04 11 17 Investor Presentation

ENTERPRISE PRODUCTS PARTNERS L.P.
INVESTOR PRESENTATION
April 2017
© ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
FORWARD–LOOKING STATEMENTS
This presentation contains forward‐looking statements based on the beliefs of the company, as well
as assumptions made by, and information currently available to our management team. When used
in 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 future
operations, are intended to identify forward‐looking statements.
Although management believes that the expectations reflected in such forward‐looking statements
are reasonable, it can give no assurance that such expectations will prove to be correct. You should
not 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 to
differ materially from those expected, including insufficient cash from operations, adverse market
conditions, governmental regulations, the possibility that tax or other costs or difficulties related
thereto will be greater than expected, the impact of competition and other risk factors discussed in
our latest filings with the Securities and Exchange Commission.
All forward‐looking statements attributable to Enterprise or any person acting on our behalf are
expressly qualified in their entirety by the cautionary statements contained herein, in such filings
and in our future periodic reports filed with the Securities and Exchange Commission. Except as
required by law, we do not intend to update or revise our forward‐looking statements, whether as a
result of new information, future events or otherwise.
© ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 2
KEY INVESTMENT CONSIDERATIONS
One of the largest integrated midstream energy companies
• Integrated system enables EPD to reduce impact of cyclical
commodity swings
• Large supply aggregator and access to domestic and international markets
provides market optionality to producers and consumers
History of successful execution of growth projects and M&A
• ≈$36 billion of organic growth projects and $26 billion of major acquisitions
since IPO in 1998
• ≈$8.4 billion of capital growth projects under construction
• New projects under development
Low cost of capital; financial flexibility
• One of the highest credit ratings among MLPs: Baa1 / BBB+
• Simplified structure with no GP IDRs for long‐term durability and flexibility
• Margin of safety with average distribution coverage of ≈1.2x and
≈$650 million of retained DCF in 2016 (excludes non‐recurring items)
• Consistent distribution growth: 50 consecutive quarters
Financially strong, supportive GP committed for the long‐term
EPD’S UNIQUE ADVANTAGE
Significant & Supportive Insider Ownership
Supportive and unlevered GP with
significant ownership
• EPCO and affiliates own 32% of LP EPCO &
Affiliates
units (no structural subordination –
100%
all unitholders are aligned)
General
• Facilitated elimination of IDRs in Public Partner
a non‐taxable transaction 32.3% L.P.
Interest
through waiver of ≈$322 million 67.7% L.P. Non‐economic
in distributions from 2011 through Interest G.P. Interest
2015 – no backdoor distribution cuts
Enterprise Products
• Purchased ≈$1.6 billion in EPD units
Partners L.P.
since IPO, including purchases of (NYSE: EPD)
$200 million in 1Q 2016
Note: as of January 31, 2017
SUCCESSFUL EXECUTION THROUGHOUT CYCLES
Increased Cash Distributions for 50 Consecutive Quarters
MLP Equities: Higher Correlation to Crude for Last 30 Months EPD Has Delivered Consistent Results Throughout Cycles…
400% $1,600 $160
350% $1,400
Total Gross Operating Margin(1) $140
300% $1,200 $120
250% $1,000 $100
$ millions
$/Bbl
200% $800 $80
150% $600 $60
100% Correlation to WTI Total Since 2Q'14 $400 $40
EPD Unit Price 0.23 0.84 Distributable Cash Flow(1,2)
50% $200 $20
AMZ Index 0.49 0.85
0% XLE ETF 0.65 0.94 $0 $0
EPD Unit Price AMZ Index XLE ETF WTI Crude EPD Gross Operating Margin EPD DCF w/o Non Recurring WTI Crude

…Which Has Supported Distribution Growth… …While Building a Margin of Safety for Future Growth
$2.0 $160 $1,200
$1.8 Cumulative Retained DCF
$140
$1,000 2Q 2004–4Q 2016 $6,683
$1.6
$120 Last 3 Years $2,819 42%
$1.4 Last 12 Months $656 10%
$800
$1.2 $100 $ millions
$/unit
$/Bbl
$1.0 $80 $600

$0.8 $60
$400
$0.6
CAGR: EPD Distribution per Unit $40
$0.4 2Q 2004–4Q 2016 6.4% $200
$0.2 Last 3 Years 5.4% $20
1 Year 5.1%
$0.0 $0 $0
Annualized Distribution per Unit WTI Crude Retained EPD DCF w/o Non Recurring Cash Distributions

(1) Total gross operating margin and distributable cash flow represent reported amounts. For a reconciliation of these amounts to their nearest GAAP counterparts, see “Non‐GAAP Financial Measures” on our website.
(2) Excludes non‐recurring cash transactions (e.g., proceeds from asset sales and property damage insurance claims and payments to settle interest rate hedges). Sources: EPD and Bloomberg
EPD: NATURAL GAS, NGLS, CRUDE OIL,
PETROCHEMICALS AND REFINED PRODUCTS
Asset Overview Connectivity
Pipelines: ≈49,300 miles of natural gas, NGL, crude oil, petrochemicals and Fully integrated midstream energy company
refined products pipelines aggregating domestic supply directly connected to
Storage: 260 MMBbls of NGL, petrochemical, refined products, and crude domestic and international demand
oil, and 14 Bcf of natural gas storage capacity Connected to U.S. major shale basins
Processing: 25 natural gas processing plants; 22 fractionators; Connected to every U.S. ethylene cracker
10 condensate distillation facilities Connected to ≈90% of refineries East of Rockies
Export Facilities: ethane, LPG, PGP, crude oil and refined products Pipeline connected to 21 Gulf Coast PGP customers
Assets Under Construction
Pipelines: ≈1,000 miles of pipelines
Processing: 1 gas processing plant
Petchem: 1 PDH and 1 iBDH facility
Frac IX: Mont Belvieu
DIVERSIFIED SOURCES OF CASH FLOW
BACKED BY FEE–BASED BUSINESS MODEL
$5.2 Billion Total Gross Operating Margin Natural Gas Gathering & Processing Diminishing
for 12 months ended December 31, 2016 Contribution to Total Gross Operating Margin
35%
Total GOM: $3,871 $4,387 $4,814 $5,205 $5,339 $5,230
$1,500 40%
14% 32%
26%
$1,200
30%
% of Total GOM
$ in Millions
$900 17% 15%
20%
16% 10%
$600
$870 8%
57% $821 $510 $535 $292 $169 10%
$300
$371 $331 $301 $259 $253 $247

