ENTERPRISE PRODUCTS PARTNERS L.P. IHS LATIN …Cumulative Additions to Supply 6.2 12.4 18.6 24.8 31 Sources: EPD Fundamentals, IEA, EIA and Various Company Announcements ... HSC Freeport

ENTERPRISE PRODUCTS PARTNERS L.P.

enterpriseproducts.com © ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P.

IHS LATIN AMERICA LPG SEMINAR November 8, 2016

Joseph Fasullo Manager, International NGLs

© ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 2

FORWARD–LOOKING STATEMENTS

This presentation contains forward-looking statements based on the beliefs of the company, as well as assumptions made by, and information currently available to our management team. When used in this presentation, words such as “anticipate,” “project,” “expect,” “plan,” “seek,” “goal,” “estimate,” “forecast,” “intend,” “could,” “should,” “will,” “believe,” “may,” “scheduled,” “potential” and similar expressions and statements regarding our plans and objectives for future operations, are intended to identify forward-looking statements.

Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. You should not put undue reliance on any forward-looking statements, which speak only as of their dates. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expected, including insufficient cash from operations, adverse market conditions, governmental regulations, the possibility that tax or other costs or difficulties related thereto will be greater than expected, the impact of competition and other risk factors discussed in our latest filings with the Securities and Exchange Commission.

All forward-looking statements attributable to Enterprise or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained herein, in such filings and in our future periodic reports filed with the Securities and Exchange Commission. Except as required by law, we do not intend to update or revise our forward-looking statements, whether as a result of new information, future events or otherwise.


ENTERPRISE PRODUCTS OVERVIEW

One of the largest integrated midstream energy companies

• Integrated system enables EPD to reduce impact of cyclical commodity swings

• Large supply aggregator and access to domestic and international markets provides market optionality to producers and consumers

History of successful execution of growth projects and M&A

• ≈$36 billion of organic growth projects and $26 billion of major acquisitions since IPO in 1998

• ≈$5.6 billion of capital growth projects under construction

• Actively pursuing and developing new projects

In 9M 2016 our 50,000 mile pipeline system transported:

• 12.1 Billion cubic feet per day of natural gas

• 5.2 Million barrels per day of liquids

• 439 Thousand barrels per day of NGLs to Marine Terminals


EPD: NATURAL GAS, NGLS, CRUDE OIL, PETROCHEMICALS AND REFINED PRODUCTS

Pipelines: ≈49,000 miles of natural gas, NGL, crude oil, petrochemicals and refined products pipelines

Storage: 250 MMBbls of NGL, petrochemical, refined products, and crude oil, and 14 Bcf of natural gas storage capacity

Processing: 26 natural gas processing plants; 22 fractionators; 10 condensate distillation facilities

Export Facilities: ethane, LPG, PGP, crude oil and refined products

Fully integrated midstream energy company aggregating domestic supply directly connected to domestic and international demand

Connected to U.S. major shale basins

Connected to every U.S. ethylene cracker

Connected to ≈90% of refineries East of Rockies

Pipeline connected to 22 Gulf Coast PGP customers

Asset Overview Connectivity


SUPPLY RELIABILITY OF MULTIPLE BASINS


POTENTIAL TAKEAWAY PROJECTS FOR NORTHEAST NGLS

Centennial Pipeline Repurposing ATEX Expansion


Industry needs to replace 5–6% decline rates in existing fields in addition to meeting new demand

Supply: average annual decline of 5% on 95 MMBPD of production is ≈5 MMBPD of brown field decline

Demand: just 1.5% annual demand growth requires another ~1.2 MMBPD of new production

Note: the decline rate for shale is much steeper, especially in the early periods

Billions of CapEx dollars are dedicated yearly to expanding and maintaining existing fields; lesser amounts are dedicated to new fields and exploratory drilling (riskier, longer lead time investments)

