HEADING SOUTH OF THE BORDER

US-Mexico Natural Gas Forum August 15, 2017 LEGAL DISCLAIMER

This presentation may contain statements about future events, outlook and expectations of Energy Transfer Equity, L.P. (ETE) and Energy Transfer Partners, L.P. (ETP) (together, the “Companies”), both of which are forward-looking statements. Any statement in this presentation that is not a historical fact may be deemed to be a forward-looking statement. These forward-looking statements rely on a number of assumptions concerning future events that are believed to be reasonable, but are subject to a number of risks, uncertainties and other factors, many of which are outside the Companies’ control, and which could cause the actual results, performance or achievements of the Companies to be materially different. While the Companies believe that the assumptions concerning future events are reasonable, we caution that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of our businesses. These risks and uncertainties are discussed in more detail in the filings made by the Companies with the Securities and Exchange Commission, copies of which are available to the public. The Companies expressly disclaim any intention or obligation to revise or publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise. All references in this presentation to capacity of a pipeline, processing plant or storage facility relate to maximum capacity under normal operating conditions and with respect to pipeline transportation capacity and are subject to multiple factors (including natural gas injections and withdrawals at various delivery points along the pipeline and the utilization of compression) which may reduce the throughput capacity from specified capacity levels.

2 ENERGY TRANSFER PARTNER’S OVERVIEW EARLY 2002- 12 EMPLOYEES

Energy Transfer Was Formed and Comprised Solely of the Vantex System

4 LATE 2002 – 300 EMPLOYEES

Acquired Aquila, Rusk County, Whiskey Bay Assets and Louisiana and Southeast Gathering System

5 2004 – 321 EMPLOYEES

Acquired TUFCO and ET Fuel Systems & Completed Bossier Expansion Project

6 2006 – 564 EMPLOYEES

Completed FWB North Loop & Acquired Houston Pipe Line (HPL) and Transwestern Interstate Pipeline (TW)

7 2010 – 1,933 EMPLOYEES

Established Asset Exposures in Multiple Emerging Shale Plays & Acquired Regency Energy Partners and SEC Energy

8 2012 – 14,000 EMPLOYEES

Acquired Southern Union, , and GP, IDR & LP Interests in Sunoco Logistics

9 ENERGY TRANSFER TODAY - 30,000 EMPLOYEES

Retail Locations (1) Includes Distributers, Dealers, and Co-ops

Hawaii

Recently In-service & Asset Overview Announced Growth Projects

Midland

(1) Represents Sunoco LP retail locations. On April 6, 2017, Sunoco LP announced the partnership will be divesting approximately 1,100 convenience stores to 7-Eleven. Sunoco LP is currently marketing another 207 convenience stores in North and West Texas, and . SUN plans to exit the company-operated convenience store business in the Continental United States during 2017. 10 ETPEnergy ASSET Transfer OVERVIEW Family of Assets

• Energy Transfer Partners, L.P. (“ETP”) is one of the largest publicly traded investment grade MLPs in the United States Ø Equity market capitalization of approximately $41 billion 1 (includes ETE)

• 71,000 miles of natural gas, natural gas liquids (NGL) and crude oil gathering and transportation pipelines

• 13 Bcf/d of natural gas processing, conditioning, and treating capacity

• 160 Bcf of working natural gas storage capacity

• 100 million bbls of working NGL, crude oil and refined products storage capacity

• 565,000 bpd of fractionation capacity expanding to 685,000 bpd in 2018

• 278,000 bpd LPG export terminal at Nederland and Marcus Hook (will be 486,000 bpd when ME2 comes online)

• One of North America’s largest liquefied natural gas import terminals

11 1 As of August 11, 2017 ETP’S ASSETS SUPPLYING GAS TO THE BORDER ETP’S INTERSTATE & INTRASTATE PIPELINE SYSTEMS WELL POSITIONED TO SUPPLY GAS TO MEXICO DELIVERY POINTS

13 ETP’S PIPELINE NETWORK BI-DIRECTIONAL CAPABILITIES

14 ETP’S EAGLE FORD AND SOUTH TEXAS ASSETS

• Eagle Ford volumes continue to be a strong supply option for Mexico

• ETP’s total gas processing capacity in the Eagle Ford and South Texas is ~2.35 Bcf/d

• Volumes on system have continued increasing YTD with July average daily volumes over 2 Bcf/d

• Residue gas outlets to ETP’s intrastate pipeline system and South Texas intrastate and interstate lines

• ETP’s Lobo and HPL systems provide dry gas liquidity for the Nueces/Agua Dulce Area

15 ETP’S PERMIAN ASSETS

ETP’s Pipeline Network: • Capable of delivering in excess of 4.5 Bcf into Waha area (includes Red Bluff Express expected to be in-service Q2 2018)

• Take away capacity in excess of 6 Bcf

16 ETP’S MEXICO PIPELINE PROJECTS

Comanche Trail Pipeline

Ø ~194 miles of 42” intrastate natural gas pipeline from Waha header to Mexico border Waha Header System Ø Capacity of 1.135 Bcf/d Ø Markets: Interconnect with San Ø 6 Bcf/d Header System Isidro Pipeline at US Mexico border Ø Will connect to: Ø ETP Ownership:16% Ø Trans-Pecos & Comanche Trail Pipelines Ø In-Service: Q1 2017 Ø ETP’s vast interstate and intrastate pipeline network Ø Multiple 3rd party pipelines

Trans-Pecos Pipeline

Ø 143 miles of 42” intrastate natural gas pipeline and header system Ø Capacity of 1.356 Bcf/d Ø Markets: Interconnect with Mexico’s 42” Ojinaga Pipeline at US Mexico border Ø ETP Ownership:16% Ø In-Service: Q1 2017

Edinburg/Arguellas Pipeline

Ø ~26 miles of 24” pipeline connecting HPL to Pemex at Arguelles Ø 51 miles of 36” Robstown Crossover Ø Initial capacity: 830,000 MMBtu/d to Agua Dulce & 150,000 MMBtu/d to Arguelles. Ø ETP Ownership: 100% Ø In-Service: Q4 2015 17 UNPRECEDENTED CAPABILITIES FOR ETP TO DELIVER LARGE VOLUMES IN AND OUT OF WAHA AREA

18 Question and Answer

Mackie McCrea Group Chief Operating Officer & Chief Commercial Officer, Energy Transfer