Exterran: Sets Archrock Spin Off Date

Exterran Holdings, Inc. announced today that its board of directors has set a record date and a distribution date for the spin-off of its international services and global fabrication businesses into a stand-alone, publicly traded company named Exterran Corporation. Exterran Corporation has applied to list its common stock on the New York Stock Exchange under the symbol “EXTN.”

Upon the completion of the spin-off, Exterran Holdings, which will continue to own and operate its contract operations and aftermarket services businesses in the United States, will be renamed Archrock, Inc. and will trade on the New York Stock Exchange under the symbol “AROC.” Exterran Partners, L.P., a publicly traded master limited partnership controlled and partially owned by Exterran Holdings, will be renamed Archrock Partners, L.P. and will trade on the Nasdaq Global Select Market under the symbol “APLP.”

Record Date and Distribution Date

The two companies will be separated through the distribution of EXTN common stock to holders of Exterran Holdings common stock on a pro rata basis. Exterran Holdings shareholders will receive one share of EXTN common stock for every two shares of EXH common stock held at the close of business on the record date of October 27, 2015. Subject to the satisfaction of the conditions to closing, the distribution is expected to occur on November 3, 2015.

Following the distribution of EXTN common stock, Exterran Corporation and Archrock will be independent publicly traded companies, and Archrock will retain no equity interest in Exterran Corporation.

No action is required by Exterran Holdings shareholders in order to receive shares of EXTN common stock in the distribution. Exterran Holdings shareholders entitled to receive shares of EXTN common stock in the distribution will receive a book-entry account statement reflecting their ownership of EXTN common stock, or their brokerage account will be credited for the shares.

Trading of Exterran Holdings and Exterran Corporation Shares Prior to the Distribution Date

In connection with the distribution, beginning on or shortly before the record date and continuing up to and including the distribution date, Exterran Holdings expects that there will be three trading markets:

• In the “regular way” market, shares of Exterran Holdings common stock will trade under the symbol “EXH” with an entitlement to receive the EXTN common shares to be distributed on the distribution date. Holders who sell Exterran Holdings common stock in the regular way market on or before the distribution date will also sell their right to receive EXTN common shares.
• In the “ex-distribution” market, shares of Exterran Holdings common stock will trade under the symbol “EXH WI” without the right to the EXTN common shares to be distributed on the distribution date. Holders who sell Exterran Holdings common stock in the ex-distribution market on or before the distribution date will retain their right to receive EXTN common shares in the distribution.
• In the “when-issued” market, the right to receive EXTN common shares on the distribution date will trade under the symbol “EXTN WI.” Holders who sell the right to EXTN common shares in the when-issued market on or before the distribution date will retain their shares of Exterran Holdings common stock.

Prior to the distribution, Exterran Holdings will mail an information statement to all shareholders entitled to receive the distribution of EXTN common stock. The information statement will describeExterran Corporation, including the risks of owning EXTN common stock and other details regarding the distribution. Investors are encouraged to consult with their financial and tax advisors regarding the specific implications of buying or selling shares of Exterran Holdings common stock on or before the distribution date.

The completion of the spin-off is subject to the satisfaction or waiver of certain customary conditions, including the receipt of an opinion of counsel as to the tax-free nature of the transaction, the execution of separation and intercompany agreements, the EXTN common stock being authorized for listing on the NYSE and final approval of the Exterran Holdings board of directors.