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• Ryder for natural gas compression equipment.
• United Rentals for the natural gas industry.

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• Contract Compression Services: Archrock provides natural gas compression equipment and full operational services to customers under long-term contracts in the field.
• Aftermarket Services: The company offers a range of services including parts sales, maintenance, and repair for customer-owned natural gas compression equipment.

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Archrock (AROC) Major Customers

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• Caterpillar Inc. (NYSE: CAT)
• Ariel Corporation
• INNIO Group (Waukesha engines)

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D. Bradley Childers, President and Chief Executive Officer

Mr. Childers has served as President and Chief Executive Officer of Archrock since December 2011, having previously been Interim President and Chief Executive Officer since November 2011. He also held the role of President, Chief Executive Officer, and Chairman of the Board of Archrock GP LLC, the managing general partner of Archrock Partners, L.P., until its merger into a wholly-owned subsidiary of Archrock, Inc. in April 2018. Prior to his CEO role at Archrock, he was President, North America of Exterran Energy Solutions, L.P., a predecessor subsidiary, and Senior Vice President of Archrock from August 2007 through November 2011. He joined Universal Compression Holdings, Inc., another predecessor company, in 2002, holding various management positions, including Senior Vice President and President of the International Division of Universal Compression, Inc. Mr. Childers also held positions with Occidental Petroleum Corporation and its subsidiaries from 1994 to 2002. As CEO of Exterran Holdings Inc., a predecessor company, he led the company through significant challenges, including debt, low stock price, and losses, focusing on cost-cutting and improving efficiency.

Doug S. Aron, Senior Vice President and Chief Financial Officer

Mr. Aron has served as Senior Vice President and Chief Financial Officer of Archrock since August 2018. Before joining Archrock, he was Executive Vice President and Chief Financial Officer of HollyFrontier Corporation, an independent petroleum refiner, from July 2011 to March 2017. Prior to HollyFrontier's merger with Holly Corporation in July 2011, Mr. Aron served Frontier Oil Corporation as Executive Vice President and Chief Financial Officer from January 2009, as Vice President of Corporate Finance from May 2005 to December 2008, and as Director of Investor Relations from March 2001 to May 2005. He also served as Executive Vice President and Chief Financial Officer of Nine Energy Service, Inc. during 2017, as the company was preparing to go public. Before his time at Frontier, Mr. Aron was a lending officer for Amegy Bank.

Stephanie C. Hildebrandt, Senior Vice President, General Counsel and Secretary

Ms. Hildebrandt has served as Senior Vice President, General Counsel, and Secretary of Archrock since August 2017. She plays a key role in the company's legal and governance matters.

Jason G. Ingersoll, Senior Vice President, Sales and Ops Support

Mr. Ingersoll has served as Senior Vice President, Sales and Ops Support since June 2020. Prior to this, he held roles as Senior Vice President, Marketing and Sales from February 2018 to June 2020, and Vice President, Marketing and Sales from November 2015 to February 2018 at Archrock. He also served as Vice President, Sales for Exterran Energy Solutions, L.P., a predecessor subsidiary, from October 2013 to November 2015, holding various positions of increasing responsibility since March 2009.

Eric W. Thode, Senior Vice President, Operations

Mr. Thode has served as Senior Vice President, Operations since February 2020. His previous roles at Archrock include Vice President, Operations from October 2018, Vice President of the South Texas Business Unit, and Director of the South Texas Business Unit from December 2014 to July 2018. He also served as Director of the Barnett Business Unit from June 2012 to December 2014 and Director, Business Development. Mr. Thode has worked with Archrock and its predecessor subsidiaries, Exterran Energy Services, L.P. and Universal Compression, Inc., since 2004. Before joining the company, he worked at Enron Corporation as Director, Public Relations from 1999 to 2004 and at TEPPCO Partners as Manager, Government and Public Affairs from 1991 to 1999.

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The key risks to Archrock's business (AROC) are primarily linked to its deep ties to the natural gas industry, the evolving regulatory landscape, and its reliance on key suppliers for essential equipment.

1. Market Dependence and Volatility in the Natural Gas Industry: Archrock's business is highly dependent on the natural gas industry, making it vulnerable to fluctuations in natural gas prices and demand. A sustained decrease in either could significantly impact the company's operations and financial performance.
2. Regulatory Changes and Environmental Policies: Changes in environmental regulations, including climate-related and environmental, social, and governance (ESG) risks, could increase compliance costs, limit operational capabilities, or reduce the long-term demand for natural gas compression services as renewable energy adoption accelerates.
3. Dependence on Key Suppliers and Supply Chain Disruptions: Archrock relies on specific Original Equipment Manufacturers (OEMs) for specialized, high-horsepower compressor units. Long lead times for critical components, such as compressor engines (currently around 60 weeks for Caterpillar engines), create vulnerability to product shortages, price increases, and potential delays in delivering services, especially given Archrock's growth plans.