13% $0 0%
2011 2012 2013 2014 2015 2016
NG Gathering (1) NG Processing (1)
% of Total GOM % Change
% contribution from G&P businesses has
NGL Pipelines & Services decreased with investments in fee‐based
Natural Gas Pipelines & Services pipelines, fractionators and export facilities and
Crude Oil Pipelines & Services lower commodity prices / volumes
(1) Total gross operating margin amounts presented for NG Gathering and NG Processing are components
Petrochemical & Refined Products Services of the total gross operating margin amounts historically reported for our Natural Gas Pipelines &
Services and NGL Pipelines & Services segments, respectively.
SUPPLY / DEMAND FUNDAMENTALS
CURRENT MACRO ENERGY OUTLOOK
Supply–Side
Entering 3rd year of low commodity prices
• Is recent OPEC agreement an inflection point to support $50+ crude?
• How fast will global GDPs grow?
• Will U.S. production grow faster than global demand?
E&P still generally living within cash flow; selective in capital allocation
• Capital markets for E&P spotty, but very supportive of Permian investments
Technology continues to drive improvements in U.S. drilling economics
Producers rationalize properties in non‐core basins:
• Piceance, Jonah, Barnett, Haynesville, Eagle Ford
• New owners increase drilling activity in established basins with “The Need for
Speed”: hedge, drill, complete, and produce to drive IRR
Volume declines in most regions (excluding Permian) have resulted in
underutilized midstream assets, which leads to operational leverage when
volumes return Sources: EIA, Hodson and Waterborne
CURRENT MACRO ENERGY OUTLOOK
Demand–Side Dominates This Part of the Cycle
Demand‐side pull
• U.S. petchems consumed a record 1.6 MMBPD of NGLs in 2016
• Significant increase in demand for U.S. NGLs from new petchem
facilities 2017–2020
• Growing global appetite for U.S. petrochemical products with plentiful
natural gas / NGL feedstocks, labor, and sound rule of law
U.S. began exporting ethane by water in 2016
Record U.S. LPG exports of 877 MBPD in 2016
Record U.S. refinery runs, and record net refined products exports of
1.4 MMBPD in 2016
U.S. begins LNG exports and increased exports of natural gas to
Mexico via pipeline
• U.S. exports more natural gas than it imports for first time in history
Sources: EIA, Hodson and Waterborne
“THE SUPPLY TREADMILL”:
≈1/3 OF GLOBAL OIL PRODUCTION
MUST BE REPLACED BY 2020
Oil and Gas Industry Needs to Replace Declines and Satisfy Demand Growth
MMBPD of Oil 2016 2017 2018 2019 2020
Declines of Existing Fields 5.0 5.0 5.0 5.0 5.0
Annual Demand Growth 1.2 1.2 1.2 1.2 1.2

Annual Additions to Supply 6.2 6.2 6.2 6.2 6.2
Cumulative Additions to Supply 6.2 12.4 18.6 24.8 31
Industry needs to replace 5–6% decline rates in existing fields in addition to meeting new demand
Supply: average annual decline of 5% on 95 MMBPD of production is ≈5 MMBPD of brown field decline
Demand: just 1.3% annual demand growth requires another 1.2 MMBPD of new production
Note: the decline rate for shale is much steeper, especially in the early periods
Billions of CapEx dollars are dedicated yearly to expanding and maintaining existing fields; lesser
amounts are dedicated to new fields and exploratory drilling (riskier, longer lead time investments)
Sources: EPD Fundamentals, IEA, EIA and Various Company Announcements
GLOBAL BALANCES: MOST ANALYSTS
EXPECT MARKET TO BALANCE BY 2H 2017
Demand / Supply Balance until 2Q17 OECD Total Oil Stocks
Supply/Demand (MMBPD)
Stock Change (MMBPD)
Oil demand growth remains robust, especially in emerging markets
2016 2017 2018
IEA OMR, January 2017 +1.6 MMBPD +1.4 MMBPD
PIRA, February 2017 +1.9 MMBPD +1.7 MMBPD +1.7 MMBPD
Sources: IEA and PIRA
ALL MAJOR U.S. CRUDE OIL BASINS HAVE
SOLID RETURNS IN CORE ACREAGE
100%
80%
Rate of Return
60%
40%
20%
0%
DJ Niobrara HZ Midland Basin HZ Eagle Ford Oil Delaware Basin HZ Eagle Ford Cond Bakken
Assumes $55/Bbl and $3/MMBtu
Half–cycle economics for “core” wells Source: EPD Fundamentals
ALL MAJOR U.S. NATURAL GAS BASINS HAVE
SOLID RETURNS IN CORE ACREAGE
100%
Rich Lean
80%
Rate of Return
60%
40%
20%
0%
Rich Scoop Rich Marcellus Pinedale Rich Utica Lean Haynesville Lean Utica Fayetteville
Stack Marcellus
Assumes $55/Bbl and $3/MMBtu
Half–cycle economics for “core” wells Source: EPD Fundamentals
U.S. OIL & CONDENSATE SUPPLY POTENTIAL
ASSUMING SUFFICIENT MARKETS (MBPD)
AK & CA
1,000
750 1,012 926
500 901
250
0
Current 2020 2022
2,200 ROCKIES
2,000
1,800 1,957 2,053
1,600 1,714 200 APPALACHIAN
1,400 150
Current 2020 2022 100 138 157
50 108
0
Current 2020 2022
MID–CONTINENT
900
600 792
765
300 634
0
Current 2020 2022
5,000 PERMIAN
4,000
4,196
Total Supply 3,000
3,241
15,000 2,000
2,203
1,000
12,182 0
10,000 5,000 GULF COAST
10,678 Current 2020 2022
4,000
8,803 4,085
3,000 3,651
5,000 3,132
2,000
1,000
0 0
current
Current 2020 2022 Current 2020 2022 Source: EPD Fundamentals
U.S. NGL SUPPLY POTENTIAL
ASSUMING SUFFICIENT MARKETS (MBPD)
AK & CA
150
100 130 124 122
50
0
current 2020 2022
Current
ROCKIES
1,000
983
941
800 APPALACHIAN
824
600 1,000 1,263
1,095
current 2020 2022
500 794
Total Supply
6,000 MID–CONTINENT 0
5,948 current 2020 2022
5,000 600
5,168 400 526 542
200 481
4,000
4,148 0
3,000 current 2020 2022
2,000
1,000
PERMIAN
1,500 1,759
0
1,000 1,370
current
Current 2020 2022 942
500
0
NGL Components Current 2020 2022 GULF COAST
current
Current 2020 2022
Ethane 1,884 2,388 2,756
1,000 1,278
Propane 1,184 1,462 1,680 1,112
976
N. Butane 400 491 563 500
Iso Butane 240 293 338
0
Natural Gasoline 440 534 611 Current
current 2020 2022
Total 4,148 5,168 5,948 Source: EPD Fundamentals
U.S. NATURAL GAS SUPPLY POTENTIAL
ASSUMING SUFFICIENT MARKETS (BCF/D)
4 AK & CA
2 1 1 1
0
16
ROCKIES Current 2020 2022
12
13 13 13
8
4
0 APPALACHIAN
Current 2020 2022 30
29 31
20
22
10
MID–CONTINENT 0
12
Current 2020 2022
8 9 10 10
4
0
Current 2020 2022
12 PERMIAN
100 8 11
9
4 6
80 94 0
84 Current 2020 2022
60
72 16
GULF COAST
16
40 12 12
12 14 8 14
8 12 9 11
4 4
20 0 0
Current 2020 2022 Current 2020 2022
0
TX GULF COAST
Current 2020 2022 Source: EPD Fundamentals
IS $55/BBL THE NEW $85/BBL?
U.S. Oil and Condensate Forecast
MBPD EPD Forecasts – 2014 vs. 2017
14,000
12,000
≈3 year lag
10,000
8,000
6,000
≈3 year lag
4,000
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
April 2014 Forecast – $85/Bbl January 2017 Forecast – $55/Bbl

