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1©2020 CSI Compressco LP

Bank of America2020 Leveraged Finance Conference

December 1, 2020


Forward Looking Statements & Non-GAAP Measures

Forward-Looking Statements:

This presentation includes certain statements that are or may be deemed to be forward-looking statements. Generally, the use of words such as “may,” “will,” “expect,” “intend,” “estimate,” “projects,”

“anticipate,” “believe,” “assume,” “could,” “should,” “plans,” “targets” or similar expressions that convey the uncertainty of future events, activities, expectations or outcomes identify forward-looking

statements that the company intends to be included within the safe harbor protections provided by the federal securities laws. These forward-looking statements include statements concerning

expected results of operational business segments for 2020, anticipated benefits from our acquisitions of assets and businesses, estimated earnings, and statements regarding our beliefs,

expectations, plans, goals, future events and performance, and other statements that are not purely historical. These forward-looking statements are based on certain assumptions and analyses

made in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate in the circumstances. Such

statements are subject to a number of risks and uncertainties, many of which are beyond our control. Investors are cautioned that any such statements are not guarantees of future performance or

results and that actual results or developments may differ materially from those projected in the forward-looking statements. Some of the factors that could affect actual results are described in the

section titled “Risk Factors” contained in the Annual Report on Form 10-K for the year ended December 31, 2019, for CSI Compressco LP (“CCLP”) as well as other risks identified from time to time

in the reports on Form 10-Q and Form 8-K filed by CCLP with the Securities and Exchange Commission. Statements in this presentation are made as of the date on the cover unless stated

otherwise herein. CCLP is under no obligation to update or keep current the information contained in this document.

Further Disclosure Regarding the Use of Non-GAAP Measures:

Management views revenue, cash from operating activities, distributable cash flow (“DCF”), and Adjusted EBITDA as useful measures to assess our performance in prior periods. Adjusted EBITDA,

a performance measure used by management, is defined as net income (loss) plus: (1) interest expense (net of interest income), (2) income tax provision, (3) non-cash cost of compressors sold (4)

depreciation, amortization, accretion and impairments, (5) equity compensation expense, and (6) other unusual items. The Partnership defines DCF as Adjusted EBITDA less current income tax

expense, maintenance capital expenditures, and interest expense, plus non-cash interest expense. Adjusted EBITDA and DCF are not defined under GAAP and do not purport to be an alternative to

net income or any other GAAP financial measures as a measure of operating performance. Because not all companies use identical calculations, our presentation of Adjusted EBITDA and DCF may

not be comparable to other similarly titled measures of other companies. Management views Adjusted EBITDA and DCF as useful to investors and other external users of our consolidated financial

statements as an additional tool to evaluate and compare our operating performance, because Adjusted EBITDA and DCF are a measurement of a company’s operating performance without regard

to items such as interest expense, taxes, depreciation, and amortization, which can vary substantially from company to company. The reconciliation included in the Financial Data Appendix to this

presentation is not a substitute for financial information prepared in accordance with GAAP, and should be considered within the context of our complete financial results for the periods indicated,

which are available on our website at www.csicompressco.com.


CSI Compressco Overview

CSI Compressco LP (NASDAQ: CCLP)• 40+ years(1) supporting the oil and gas industry• ~1.2M HP in compression service fleet operating at 80.3%

utilization (at 9/30/2020)

TETRA Technologies, Inc. (NYSE: TTI)• Owns ~1.4% GP interest, IDR’s and 34% of common units(2)

NASDAQ: CCLPRecent Unit Price [3] $0.90Market Capitalization [3] $47MEnterprise Value [3] $680MDistribution Annualized [4] $0.04Distribution Yield [4] 4.4%Corporate Headquarters The Woodlands, TX

(1) Including predecessor entities(2) Based on outstanding units as of 9/30/2020(3) Unit price as of market close November 24, 2020; Market Capitalization and Enterprise Value based upon September 30, 2020, debt and most recently reported units outstanding as of September 30, 2020. Enterprise value is a non-GAAP

measure reconciled in appendix (4) Q3 2020 quarterly distribution of $0.01 per common unit; Yield calculated at annualized quarterly distribution rate of $0.04 divided by $0.90 unit price as of market close November 24, 2020


