Baird Investment Banking

SUMMARY RESPONSE TERMS TO CITI PROPOSAL Conditions for AR Committee Support of the CITI Economics Plan: 1) 4.5 million share gap is subject to AR getting $0.415/unit special cash dividend Preliminara. Praft 3) Series B agrees to reduce shares by 1.125 million 2) Economic ratios adjusted to have existing AMGP holders forego the economics on 1.125 million shares 4) AR pro forma distributions held flat for first four quarters 5) Is AR willing to take more than $3.00 per unit in cash if AM public LPs elect to take all equity in the exchange? BAIRD Project Bronco Page 8

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