2024年第三季 业绩会 2024年10月29日 阿蒙斯加压站-阿巴拉契亚集气系统第2期扩建 德特中游

豁免声明 本演示文稿包含一些不属于历史事实或现状的陈述，根据证券法视为『前瞻性陈述』。这些前瞻性陈述旨在根据我们认为合理的假设和目前我们已获得资讯，提供管理层对我们未来营运和财务表现、业务前景、监管程序结果、市场状况以及其他事项的当前预期或计划。 前瞻性陈述可以通过使用「相信」、「预期」、「期待」、「计划」、「策略」、「前景」、「估计」、「项目」、「目标」、「预计」、「应」、「看」、「指导」、「展望」、「自信」等相似含义的字词来识别。然而，缺乏这类字词、表达或陈述并不意味著这些陈述不是前瞻性。具体而言，涉及未来收入、现金流量、营运结果、现金使用、税率和其他财务表现度量、未来行动、情况或事件、Dt Midstream 的潜在未来计划、策略或交易，以及其他非历史事实的明示或暗示陈述，均属前瞻性陈述。 前瞻性陈述并非对未来结果和条件的保证，而是受到多个假设、风险和不确定性的影响，这可能导致实际未来结果与考虑、预计、估计或编列的结果显著不同。许多因素可能影响 Dt Midstream 的前瞻性陈述，包括但不限于以下几点：一般经济条件的变化，包括利率上升及相关联邦储备政策的影响、潜在经济衰退，以及通胀对我们业务的影响；行业变化，包括整合的影响、替代能源来源、技术进步、基础设施限制和竞争变化；全球供应链中断；第三方运营商、加工商、运输商和收集者采取的行动；我们营运范围内 Expand Energy 和其他第三方预期生产的变化；天然气采集、传输、存储、运输和水务的需求；天然气对消费者的供应和价格与替代燃料和竞争燃料的价格比较；我们能否成功并及时实施我们的业务计划；我们能否按时按预算完成有机增长项目；我们能否融资、完成或成功整合收购；债务和股权融资的价格和可用性；我们现有和任何未来信贷机构和授权国家的限制；我们信息技术和操作技术系统的效力和实践是否足以检测和抵御对美国关键基础设施进行进化攻击的威胁；关于网络安全和数据隐私的法律变化，以及任何网络安全威胁或事件；营运危险、环境风险以及与采集、储存和运输天然气相关的其他风险；地质和油藏风险和考虑；自然灾害、不利天气状况、灾害损失和其他我们无法控制的事项；疾病、流行病和大流行病爆发的影响以及任何相关的经济效应；地缘政治事件的影响，包括乌克兰和中东的冲突；劳资关系和市场，包括吸引、雇用和留住关键员工和合同人员的能力；大客户违约；税务地位的变化，以及税率和法规的变化；与现行和未来法律及政府法规遵循的效应及相关成本，如通胀削减法；环境法规或执行政策的变化，包括有关气候变化和温室气体排放的法律和法规；能否发展低碳业务机会并部署减排技术；影响成本和可用覆盖范围的保险市场变化；商品价格变化的时间和程度；我们风险管理策略的成功；我们客户在商业协议中中止、减少或终止责任的影响；由于我们设施、或我们业务依赖的第三方设施的设备中断或故障，而引起的中断；未来诉讼的影响；以及我们在每年截至 2023 年 12 月 31 日的年度报告 Form 10-k 及不时向美国证券交易委员会提交的报告和注册声明中描述的风险。 上述因素列表并非详尽。不时会出现新因素。我们无法预测可能出现的因素，以及这些因素可能如何导致实际结果与前瞻性陈述中所述的大幅不同，请查看我们提交给美国证券交易委员会的 Form 10-k 年度报告中标题为『风险因素』的部分以了解详情。 任何前瞻性陈述仅于发表该陈述之日起生效。我们无须且明确放弃对我们前瞻性陈述的更新或更改的义务，无论是基于新信息、后续事件或其他原因。 Dt Midstream 2