Source: EPD Fundamentals
PERMIAN BASIN CRUDE OIL TAKEAWAY
EXPECTED TO TIGHTEN
Permian Crude Oil Balances
(Using Capacities at 100% Load Factor)
4,500
4,000 Other Expansions
3,500 PE2
3,000 Midland to Sealy
Cactus Expansion
2,500
MBPD
BridgeTex Expansion
2,000
Lone Star W TX conversion
1,500
Existing
1,000
Refining
500
Production
‐
Jan‐13
Jul‐13
Jan‐14
Jul‐14
Jan‐15
Jul‐15
Jan‐16
Jul‐16
Jan‐17
Jul‐17
Jan‐18
Jul‐18
Jan‐19
Jul‐19
Jan‐20
Jul‐20
Jan‐21
Jul‐21
Jan‐22
TO MATCH REFINERS PREFERRED FEED SLATE:
LIGHT OIL EXPORTED & HEAVY / MEDIUM
IMPORTED
We expect EPD assets to handle exports, imports, batching and
blending of various crude oil grades and qualities
MMBPD Potential Exports:
22 Mostly Light Oil and
Condensates
20
18
US Prod ‐ Light
16 U.S. Demand for Crude: ≈16.2
US Prod ‐ Cond
14
US Prod ‐ Medium
Light Oil
12
US Prod ‐ Heavy
10
Imports ‐ Canada
8 Imports: KSA, MEX & VEZ
6 Other Imp PADD 5
Canadian Net Imports
4 Other Imp PADD 1
2
0
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
'Base' Imports
Sources: EPD Fundamentals and Company Announcements
LOW GAS TO CRUDE SPREAD CONTINUING
TO DRIVE U.S. NGL ADVANTAGE
Indicative U.S. Ethylene Cracker
Profit Margin by Feedstock
U.S. Ethylene Cracker Feedstocks 90 U.S. Ethylene Cracking Capacity

1,200 40% Growth
Billion lb/year at year end
30% Growth 85
1,000 80
800 75
MBPD
600 70
65
400
60
200
55
0 50
Ethane Naphtha Propane Butane Actual Forecast

Sources: EPD Fundamentals, NYMEX, EIA and CMAI
NATURAL GAS: U.S. GULF COAST–CENTRIC
DEMAND & FORECASTED FLOW PATTERNS
Canada
2016 to 2022 Change in NG Flow
+3 Bcf/d
Bakken
+0.5
1 Bcf/d
Canada
RC & E.G.
+1.5 +1.0
Demand Rockies Marcellus & Utica

Other Western Production
Markets
Production
0 +9–11 Bcf/d
+1 E.G. Midwest
Markets
LNG
+2 E.G. +0.8
California E.G.
+1 Mid Con
(Renewables)
+1 From Midwest
–1 +1 Rockies/Canada
+3 Bcf/d
+5–6 Permian
+1 California E.G.
E.G.
+1 from MidCon
Southeast
+7–8 Bcf/d
+1–2
New capacity is needed
2–3 Bcf/d
to reach future demand Demand:
in South Texas +7–10 LNG Gulf &
+1–2 E.G. S. Texas
+3 Mexico +7
Mexico +3–4 Indust
+4‐5 Bcf/d Source: EPD Fundamentals
14–19 Bcf/d
HOW DOES THE HOUSTON SHIP CHANNEL
STACK UP?
Best Overall Attributes of Texas Gulf Coast
Houston Freeport Beaumont Corpus Christi Texas City
–Pilot staffing –Military priority

One way
–Tug availability –Offshore platforms
Traffic Limitations None traffic None
–Escorts required for shutdown traffic
convoys
LPG & LNG ships –Frequent shoaling
Vessel Traffic Service Yes No Yes No Yes
Designated Barge
Yes No No No No
Lanes
Two way Traffic Yes No No Yes No
Max Draft 45’ 42’ 40’ 45’ 45’
Max Beam 166’ 180’ 157’ 160’ 220’
Air Draft 175’ None 136’ 138’ No limit
# of Pilots 100 3 30 30 16
Below average /
Available # of Tugs Excellent Average Average Excellent
shared with Houston
HOUSTON SHIP CHANNEL HAS
PLENTY OF CAPACITY
Average Utilization is ≈57% of Peak Movements
Total Deepwater Arrivals
8,500
8,000
7,500
7,000
6,500
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Houston Deepdraft
Vessel Movements
2016 arrivals per year 8,300
2016 total movements per year 18,800
2016 average movements per day 52
Peak historical single‐day movements 92
Source: Greater Houston Port Bureau
U.S. THE LARGEST EXPORTER OF LPG
LPG Exports by Destination through December 2016
2016 EPD LPG Exports by Destination Region: 155.4 MMBbls
% of Cargos Loaded EPD% of Destination Market
North America / Caribbean 23% 58%
Central & South America 12% 27%
Europe / Africa 14% 9%
Far East 50% 14%
Other 2% 5%
Europe &
Africa Far East
230.6 MMBbls 531.9 MMBbls
21.3 MMBbls (9%) EPD 76.5 MMBbls (14%) EPD
North America &
Caribbean
60.2 MMBbls Market Top LPG Exporters in 2013, 2014, 2015 and 2016
35.1 MMBbls (58%); EPD % of Market 350
EPD 2013 2014 2015 2016
300
250
South America &
200
MMbls
Central America
69.5 MMBbls 150
19.0 MMBbls (27%) EPD
100
50
‐
Source: Waterborne USAUSA Qatar Algeria UAE Saudi Norway Iran Kuwait
Qatar Algeria UAE Saudi Norway Iran Kuwait
CONTRACTED LPG EXPORT LOADINGS
1,150 Cargos Contracted from 2017–2020
16,000
14,000
12,000
10,000
Mbbls/Month
8,000
6,000
LPG Export Capacity: 14.0 MMbbls/Month
4,000
2,000
0
2010 2011 2012 2013 2014 2015 2016 2017E 2018E 2019E 2020E
Average Term Commitments Operational Capacity
LPG DOCK SPACE EXPECTED TO TIGHTEN
MBPD
3,500
Export Capacity at
LPG Supply
3,000 85% Operating Rate
2,500
2,000
1,500
1,000
500
0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
LPG Domestic Demand Current LPG Exports Export Capacity Addit'l Export
Note: Includes butane, refinery production and imports
Dock capacity calculated at 85% of nameplate Industrywide Sources: EPD Fundamentals and Company Announcements
U.S. GULF COAST ETHANE BALANCES
All Regions ‘West’ of Appalachia Appalachia
MBPD Supply Potential
MBPD Supply Potential 800
2,400
120 600 278
1,800 120 (1) +50? 234
(1)
120 400
Utopia Export
259
1,200 233 200 410 460
1,898 205
1,624 0
600 1,090 Current 2020 2022
Extraction Rejection
0
Current 2020 2022 95
Extraction Rejection High Cost
+30?
New Cracker
2020? Mariner East
Export
Current Demand : ≈1,100 MBPD
Incremental Demand 2020–2022:
+750 to +900 MBPD
(1) EPD believes there is ≈120 MBPD of additional ethane at high prices Source: EPD Fundamentals
THE CHEMICALS INDUSTRY IS MAKING LARGE
INVESTMENTS BASED ON U.S. ETHANE
American Chemistry Council (ACC) analysis shows ≈$164 billion in capital spending
could lead to ≈$105 billion per year in new chemical output
Global petrochemical demand growth generally exceeds global GDP growth
U.S. World Scale Ethylene Plants Under Construction
Capacity Ethane Consumption Ethane Consumption Estimated
Company Location
Billion lb/year (MBPD) Cumulative (MBPD) Completion Date
Occidental Chemical / Mexichem 1.2 40 2017 Ingleside, TX
Chevron Phillips Chemical 3.3 90 2017 Cedar Bayou, TX
ExxonMobil Chemical 3.3 90 2017 Baytown, TX
Dow Chemical 3.3 90 2017 Freeport, TX
Indorama 1.1 30 340 2017 Lake Charles, LA
Shintech 1.1 30 2018 Plaquemine, LA
Sasol 3.3 90 460 2018 Lake Charles, LA
Formosa Plastics 3.5 95 2019 Point Comfort, TX
Axiall / Lotte 2.2 60 2019 Lake Charles, LA
Total Petrochemicals & Refining 2.2 60 675 2019 Port Arthur, TX
Shell 3.5 95 770 Early 2020s Monaca, PA
TOTAL 28.0 770
Sources: American Chemistry Council and EPD Fundamentals
NEW U.S. CRACKERS BUILT TO CRACK
ETHANE; OTHER FEEDSTOCKS LITTLE
CHANGED
MBPD U.S. Ethylene Feedstocks: 2010–2020
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
Ethane Propane Butane Naphtha
2010 2015 2020
Assumes 90% operating rate Sources: Hodson Report and EPD Fundamentals
CRACKING ETHANE HAS A HIDDEN COST
(OPPORTUNITY): FEW HEAVIER OLEFINS
Production
Ethylene Propylene Butylene Butadiene Other
Ethane 78% 0% 1% 2% 19%
Propane 42% 17% 1% 3% 37%
Feedstock
Butane 40% 17% 7% 3% 33%

