CONE Midstream Partners (CNNX) Increases Distribution and Announces Pending Conversion of Subordinated Units to Common Units

CONE Midstream Partners LP (NYSE: CNNX) (“CNNX” or the “Partnership”), today announced that the Board of Directors of its general partner, CONE Midstream GP LLC, has declared a cash distribution of $0.3025 per unit with respect to the third quarter of 2017. The distribution will be made on November 14, 2017 to unitholders of record as of the close of business on November 3, 2017. The distribution, which equates to an annual rate of $1.21 per unit, represents an increase of 3.5% over the prior quarter, and an increase of 15% over the distribution paid with respect to the third quarter of 2016.

CNNX also announced that the Board of Directors of its general partner has confirmed and approved that, upon the payment of the distribution with respect to the third quarter of 2017, the financial tests required for conversion of CNNX’s subordinated units will be met. Accordingly, CNNX’s 29,163,121 subordinated units will convert into common units on a one-for-one basis effective November 15, 2017, the first business day following the payment of the third-quarter distribution. The conversion of the subordinated units will not impact the amount of cash distributions paid by the Partnership.

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