Q3 2020 Highlights & Current Events

• Revenue decreased 1% in Q3-2020 from Q2, excluding new equipment sales • Adjusted EBITDA(1) improved $0.7M sequentially• Adjusted EBITDA margin (1) improved 700 basis points to 35.1%• Compression Services gross margins remained strong at 52.9%• Utilization at 9/30/20 was 80.3% and remains above the low point of utilization from the 2015

to 2017 downturn» Horsepower on standby improved to 78,000 horsepower from a peak of 226,000 in May

• Sold the Midland fabrication facility for $17M in gross cash proceeds in addition to sales of $5M of non-strategic and under-utilized compression units

• Introduced HelixTM , CSI Compressco’s digitally enhanced compression telemetry system

(1) Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See “Non-GAAP Reconciliation” in appendix for more information and reconciliation to net loss.


77%

23%

Refining the Business Model

Compression & Related Services

2020-Q3 TTM Revenue of $241M

Aftermarket Services2020-Q3 TTM Revenue of

$72M

Prioritizing core, higher margin services businesses and eliminating volatility from new equipment sales

Significant growth prospects with minimal incremental capital

Gross margins >50% since 2019-Q2

2020-Q3 TTM Revenue Excl. Equipment Sales

2020-Q3 TTM Gross Profit Excl. Equipment Sales

Compression Services

After Market

$313M

$137M

93%

7%


Compression Market

• Despite a 2.9% forecasted dip in 2021 vs 2020, installed compression services HP remains relatively stable long term

• Centralized Gas Lift is now the largest segment of the compression services market

• Gas Lift will continue gaining market share in the artificial lift segment as a more cost-effective means for lifting horizontal shale wells

• Lower gas production in 2020 and 2021 is expected to support higher gas prices and increased focus on dry gas wells and basins


Multiple Customer Touch Points

Gas Lift replacing ESPs Gas Gathering Centralized Gas Lift Late Life Lift for Unconventionals

60% of high HP Demand

40% of high HP Demand

50% of low HP Demand directed to unconventionals


Compression Services – Diversified Portfolio

Up to 2,500HP size, supporting all compression needs

~90% of operating fleet HP is reciprocating and rotary screw compression

9% of operating fleet HP is small HP GasJack®

/ VJack™ production enhancement equipment, which benefits from improving gas markets

57% of operating fleet is large HP category (>1,000HP), up from 42% in 2016

52.9% in Compression Services gross margin in 2020-Q3


CCLP is Well Positioned for the Coming Market Cycle

• E&Ps drastically reduce capital budgets = lower drilling and completion activity

• As existing well pressures decline more compression HP is required to move the same volume of gas

• Shale wells decline rapidly in initial phase then volumes stabilize -compression is needed for a long time

• As shale wells age, gas-to-oil ratios increase = more demand for compression via Gas Lift and Production Enhancement

• Natural Gas prices improving, Energy Information Administration(EIA) outlook above $3.00/MMBtu in 2021

Compression Services is a cost effective solution for producers to increase base production, both liquids and gas,

in a capex constrained environment

• Fleet is well aligned with applications for:

» Gas lift ~ Wellhead & Centralized

» Pad Well Gathering

» Low Pressure Gathering (Rotary Screws)

» Production Enhancement (GasJacks / Vjacks)


57%34%

9%

Compression Services Fleet

Deployed HP & Utilization Trends

• Large unit (>1,000HP) utilization remained above 85% during previous and current downturn

• Top two customers are well capitalized to increase production as market rebounds

>1,000 HP101-1,000 HP

0-100 HP

Q3 2020 HP Deployed By Size87% Utilization62% Utilization

76% Utilization

0-100 HP 101-1000 HP >1,000 HP

70%

75%

80%

85%

90%

95%

750

800

850

900

950

1,000

1,050

1,100

Util

izat

ion

Dep

loye

d H

P

Deployed HP Total Utilization


Evolution of Compression Fleet

Margin improvement strategy based on unit clustering, leveraging technology, process automation, organizational

