Breakeven Coverage Analysis Breakeven Coverage Detail Exchange Ratio Calculation AM SQ Distribution / Unit $2.21 AM SQ Coverage 1.3068x Non-AR AM Breakeven 1.8087x XR (all-in XR excluding $0.415 special dividend) PF Distribution / Share to Non-AR AM Unitholders $2.21 Coverage 1.3312x 1.6350x Equity XR PF Distribution / Share to Non-AR AM Unitholders $2.21 Coverage 1.2033x Based on AR Breakeven Analysis 1.7760x All-In AR XR PF Distribution / Share to Non-AR AM Unitholders $2.25 Coverage 1.3074x 1.6023x AR Equity XR PF Distribution / Share to Non-AR AM Unitholders $2.26 Coverage 1.1794x 2 Source: Company filings, FactSet as of 9/21/2018. AM GP Proposal to AR Equity XR 1.6023x Cash Consideration $3.000 AM GP 20-Day VWAP (9/21/2018) $17.27 Cash Consideration Implied XR 0.1737x AM GP Proposal to AR All-In XR 1.7760x AM GP Proposal to Non-AR AM Equity XR 1.6350x Cash Consideration (Ex. Spec ial Distribution) $3.000 AM GP 20-Day VWAP (9/21/2018) $17.27 Cash Consideration Implied XR 0.1737x AM GP Proposal to Non-AR AM All-In XR (Ex. Special Div) 1.8087x 2019 CONFIDENTIAL DRAFT SUBJECT TO CHANGE

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