Naphtha 31% 16% 4% 5% 44%
Gas Oil 21% 15% 5% 4% 55%
End Uses Consumer Durable Rubber, Rubber,

Plastics, Plastics, Paint, Lubricants, Carpet, Paper
Packaging, Fabrics, Motor Fuels & Coatings,
Vinyls, PVC, Containers, etc. Additives, etc. Resins, etc.
Antifreeze, etc.
CRACKING ETHANE FOR ETHYLENE YIELDS FEW COPRODUCTS, SUCH AS PROPYLENE
AND BUTYLENE…THUS THE ADVANTAGE OF ON PURPOSE PROPYLENE AND BUTYLENE
PROJECT UPDATES
EPD VISIBILITY TO GROWTH
$8.4B of Major Capital Projects with More to Come…
Midland–to–ECHO pipeline
$5.0 Crude oil infrastructure
Mont Belvieu Frac IX
Permian processing plant
$4.5 Ethylene infrastructure
$4.0 PDH facility
Butane recovery facility
$3.5 Propylene pipeline expansion $3.3
NGL
$ in Billions
$3.0 $2.8 29% iBDH

Shin Oak pipeline
$2.5 Petchem $2.2
$2.0 48%
Refined products
Crude
$1.5 infrastructure 23%
$1.0
$0.5 $0.1
$0.0 $0.1
$0.0
1Q17 2Q17 3Q17 4Q17 2018 2019
Estimated
ETHANE TAKEAWAY SOLUTIONS
Steady Volume Commitment Growth
ATEX C2 Contracted Volumes
ATEX 150
120
Current capacity of 130 MBPD
MBPD
90
• Expansion to 145 MBPD scheduled by year 60 131
104 116
81
30
end to meet contractual commitments
0
Connected to 4 NGL fractionators and 2015 2016 2017 2018‐2028
currently transporting ≈115 MBPD to
Aegis C2 Contracted Volumes
Mont Belvieu 400
350
ATEX Pipeline
15 year ship‐or‐pay commitments 300
250
MBPD
200
Aegis 150 297
362
100
280‐mile, 20” pipeline combined with 50
50
160 160
0
existing South Texas ethane pipeline 2015 2016 2017 2018 2019
creates header system from Corpus Christi
to Mississippi River in Louisiana
Aegis Pipeline
Received commitments of ≈360 MBPD and
are in discussions for more on Aegis
• Expandable beyond 400 MBPD with
additional pipeline looping
Aegis currently transporting ≈165 MBPD
EXPANDING FOOTPRINT IN DELAWARE BASIN
Bringing Gas Processing Capacity to 800 MMcf/d
South Eddy Gas Plant
Capacity of 200 MMcf/d inlet gas and ≈25 MBPD of
NGL production feeding EPD’s 16” MAPL extension
Delaware Basin Gas Plant (DBGP)
NGL production feeding EPD’s 12” Chaparral
extension
Fully integrated with EPD’s Texas intrastate gas
system at Waha Hub
50/50 joint venture with Occidental
Orla Gas Plant:
NGL production feeding EPD’s 16” MAPL extension
via South Eddy
Fully integrated with EPD’s Texas intrastate gas
system via new 36” pipeline to Waha
Start‐up expected by 2Q 2018
PERMIAN NGL TAKE AWAY SOLUTION
Shin Oak Pipeline
Shin Oak
571‐mile, 24” mixed NGL pipeline
Initial capacity 250 MBPD, expandable to 600 MBPD
Supported by long‐term customer commitments
Expected in‐service: 2Q 2019
ENTERPRISE WESTERN G&P ASSETS
Focus on Increasing Supply
Franchise assets in the Rockies feeding
Wyoming
EPD's downstream NGL system of
Pioneer
Plant
Green River pipelines, fractionation, storage and
Basin
export terminals
Recent transactions bring in “regionally‐
Meeker
Plant
focused” producers
Uinta
Basin Focusing on offering incentives for drilling
Piceance
and completions on dedicated acreage
Basin
Utah
Negotiated incentive deals in all three
Colorado
basins to incentivize drilling in 2016–2019
Expecting an incremental ≈200 MMcf/d of
San Juan
Chaco
Plant Basin
inlet gas to EPD processing plants
New
producing ≈11 MBPD in 2017 from
Gas Gathering Mexico incentive deals
MAPL (NGLs)
MIDLAND TO SEALY CRUDE OIL P/L SEGMENT
From Permian Supply Hub to Multiple Markets
O K L A H O M A
416‐mile, 24” pipeline from Midland
Cushing
to Sealy segment connects to Sealy
storage facility
NEW
MEXICO Sealy connected to ECHO by existing
1.0 MMBPD Rancho II pipeline
TEXAS
Capacity of 450 MBPD supported by
long term contracts
Midland Expected in‐service in 4Q 2017
ramping up through early 2018
Competitive advantages
Terminal • Origin not dependent on 3rd party
Eagle Ford Terminal (JV)
EHSC
Beaumont pipelines
Seaway (JV)
Sealy Katy
Red River Gathering
West Texas Gathering Marshall
ECHO • Direct route from Midland to Gulf Coast
Basin (JV) Milton
Midland to Sealy Lyssy Jones
Texas City
• Four segregations: WTS, WTI, Light WTI
Gardendale
Creek Freeport and condensate
T E Eagle Ford Pipeline (JV)
X A S
Eagle Ford Gathering (JV) Three Rivers
South Texas Legacy
Eagle Ford
• Destination can efficiently distribute
EFS Liquids Gathering Corpus Christi barrels to markets on the Texas Gulf
Rancho II
EHSC System Coast
EDS Header
CRUDE DISTRIBUTION SYSTEM
Interconnectivity: The Enterprise Business Model
Seaway JV
EHSC System Chambers
South TX Crude System Moore Rd Jct
EDS Header
Third Party Pipeline
Dashed lines indicate under construction
EHSC 24”
Pipeline Junction
Motiva VLO TOT XOM
Galena EHSC XOM BMW

