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Key Transaction Highlights Immediately Accretive to DCF/Unit Upon Closing Credit Neutrality Driven by All-Equity Deal لسل ENERGY TRANSFER Diversified and Complementary Assets Drive $40MM+ of Annual Operational and Cost Synergies with Future Opportunities for Financial Synergies Crestwood Long-term (9+ Years) Contracted Portfolio Supported by Diversified, Blue-Chip, and Investment-Grade Counterparties ~85-90% Fee-Based Margin Business While Extending Value Chain in Key Basins Strategic Transaction Allows Energy Transfer to Further Diversify its G&P Business While Meaningfully Reducing Pro Forma Costs ENERGY TRANSFER 6

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