1. Energy Transfer – Company Overview Sunoco Logistics Customer Conference
October 18, 2012

2. Legal Disclaimer
This document relates to a presentation by members of management of Energy Transfer Partners, L.P. (ETP) and Energy Transfer Equity, L.P. (ETE).  In this presentation, members of management of ETP and ETE may make statements about future events, outlook and expectations related to ETP and/or ETE and this document may contain statements about future events, outlook and expectations related to ETP and/or ETE, all of which statements are forward-looking statements as defined under federal law. Any statement made by a member of management of ETP or ETE in this presentation and any statement in this document that is not a historical fact will be deemed to be a forward-looking statement. These forward-looking statements rely on a number of assumptions concerning future events that members of management of ETP and ETE believe to be reasonable, but these statements are subject to a number of risks, uncertainties and other factors, many of which are outside the control of ETP and ETE. While ETP and ETE believe that the assumptions concerning these future events are reasonable, we caution that there are inherent risks and uncertainties in predicting these future events that could cause the actual results, performance or achievements of ETP and ETE to be materially different. These risks and uncertainties are discussed in more detail in the filings made by ETP and ETE with the Securities and Exchange Commission, copies of which are available to the public. ETP and ETE expressly disclaim any intention or obligation to revise or publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.
All references in this presentation to capacity of a pipeline, processing plant or storage facility relate to maximum capacity under normal operating conditions and with respect to pipeline transportation capacity, is subject to multiple factors (including natural gas injections and withdrawals at various delivery points along the pipeline and the utilization of compression) which may reduce the throughput capacity from specified capacity levels.

3. Company Overview

4. Energy Transfer Asset Overview

5. Pro Forma Organizational Structure
Public
LP unitholders
Energy Transfer Equity, L.P. (NYSE: ETE)
60% Ownership
Public
LP unitholders
LP Interest
GP Interest IDRs
Public
LP unitholders
LP Interest
GP Interest IDRs
Public
LP unitholders
LP Interest
GP Interest IDRs
Regency Energy
Partners LP (NYSE: RGP)
Energy Transfer
Partners, L.P. (NYSE: ETP)
40% Ownership
(Board Majority)
Sunoco Logistics Partners L.P.
(NYSE: SXL)
ETP
HoldCo Corp
30%
interest
70%
interest
Gathering &
Processing
Contract
Compression
Contract
Treating
JVs
Lone Star
NGL LLC
NGL
Intrastate
Interstate
Midstream
Sunoco, Inc.
Southern Union Company
50%
interest
49.99%
interest
50%
interest
50%
interest
Midcontinent Express Pipeline
HPC
Citrus Corp
Fayetteville Express Pipeline
Retail & Marketing
LDC Divisions
Panhandle Energy
Southern Union Gas Services
FGT

6. Energy Transfer Family of Assets
The Energy Transfer Family is a diversified, $50+ billion enterprise value partnership comprised of:
Energy Transfer Partners (ETP), a large-cap, investment grade MLP with intrastate transportation and storage, interstate transportation, midstream operations and fractionation and liquids transportation operations
Southern Union Company (SUG), a wholly-owned investment grade subsidiary with transportation, storage, gathering and processing and distribution operations.
Lone Star (LST), a joint venture owned 70% by ETP and 30% by RGP, provides natural gas liquids (NGL) storage, transportation and fractionation
Sunoco, Inc. (SUN), a wholly-owned subsidiary with strong brand and station image recognition, is a leading transportation fuel provider through 4,900 retail outlets
Sunoco Logistics Partners (SXL), a publicly-traded MLP that owns and operates a diverse mix of crude oil and refined products, and terminalling, and storage facilities, as well as crude oil assets
Regency Energy Partners (RGP), a mid-cap MLP with gathering and processing, transportation, contract compression, contract treating, fractionation and liquids transportation operations
Fully consolidated, ETE owns:
Approximately 69,000 miles of natural gas, crude oil, NGL and refined products gathering and transportation pipelines
59 natural gas and NGL processing, conditioning, and treating facilities
Approximately 176 Bcf of natural gas storage capacity
48 Million bbls working NGL storage capacity, 25 Million bbls working crude oil storage capacity and 16 Million bbls working refined products storage capacity
1 fractionator (2 more under construction)
One of North America’s largest liquefied natural gas import terminals
More than 4,000,000 hp contract compression capacity
Note: Joint venture assets shown on consolidated basis; Includes previously announced projects under construction. Pro forma for Sunoco acquisition and Southern Union dropdown. Consolidates Sunoco Logistics.

