Investor Presentaiton

Growing With Increased Financial Discipline - 2023 A Key Transition Year Legacy ET Organic Growth Capital1 2018 $4.9B 2023E ~$2B ET Adjusted EBITDA² 2023E $13.05-$13.45B 2018 $9.5B ET placed on Positive Outlook for credit upgrade at all three major rating agencies 1Includes ET's proportionate share of JV spend 2Adjusted EBITDA includes 100% of ET's EBITDA related to non-wholly-owned subsidiaries 2017 • Trans Pecos/Comanche Trail Pipelines* Major growth projects added since 2017 Bakken Pipeline System* Permian Express 3* Arrowhead Plant • Panther Plant • • Rover Pipeline* 2018 • Frac V Arrowhead II Plant • Mariner East 2 • Rebel II Plant • Bayou Bridge Phase II* • • 2019 • Permian Express 4* Frac VI Red Bluff Express Pipeline* • 2020 Frac VII Mariner East 2X PA Access • • Lone Star Express Expansion Mariner East 2X 2021 PA Access . • Cushing South Phase I Mariner East 2 JC Nolan Diesel Pipeline* Arrowhead III Plant • Panther II Plant ENERGY TRANSFER • Orbit Ethane Export Terminal* LPG Expansions • Bakken Optimization* . Permian Bridge • Permian Bridge Phase II 2022 • Ted Collins Link • Grey Wolf Processing Plant • Cushing South Phase II • Gulf Run Pipeline 2023 • Bear Processing Plant³ Frac VIII³ • Pipeline optimization projects 12 *Joint Ventures 3 Currently under construction

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