Park Baytown
P66
Valero PRSI
Harris Shell Sunoco
EHSC 30” Deer Park
Valero Jct EHSC 30” Deer
Beaumont
Park Jct
EDS 24”
H.R.
MMP
Pasadena Jct
Genoa Jct
ECHO
Jones Creek /
Freeport Webster Jct
Jones Creek Brazoria
Texas City TX City
Freeport GBR VLO MPC
P66
MIDLAND CRUDE OIL TERMINAL
Growing to ≈4 MM Barrels with Connectivity
Centurion Cushing
Wichita Falls
Colorado City
MESA
Mesa Plains / Basin Centurion Sunoco SunVit
PE II
LONGHORN
CACTUS
Garden City
EPD
Crane
MIDLAND AREA
McCamey
ENTERPRISE EAGLE FORD
Houston Beaumont /
Nederland
BRIDGETEX
Gardendale Lyssy
EAGLE FORD JV
Corpus Freeport /
Texas City
Jones Creek
ETHANE EXPORT FACILITY
Largest of Its Kind
Average Annual Contracted Volumes Shipbuilders Response to Increased Ethane Demand
200
Estimated Ethane / Ethylene Vessel Capacity
150 30 205
201 202
195
Capacity (MMBbls)
25
Number of Vessels
MBPD
100 195
20
50 15 180 185
0
10
175
2016 2017 2018 Forward 5
Base w/Option Volumes
Note: Volume commitments for 2016 & 2017 could vary depending on customer elections. ‐ 165
In Service 2017 2018 2019
Current In Orderbook # of vessels
Note: Includes all vessel sizes Source: EPD Fundamentals
HOUSTON SHIP
CHANNEL
MORGAN’S
POINT
TYPICAL MIDSTREAM VALUE CHAIN
Ethane
Feed to Petchems
Gas Fuel (Nat Gas)
Export
Liquids
Propane
Feed to Petchems
Fuel (Heating & Crop Drying)
Export
NGL Butane
Fractionation
Feed to Petchems
Fuel (Motor)
Export
Typical Midstream Value Chain
PDH & iBDH
Extending the Value Chain w/PetChem
H2
Ethane Removing (and Selling)
Feed to PetChems
Fuel (Nat Gas)
Hydrogen Adds Value
Gas
Export
Liquids
PDH Propylene
Propane (fabrics, plastics,
Feed to PetChems
paints, etc)
Fuel (Heating & Crop Drying)
Export
iBDH Butylene
NGL Butane (lubricants, fuels,
Fractionation rubbers, additives,
Feed to PetChems etc.)
Fuel (Motor)
Export
Moving Down the Value Chain
PDH FACILITY
Produce up to 1.65 billion lbs/year
(25 MBPD) of PGP
• Consume 35 MBPD of propane
100% of capacity subscribed
under fee‐based contracts with
investment grade companies
averaging 15 years
• No contractual volume ramp after
completion
Transitioned to new primary
construction contractor
December 2015; productivity
significantly increased
In‐service mid‐2017
ISOBUTYLENE VALUE CHAIN
Continuing Strategy: Convert low cost NGLs into value added olefins
EPD Assets
Crude MTBE
Y‐Grade N‐butane Isobutane Isobutylene
isoButane Crude
Gas Plants Fractionation Isomerization DeHydro Isobutylene
(iBDH)
High Purity
IsoButylene
(HPIB)
Storage Caverns
Existing DeHydro Unit (within MTBE Unit) has been operating for 23 years
There continues to be very high growth in isobutylene derivative markets
• As the isobutylene market demand has grown (particularly for octane enhancers, fuel
and lubricants additive packages) the opportunity cost of the idle capacity in our existing
derivative units, MTBE and High Purity Isobutylene (HPIB), has become more acute
iBDH
Converting Low Cost NGLs into Value Added Olefins
Capacity
Announced January 30
• 425 kta = 937 million pounds of
isobutylene annually
• Doubles Enterprise capacity
• Will consume 30 MBPD butane
Schedule
• Engineering is in full swing
• Permit is expected this coming Fall
• Key long leads have been ordered
• Completion expected 4Q 2019
Contracts
• 50% will fill Crude Isobutylene sales with 15 year (average) fee‐based contracts with
investment grade companies, all on a feedstock cost‐plus basis
• 25% will fill EPD’s idle HPIB capacity for lubricants, additives, and rubber, all on a
feedstock cost‐plus basis
• 25% will fill EPD’s idle MTBE capacity into the export motor gasoline market
DEMONSTRATED GROSS NGL
FRACTIONATION CAPACITY
Frac IX on the Horizon
1400
1200 IX
1000
Frac Capacity (MBPD)
Forecasted Supply
800
600
400
200
0
2010 2011 2012 2013 2014 2015 2016 2017 2018
LA S. TX Hobbs MTBV
PROJECT UNDER DEVELOPMENT
Potential Northeast NGL Takeaway
Centennial Pipeline
795‐mile, 26” / 24” northbound refined
products pipeline from Beaumont, TX
to Bourbon, IL which has been idle since
2011
Owned 50 / 50 by Marathon (“MPC”)
and EPD
Potential Repurposing Project
Combination new build, existing
pipelines and repurposing of Centennial
Connect Marcellus / Utica fractionators
to Centennial
Reverse Centennial’s pump stations and
possibly install additional pump stations
NGL product capacity would be up to
230 MBPD
Construction period of 18–24 months
Currently negotiating deals and
required documents
POTENTIAL NEW NATURAL GAS PIPELINE
Addressing a Coming Permian Constraint
Waha Hub
Agua Dulce Hub
FINANCIAL UPDATE
SOLID OPERATING PERFORMANCE…
5.5 Onshore Liquids 5.3 150 Equity NGL Production 5.5
5.2
Pipeline Volumes(1) 5.0 & Fee‐based Processing
5.0 130 5.0
Equity NGL Production
Fee‐based Processing
4.7
4.9
Million BPD
4.5 4.3 110 4.8 4.7 4.5
Bcf/d
MBPD
4.6
4.4
4.0 90 4.0
101 126 116 133 141

