Clay C. Williams - 03 Nov 2023 Form 4 Insider Report for Crestwood Equity Partners LP

Footnote F1

On November 3, 2023 (the "Closing Date"), pursuant to the Agreement and Plan of Merger, dated as of August 16, 2023 (the "Merger Agreement"), by and among the Issuer, Energy Transfer LP ("Energy Transfer"), Pachyderm Merger Sub LLC, a direct wholly owned subsidiary of Energy Transfer ("Merger Sub"), and, solely for the purposes set forth therein, LE GP, LLC, the Issuer merged with and into Merger Sub, with Merger Sub surviving as a direct wholly owned subsidiary of Energy Transfer (the "Merger").

Footnote F2

Pursuant to the Merger Agreement, immediately prior to the effective time of the Merger (the "Effective Time"), each outstanding restricted unit of the Issuer that was granted on or after January 1, 2023 (each, a "2023 Issuer Restricted Unit") converted into the right to receive the common unit merger consideration (as defined below), subject to the same restrictions and other terms and conditions (including as to vesting and forfeiture and any so-called "double-trigger" protection) that were applicable to such 2023 Issuer Restricted Unit immediately prior to such conversion. The average closing price of a common unit representing limited partnership interests in Energy Transfer (each, an "Energy Transfer common unit") for the ten (10) trading days immediately preceding the Closing Date was $13.45.

Footnote F3

Pursuant to the Merger Agreement, each eligible common unit of the Issuer that was issued and outstanding immediately prior to the Effective Time was converted into the right to receive 2.07 Energy Transfer common units (the "common unit merger consideration"). The average closing price of an Energy Transfer common unit for the ten (10) trading days immediately preceding the Closing Date was $13.45.