2024年第三季度成就 强劲的财务表现 2024年第三季度净利润为8800万美元，调整后的EBITDA1为24100万美元 将2024年调整后的EBITDA指南区间提高至950 - 98000万美元 对2025年调整后的EBITDA初步展望为980 - 104000万美元有信心 费奇评级提升为投资等级 成功的商业发展活动 达成第4阶段LEAP扩张项目200 MMcf/d的FID，将使整个系统容量增至2.1 Bcf/d 将我们的Stonewall系统与Mountain Valley Pipeline之间的互联扩大 推进与资料中心相关的机会讨论 持续推进能源过渡平台 为清洁燃料收集项目进行初步的施工 路易斯安那州CCS项目的详细工程持续进行；等待路易斯安那州政府的第六级井许可要求 中游 1. 调整后的EBITDA（非GAAP）定义和调解，请参见附录 3

DTM Provides a Distinctive Investment Opportunity Premium, high-quality attributes compared to other gas-focused peers Leading Organic Growth 5-7% long-term growth rate self-funded and fully supported by ~$1.3B organic project backlog Leading Portfolio Mix 100% natural gas focus with no marketing or commodity exposure Premier Geographic Presence Projects in top tier markets and basins positioned to capitalize on LNG and power demand growth Durable Contracting ~90% demand-based contracts1 providing resilient cash flow with ~9-year average2 contract tenor Strong Credit Profile Investment grade rated by Fitch with ~85% investment grade customers EBITDA CAGR 2021-2023 9% DTM 3% Gas-Focused Peers3 Dividend CAGR 2021-2023 7% DTM 3% Gas-Focused Peers3 Highest Pipeline Contribution in Section4 Adjusted EBITDA5 Pipeline 65% Gathering 35% DT Midstream 1. Represents % of 2023 revenue contribution comprised of demand, MVC or flowing gas/proved developed producing reserves 2. Overall portfolio weighted average contract tenor as of 12/31/2023 3. Average of gas-focused peers include WMB, KMI, AM 4. Based on Q4 2023 adjusted EBITDA; US-based midstream peers (AM, ENLC, ETRN, EPD, KMI, MPLX, OKE, TRGP, WES, WMB) 5. Definition and reconciliation of adjusted EBITDA (non-GAAP) to net income included in this appendix 4

Third Quarter 2024 Financial Results Adjusted EBITDA1 (millions) xx segment % of total $248 $153 $95 Q2 2024 62% 38% $241 $156 $85 Q3 2024 65% 35% Pipeline Gathering Pipeline2 Full-quarter impact of LEAP Phase 3 expansion in Q3 Gathering Results in-line when adjusting for favorable one-time items of ~$10 million in Q2 not repeating in Q3 DT Midstream 1. Definition and reconciliation of Adjusted EBITDA (non-GAAP) to net income included in the appendix 2. The terminology and asset categorization used here are for accounting purposes only and do not reflect on the jurisdictional status of any particular asset 5

LEAP Phase 4 expansion will increase capacity to 2.1 Bcf/d Haynesville System to provide additional 0.2 Bcf/d of wellhead to Gulf Coast markets access Capital efficient, lower-risk expansion provides timely access to coming LNG demand Project will provide ~0.2 Bcf/d incremental LEAP capacity, increasing capacity from 1.9 Bcf/d to 2.1 Bcf/d Project entails incremental compression and looping Expansion is underpinned by new long-term, demand-based contracts with two new LEAP customers Project expected to be in-service 1H 2026 Continuing discussions for additional expansions LEAP can be further expanded to serve growing Gulf Coast LNG and industrial corridor demand Haynesville System offers leading wellhead-to-water connectivity Texas Gillis Hub LNG Corridor Lake Charles LNG Driftwood LNG Cameron LNG CP2 Calcasieu Pass Sabine Pass LNG Port Arthur Golden Pass LNG Delfin LNG Henry Hub Plaquemines DTM assets DTM treating plants Electric compression Acreage dedication LNG facilities Operational Under development LEAP Phase 4 Expansion +200 MMcf/d LEAP capacity (Bcf/d) In-service Original 1.0 Phase 1 expansion 0.3 Aug. 2023 Phase 2 expansion 0.4 Jan. 2024 Phase 3 expansion 0.2 Jun. 2024 Phase 4 expansion 0.2 1H 2026 Total 2.1 Expansion potential ~4 DT Midstream BP(2) and Sabine WA tenor of 8.2 yrs 6

