MATTERS. Investors and security holders may obtain free copies of the Registration Statement and the Proxy Statement/Prospectus, as each may be amended from time to time, as well as other filings
containing important information about Energy Transfer or Crestwood, without charge at the SECs website, at http://www.sec.gov. Copies of the documents filed with the SEC by Energy Transfer are available free of charge on Energy
Transfers website at www.energytransfer.com under the tab Investor Relations and then under the tab SEC Filings or by directing a request to Investor Relations, Energy Transfer LP, 8111 Westchester Drive, Suite 600,
Dallas, TX 75225, Tel. No. (214) 981-0795 or to investorrelations@energytransfer.com. Copies of the documents filed with the SEC by Crestwood are available free of charge on Crestwoods website at
www.crestwoodlp.com under the tab Investors and then under the tab SEC Filings or by directing a request to Investor Relations, Crestwood Equity Partners LP, 811 Main Street, Suite 3400, Houston, TX 77002, Tel. No. (832) 519-2200 or to investorrelations@crestwoodlp.com. The information included on, or accessible through, Energy Transfers or Crestwoods website is not incorporated by reference into this communication.
Participants in the Solicitation
Energy Transfer,
Crestwood and the directors and certain executive officers of their respective general partners may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about the directors and executive
officers of Crestwoods general partner is set forth in its proxy statement for its 2023 annual meeting of unitholders, which was filed with the SEC on March 31, 2023, and in its Annual Report on Form
10-K for the year ended December 31, 2022, which was filed with the SEC on February 27, 2023. Information about the directors and executive officers of Energy Transfers general partner is set
forth in its Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on February 17, 2023. Additional information regarding the participants in the proxy
solicitation and a description of their direct or indirect interests, by security holdings or otherwise, is contained in the Proxy Statement/Prospectus and other relevant materials filed with the SEC.
No Offer or Solicitation
This communication is for
informational purposes only and is not intended to, and shall not, constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any offer, issuance, exchange,
transfer, solicitation or sale of securities in any jurisdiction in which such offer, issuance, exchange, transfer, solicitation or sale would be in contravention of applicable law. No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the Securities Act).
Forward-Looking
Statements
This communication contains forward-looking statements.. In this context, forward-looking statements often address future
business and financial events, conditions, expectations, plans or ambitions, and often include, but are not limited to, words such as believe, expect, may, will, should, could,
would, anticipate, estimate, intend, plan, seek, see, target or similar expressions, or variations or negatives of these words, but not all
forward-looking statements include such words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the consummation of the proposed transaction and the anticipated benefits
thereof. All such forward-looking statements are based upon current plans, estimates, expectations and ambitions that are subject to risks,