ENTERPRISE PRODUCTS PARTNERS L.P. LINKING …...Connected to ≈90% of refineries East of Rockies 26 Gulf Coast PGP connections Asset Overview Connectivity Pipelines: ≈700 miles

ENTERPRISE PRODUCTS PARTNERS L.P.

enterpriseproducts.com© ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P.

LINKING US SUPPLY WITH ASIAN DEMAND:

EXPANDING THE GLOBAL PIPELINE

March 5, 2019

Justin KleidererVP – NGL Marketing & Supply

© ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 2

EPD: NATURAL GAS, NGLs, CRUDE OIL, PETROCHEMICALS AND REFINED PRODUCTS

Pipelines: ≈50,000 miles (80,500 km) of natural gas, NGL, crude oil, petrochemicals and refined products pipelines

Storage: ≈260 MMBbls (30 MM MT) of NGL, petrochemical, refined products, and crude oil, and 14 Bcf (0.4 BCM) of natural gas storage capacity

28 natural gas processing plants; 23 fractionators; 11 condensate distillation facilities; PDH facility

Export Facilities: 18 docks handling NGLs, PGP, crude oil & refined products

Fully integrated midstream energy company aggregating domestic supply directly connected to domestic and international demand

Connected to US major shale basins

Connected to every US ethylene cracker

Connected to ≈90% of refineries East of Rockies

26 Gulf Coast PGP connections

Asset Overview Connectivity

Pipelines: ≈700 miles (1,125 km) of pipelines

Processing: 3 gas processing plants

Fractionators: 2 in Mont Belvieu area

Petchem: 1 iBDH facility

Ethylene export terminal

Assets Under Construction / Commissioning


FUNDAMENTALS


US OIL AND GAS SUPPLIES GROWING AT SIGNIFICANT MULTIPLES

Source: EPD Fundamentals

Forecasts Assume $50 WTI and $3.00 Henry Hub and full ethane recovery

Production growth is Gulf Coast centric

Demand for hydrocarbons in the US is not expected to grow

E&P sector and Petrochemical industry have become dependent on exports

Oil ProductionDry Natural Gas Production

6

10 12

14 16

-

4

8

12

16

2012 2018 2020 2022 2025

69 79

92 101

110

-

20

40

60

80

100

120

2012 2018 2020 2022 2025

2,466

4,859

6,038 7,125

8,212

-

2,000

4,000

6,000

8,000

10,000

2012 2018 2020 2022 2025

NGL Production

BCM/yr BCF/d

1,240 120

1,034 100

827 80

620 60

413 40

207 20

0 0

MM

MT/yr MBPD

256 10,000

205 8,000

154 6,000

103 4,000

51 2,000

0 0

MM

MT/yr MBPD

783 16,000

587 12,000

391 8,000

196 4,000

0 0


US CRUDE OIL PRODUCTION, CONSERVATIVE?

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Pro

du

ctio

n in

MB

PD

US Oil Production - EIA Actuals vs EPD Forecast

6 years: +4,500 MBPD (220 MM MT/yr) 7 years: +5,000 MBPD (245 MM MT/yr)

EIA Data Says US Producers Added 1,500 MBPD (73 MM MT/yr) in 2018. US Crude Production Now Surpasses Both Russia and Saudi Arabia.

Source: EIA, EPD Fundamentals

MM

MT/yr MBPD

881 18,000

783 16,000

685 14,000

587 12,000

489 10,000

391 8,000

294 6,000

196 4,000

98 2,000

0 0


US NGL PRODUCTIONETHANE, PROPANE, BUTANES AND NATURAL GASOLINE

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Pro

du

ctio

n in

MB

PD

US NGLs Production - EIA Actuals vs EPD Forecast*

6 years: +1,900 MBPD (49 MM MT/yr) 7 years: +3,800 MBPD (99 MM MT/yr)

Source: EPD FundamentalsNote: EIA data is net of ~ 500 MBPD of ethane that gets rejected

Source: EIA, EPD Fundamentals

MM

MT/yr MBPD

234 9,000

208 8,000

182 7,000

156 6,000

130 5,000

104 4,000

78 3,000

52 2,000

26 1,000

0 0

The Percentage Growth of NGL Production Will Be Greater Than Crude Oil Due to Associated Rich Gas in the Permian Basin.