Upsizing Strategic Appalachian Basin Interconnect Expansion increases interconnect capacity and access to growing Mid-Atlantic market NEXUS Pipeline Access to Midwest Markets Ohio West Virginia Mountain Vallely Pipeline MVP Interconnect Third-party processing plant Third-party pipeline Pennsylvania West Virginia Appalachia Gathering System Stonewall Gas Gathering Access to Mid-Atlantic Markets New agreement expanding Mountain Valley Pipeline (MVP) interconnect Increases outlet capacity on Stonewall by 100 MMcf/d Expected to be in-service 1H 2026 Strong commercial structure with new customer Anchored by a long-term contract with a large privately held producer Demand-based contract protects project economics DT Midstream 7

Upgraded to Investment Grade by Fitch Ratings Reduction in DTM debt strengthens balance sheet and extends runway to next maturity Debt maturity profile (billions) Undrawn revolver capacity Long-term debt No maturities for 5 years $1.0 $1.1 $1.0 $0.6 2024 2025 2026 2027 2028 2029 2030 2031 2032 Investment grade Fitch BBB- long-term issuer default rating Positive outlook Moody's rating 2.8x / 3.7x on-balance sheet2 / proportional leverage 1.3x reduction in on-balance sheet leverage since 2021 DT Midstream 1. As of 9/30/2024 2. Represents on-balance sheet net debt/TTM EBITDA as of 9/30/2024 1.3x reduction based on 4.1x net leverage ratio at Sept. 30, 2021 8

Guidance Updates Reflect Strong Year-to-Date Performance Increasing 2024 Adjusted EBITDA, Operating Earnings, Operating EPS and Distributable Cash Flow guidance 2024 2025 (millions, except EPS) Adjusted EBITDA1 Operating Earnings2 Operating EPS2 Distributable Cash Flow3 Capital Expenditures Growth Capital4 Maintenance Capital Adjusted EBITDA (early outlook) Prior Guidance $930 - $980 $335 - $375 $3.43 - $3.83 $640 - $700 $360 - $415 $330 - $375 $30 - $40 $980 - $1,040 Updated Guidance $950 - $980 $345 - $375 $3.53 - $3.83 $670 - $700 $360 - $390 $330 - $350 $30 - $40 $980 - $1,040 Strong performance in first three quarters; incremental maintenance expected in Q4 Lower interest and income tax expenses EBITDA performance and lower interest and cash taxes Optimizing timing of cash flow for capital projects DT Midstream 1. Definition and reconciliation of Adjusted EBITDA (non-GAAP) to net income included in the appendix 2. Definition and reconciliation of Operating Earnings and Operating Earnings per Share (non-GAAP) to reported earnings included in the appendix; EPS calculation based on average share count of approximately 98 million shares outstanding - diluted 3. Definition and reconciliation of Distributable Cash Flow (non-GAAP) to net income included in the appendix 4. Includes contribution to equity method investees; guidance range is net of a ~$20 million customer contribution 9

Growth Investment Projects Continue to advance and deliver on short-cycle growth investments Pipeline Gathering Project Haynesville LEAP expansion - Phase 4 Stonewall to Mountain Valley Pipeline (MVP) expansion (Upsized) Appalachia Tioga Gathering expansion Appalachia Gathering System expansion - Phase 3 Haynesville Blue Union well pad expansion Haynesville Blue Union new producer expansions Clean Fuels Gathering Expected in-service dates 1H 2026 1H 2026 Q2 2025 Q2 2025 - 1H 2026 Q2 2025 Q2 2025 2H 2025 In-flight project updates Reached FID on LEAP Phase 4 expansion Executed agreement to increase capacity of Stonewall to MVP interconnect Clean fuels gathering buildout underway All growth investments on track and on budget DT Midstream 10

Disciplined Capital Investment Strong organic origination is solidifying our 2025 capital plan and is underpinning future growth Growth capex (millions) Cash flow after dividends ~$330 Committed Committed $330 - $350 2024 guidance1 New Commitments ~$310 Committed Pre-FID / Highly Probable 2025 Committed capital increase driven by new projects reaching FID: LEAP Phase 4 expansion Stonewall-MVP upsize Clean fuels gathering buildout Flexible, short-cycle, capital investments Capital investment program funded within free cash flow No change to 2024 committed capital Reducing top end of 2024 capital guidance range Increasing committed capital in 2025 to reflect new organic projects reaching FID DT Midstream 1. Guidance range is net of a ~$20 million customer contribution 11