7. Eagle Ford Shale Projects

8. ETP Eagle Ford Shale Projects
Project
Description
Capacity
Expected Completion
Estimated Cost ($ mm)
Midstream
Dos Hermanas Pipeline
50-mile, 24-inch pipeline originating in northwest Webb County and extending to ETP's existing Houston Pipeline rich gas gathering system in eastern Webb County
400 MMcf/d
In-service Q4 2010
$43
San Cajos Pipeline & Treating
48-mile, 30-inch pipeline originating in southwest La Salle County and extending to southwestern McMullen County; Las Tiendas treating facilities capacity of 300 MMcf/d
210 MMcf/d
In-service Q2 2011
$122
Chisholm Pipeline
76-mile, 20-inch pipeline extending from DeWitt County to ETP's La Grange Processing Plant in Fayette County
100 MMcf/d, expandable to 300 MMcf/d
$68
REM Phase I
160-mile, 30-inch pipeline originating in Dimmitt County and extending to the Chisholm Pipeline for ultimate delivery to ETP’s processing plants
400 MMcf/d, expandable to 800 MMcf/d
In-service Q4 2011
$230
Chisholm Plant
Natural gas processing plant located adjacent to ETP's existing La Grange Plant in Fayette County
120 MMcf/d
In-service Q1 2012
$70
REM Phase II
60-mile, 42-inch pipeline expansion, which will extend from the Chisholm Pipeline in DeWitt County east into Jackson County
800 MMcf/d
Q4 2012
$170
Jackson Plant
Natural gas processing plant located in Jackson County
400 MMcf/d, Phase I
Q1 2013
$400
200 MMcf/d, Phase II
Q1 2014
200 MMcf/d, Phase III
Kenedy Processing Plant
Natural gas processing plant located in Karnes County
200 MMcf/d
$210
REM Expansion
37-miles, 30-inch pipeline expansion
Q4 2013
Included above

9. Lone Star Projects Mont Belvieu Fractionators
,000 Bbl/d NGL fractionators to be constructed at Mont Belvieu
Additional Y-grade liquids storage facilities to be developed
A substantial amount of the fractionation capacity will be utilized for NGLs from ETP’s Justice Pipeline
Expected in-service Frac 1 Q1 2013
Expected in-service Frac 2 Q1 2014
West Texas Gateway Project (NGL) Pipeline
Approximately 570 miles of 16-inch pipe with an initial capacity of 209,000 bpd
Lone Star has secured capacity through ETP’s Justice NGL pipeline from Jackson County to Mont Belvieu
ROW – Over 95% Complete
Mainline construction began in May
Estimated in-service no later than January 2013

10. Interstate Segment

11. ETP Interstate Transwestern
Transports natural gas from the San Juan, Anadarko, and Permian Basins to markets in the Midwest, Texas, Arizona, New Mexico, Nevada, and California
2.8 Bcf/d total capacity with mainline capacity flowing west is 1.2 Bcf/day and San Juan Lateral capacity is 1.6 Bcf/day
Tiger
A 195-mile interstate natural gas pipeline connecting to ETP’s system near Carthage, Texas, extending through the heart of the Haynesville Shale and ending near Delhi, Louisiana
Interconnects to seven interstate pipelines at various points in Louisiana
2.4 Bcf/d of capacity sold under “take or pay” agreements with 9 – 14 years remaining under contract
FEP
A 185-mile interstate natural gas pipeline originating near Conway County, Arkansas, continuing eastward through White County, Arkansas and terminates at an interconnect with Trunkline Gas Company in Panola County, Mississippi
1.85 Bcf/d of capacity sold under “take or pay” agreements with 9 – 11 years remaining under contract
50% / 50% joint venture with Kinder Morgan
System overview
Citrus
A 5,400-mile pipeline system that extends from South Texas to Florida, with a capacity of 3.0 Bcf/d, delivering approximately 63% of the natural gas consumed in the Florida in 2011
Over 65 interconnects with interstate and intrastate pipelines
Over 270 delivery points (240 in Florida)
Over 97% of FGT revenue is derived from fixed reservation fees
50% / 50% joint venture with Kinder Morgan

12. SUG Transportation and Storage
System overview
Panhandle Eastern Pipe Line (PEPL)
Serves customers in the Midwest, Gulf Coast and Midcontinent United States through four large diameter pipelines extending from producing areas in the Anadarko Basin of Texas, Oklahoma and Kansas through Missouri, Illinois, Indiana, Ohio and into Michigan
Trunkline Gas Company
Delivers natural gas from the Gulf Coast areas of Texas and Louisiana through two large diameter pipelines into Arkansas, Mississippi, Tennessee, Kentucky, Illinois, Indiana and Michigan
3,600 mile, 2-line system with 1.7 Bcf/d capacity
Trunkline LNG
One of the nation’s largest LNG import terminals located in Lake Charles, LA
2.1 Bcf/d of peak send out capacity
9 Bcf of storage, 1 Bcf/d of processing capacity
Storage
Owns and leases a total of ~100 Bcf of storage assets in IL, KS, LA, MI and OK which are connected to PEPL
Sea Robin
Two offshore Louisiana natural gas supply systems extending approximately 81 miles into the Gulf of Mexico
400 mile offshore gathering pipeline with 1.0 Bcf/d capacity

13. Sunoco Acquisition

14. Sunoco Business Segments
Retail Marketing
Logistics (SXL)
Refining
~4,900 retail outlets for the sale of gasoline and middle distillates
~5 billion gallons of gasoline and diesel fuel and $500 million of merchandise sales per year
Strong brand and station image recognition
Transitioning source of supply to third parties
~2,500 miles of refined products pipelines located in the Northeast, Midwest and Southwest
~5,400 miles of crude oil pipelines, located principally in Oklahoma and Texas
~42 million barrels of refined products and crude oil terminal capacity
Engaged in the acquisition and marketing of crude oil
SUN owns:
100% of the SXL GP interest and IDRs
32.4% of SXL common units
Announced exit of refining business in September 2011
Marcus Hook, PA refinery (175 MBbls/d) sale announced July 2012
Philadelphia refinery (330 MBbls/d)
On July 2, 2012, announced a joint venture with Carlyle
SUN will maintain a minority interest (30%)
Carlyle will operate the refinery
No additional capital will be required from SUN 14