$0

$20

$40

$60

$80

$100

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18

WTI

Pri

ce, $

/Bb

l

Liq

. Hyd

roca

rbo

n P

rod

uct

ion

, MB

PD

U.S. Liquids Production WTI Price

US Production

WTI Price

US LIQUID HYDROCARBON PRODUCTIONVS OIL PRICE

2018- $50 Oil16.3 MMBPD (660 MM MT/yr)

Production

Source: EIA and Bloomberg

MM

MT/yr MBPD

742 18,000

659 16,000

577 14,000

494 12,000

412 10,000

330 8,000

247 6,000

165 4,000

2012 - $100 Oil8.5 MMBPD (370 MM MT/yr)

Production


US ALREADY PRODUCES MORE LIGHT CRUDE THAN IT CAN CONSUME

0

2

4

6

8

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

2014-2017 exports - EIA

2018+ EPD Fundamentals

02468

101214161820222426

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

MMBPD

US Prod - Light

US Prod - Cond

US Prod - Medium

US Prod - Heavy

Imports - Canada

Imports: KSA, MEX & VEZ

Other Imp PADD 5

Other Imp PADD 1

Required Exports:8 MMBPD

2017 US Demand for Crude: ≈16.8

CANADIAN IMPORTS

LIGHT OIL

Base Im

po

rts

With Crude Exports Growing to ≈8 MMBPD (391 MM MT/yr) by 2025, the US is Rapidly Becoming a Global Crude Oil Export Powerhouse

MM

MT/yr MMBPD

400 8

300 6

200 4

100 2

0 0

MM

MT/yr MMBPD

1300 26

1200 24

1100 22

1000 20

900 18

800 16

700 14

600 12

500 10

400 8

300 6

200 4

100 2

0 0

MM

MT/yr MMBPD

1300 26

1200 24

1100 22

1000 20

900 18

800 16

700 14

600 12

500 10

400 8

300 6

200 4

100 2

0 0


LPG SUPPLIES ALREADY EXCEED DOMESTIC DEMAND, MORE EXPORT CAPACITY REQUIRED

Sources: IEA and EPD Fundamentals

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

MBPD

LPG Domestic Demand Actual LPG Exports Industry Export Capacity LPG Supply

LPG Supply ?

~1.5 MMBPD (45 MM MT/yr) Headed to Asia

Note: Industry Export Capacity at 85% Operating Rate. Includes EPD, Mariner

East and Targa expansions

MM

MT/yr MBPD

135 4,500

120 4,000

105 3,500

90 3,000

75 2,500

60 2,000

45 1,500

30 1,000

15 500

0 0


DESPITE SHORT TERM BOTTLENECKS, USGC ETHANE SUPPLIES TO SWAMP DEMAND

Source: EIA & EPD Fundamentals

0

250

500

750

1,000

1,250

1,500

1,750

2,000

2,250

2,500

2,750

3,000

Jul-

16

Jan

-17

Jul-

17

Jan

-18

Jul-

18

Jan

-19

Jul-

19

Jan

-20

Jul-

20

Jan

-21

Jul-

21

Jan

-22

Jul-

22

MBPD Ethane Supply-Demand on US Gulf Coast

SABIC/XOM

Total

Formosa

Axiall / Lotte

Sasol

Indorama

Shintech

Exports

Existing Demand

Rejection

Extraction +ATEX

Rejected Ethane

Includes:XOM Baytown start date: July 2018CPC Cedar Bayou: April 2018Oxy/Mexichem Ingleside: Feb 2017DOW Freeport: Nov 2017