Louisiana Carbon Capture and Sequestration Continuing pre-FID engineering - awaiting regulatory guidance from the State of Louisiana Project timeline Capital deployment Q4 2022 Q2 2023 1H 2024 Q4 2024 1H 2025 2H 2026 Minimizing capital spend until we reach a final investment decision Class VI well permit filing Conducted 3D seismic survey Class V test well permit filing Class V test well permit approved Drilled Class V test well Evaluated Class V test well results LA DENR Class VI permit requirements Current stage Final investment decision Expected Class VI well permit approval Expected Phase 1 project in-service Methodical project development approach Disciplined storage site selection and stakeholder engagement Proximity to CO2 source and favorable sequestration geology Early engagement of local community and Louisiana (LA) DENR1 on key development activities Continued progress toward FID with successful Class V test well Validated formation structure and completed injectivity tests Secured key storage rights Third party expert analysis of Class V test well completed; confirming formation suitability Continuing detailed engineering design of system Awaiting Class VI well permit requirements from LA DENR Leveraging over 50 years of storage and pipeline development and operations experience DT Midstream 1. Louisiana Department of Energy and Natural Resources 12

Quarterly Financial Results (millions, except EPS) Adjusted EBITDA1 Pipeline segment Gathering segment Operating Earnings2 Operating EPS2 Distributable Cash Flow3 Growth Capital4 Maintenance Capital Three months ended September 30, 2024 $241 $156 $85 $88 $0.90 $207 $80 $4 June 30, 2024 $248 $153 $95 $96 $0.98 $160 $745 $6 Key drivers Favorable one-time items in Q2 not repeating in Q3 Cash interest payment in Q2 DT Midstream 1. Definition and reconciliation of Adjusted EBITDA (non-GAAP) to net income included in the appendix 2. Definition and reconciliation of Operating Earnings and Operating Earnings per Share (non-GAAP) to reported earnings included in the appendix; EPS calculation based on average share count of approximately 98 million shares outstanding - diluted 3. Definition and reconciliation of Distributable Cash Flow (non-GAAP) included in the appendix 4. Includes contribution to equity method investees 5. Growth capital reflects DT Midstream capital spend of $75 million less cash contribution from customers of ~$1 million in Q2 2024 13

DT Midstream Investment Thesis DT Midstream Pure play natural gas midstream portfolio Premium shareholder returns Strong organic growth Balance sheet strength DT Midstream 14

Appendix DT Midstream 15

Gathering Volume Summary Resilient volume performance throughout 2024 Haynesville throughput (bcf/d) Blue Union Gathering 1.60 Q3 2023 1.56 Q4 2023 1.52 Q1 2024 1.50 Q2 2024 1.51 Q3 2024 Northeast throughput (bcf/d) 1.39 Q3 2023 Susquehanna Gathering 1.53 Q4 2023 Appalachia Gathering 1.54 Q1 2024 Tioga Gathering 1.43 Q2 2024 Ohio Utica Gathering 1.37 Q3 2024 DT Midstream 16

Continuing Our Track Record of Distinctive Growth Targeting long-term Adjusted EBITDA growth of 5-7% Adjusted EBITDA1 (millions) $930 - $980 2024 original guidance +6% $980 - $1,040 2025 early outlook 5-7% long-term growth rate Differentiated growth drivers $1.3 billion organic growth project backlog Tangible energy transition projects Fully funded with long-term, contract-backed free cash flows No marketing or commodity exposure DT Midstream 1. Definition and reconciliation of Adjusted EBITDA (non-GAAP) to net income included in this appendix 17

Strong Long-term Production Outlook in Both Basin Haynesville and Appalachia production are expected to experience significant growth over the next decade Historical production (bcf/d) Haynesville Appalachia DUC inventory1 Haynesville Appalachia 412 630 662 840 764 810 803 752 Production forecast (bcf/d) 49 15 34 2023 Haynesville +18 bcf/d Appalachia 67 27 40 2023 DT Midstream 1. Drilled but uncompleted (DUC) wells data reflects EIA publication released October 8, 2024 Sources: EIA, S+P Global Commodity Insights, and Wood Mackenzie North America Gas Investment Horizon Outlook - October 2023 18

