BUSINESS STRATEGY ABOUT US OUR ASSETS NEWS CONTACT US AZURE MIDSTREAM STORY In November 2013, Azure Midstream, an Energy Spectrum backed management team, closed simultaneously on the acquisition of TGGT Holdings (a midstream JV between EXCO and Shell) and Tenaska’s East Texas Gathering. The new combined company, Azure Midstream Energy, LLC (“AME”), operated: the Legacy System in Harrison and Panola Counties, the Holly System in Caddo, DeSoto and Red River Parishes, and the combined Shelby/ETG System in Shelby, San Augustine, Nacogdoches and Angelina Counties. In February 2015, AME closed on a reverse merger with Marlin Midstream, LLC. By contributing the Legacy System, and subsequently the ETG System to the newly formed public partnership, AME continued to hold a set of private assets generating more than $70 million in annual EBITDA (2016) as potential dropdown inventory for the partnership. After months of declining gas prices, in early 2016, Azure Midstream Partners, LP (“AMP”), the public partnership, suffered a contractual default from its largest customer that severely impaired the company’s cash flow. This – in turn – drove the partnership out of compliance with its bank covenants, and ultimately led to the a 363 sale of all of the assets to Enterprise Products in 2017 (more information here from Chip on that sale process). The AME assets in Holly and Shelby are in the center of the Haynesville renaissance and the new activity helped the assets gain momentum in late 2017 (as seen here). During 2017, Azure connected 14 horizontal Haynesville & Cotton Valley wells. With 11 new wells connected in Q1 2018, combined with our fully contracted and scheduled set of new wells coming online for the remainder of 2018, total throughput for Holly and Shelby will exceed 500 mmscfd. As we approach 2019, management will be exploring strategic alternatives, specifically the potential sale of Azure. Management Team Mission And Values Safety Historical Trends Azure Midstream Story Board Of Directors Ownership Structure © Copyright 2018 Azure Midstream Energy LLC. All Rights Reserved.

ABOUT US OUR ASSETS NEWS CONTACT US HISTORICAL TRENDS Azure Midstream has made impressive strides in reducing operating expenses while maintaining high safety standards. Holly OPEX Holly Operations Runtime Holly Volumes (mcfd) Shelby OPEX Shelby Operations Runtime Shelby Volumes (mcfd) President'S Update Management Team Mission And Values Board Of Directors Ownership Structure Corporate Milestones © Copyright 2018 Azure Midstream Energy LLC. All Rights Reserved.