MM

MT/yr MBPD

60 3,000

55 2,750

50 2,500

45 2,250

40 2,000

35 1,750

30 1,500

25 1,250

20 1,000

15 750

10 500

5 250

0 0


LatAm: 6% of US Crude Exports

Asia: 46% of US Crude Exports

Other Countries = 18% of US Crude Exports

NWE: 30% of US Crude Exports

702 MMBBLS (94 MM MT)

Exported

USGC CRUDE EXPORTS ≈ 702 MMBBLS (94 MM MT) IN 2018ASIA, DESTINATION OF 46% OF ALL USGC CRUDE EXPORTS

Source: EIA & EPD


LatAm: 19% of US LPG ExportsC3: 5.3 MM MTC4: 0.8 MM MT

Asia: 50% of US LPG Exports

C3: 13.5 MM MTC4: 2.8 MM MT

Other Countries: 22% of US LPG Exports

C3: 5.3 MM MTC4: 1.8 MM MT

NWE: 7% of US LPG Exports

C3: 1.9 MM MTC4: 0.3 MM MT

USGC Exported:C3: 329 MMBBLS (26.5 MM MT)

C4: 67 MMBBLS (6.2 MM MT)

USGC LPG EXPORTS ≈ 395 MMBBLS (33 MM MT) IN 2018ASIA, DESTINATION OF 50% OF ALL USGC LPG EXPORTS

Source: Waterborne

Indian Ocean: 2% of US LPG Exports

C3: 0.4 MM MTC4: 0.4 MM MT


LIQUID HYDROCARBON DEMAND GROWTH DOMINATED BY EMERGING MARKETS

Source: IEA World Energy Outlook

MM

MT/yr MBPD

1648 40,000

1442 35,000

1236 30,000

1030 25,000

824 20,000

618 15,000

412 10,000

206 5,000

0 0


0%

20%

40%

60%

80%

100%

120%

0

400

800

1,200

1,600

USA India China Other Major Asia

Ene

rgy

Inte

nsi

ty v

s U

SA

Po

pu

lati

on

(M

M)

ASIAN POPULATIONS DWARF THE US WHILEUS ENERGY INTENSITY DWARFS ASIA

Source: World Bank

100%

10%

32%

15%

The Average American Consumes 52 BOE/Year


ENTERPRISE CONNECTIVITY


EPD: GATEWAY TO THE WORLD FOR US ENERGY>5 BILLION BBLS (565 MM MT) OF HYDROCARBONS ACROSS ENTERPRISE DOCKS IN LAST 10 YEARS

EPD Morgan’s Point(Ethane & Ethylene*)

EPD Enterprise Houston Ship Channel(Crude Oil, NGLs, Propylene)

EPD Beaumont(Crude Oil, Refined Products)

S

B

A

Seaway Freeport(Crude Oil)

Seaway Texas City(Crude Oil)

*4Q19 limited service, 4Q20 full service


SUPPLY: ACCESS TO OVER 8 MMBPD OF POTENTIAL SUPPLY

T E X A S

O K L A H O M A

Cushing

N E W M E X I C O

Midland

Strategically linked terminals are essential for supply aggregation, segregation, batching, and exports

As US crude supplies grow, access to water becomes critical

EAGLE FORD

1 MMBPD

PERMIAN

5.4 MMBPD

CANADIANBAKKENDJ BASIN

MID-CONTINENTPOWDER RIVER

1.8 MMBPD

ECHO/Enterprise Houston Ship Channel Area

OFFSHORE

500 MBPD

Offshore Terminal

Enterprise Pipeline

Third Party Pipeline

Enterprise Pipeline

Third Party Pipeline

AGGREGATION: >300 MMBBLS OF STORAGE WITHIN THE HOUSTON REGION

Permian to Houston PipelinesEPD Midland – Sealy

EPD Midland – Sealy 2EPD Midland – ECHOMagellan LonghornMagellan BridgeTex

Gray Oak (P66, MPC, ANDV)Exxon/Plains JV

ETP/Magellan/MPLX/Delek JV


OFFSHORE CRUDE OIL EXPORT TERMINAL

Developing an offshore crude oil export terminal off Texas Gulf Coast capable of fully loading VLCCs