Joint Venture Debt Details Annual debt paydown at Millennium and Vector Asset (DTM ownership %) NEXUS Pipeline (50%) Millennium Pipeline (52.5%) Total Millennium Vector Pipeline(40%) Prior Year 2024 Issuance DTM proportionate share End of year debt balances 2023 $371 $144 - $144 $31 2024 $371 $129 $420 $549 $29 2025 $371 $114 $420 $534 $26 Interest expense 2023 $14 $13 - $13 $2 2024 $21 $11 $7 $18 $2 2025 $21 $9 $25 $34 $2 Weighted average interest rate 5.68%1 5.80%1 5.88%2 6.11%1 Maturity Bullets, 2028 through 2035 Fully amortized by 2032 Bullets, 2029 through 2036 Fully amortized by 2034 DT Midstream 1. Weighted average interest rate as of December 31, 2023 2. Weighted average interest rate as of September 30, 2024 19

Non-GAAP Definitions Adjusted EBITDA and Distributable Cash Flow (DCF) are non-GAAP measures Adjusted EBITDA is defined as GAAP net income attributable to DT Midstream before expenses for interest, taxes, depreciation and amortization, and loss from financing activities, further adjusted to include our proportional share of net income from our equity method investees (excluding interest, taxes, depreciation and amortization), and to exclude certain items we consider non-routine. We believe Adjusted EBITDA is useful to us and external users of our financial statements in understanding our operating results and the ongoing performance of our underlying business because it allows our management and investors to have a better understanding of our actual operating performance unaffected by the impact of interest, taxes, depreciation, amortization and non-routine charges noted in the table below. We believe the presentation of Adjusted EBITDA is meaningful to investors because it is frequently used by analysts, investors and other interested parties in our industry to evaluate a company's operating performance without regard to items excluded from the calculation of such measure, which can vary substantially from company to company depending on accounting methods, book value of assets, capital structure and the method by which assets were acquired, among other factors. We use Adjusted EBITDA to assess our performance by reportable segment and as a basis for strategic planning and forecasting. Distributable Cash Flow (DCF) is calculated by deducting earnings from equity method investees, depreciation and amortization attributable to noncontrolling interests, cash interest expense, maintenance capital investment (as defined below), and cash taxes from, and adding interest expense, income tax expense, depreciation and amortization, certain items we consider non-routine and dividends and distributions from equity method investees to, Net Income Attributable to DT Midstream. Maintenance capital investment is defined as the total capital expenditures used to maintain or preserve assets or fulfill contractual obligations that do not generate incremental earnings. We believe DCF is a meaningful performance measurement because it is useful to us and external users of our financial statements in estimating the ability of our assets to generate cash earnings after servicing our debt, paying cash taxes and making maintenance capital investments, which could be used for discretionary purposes such as common stock dividends, retirement of debt or expansion capital expenditures. Adjusted EBITDA and DCF are not measures calculated in accordance with GAAP and should be viewed as a supplement to and not a substitute for the results of operations presented in accordance with GAAP. There are significant limitations to using Adjusted EBITDA and DCF as a measure of performance, including the inability to analyze the effect of certain recurring and non-recurring items that materially affect our net income or loss. Additionally, because Adjusted EBITDA and DCF exclude some, but not all, items that affect net income and are defined differently by different companies in our industry, Adjusted EBITDA and DCF do not intend to represent net income attributable to DT Midstream, the most comparable GAAP measure, as an indicator of operating performance and are not necessarily comparable to similarly titled measures reported by other companies. Reconciliation of net income attributable to DT Midstream to Adjusted EBITDA or DCF as projected for full-year 2024 or 2025 is not provided. We do not forecast net income as we cannot, without unreasonable efforts, estimate or predict with certainty the components of net income. These components, net of tax, may include, but are not limited to, impairments of assets and other charges, divestiture costs, acquisition costs, or changes in accounting principles. All of these components could significantly impact such financial measures. At this time, management is not able to estimate the aggregate impact, if any, of these items on future period reported earnings. Accordingly, we are not able to provide a corresponding GAAP equivalent for Adjusted EBITDA or DCF. DT Midstream 20