MMBPD of Oil 2016 2017 2018 2019 2020

Declines of Existing Fields 5.0 5.0 5.0 5.0 5.0

Annual Demand Growth 1.2 1.2 1.2 1.2 1.2

Annual Additions to Supply 6.2 6.2 6.2 6.2 6.2

Cumulative Additions to Supply 6.2 12.4 18.6 24.8 31

Sources: EPD Fundamentals, IEA, EIA and Various Company Announcements

Oil and Gas Industry Needs to Replace Declines and Satisfy Demand Growth

“THE SUPPLY TREADMILL”: ≈1/3 OF GLOBAL OIL PRODUCTION MUST BE REPLACED BY 2020


THE SHALE “REVOLUTION” Rapidly Growing Production and Falling Prices

$0.0

$2.0

$4.0

$6.0

$8.0

$10.0

$12.0

$14.0

$16.0

0

5

10

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40

45

50

Jan

-03

Jan

-04

Jan

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Jan

-06

Jan

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Jan

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Jan

-09

Jan

-10

Jan

-11

Jan

-12

Jan

-13

Jan

-14

Jan

-15

Jan

-16

$/MMBtu Bcf/d

Shale Gas

$0

$20

$40

$60

$80

$100

$120

4,000

5,000

6,000

7,000

8,000

9,000

10,000

11,000

12,000

13,000

14,000

Jan

-09

Jul-0

9

Jan

-10

Jul-1

0

Jan

-11

Jul-1

1

Jan

-12

Jul-1

2

Jan

-13

Jul-1

3

Jan

-14

Jul-1

4

Jan

-15

Jul-1

5

Jan

-16

$/Bbl MBPD

WTI Price

Liquids Production

WTI vs. Liquids Hydrocarbon Production

$0.0

$0.1

$0.2

$0.3

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$0.6

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$0.9

$1.0

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

Jan

-10

Jul-1

0

Jan

-11

Jul-1

1

Jan

-12

Jul-1

2

Jan

-13

Jul-1

3

Jan

-14

Jul-1

4

Jan

-15

Jul-1

5

Jan

-16

$/Gal MBPD

Ethane Without Rejection

Net of Rejection

Ethane Price

Ethane Prices vs. Production Capacity

NYMEX Natural Gas Price vs. Shale Production

Natural Gas Price

Sources: NYMEX and EPD Fundamentals


Source: EPD Fundamentals Estimate Note: Assumes gas price of $2.75/MMBtu. Assumes 20% BFIT ROI

U.S. OFFERS WORLD CLASS RESOURCES AT COMPETITIVE PRICES

Crude Breakeven Price

Production Stable

Production Increases

$0

$10

$20

$30

$40

$50

$60

$70$/Bbl

Average High-grade


Source: EPD Fundamental’s Estimate Note: Assumes oil price of $45/Bbl,. Assumes 20% BFIT ROI

U.S. HAS PLENTIFUL NATURAL GAS BELOW $3.50

Natural Gas Breakeven Price Production Increases

$0 $0

$1

$2

$3

$4

$5

$/MMBtu

Average High-grade

Production Stable


6

7

8

9

10

11

6

7

8

9

10

11

Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20

MM

BP

D

$60+

$50-$55 Current Forward Strip

OIL PRODUCTION FORECAST

Source: EPD Fundamentals

U.S. Oil & Condensate Forecast October 2016


NGL PRODUCTION FORECAST


2.0

2.5

3.0

3.5

4.0

4.5

5.0

5.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

5.5

Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20

MM

BPD

$60+

$50-$55 Current Forward Strip

U.S. Available NGL Supply Forecast October 2016


60%

70%

80%

90%

100%

110%

120%International Propane as % of Naphtha

Asia C3 % of Naphtha NWE C3 % of Naphtha

LOW GAS TO CRUDE SPREAD DRIVES GLOBAL NGL CRACKING ADVANTAGE

Sources: EPD Fundamentals, NYMEX, EIA and CMAI

0

10

20

30

40

50

60

70U.S. Ethane Crackers: Global Cost Advantage

U.S

. Ce

nts

Pe

r P

ou

nd

Far East / Asia Naphtha

NWE Naphtha U.S. Propane

U.S. Ethane

Shale Gas Production Now Totals

≈50% of Total Gas Production

NYMEX Natural Gas Price as a % of Crude

0%

20%

40%

60%

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100%

120%

140%

0

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10

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50

NG

as

% W

TI

Bcf

/d

Shale Gas Production

-600

-400

-200

0

200

400

600

$/m

t

Ethylene less Propylene

US NWE Asia


U.S. LPG…BALANCES WILL BE DRIVEN BY EXPORTS

Note: LPG is Propane and Butane Source: EPD Fundamentals

0

500

1,000

1,500

2,000

2,500

3,000

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

MBPD

LPG Demand Current LPG Exports

Supply Range

Exports will fill the gap


LPG EXPORT FACILITY Largest LPG Export Terminal in the World

• Refrigerated Low Ethane Propane (LE C3)