• VLCCs have a capacity of ≈2 million barrels (268 M MT)

• Efficient and cost-effective solution to export crude oil to international markets

Started front-end engineering and design (“FEED”) and preparing application for permit approval

Capable of loading at ≈85,000 BPH (11.4 M MT/hour)

Subject to permits and execution of long-term contracts


ENTERPRISE MONT BELVIEUEXPANDING OUR FOOTPRINT

Isoms & DIBs

Frac II & III

Splitter I

PDH & PDH Splitter

iBDH #1 & MTBE (BEF)

Frac IV, V, VI, VII & VIII

Frac IX

iBDH #2

Splitters II & IV

Splitter IIIUnits 1, 2 & 3

Frac X

Frac XI


ENTERPRISE LPG EXPORT FACILITY175 MBPD (5.2 MM MT/YR) EXPORT EXPANSION

MONT BELVIEU

EHSC

CROSS CHANNEL CONNECTIONS

HOUSTON SHIP CHANNEL

• Refrigerated Low Ethane Propane (LE C3)

• HD5 Propane (C3)

• Isobutane (IC4)

• High Purity Isobutane (HP IC4)

• Normal Butane (NC4)

• Butane Mix

NG

LS

• Export Capability: Up to 30 MBPH or 720 MBPD/ 22MM MT/yr

• Import Capability: Up to 20 MBPH or 480 MBPD/ 14MM MT/yr

• Ability to load up to 6 vessels simultaneously


0

1000

2000

3000

4000

5000

6000

7000

Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18

US Hydrocarbon Exports

Crude

Ethane

Normal Butane

Propane

Distillates

Mogas

US EXPORT GROWTHALL HYDROCARBONS TELLING THE SAME STORY

Source: EIA


ENTERPRISE EXPORTS EXPECTED TO CONTINUE TO INCREASE

632

324

1,147

0

500

1,000

1,500

2,000

2,500

Feb-17 May-17 Aug-17 Nov-17 Feb-18 May-18 Aug-18 Nov-18 Feb-19

MB

PD

NGL Petchem & Ref. Products EPD Crude Exports

HURRICANE HARVEY

E

Sources: Waterborne (IHS), EPD Fundamentals and EPD Distribution Schedules, including estimates

MM

MT/yr MBPD

125 2,500

100 2,000

75 1,500

50 1,000

25 500

0 0


THANK YOU


LINKING US SUPPLY & ASIAN DEMAND:EXPANDING THE GLOBAL PIPELINE


FORWARD–LOOKING STATEMENTS

This presentation contains forward-looking statements based on the beliefs of the company, as wellas assumptions made by, and information currently available to our management team. When usedin this presentation, words such as “anticipate,” “project,” “expect,” “plan,” “seek,” “goal,”“estimate,” “forecast,” “intend,” “could,” “should,” “will,” “believe,” “may,” “scheduled,”“potential” and similar expressions and statements regarding our plans and objectives for futureoperations, are intended to identify forward-looking statements.

Although management believes that the expectations reflected in such forward-looking statementsare reasonable, it can give no assurance that such expectations will prove to be correct. You shouldnot put undue reliance on any forward-looking statements, which speak only as of their dates.Forward-looking statements are subject to risks and uncertainties that may cause actual results todiffer materially from those expected, including insufficient cash from operations, adverse marketconditions, governmental regulations, the possibility that tax or other costs or difficulties relatedthereto will be greater than expected, the impact of competition and other risk factors discussed inour latest filings with the Securities and Exchange Commission.

All forward-looking statements attributable to Enterprise or any person acting on our behalf areexpressly qualified in their entirety by the cautionary statements contained herein, in such filingsand in our future periodic reports filed with the Securities and Exchange Commission. Except asrequired by law, we do not intend to update or revise our forward-looking statements, whether as aresult of new information, future events or otherwise.

ENTERPRISE PRODUCTS PARTNERS L.P. LINKING …...Connected to ≈90% of refineries East of Rockies 26 Gulf Coast PGP connections Asset Overview Connectivity Pipelines: ≈700 miles

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