EXPLANATORY NOTE

On October 19, 2018, Energy Transfer Equity, L.P. (“ETE”), Energy Transfer Partners, L.P. (“ETP”) and certain of their affiliates completed the transactions contemplated by that certain Agreement and Plan of Merger dated August 1, 2018 (the “merger agreement”), pursuant to which a wholly owned subsidiary of ETE, merged with ETP, with ETP continuing as the surviving entity and a subsidiary of ETE (the “merger”). Prior to the consummation of the merger, and in accordance with the terms of the merger agreement, ETE, among other things, contributed to ETP all of its and its subsidiaries’ equity interests in Sunoco LP (“SUN”), USA Compression Partners, LP (“USAC”), Lake Charles LNG Company, LLC (“Lake Charles LNG”) and certain other entities, in exchange for ETP common units. We refer to the transactions contemplated by the merger agreement, including the merger and the contribution of the equity interests described above, and the related financing transactions as the “merger transactions.”

Concurrently with the closing of the merger, ETP changed its name to Energy Transfer Operating, L.P., and ETE changed its name to Energy Transfer LP. In this prospectus, unless the context otherwise indicates, references to “we,” “us,” the “Partnership” and “our” refer to Energy Transfer Partners, L.P. and its operating subsidiaries prior to the closing of the merger and Energy Transfer Operating, L.P. and its operating subsidiaries after the closing of the merger.

 

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