EQT Midstream Partners Announces Pricing of Public Offering of Common Units

  EQT Midstream Partners Announces Pricing of Public Offering of Common Units

Business Wire

PITTSBURGH -- July 16, 2013

EQT Midstream Partners, LP (NYSE: EQM), an EQT Corporation company, announced
today the pricing of 11,000,000 common units representing limited partner
interests at $43.50 per common unit. EQT Midstream Partners, LP (Partnership)
has granted the underwriters a 30-day option to purchase up to an additional
1,650,000 common units.

The Partnership intends to use the net proceeds from the offering to fund a
portion of the cash distribution to be made to EQT Corporation in connection
with the Partnership’s previously announced acquisition of Sunrise Pipeline,
LLC (Sunrise).

The Partnership intends to use the net proceeds from the underwriters’
exercise of their option to purchase additional common units, if any,
including any proportionate capital contribution from the Partnership’s
general partner to maintain its 2% general partner interest in the
Partnership, for general partnership purposes.

Citigroup, BofA Merrill Lynch, Barclays, Credit Suisse, Deutsche Bank
Securities, Goldman, Sachs & Co., J.P. Morgan, RBC Capital Markets, and Wells
Fargo Securities are acting as joint book-running managers for the offering.
PNC Capital Markets LLC, Mitsubishi UFJ Securities, SunTrust Robinson
Humphrey, The Huntington Investment Company and Global Hunter Securities are
acting as co-managers for the offering. Copies of the preliminary prospectus
supplement, prospectus supplement and accompanying base prospectus relating to
the offering may be obtained, free of charge, on the Securities and Exchange
Commission’s website at www.sec.gov or from the underwriters of the offering
as follows:

    Citigroup                             BofA Merrill Lynch
        c/o Broadridge Financial                  Attn: Prospectus Department
        Solutions
        1155 Long Island Avenue                   222 Broadway
        Edgewood, NY 11717                        New York, NY 10038
        Telephone: 1-800-831-9146                 dg.prospectus_requests@baml.com
        batprospectusdept@citi.com
                                                  
        Barclays                                  Credit Suisse
        c/o Broadridge Financial                  Attn: Prospectus Department
        Solutions
        1155 Long Island Avenue                   One Madison Avenue
        Edgewood, NY 11717                        New York, NY 10010
        barclaysprospectus@broadridge.com         atnewyork.prospectus@credit-suisse.com
        Telephone: 1-888-603-5847                 Telephone: 1-800-221-1037
                                                  
        Deutsche Bank Securities                  Goldman, Sachs & Co.
        Attn: Prospectus Group                    Attn: Prospectus Department
        60 Wall Street                            200 West Street
        New York, NY 10005-2836                   New York, NY 10282
        prospectus.CPDG@db.com                    prospectus-ny@ny.email.gs.com
        Telephone: 800-503-4611                   Telephone: 866-471-2526
                                                  
        J.P. Morgan                               RBC Capital Markets
        c/o Broadridge Financial                  Attn: Equity Syndicate
        Solutions
        1155 Long Island Avenue                   Three World Financial Center
        Edgewood, NY 11717                        200 Vesey Street, 8th Floor
        Telephone: 1-888-803-9204                 New York, NY 10281
                                                  Telephone: 877-822-4089
                                                  
        Wells Fargo Securities
        Attn: Equity Syndicate Dept.
        375 Park Avenue
        New York, NY 10152
        cmclientsupport@wellsfargo.com
        Telephone: 800-326-5897
                                                  

This news release does not constitute an offer to sell or the solicitation of
an offer to buy the securities described herein, nor shall there be any sale
of these securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction. The offering is
being made only by means of a prospectus and related prospectus supplement
meeting the requirements of Section 10 of the Securities Act of 1933, as
amended.

About EQT Midstream Partners:
EQT Midstream Partners, LP is a growth-oriented limited partnership formed by
EQT Corporation to own, operate, acquire, and develop midstream assets in the
Appalachian basin. The Partnership provides midstream services to EQT
Corporation and third-party companies through two primary assets: the
Equitrans Transmission and Storage System and the Equitrans Gathering System.
The Partnership has a 700-mile, FERC-regulated interstate pipeline system and
more than 2,000 miles of FERC-regulated, low-pressure gathering lines.

Visit EQT Midstream Partners, LP at www.eqtmidstreampartners.com.

Cautionary Statements
Disclosures in this press release contain certain forward-looking statements.
Statements that do not relate strictly to historical or current facts are
forward-looking. Without limiting the generality of the foregoing,
forward-looking statements contained in this press release specifically
include the expectations of plans, strategies, objectives and growth of the
Partnership and its subsidiaries, including guidance regarding the number of
units to be sold in the offering, the Partnership’s expected use of proceeds
from the offering, the timing of the closing of the Sunrise acquisition. These
statements involve risks and uncertainties that could cause actual results to
differ materially from projected results. Accordingly, investors should not
place undue reliance on forward-looking statements as a prediction of actual
results. The Partnership has based these forward-looking statements on current
expectations and assumptions about future events. While the Partnership
considers these expectations and assumptions to be reasonable, they are
inherently subject to significant business, economic, competitive, regulatory
and other risks and uncertainties, most of which are difficult to predict and
many of which are beyond the Partnership’s control. The risks and
uncertainties that may affect the operations, performance and results of the
Partnership’s business and forward-looking statements include, but are not
limited to, those risks discussed in the Partnership’s most recent Annual
Report on Form 10-K, Quarterly Report on Form 10-Q and other filings with the
Securities and Exchange Commission. Any forward-looking statement speaks only
as of the date on which such statement is made and the Partnership does not
intend to correct or update any forward-looking statement, whether as a result
of new information, future events or otherwise.

Contact:

EQT Midstream Partners, LP
Analyst inquiries please contact:
Nate Tetlow, 412-553-5834
Investor Relations Manager
ntetlow@eqtmidstreampartners.com
or
Patrick Kane, 412-553-7833
Chief Investor Relations Officer
pkane@eqtmidstreampartners.com
or
Media inquiries please contact:
Natalie Cox, 412-395-3941
Corporate Director, Communications
ncox@eqtmidstreampartners.com
 
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