Preferred Equity

Preferred Equity

ET PREFERRED UNITS

On April 1, 2021, Energy Transfer Operating, L.P. merged with a wholly-owned subsidiary of ET. Pursuant to the terms of the merger, at closing, each issued and outstanding preferred unit representing a limited partner interest in ETO was converted into the right to receive one newly-created unit representing a limited partner interest in ET with substantially equivalent preferences, rights, powers, duties and obligations as the ETO preferred unit for which it was exchanged. Following that merger, ETO was merged into ET, with ET as the surviving entity. For additional information related to this transaction, please click here.

Energy Transfer (or its subsidiary, Energy Transfer Operating, L.P.) has issued multiple series of preferred units. Our Series C, D and E preferred units are listed on the NYSE under ticker symbols ETprC, ETprD and ETprE.

For additional information regarding the preferred units, please see below:

NOTICE REGARDING EFFECTIVELY CONNECTED INCOME

The following serves as qualified notice to nominees as provided for under Treasury Regulation section 1.1446-4(b)(4) and (d):

Please note that 100 percent of Energy Transfer Operating, L.P.’s distributions (including distributions on Series A, B, C, D, E, F and G perpetual preferred units) to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Energy Transfer Operating, L.P.’s distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate. Nominees, and not Energy Transfer Operating, L.P., are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

 

Historical distribution information for the Series C, D and E Preferred Units can be found at the following links:

Series C Preferred Units Distribution History
Series D Preferred Units Distribution History
Series E Preferred Units Distribution History

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