3.5 70 3.5
3.0 50 3.0
2012 2013 2014 2015 2016 2012 2013 2014 2015 2016
1,100 NGL / Propylene Fractionation & Butane Isomerization 15 Onshore Natural Gas Pipeline Volumes(1)
992 993 1,009
13.6
1,000 12.9
894 13 12.5 12.3
900 11.9
826
MBPD
Tbtu/d
800 11
700
9
600
500 7
2012 2013 2014 2015 2016 2012 2013 2014 2015 2016
(1) Excludes offshore volumes prior to 2015.
MARINE TERMINAL / DOCK ACTIVITY
(1,2) (1)
Crude Oil & Condensate Petrochemical & Refined Products 389
750 691 400
355
103
600 481 557 97
495 300 270
366 286
MBPD
MBPD
450 328 97 258

200
300
210 173
100
150 172
210 191 167
38 5
0 0
2013 2014 2015 2016 2013 2014 2015 2016
500 Natural Gas Liquids Total Volumes
436 1,320
1,250 1,219 1,214
400 431
583 466
302 1,000
300 258 3
MBPD
MBPD
246 5 299 889
8 750
200 238 253 748
500 461 636
180
100 250
281
0 0
(1)
2013 2014 2015 2016 2013 2014 2015 2016
Excludes Oiltanking volumes prior to October 1, 2014.
(2) Reflects net interest volumes for joint owned assets. Unloadings Loadings
STRONG FINANCIAL RESULTS
(1)
Total Gross Operating Margin (“Total GOM”) Distributable Cash Flow (“DCF”)
$6.0 $6.0 $5.6
$5.2 $5.3 $5.2
$4.8 $5.0
$5.0 $4.4
$4.1 $4.1 $4.1
$4.0 $4.0 $3.8
$ Billions
$ Billions
$3.9 $4.0
$3.0 $3.7 $4.1
$3.0
$3.0
$2.0 $2.0
$1.0 $1.0
$0.0 $0.0
2012 2013 2014 2015 2016 2012 2013 2014 2015 2016
Distributions Declared $1.61 $3.0 Retained DCF / Coverage
(1,2)
$1.60 (Adjusted for 2‐for‐1 Split in August 2014) $2.6

$1.53 $2.5
1.9x
$1.50 $2.0 $1.9
$1.45
$ per Unit
$ Billions
1.9x
$1.5 $1.3 $1.4
$1.40 $1.37 1.5x 1.5x
$1.0 $1.2 $1.2
$1.29 1.5x 1.4x $1.0 $0.7
$1.30
$0.5 $0.8 1.3x
1.4x 1.2x
$1.20 $0.0
2012 2013 2014 2015 2016 2012 2013 2014 2015 2016
(1)
(2)
Each period noted includes non‐recurring transactions (e.g., proceeds from asset sales and property damage insurance claims and payments to settle interest rate hedges). Non‐recurring items
Retained DCF represents the amount of distributable cash flow for each period that was retained by the general partner for reinvestment in capital projects and other reasons.
DEMONSTRATED FINANCIAL DISCIPLINE
WHILE EXECUTING GROWTH STRATEGY
Total Growth Capex & Debt Leverage
$8.0 $7.8
$4.6 4.7x
$7.0
$6.2 4.5x
$6.0 $2.5
Debt / Adjusted EBITDA
4.4x
4.3x
$5.0 4.2x(2)
$ in Billions
4.2x $4.2 4.2x

$3.9 $3.9 4.1x
$4.0 $3.6
$3.1 4.0x(3)
$1.0
$3.7 3.9x
$3.0 $3.2
3.9x $2.8
(1)
3.8x $2.5 3.7x
$2.0
$1.5
3.6x
$1.0 3.5x
3.5x 3.5x
$0.0 3.3x
2009 2010 2011 2012 2013 2014 2015 2016 2017E
Actual Oiltanking & EFS Midstream Debt Leverage Ratio
(1) Proforma includes full year EBITDA for Oiltanking. (2014/2015) (2015/2016)
(2) Adjusting for 0.2x incremental leverage associated with elevated working capital associated with short‐term contango opportunities across commodities
(3) Adjusted EBITDA for growth projects under construction with proportional contracted cash flow (0.2x)
STRENGTHENING DEBT PORTFOLIO
Extending Maturities Without Increasing Costs
≈$19.6 Billion Notes Issued 87.2% Fixed Rate Debt
15 8.0%
2009–2016
14.1 14.1
13 13.3 7.0%
9.7%
Average Maturity – Years
13.0
12.4
Cost of Debt
12.9%
42.3% 11 6.0%
5.7% 11.0
5.7% 5.7%
5.8%
9 5.5% 5.0%
35.1% 9.2 9.2
4.8% 4.5%
4.7%
7 4.0%
3 Year 5 Year 10 Year 30+ Year
Average Maturity to First Call Date Average Cost of Debt
EPD FINANCIAL METRICS COMPARISON
S&P500
ENTERPRISE PRODUCTS PARTNERS Largest Energy Companies by Market Capitalization
1 EXXON MOBIL CORP $335,080
Ticker: EPD Date: 2/24/2017 2 CHEVRON CORP $207,692
3 SCHLUMBERGER LTD $111,307
Ranking in S&P 500 Index 4 ENTERPRISE PRODUCTS PARTNERS $59,020
5 CONOCOPHILLIPS $57,781
Market Cap. 86th $59,020 Enterprise Value 72nd $83,142 6 EOG RESOURCES INC $55,209
7 OCCIDENTAL PETROLEUM CORP $49,106
th th
Revenue 108 $23,022 EBITDA 89 $5,230 8 KINDER MORGAN INC $47,261
(1) (1)
9 HALLIBURTON CO $45,440
th
Leverage 366 4.4x Rating BBB+/Baa1 10 PHILLIPS 66 $40,307
1000%
900%
Relative Stock Price Performance
800%
700% EPD: 627%
600%
500%
400%
300%
200% AMZ: 176%
100% SPX: 82%
0%
‐100% YE '98 YE '99 YE '00 YE '01 YE '02 YE '03 YE '04 YE '05 YE '06 YE '07 YE '08 YE '09 YE '10 YE '11 YE '12 YE '13 YE '14 YE '15 YE '16
Sources: Bloomberg, CapitalIQ
(1) EPD Leverage is adjusted for hybrids at 50% equity Past results may not be indicative of future performance.
MLPs PROVIDE COMPELLING VALUE
COMPARED TO OTHER INCOME SECURITIES
Median Current Yield
8.0%
7.04%
7.0%
6.0%
EPD 5.7% EPD 5.7%
5.0%
4.45%
4.26%
4.0%
3.55%
3.0%
2.0%
1.0%
0.0%
Midstream MLP REIT (RMZ) Midstream C-Corp Utility (UTY)
Source: Bloomberg. Market data as of 2/21/2017.
1. REIT = RMZ Index constituents, Utility = UTY Index Constituents. Midstream C‐Corp include ENB, ENLC, KMI, OKE, PAGP, SE, TEGP, TRGP, TRP, WMB.
2. Bloomberg consensus estimates.
EPD VISIBILITY TO GROWTH
$8.4B of Major Capital Projects with More to Come…
In Service Date 2016 1Q 2017 2Q 2017 3Q 2017 4Q 2017 2018 2019+
NGL Pipeline & Services
South Eddy (Permian) gas plant – 200 MMcf/d & related pipelines Done
Ethane export facility on Gulf Coast Done
Delaware Basin gas plant (Oxy JV) – 150 MMcf/d & related pipelines Done
South Texas 16" ethane pipeline expansion Done
Aegis ethane pipeline – Phase 2 (2018) √
Mont Belvieu brine handling expansion (2018) √
ATEX Express ethane pipeline 25 MBPD expansion – Marcellus / Utica (2018) √
Orla (Permian) gas plant – 300 MMcf/d & related pipelines (2018) √
Mont Belvieu Frac 9 – 85 MBPD (2018) √
Shin Oak (Permian to Mont Belvieu) 571–mile 24" NGL pipeline (2019) √
Crude Oil Pipelines & Services

