ENERGY TRANSFER Acquisition of Enable Midstream Partners, LP February 17, 2021
KEY TRANSACTION HIGHLIGHTS All-Equity, Credit Accretive Bolt-On Acquisition of Complementary Assets Complementary Asset Footprint with Significant Integration Opportunities Acreage Dedication from some of the largest and most…
COMBINATION BENEFITS ALL STAKEHOLDERS THROUGH ADDITIONAL SCALE AND INTEGRATION ENBLs T&S assets complement ETs vast interstate and intrastate pipeline system and provide additional coverage in the Mid-Con and Ark-La-Tex regions…
OVERVIEW OF PROPOSED TRANSACTION Overview of Merger Terms Transaction Illustration Energy Transfer has executed a definitive agreement to acquire Enable in an all-equity transaction, valuing each Enable unit at 5.86 based on the…
COMPLEMENTARY ASSET BASE DRIVES VALUE ACROSS FOOTPRINT Creates Contiguous Asset Footprint Integration Opportunities Mid-Continent Exposure to significant demand pull gas infrastructure in the Mid-Con ENBLs substantial gathering and…
BASIN LEADING POSITION IN MID-CON AND ARK-LA-TEX Mid-Con Basin G&P System Positioning vs. Peers Mid-Con Processing Capacity(1) Enable has 28% of SCOOP/STACK processing capacity but (bcf/d) processes 38% of SCOOP/STACK wet gas…
SCALE AND DIVERSITY OF CASH FLOWS ENHANCE CREDIT PROFILE Diverse Cash Flows Adds nearly 1bn of additional annual EBITDA through midstream systems with connectivity to ETs existing complex Pro forma ET maintains predominantly…
LARGE, DIVERSE AND HIGH-QUALITY CUSTOMER BASE Top Enable Customers Continental Anadarko Basin Champion Enables revenues are strengthened by a diverse, high-quality Ability to shift drilling between both crude and gas focused customer…
ET & ENBL COMPLEMENTARY ASSETS Gather 13 Transport 22.6 Capable of exporting Fractionate 877 Transport 3.6 million mmbtu/d million mmbtu/d 900 thousand bbls/d mbbls/d of NGLs at million bbls/d of of gas & 635 of natural gas via…
SUCCESSFUL ACQUISITION TRACK RECORD HPL TUFCO Houston Pipeline Co. 2004 2005 2006 2011 2012 2012 2012 2014 2015 2016 2017 2019 ET Management has a proven track record of successfully integrating acquisitions Knowledge of…
TRANSACTION TIMELINE February 2021 Q1 and Q2 2021 Mid-Year 2021 Sign Agreement Consent solicitation statement / S-4 Transaction close registration statement declared Announce effective by the SEC and file definitive Transaction…
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