INVESTOR FAQ

Contents
What is the amount of distribution per Common Unit?
How often are distributions paid?
When do I have to purchase units to receive the distribution?
What is the difference between a distribution and a dividend?
Where can I get an explanation of the tax treatment for MLPs?
Who is Energy Transfer Partners' transfer agent?
Can I purchase units directly from Energy Transfer Partners?
Does Energy Transfer Partners have a Distribution Reinvestment Plan (DRIP)?
When did Energy Transfer Partners go public?
Has Energy Transfer ever had a unit split?
What is Energy Transfer's website address?

Q: What is the amount of distribution per Common Unit?

A: Energy Transfer Partners, L.P. (ETP) - On July 28, 2010, ETP declared its quarterly cash distribution to $0.89375 per common unit (an annualized rate of $3.575 per unit) for the three-month period ending on June 30, 2010.

ETP’s current distribution is to be paid on August 16, 2010 to Unitholders of Record as of August 9, 2010.
See note below regarding the ex-dividend date determination.

Energy Transfer Equity, L.P. (ETE) - On July 28, 2010, ETE declared its quarterly cash distribution to $0.54 per common unit (an annualized rate of $2.16 per unit) for the three-month period ending on June 30, 2010.

ETE’s current distribution is to be paid on August 19, 2010 to Unitholders of Record as of August 9, 2010.
See note below regarding the ex-dividend date determination.

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Q: How often are distributions paid?

A: Energy Transfer Partners, L.P. (ETP) - Distributions are typically paid by ETP approximately 45 days after the end of each fiscal quarter.  ETP’s quarterly distributions are estimated to be on or about February 14, May 14, August 15, and November 15.

Energy Transfer Equity, L.P. (ETE) - Distributions are typically paid by ETE approximately 50 days after the end of each fiscal quarter. ETE's quarterly distributions are estimated to be on or about February 19, May 19, August 19, and November 19.

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Q: When do I have to purchase units to receive the distribution?

A: The distribution is paid to unitholders of record on the specified record date.  To be a unitholder of record on the record date you must purchase units prior to the Ex-Dividend date.  Following is the New York Stock Exchange’s definition of the Ex-Dividend

Ex-Dividend
A synonym for "without dividend." The buyer of an ex-dividend stock is not entitled to the next dividend payment. Dividends are paid on a set date to all those shareholders recorded on the books of the company as of a previous date of record.

For example, a dividend may be declared as payable to stockholders of record on a given Friday. Since three business days are allowed for delivery of stock in a regular transaction on the New York Stock Exchange, the Exchange would declare the stock "ex-dividend" as of the opening of the market on the preceding Wednesday. That means anyone who bought it on or after that Wednesday would not be entitled to that dividend. When stocks go "ex-dividend," the stock tables include the symbol "x" following the name.

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Q: What is the difference between a distribution and a dividend?

A: Both ETP and ETE are publicly traded master limited partnerships.  Unitholders are limited partners in the Partnership and receive cash distributions.  A partnership generally is not subject to federal or state income tax.  The annual income, gains, losses, deductions, and credits of the Partnership flow through to the Unitholders, who are required to report their allocated share of these amounts on their individual tax returns as though the Unitholder had received these items directly.  You will receive a K-1 tax package summarizing your allocated share of the Partnership’s reportable tax items for the tax year.  We estimate that Schedule K-1 tax packages will be distributed to Unitholders of record by the first of March for the proceeding calendar year. 

If you should have questions regarding the Schedule K-1, contact our K-1 Support Center at:

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Q: Where can I get an explanation of the tax treatment for MLPs?

A: The Coalition of Publicly Traded Partnerships is a trade association representing publicly traded master limited partnerships (MLPs) and those who work with them.  Following is their website which contains basic information about MLPs and the tax treatment associated with them: http://www.naptp.org.

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Q: Who is Energy Transfer's transfer agent?

A: Energy Transfers' transfer agent is American Stock Transfer & Trust. Request’s ( need not be possessive and just Requests) regarding transfer of units, lost certificates or changes of address should be directed to them. You may download forms from their website or send an email to the address below:

American Stock Transfer & Trust
Attn: Shareholder Services
6201 15th Avenue
Brooklyn, NY 11219
(800) 937-5449
www.amstock.com
info@amstock.com

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Q: Can I purchase units directly from Energy Transfer?

A: No. Energy Transfer does not have a direct purchase plan. You may purchase units through your banker, broker, or other financial institution or brokerage house.

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Q: Does Energy Transfer have a Distribution Reinvestment Plan (DRIP)?

A: No, Energy Transfer does not have a Distribution Reinvestment Plan (DRIP).

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Q: When did Energy Transfer go public?

A: Energy Transfer Partners, L.P. (ETP) was formed in 1996 and was traded on the NYSE under the ticker symbol HPG until March 1, 2004 when the ticker symbol was changed to ETP.  The ticker symbol was changed after the merger with Energy Transfer Partners, which closed on January 20, 2004.  The name of the partnership was changed from Heritage Propane Partners L.P. to Energy Transfer Partners, L.P. after the merger.

Energy Transfer Equity, L.P. (ETE) was formed in 2002 and was privately held until February 2006, when ETE completed its Initial Public Offering.  Public trading of ETE units first began on February 3, 2006 on the NYSE under the ticker symbol ETE.

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Q: Has Energy Transfer ever had a unit split?

A: Energy Transfer Partners, L.P. (ETP) completed a two-for-one unit split on March 15, 2005 to Unitholders of record as of February 28, 2005.

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Q: What is Energy Transfer's website address?

A: Our website address is: http://www.energytransfer.com. Information about our companies is available on our website, including SEC filings, press releases, and other investor information.

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