• HD5 Propane (C3)

• Isobutane (IC4)

• Normal Butane (NC4)

• LPG Mix

• Butane Mix

• PGP

NG

LS

MONT BELVIEU

EHSC

CROSS CHANNEL CONNECTIONS

HOUSTON SHIP CHANNEL

Ship Docks Barge Docks

Berth 1 4 5 6 7 8 9 B D

Draft 40’ 40’ 45’ 45’ 45’ 45’ 42’ 15’ 15’

LOA 860’ 900’ 950’ 950’ 950’ 950’ 950’ 2 x 300’ 2 x 300’

Beam 160’ 160’ 175’ 175’ 160’ 165’ 140’ 120’ 120’

DWT 128,000 160,000 160,000 160,000 160,000 160,000 130,000 20,000 20,000

Max

Loading

Rate

LPG: 30 MBPH

PGP: 3 MBPH

Crude: 15 MBPH

Products: 15 MBPH

LPG: 30 MBPH

Crude: 15 MBPH

Products: 15 MBPH

LPG: 30 MBPH

Crude: 15 MBPH

Products: 15 MBPH

LPG: 30 MBPH

Crude &

Products:

5 MBPH

Crude &

Products:

5 MBPH


ENTERPRISE ETHANE EXPORT FACILITY Largest of Its Kind

MORGAN’S POINT

HOUSTON SHIP CHANNEL

New ethane export facility with a combined operating rate of ≈200 MBPD across two docks

18 miles of 24” pipeline – MTBV to Morgan’s Point

≈90% of capacity is under long-term contracts with ramp through 2018


U.S. THE LARGEST EXPORTER OF LPG LPG Exports by Destination Through 3Q’ 2016

North America & Caribbean 60.4 MMBbls

24.1 MMBbls (40%) EPD

Source: Waterborne

Europe & Africa

184.4 MMBbls 16.3 MMBbls (9%) EPD

Far East 423.2 MMBbls

57.3 MMBbls (14%) EPD

% of Cargos Loaded EPD% of Destination Market

North America 21% 40%

South America 13% 33%

Europe/Africa 15% 9%

Far East 51% 14% Other 0% 0%

2016 EPD LPG Exports by Destination Region: 112.2 MMBbls

South America & Central America

43.5 MMBbls 14.5 MMBbls (33%) EPD

-

50

100

150

200

250

300

USA Qatar Algeria UAE Saudi Norway Iran Kuwait

MM

bls

Top LPG Exporters in 2013, 2014, 2015 and 9M2016

EPD 2013 2014 2015 2016 YTD


EPD: LINKING ABUNDANT U.S. SUPPLIES TO GLOBAL DEMAND

Corpus Christi

Texas City

Morgan’s Point

HSC

Freeport / Jones Creek

ECHO

Mont Belvieu


Beaumont West

Beaumont East

ProductShip

Docks

Barge

Docks

Under

Construction

Beaumont West Multi 2 2 2

Beaumont East Refined 1 0 1

Houston Ship Channel Multi 6 2 1

Morgan's Point Ethane, Crude 0 1 2

Texas CityProcessed

Condensate, Crude2 0 0

Freeport / Jones

CreekCrude 2 0 0

Corpus Christi Crude 0 1 1

Refined Products Crude Oil

NGLs

Docks

Pipeline Corridors

Documents

ENTERPRISE PRODUCTS PARTNERS L.P. IHS LATIN …Cumulative Additions to Supply 6.2 12.4 18.6 24.8 31 Sources: EPD Fundamentals, IEA, EIA and Various Company Announcements ... HSC Freeport