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• Accelerating energy transition and decarbonization efforts leading to declining long-term demand for natural gas: Governed by global and national policies (e.g., the Inflation Reduction Act), increasing corporate ESG commitments, and significant investments in renewable energy infrastructure, there is a clear trend towards reducing reliance on fossil fuels, including natural gas. This could result in a structural decline in natural gas production and consumption over time, directly impacting the demand for Archrock's natural gas compression services.
• Rapid adoption and preference for electric-driven natural gas compression: Driven by customer demands for lower Scope 1 and Scope 2 emissions and stricter environmental regulations (particularly concerning methane), there is an emerging trend favoring electric-driven compression units over traditional natural gas-fueled engines. A significant and rapid shift in market preference could render a substantial portion of Archrock's existing gas-powered fleet less competitive or obsolete, necessitating considerable capital investment for fleet modernization or potentially leading to market share erosion.

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Archrock (AROC) is expected to drive future revenue growth over the next 2-3 years through a combination of increased demand for natural gas compression services, strategic fleet expansion and utilization, pricing power within its contract operations, and the continued growth of its aftermarket services.

1. Strong and Durable Demand for Natural Gas Compression: Archrock anticipates robust long-term demand for its compression equipment, fueled by several macro trends. These include significant growth in U.S. liquefied natural gas (LNG) exports, increasing natural gas requirements for power generation, and the emerging demand for AI-driven data centers. The company is strategically positioned to capitalize on these trends with its compression infrastructure solutions across major U.S. basins. Management has indicated that the U.S. natural gas infrastructure build-out supporting strong performance is expected to continue into 2026 and beyond.
2. Expansion and High Utilization of Compression Fleet: Archrock has demonstrated a consistent focus on growing its contract compression operating fleet through organic investments in new horsepower and strategic acquisitions. The company has maintained an all-time high equipment utilization rate, reaching 96%. This high utilization, coupled with ongoing investments, allows Archrock to meet robust customer demand and expand its revenue-generating asset base.
3. Pricing Power and Favorable Long-Term Contracts: Archrock has successfully implemented sequential price increases in its monthly revenue per horsepower over several consecutive quarters, indicating strong pricing power within the market. The company benefits from multi-year, fee-based customer contracts, with the average contract duration exceeding six years. These long-term agreements provide predictable and stable revenue streams, minimizing volatility and ensuring consistent cash flow.
4. Growth in Aftermarket Services (AMS): The aftermarket services segment is a significant contributor to Archrock's revenue and is expected to grow. This growth is driven by high demand for maintenance and service work, supported by the company's extensive base of owned compression equipment. Great customer service in this segment is also leading to repeat business, further bolstering revenue.
5. Strategic Acquisitions and Synergies: Archrock's strategic acquisition of Total Operations and Production Services, LLC (TOPS) in the third quarter of 2024 (closed in August 2024) is a key driver for future revenue growth. This acquisition has significantly enhanced Archrock's leadership in electric motor drive compression and broadened its customer base, particularly in the Permian region. The integration of TOPS is progressing well, with substantial operational and financial synergies anticipated to contribute to increased revenue and profitability.

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Share Repurchases

• Archrock returned $159.1 million to stockholders through dividends and share repurchases during the first three quarters of 2025, following $93.0 million in the first three quarters of 2024.
• On October 28, 2025, Archrock increased its share repurchase authorization by an additional $100 million, bringing the total program to $210.09 million and extending it until December 31, 2026.
• Through June 30, 2025, Archrock repurchased 2,719,315 common shares for an aggregate of $51.2 million under a program initially authorized in April 2023 and extended in subsequent years.

Share Issuance

• In July 2024, Archrock completed a public offering of approximately 12.7 million shares, generating net proceeds of $255.7 million, which were used to fund a portion of the TOPS Acquisition.
• Archrock issued approximately 6.87 million common shares to the sellers as part of the consideration for the Total Operations and Production Services, LLC (TOPS) acquisition, which closed on August 30, 2024.

Outbound Investments

• In August 2024, Archrock acquired Total Operations and Production Services, LLC (TOPS) for $983 million, adding approximately 580,000 compression horsepower and enhancing its presence in the Permian Basin and electric motor drive compression.
• Archrock acquired Natural Gas Compression Systems, Inc. (NGCS) in March 2025 for $357 million in a cash and stock transaction, which added about 351,000 horsepower and expanded its Permian Basin capacity and electric motor drive compression capabilities.
• Archrock was a lead investor in a Series A financing round for Ionada PLC, a carbon capture technology company, with the investment intended for research and development and field demonstration units.

Capital Expenditures

• Total capital expenditures were $359.032 million in 2024, $298.632 million in 2023, and $239.867 million in 2022.
• For 2025, Archrock expects total capital expenditures to be approximately $470 million to $535 million, with growth capital expenditures projected at $330 million to $370 million, primarily focused on new build horsepower for natural gas infrastructure.
• Archrock plans for 2026 growth capital expenditures to be no less than $250 million, emphasizing organic growth and expanding electric motor drive compression capabilities.