unaffiliateds XR Consideration to AR Value of XR Consideration Incremental Value with XR Increase Total Implied Series B value Shares Issued to Series B Unitholders 1.775x$2,767$3,079$5,846-$32018.5 1.785x$2,782$3,079$5,862$15$30417.6 1.795x$2,798$3,079$5,877$15$28916.7 1.805x$2,813$3,079$5,892$15$27415.8 1.815x$2,828$3,079$5,907$15$25915.0 1.825x$2,844$3,079$5,923$15$24314.1 1.835x$2,859$3,079$5,938$15$22813.2 1.845x$2,874$3,079$5,953$15$21312.3 1.855x$2,889$3,079$5,969$15$19711.4 1.865x$2,905$3,079$5,984$15$18210.5 1.875x$2,920$3,079$5,999$15$1679.7 1.885x$2,935$3,079$6,014$15$1528.8 CONFIDENTIAL DRAFT SUBJECT TO CHANGE