design and aggressive cost management

Compression Services Margins %

Total HP by Category

Migrating Towards Larger HP Units

+30%

(9)%

(23)%

Focused on Permian Basin and Eagleford


Focused on Most Prolific Producing Basins

Focused on key shale oil plays with customers with strong balance sheets

Permian Basin

West Region

East Region

South Texas

Mid Continent

Northern Rockies

HP Distribution by CCLP Region*

*As of 9/30/2020

Eagle Ford

Marcellus

Utica

Permian & DelawareBarnett Haynesville

Bakken

Niobrara

Monterey

San Juan

Woodford SCOOP/Stack

Operating UnitsBasinsShale Plays

~75% of horsepower located in Permian, Eagle Ford, and SCOOP/STACK

3%24%

19%

6%6%

42%


HelixTM - Digitally enhanced compression telemetry system

Call to replace parts based on run

conditions before expensive failures

Intelligently clusters service tasks in a single

trip

Automated trend analysis helps identify

optimization opportunities

Enhances lifecycle by adjusting service

intervals

Telemetry offering for sold unit customers

Enhance contract maintenance offering

Standalone revenue stream

Reduces driven miles and total

manhours

Closest tech to a problem isn’t the best

choice without the right parts onboard

High quality techs are allowed to focus on

difficult problems, not oil changes

Subject matter experts can diagnose problems

remotely

Predictive Maintenance Machine Learning

SAAS(Software asa

Service)Route Planning Force Multiplier

• A leading-edge digital platform providing customers with unparalleled compressor performance, mechanical availability and user experience with Helix™ - Digitally Enhanced Compression

• Receives information from compressor units once per minute, providing faster and more complete information when compared to many competitors


Environmental• Natural gas focused, which is

expected to play role in reducing CO2 emissions(1)

• Compliance with industry emissions regulations

• Multiple metrics/KPIs to focus on environmental protection

• Vapor recovery

Governance• Diverse and independent board

comprised of industry leaders• Conflicts committee of two

independent board members• Ethics Code of conduct review, FCPA

training and review, quarterly SOX questionnaire

Safety• Strong safety commitment and

culture with dedicated HSE staff• New work protocols relating to

COVID-19• GeoTab on all company vehicles to

drive positive driving behaviors• Tablet based JSEA by all mechanical

workforce

Social• Stable workforce• Robust and regular training programs• Actively participate with customers in

their CSR (Corporate Social Responsibility) and Supplier Sustainability programs

• Support several local and national organizations

Environmental, Social, Governance (ESG)

(1) Source IEA


Financial Overview


Financial Overview

Well positioned to capitalize on the growing compression marketShort-term outlook for compression has weakened but long-term fundamentals are intact

Revenue ($M) Adjusted EBITDA(1) ($M)

(1) Adjusted EBITDA, distributable cash flow(DCF) and coverage ratio are a non-GAAP financial measure. See “Non-GAAP Reconciliation”in appendix for more information and reconciliation to net loss.

• Despite, revenue decrease in 2020 due to COVID-19, Adjusted EBITDA has been between $27M and $28M in H1-2020

• Adjusted EBIDTA margin of 35.1% in Q3-2020, highest since the acquisition of Compressor Systems Inc. in 2014

• SG&A reduced by 10% from 2020-Q2

• Free cash flow of $14M in Q3-2020

$85$100

$115 $138$103

$136 $114 $124$90 $96

$79

$0$30$60$90

$120$150

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

2018 2019 2020Compression Services Equipment Sales Aftermarket Services

$19$23

$27$30

$27$33 $34 $35

$28 $27 $28

$10$15$20$25$30$35$40

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

2018 2019 2020


$0

$100

$200

$300

$400

$500

$600

2020 2021 2022 2023 2024 2025 2026

In $

Milli

ons

Balance Sheet

• No maintenance covenants

• Recent refinancing of $215M of bonds

• Targeting to generate $15M -$25M of cash by early Q3-21

Debt Maturity

Senior NotesABL Facility

$81M, 7.25% unsecured notes

S&P Rating – CCCMoody’s Rating –

Caa3

$400M, 7.5% secured notes

S&P Rating – B+,Moody’s Rating – B3

$35M ABL commitment

No outstanding as of 9/30/20

$156M, 10% 2nd lien10% cash coupon or 7.25% cash + 3.5%

PIKS&P Rating – CCC+


Bank of America2020 Leveraged Finance Conference

December 1, 2020


Reconciliation & Other Financial Data Tables

Appendix


Non-GAAP Financial Measures

This presentation includes as a non-GAAP financial measure, Adjusted EBITDA, Enterprise Value and Distributable Cash Flow (“DCF”). Adjusted EBITDA andDCF are used as a supplemental financial measure by management to:• evaluate the financial performance of assets without regard to financing methods, capital structure or historical cost basis;• assess our ability to generate available cash sufficient to make distributions to our common unitholders and General Partner;• evaluate the financial performance of our assets without regard to financing methods, capital structure, or historical cost basis;• measure operating performance and return on capital as compared to our competitors; and• determine our ability to incur and service debt and fund capital expenditures.

Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization, and before certain non-cash charges consisting of impairments,bad debt expense attributable to bankruptcy of customer, equity compensation, non-cash costs of compressors sold, fair value adjustments of our PreferredUnits, administrative expenses under the Omnibus Agreement paid in equity using common units, write-off of unamortized financing costs and excludingacquisition and transaction costs and severance.

Distributable cash flow (“DCF”) is used as a supplemental financial measure, as it provides important information relating to the relationship between ourfinancial operating performance and our cash distribution capability. DCF is also used in setting forward expectations and in communications with the board ofdirectors of our general partner. We define DCF as Adjusted EBITDA less current income tax expense, maintenance capital expenditures, interest expense,and severance expense, plus non-cash interest expense.

Adjusted EBITDA should not be considered an alternative to net income or any other measure of financial performance presented in accordance with GAAP.This non-GAAP financial measure may not be comparable to similarly titled measures of other entities, as other entities may not calculate this non-GAAPfinancial measure in the same manner. Management compensates for the limitations of Adjusted EBITDA as an analytical tool by reviewing the comparableGAAP measures, understanding the differences between the measures and incorporating this knowledge into management's decision making process.


Non-GAAP Reconciliation

CSI Compressco - Adjusted EBITDA Reconciliation (In $ Millions)

2018-Q1 2018-Q2 2018-Q3 2018-Q4 2019-Q1 2019-Q2 2019-Q3 2019-Q4 2020-Q1 2020-Q2 2020-Q3

Net Loss $ (15.7) $ (9.6) $ (7.9) $ (3.7) $ (12.5) $ (2.9) $ (3.6) $ (2.0) $ (13.6) $ (24.6) $ (12.6)Interest expense, net 11.4 13.8 13.8 13.5 13.3 13.0 13.5 13.5 13.2 13.6 13.9 Provision of income taxes 1.3 0.9 (0.1) 0.6 4.4 (0.7) (0.4) 0.0 0.2 1.0 0.7 Depreciation & amortization 17.4 17.4 17.7 18.0 18.5 19.1 18.5 20.6 19.9 20.1 19.9

Impairments & other charges - - - 0.7 - 2.5 0.8 - 5.4 9.0 - Non-cash cost of compressors sold 0.3 0.8 2.0 1.0 0.9 0.1 2.8 2.2 1.8 0.6 4.8 Equity compensation (0.6) 0.5 0.4 0.4 0.4 0.6 (0.2) 0.3 0.3 0.5 0.2 Severance and others - 0.0 0.2 - - 0.4 0.4 - 0.6 2.1 0.8 Bond exchange expenses 3.5 - - - - - - - - 4.8 0.0

Adjusted EBITDA $19.2 $23.3 $26.5 $30.2 $26.8 $32.8 $34.0 $34.7 $27.8 $27.0 $27.8

Revenue $85.4 $99.9 $115.3 $138.1 $103.4 $135.9 $113.7 $123.5 $90.3 $96.4 $79.2

Adjusted EBITDA Margin 22.5% 23.3% 23.0% 21.9% 25.9% 24.1% 29.9% 28.1% 30.8% 28.1% 35.1%

CSI Compressco - Free Cash Flow Reconciliation (In $ Millions)

2020-Q3

Net cash provided by operating activities $ (4.5)Capital expenditures, net of sales proceeds 1.6 Midland sale proceeds 17.0

Free Cash Flow $14.1


Market Capitalization

(thousands, except per unit amounts)Market Capitalization: CCLP

Market price per unit on 11/24/2020 0.90$

Units outstanding as of 10/30/2020 47,352

Market Capitalization 42,617$

Enterprise Value: CCLP

Market capitalization based on 11/24/2020

Unit Price 42,617$

Total debt, as of 09/30/2020 636,943

Enterprise Value 679,560$

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