Non-GAAP Definitions Operating Earnings and Operating Earnings per share are non-GAAP measures Use of Operating Earnings Information - Operating Earnings exclude non-recurring items, certain mark-to-market adjustments and discontinued operations. DT Midstream management believes that Operating Earnings provide a more meaningful representation of the company's earnings from ongoing operations and uses Operating Earnings as the primary performance measurement for external communications with analysts and investors. Internally, DT Midstream uses Operating Earnings to measure performance against budget and to report to the Board of Directors. In this presentation, DT Midstream provides guidance for future period Operating Earnings. It is likely that certain items that impact the company's future period reported results will be excluded from operating results. A reconciliation to the comparable future period reported earnings is not provided because it is not possible to provide a reliable forecast of specific line items (i.e., future non-recurring items, certain mark-to-market adjustments and discontinued operations). These items may fluctuate significantly from period to period and may have a significant impact on reported earnings. DT Midstream 21

Non-GAAP Reconciliations Reconciliation of Reported to Operating Earnings - DT Midstream Consolidated Adjustments Net Income Attributable to DT Midstream Adjustments Net Income Attributable to DT Midstream Three Months Ended (millions) September 30, 2024 Reported Earnings $88 Pre-tax Adjustments $- Income Taxes (1) $- Operating Earnings $88 June 30, 2024 Reported Earnings $96 Pre-tax Adjustments $- Income Taxes (1) $- Operating Earnings $96 Nine Months Ended September 30, 2024 (millions) Reported Earnings $281 Pre-tax Adjustments $- Income Taxes (1) $- Operating Earnings $281 September 30, 2023 Reported Earnings $263 Pre-tax Adjustments $- Income Taxes (1) $- Operating Earnings $263 Excluding tax related adjustments, the amount of income taxes was calculated based on a combined federal and state income tax rate, considering the applicable jurisdictions of the respective segments and deductibility of specific operating adjustments DT Midstream 22

Non-GAAP Reconciliations Reconciliation of Reported to Operating Earnings per diluted share(2) - DT Midstream Consolidated Three Months Ended September 30, 2024 June 30, 2024 Reported Earnings Pre-tax Adjustments Income Taxes(1) Operating Earnings Reported Earnings Pre-tax Adjustments Income Taxes(1) Operating Earnings (per share) Adjustments $- $- $- $- Net Income Attributable to DT Midstream $0.90 $- $- $0.90 $0.98 $- $- $0.98 Nine Months Ended September 30, 2024 September 30, 2023 Reported Earnings Pre-tax Adjustments Income Taxes(1) Operating Earnings Reported Earnings Pre-tax Adjustments Income Taxes(1) Operating Earnings (per share) Adjustments $- $- $- $- Net Income Attributable to DT Midstream $2.87 $- $- $2.87 $2.70 $- $- $2.70 (1) Excluding tax related adjustments, the amount of income taxes was calculated based on a combined federal and state income tax rate, considering the applicable jurisdictions of the respective segments and deductibility of specific operating adjustments (2) Per share amounts are divided by Weighted Average Common Shares Outstanding - Diluted, as noted on the Consolidated Statements of Operations DT Midstream 23

Non-GAAP Reconciliations Reconciliation of Net Income Attributable to DT Midstream to Adjusted EBITDA Three Months Ended Nine Months Ended September 30, 2024 June 30, 2024 September 30, 2024 September 30, 2023 Consolidated (millions) Net Income Attributable to DT Midstream $88 $96 $281 $263 Plus: Interest expense 38 39 117 111 Plus: Income tax expense 30 33 94 102 Plus: Depreciation and amortization 53 53 156 133 Plus: Loss from financing activities 4 - 4 - Plus: EBITDA from equity method investees (1) 70 67 212 212 Less: Interest income (1) - (2) (1) Less: Earnings from equity method investees (40) (39) (125) (132) Less: Depreciation and amortization attributable to noncontrolling interests (1) (1) (3) (3) Adjusted EBITDA $241 $248 $734 $685 (1) Includes share of our equity method investees' earnings before interest, taxes, depreciation and amortization, which we refer to as "EBITDA." A reconciliation of earnings from equity method investees to EBITDA from equity method investees follows: Three Months Ended Nine Months Ended September 30, 2024 June 30, 2024 September 30, 2024 September 30, 2023 (millions) Earnings from equity methods investees $40 $39 $125 $132 Plus: Depreciation and amortization attributable to equity method investees 20 21 61 61 Plus: Interest expense attributable to equity method investees 10 7 26 19 EBITDA from equity method investees $70 $67 $212 $212 DT Midstream 24