Appelt & Beaumont storage terminal expansions, including 58 acre expansion (2015–2018) Done √
ECHO addt'l 4 MMBbl (total capacity ≈6.5 MMBbls) & 55 miles of 36" pipelines (2015–2018) √
Rancho II 36" crude oil pipeline
Permian 25–mile, 10" crude gathering pipeline
Eagle Ford (JV) – crude oil pipeline expansion & gathering (2015) & dock (2018) √
Midland to Sealy 24" crude oil pipeline (2018) √
EFS gathering & condensate pipeline projects (2016–2018) √ √
Petrochemical & Refined Products Services

Refined products export dock – Beaumont expansion (2Q 2016 & 1Q,3Q 2017) Done Done √
Expansion of propylene pipeline system (2016–2017) Done √
Propane Dehydrogenation Unit ("PDH") (2017) √
Ethylene storage and 24–mile 12" pipeline from Mont Belvieu to Bayport, TX (2018) √
Isobutane Dehydrogenation (“iBDH”) Unit (4Q 2019) √
Other Done √ √
Value of capital placed in service ($ Billions) $ 2.2 $ 0.1 $ - $ - $ - $ - $ -

Value of remaining capital projects to be placed in service ($ Billions) $ - $ - $ 2.8 $ 0.0 $ 0.1 $ 3.3 $ 2.2
NON–GAAP RECONCILIATIONS
TOTAL GROSS OPERATING MARGIN
We evaluate segment performance based on our financial measure of gross operating margin. Gross operating margin is an
important performance measure of the core profitability of our operations and forms the basis of our internal financial reporting.
We believe that investors benefit from having access to the same financial measures that our management uses in evaluating
segment results.
The term "total gross operating margin" represents GAAP operating income exclusive of (i) depreciation, amortization and
accretion expenses, (ii) impairment charges, (iii) gains and losses attributable to asset sales, insurance recoveries and related
property damage and (iv) general and administrative costs. Total gross operating margin includes equity in the earnings of
unconsolidated affiliates, but is exclusive of other income and expense transactions, income taxes, the cumulative effect of
changes in accounting principles and extraordinary charges. Total gross operating margin is presented on a 100% basis before any
allocation of earnings to noncontrolling interests. The GAAP financial measure most directly comparable to total gross operating
margin is operating income (dollars in millions). For the Year Ended December 31,
2012 2013 2014 2015 2016
Gross operating margin by segment:
NGL Pipelines & Services $ 2,468.5 $ 2,514.4 $ 2,877.7 $ 2,771.6 $ 2,990.6
Crude Oil Pipelines & Services 387.7 742.7 762.5 961.9 854.6
Natural Gas Pipelines & Services 775.5 789.0 803.3 782.6 734.9
Petrochemical & Refined Products Services 579.9 625.9 681.0 718.5 650.6
Offshore Pipelines & Services 173.0 146.1 162.0 97.5 ‐
Other Investments 2.4 ‐ ‐ ‐ ‐
Total segment gross operating margin (a) 4,387.0 4,818.1 5,286.5 5,332.1 5,230.7
Net adjustment for shipper make‐up rights (b) ‐ (4.4) (81.7) 7.1 17.1
Total gross operating margin (non‐GAAP) 4,387.0 4,813.7 5,204.8 5,339.2 5,247.8
Adjustments to reconcile non‐GAAP gross operating margin to GAAP operating income:
Subtract depreciation, amortization and accretion expense amounts not reflected in gross operating margin (1,061.7) (1,148.9) (1,282.7) (1,428.2) (1,456.7)
Subtract asset impairment and related charges not reflected in gross operating margin (63.4) (92.6) (34.0) (162.6) (52.8)
Add net gains or subtract net losses attributable to asset sales and insurance recoveries not reflected in
gross operating margin 17.6 83.4 102.1 (15.6) 2.5
Subtract general and administrative costs not reflected in gross operating margin (170.3) (188.3) (214.5) (192.6) (160.1)
Operating income (GAAP) $ 3,109.2 $ 3,467.3 $ 3,775.7 $ 3,540.2 $ 3,580.7
(a) Within the context of this table, total segment gross operating margin represents a subtotal and corresponds to measures similarly titled and presented with the business segment footnote
found in our consolidated financial statements
(b) Gross operating margin by segment for NGL Pipelines & Services and Crude Oil Pipelines & Services reflect adjustments for shipper make‐up rights that are included in management's
evaluation of segment results. However, these adjustments are excluded from non‐GAAP total gross operating margin in compliance with recently issued guidance from the SEC.
ADJUSTED EBITDA
Adjusted EBITDA is commonly used as a supplemental financial measure by our management and external users of our financial
statements, such as investors, commercial banks, research analysts and ratings agencies to assess: (1) the financial performance
of our assets without regard to financing methods, capital structures or historical cost basis; (2) the ability of our assets to
generate cash sufficient to pay interest and support our indebtedness; and (3) the viability of projects and the overall rates of
return on alternative investment opportunities. Since Adjusted EBITDA excludes some, but not all, items that affect net income or
loss and because these measures may vary among other companies, the Adjusted EBITDA data included in this presentation may
not be comparable to similarly titled measures of other companies. The following table reconciles non‐GAAP Adjusted EBITDA to
net cash flows provided by operating activities, which is the most directly comparable GAAP financial measure to Adjusted EBITDA
(dollars in millions):
For the Year Ended December 31,
2012 2013 2014 2015 2016
Net income (GAAP) $ 2,428.0 $ 2,607.1 $ 2,833.5 $ 2,558.4 $ 2,553.0

