HOUSTON, TX – May 8, 2025 – Baker Botts L.L.P., a leading international energy, technology, and life sciences law firm, announced that Hess Midstream LP (NYSE: HESM) has executed a definitive agreement for the repurchase of approximately $190 million of Class B units. The repurchase will be conducted by its subsidiary, Hess Midstream Operations LP, from affiliates of Hess Corporation and Global Infrastructure Partners, part of BlackRock, who are HESM’s sponsors.

The unit repurchase is anticipated to close on May 9, 2025. HESM expects to fund the unit repurchase with borrowings under its existing revolving credit facility.

The terms of the proposed unit repurchase transaction were unanimously approved by the Board of Directors of HESM’s general partner, based on the unanimous approval and recommendation of its conflicts committee composed solely of independent directors.

HESM also announced that it has entered into an accelerated share repurchase agreement with JPMorgan Chase Bank, National Association, to repurchase $10 million of HESM’s publicly traded Class A shares.

For more information, please see HESM’s press release by clicking here.

The deal was led by Senior Counsel Josh Davidson and included Special Counsel Lakshmi Ramanathan.

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