Non-GAAP Reconciliations Reconciliation of Net Income Attributable to DT Midstream to Adjusted EBITDA Pipeline Segment Three Months Ended Nine Months Ended September 30, 2024 June 30, 2024 September 30, 2024 September 30, 2023 Pipeline (millions) Net Income Attributable to DT Midstream $71 $71 $216 $185 Plus: Interest expense 12 12 37 42 Plus: Income tax expense 24 24 72 72 Plus: Depreciation and amortization 18 19 55 50 Plus: Loss from financing activities 2 - 2 - Plus: EBITDA from equity method investees (1) 70 67 212 212 Less: Interest income - - (1) (1) Less: Earnings from equity method investees (40) (39) (125) (132) Less: Depreciation and amortization attributable to noncontrolling interests (1) (1) (3) (3) Adjusted EBITDA $156 $153 $465 $425 (1) Includes share of our equity method investees' earnings before interest, taxes, depreciation and amortization, which we refer to as "EBITDA." A reconciliation of earnings from equity method investees to EBITDA from equity method investees follows: Three Months Ended Nine Months Ended September 30, 2024 June 30, 2024 September 30, 2024 September 30, 2023 (millions) Earnings from equity methods investees $40 $39 $125 $132 Plus: Depreciation and amortization attributable to equity method investees 20 21 61 61 Plus: Interest expense attributable to equity method investees 10 7 26 19 EBITDA from equity method investees $70 $67 $212 $212 DT Midstream 25

Non-GAAP Reconciliations Reconciliation of Net Income Attributable to DT Midstream to Adjusted EBITDA Gathering Segment Three Months Ended Nine Months Ended September 30, 2024 June 30, 2024 September 30, 2024 September 30, 2023 Gathering (millions) Net Income Attributable to DT Midstream $17 $25 $65 $78 Plus: Interest expense 26 27 80 69 Plus: Income tax expense 6 9 22 30 Plus: Depreciation and amortization 35 34 101 83 Plus: Loss from financing activities 2 - 2 - Less: Interest income (1) - (1) - Adjusted EBITDA $85 $95 $269 $260 DT Midstream 26

Non-GAAP Reconciliations Reconciliation of Net Income Attributable to DT Midstream to Distributable Cash Flow Three Months Ended Nine Months Ended September 30, 2024 June 30, 2024 September 30, 2024 September 30, 2023 Consolidated (millions) Net Income Attributable to DT Midstream $88 $96 $281 $263 Plus: Interest expense 38 39 117 111 Plus: Income tax expense 30 33 94 102 Plus: Depreciation and amortization 53 53 156 133 Plus: Loss from financing activities 4 - 4 - Plus: Adjustments for non-routine items (1) (416) - (416) (371) Less: Earnings from equity method investees (40) (39) (125) (132) Less: Depreciation and amortization attributable to noncontrolling interests (1) (1) (3) (3) Plus: Dividends and distributions from equity method investees 465 50 590 557 Less: Cash interest expense (6) (64) (80) (76) Less: Cash taxes (4) (1) (7) (21) Less: Maintenance capital investment (2) (4) (6) (17) (22) Distributable Cash Flow $207 $160 $594 $541 (1) Distributable Cash Flow calculation excludes certain items we consider non-routine. For the three and nine months ended September 30, 2024, adjustments for non-routine items included the $416 million Millennium financing distribution. For the nine months ended September 30, 2023, adjustments for non-routine items included the $371 million NEXUS financing distribution. (2) Maintenance capital investment is defined as the total capital expenditures used to maintain or preserve assets or fulfill contractual obligations that do not generate incremental earnings. DT Midstream 27