Adjustments to GAAP net income to derive non‐GAAP Adjusted EBITDA:
Subtract equity in income of unconsolidated affiliates (64.3) (167.3) (259.5) (373.6) (362.0)
Add distributions received from unconsolidated affiliates 116.7 251.6 375.1 462.1 451.5
Add interest expense, including related amortization 771.8 802.5 921.0 961.8 982.6
Add provision for or subtract benefit from income taxes (17.2) 57.5 23.1 (2.5) 23.4
Add depreciation, amortization and accretion in costs and expenses 1,094.9 1,185.4 1,325.1 1,472.6 1,486.9
Add asset impairment and related charges 63.4 92.6 34.0 162.6 53.5
Add non‐cash net losses or subtract net gains attributable to asset sales and insurance recoveries 20.0 15.7 7.7 18.9 (2.5)
Add non‐cash expense attributable to changes in fair value of the Liquidity Option Agreement ‐ ‐ ‐ 25.4 24.5
Add losses and subtract gains attributable to unrealized changes in the fair market value of derivative instruments (29.5) 1.4 30.6 (18.4) 45.0
Adjusted EBITDA (non‐GAAP) 4,383.8 4,846.5 5,290.6 5,267.3 5,255.9
Adjustments to non‐GAAP Adjusted EBITDA to derive GAAP net cash flows provided by operating activities:
Subtract interest expense, including related amortization, reflected in Adjusted EBITDA (771.8) (802.5) (921.0) (961.8) (982.6)
Subtract provision for or add benefit from income taxes reflected in Adjusted EBITDA 17.2 (57.5) (23.1) 2.5 (23.4)
Subtract net gains attributable to asset sales and insurance recoveries (106.4) (99.0) (109.8) (3.3) ‐
Subtract distributions received for return of capital from unconsolidated affiliates ‐ ‐ ‐ ‐ (71.0)
Add deferred income tax expense or subtract benefit (66.2) 37.9 6.1 (20.6) 6.6
Add or subtract the net effect of changes in operating accounts, as applicable (582.5) (97.6) (108.2) (323.3) (180.9)
Add or subtract miscellaneous non‐cash and other amounts to reconcile non‐GAAP Adjusted EBITDA
with GAAP net cash flows provided by operating activities 16.8 37.7 27.6 41.6 62.2
Net cash flows provided by operating activities (GAAP) $ 2,890.9 $ 3,865.5 $ 4,162.2 $ 4,002.4 $ 4,066.8
DISTRIBUTABLE CASH FLOW
Distributable cash flow is an important non‐GAAP financial measure for our limited partners since it serves as an indicator of our
success in providing a cash return on investment. Specifically, this financial measure indicates to investors whether or not we are
generating cash flows at a level that can sustain or support an increase in our quarterly cash distributions. Distributable cash flow
is also a quantitative standard used by the investment community with respect to publicly traded partnerships because the value
of a partnership unit is, in part, measured by its yield, which is based on the amount of cash distributions a partnership can pay to
a unitholder. The following table reconciles non‐GAAP Distributable Cash Flow to net cash flows provided by operating activities,
which is the most directly comparable GAAP financial measure to distributable cash flow for the periods presented (dollars in
millions):
For the Year Ended December 31,
2012 2013 2014 2015 2016
Net income attributable to limited partners (GAAP) $ 2,419.9 $ 2,596.9 $ 2,787.4 $ 2,521.2 $ 2,513.1

Adjustments to GAAP net income attributable to limited partners to derive non‐GAAP distributable cash flow
Add depreciation, amortization and accretion expenses 1,104.9 1,217.6 1,360.5 1,516.0 1,552.0
Add distributions received from unconsolidated affiliates 116.7 251.6 375.1 462.1 451.5
Subtract equity in income of unconsolidated affiliates (64.3) (167.3) (259.5) (373.6) (362.0)
Subtract sustaining capital expenditures (366.2) (291.7) (369.0) (272.6) (252.0)
Add net losses or subtract net gains from asset sales and insurance recoveries (86.4) (83.3) (102.1) 15.6 (2.5)
Add cash proceeds from asset sales and insurance recoveries 1,198.8 280.6 145.3 1,608.6 46.5
Add non‐cash expense attributable to changes in fair value of the Liquidity Option Agreement ‐ ‐ ‐ 25.4 24.5
Add net gains or subtract net losses from the monetization of interest rate derivative instruments (147.8) (168.8) 27.6 ‐ 6.1
Add deferred income tax expenses or subtract benefit (66.2) 37.9 6.1 (20.6) 6.6
Add asset impairment and related charges 63.4 92.6 34.0 162.6 53.5
Add or subtract other miscellaneous adjustments to derive non‐GAAP distributable cash flow, as applicable (39.5) (15.7) 73.2 (37.4) 65.5
Distributable cash flow (non‐GAAP) 4,133.3 3,750.4 4,078.6 5,607.3 4,102.8
Adjustments to non‐GAAP distributable cash flow to derive GAAP net cash flows provided by operating activities:
Add sustaining capital expenditures reflected in distributable cash flow 366.2 291.7 369.0 272.6 252.0
Subtract cash proceeds from asset sales and insurance recoveries reflected in distributable cash flow (1,198.8) (280.6) (145.3) (1,608.6) (46.5)
Add net losses or subtract net gains from the monetization of interest rate derivative instruments 147.8 168.8 (27.6) ‐ (6.1)
Add or subtract the net effect of changes in operating accounts, as applicable (582.5) (97.6) (108.2) (323.3) (180.9)
Add or subtract miscellaneous non‐cash and other amounts to reconcile non‐GAAP distributable cash flow
with GAAP net cash flows provided by operating activities, as applicable 24.9 32.8 (4.3) 54.4 (54.5)
Net cash flows provided by operating activities (GAAP) $ 2,890.9 $ 3,865.5 $ 4,162.2 $ 4,002.4 $ 4,066.8
CONTACT INFORMATION
Randy Burkhalter – Vice President, Investor Relations
• (713) 381‐6812
• rburkhalter@eprod.com
Jackie Richert – Director, Investor Relations
• (713) 381‐3920
• jmrichert@eprod.com

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ENTERPRISE PRODUCTS PARTNERS L.P.

EPD Unit Price AMZ Index XLE ETF WTI Crude EPD Gross Operating Margin EPD DCF w/o Non Recurring WTI Crude

$1.0 $80 $600

Annualized Distribution per Unit WTI Crude Retained EPD DCF w/o Non Recurring Cash Distributions

$371 $331 $301 $259 $253 $247

MMBPD of Oil 2016 2017 2018 2019 2020

Declines of Existing Fields 5.0 5.0 5.0 5.0 5.0

Annual Demand Growth 1.2 1.2 1.2 1.2 1.2

Cumulative Additions to Supply 6.2 12.4 18.6 24.8 31

April 2014 Forecast – $85/Bbl January 2017 Forecast – $55/Bbl

U.S. Ethylene Cracker Feedstocks 90 U.S. Ethylene Cracking Capacity

Ethane Naphtha Propane Butane Actual Forecast

Demand Rockies Marcellus & Utica

Houston Freeport Beaumont Corpus Christi Texas City

–Pilot staffing –Military priority

Butane 40% 17% 7% 3% 33%

End Uses Consumer Durable Rubber, Rubber,

$3.0 $2.8 29% iBDH

Connected to 4 NGL fractionators and 2015 2016 2017 2018‐2028

Motiva VLO TOT XOM

Galena EHSC XOM BMW

Mesa Plains / Basin Centurion Sunoco SunVit

4.5 4.3 110 4.8 4.7 4.5

101 126 116 133 141

450 328 97 258

$1.60 (Adjusted for 2‐for‐1 Split in August 2014) $2.6

4.2x $4.2 4.2x

Crude Oil Pipelines & Services

Petrochemical & Refined Products Services

Value of capital placed in service ($ Billions) $ 2.2 $ 0.1 $ - $ - $ - $ - $ -

Net income (GAAP) $ 2,428.0 $ 2,607.1 $ 2,833.5 $ 2,558.4 $ 2,553.0

Net income attributable to limited partners (GAAP) $ 2,419.9 $ 2,596.9 $ 2,787.4 $ 2,521.2 $ 2,513.1

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