X0306 4 2018-05-21 0 0001276187 Energy Transfer Equity, L.P. ETE 0001619519 Brannon Richard D C/O CH4 ENERGY III, LLC 421 W. 3RD ST., SUITE 750 FORT WORTH TX 76102 1 0 0 0 Common Units 2018-05-21 4 C 0 9219 A 47619 D Series A Convertible Preferred Units 6.56 2018-05-21 4 C 0 38400 D Common Units 9219 0 D On May 21, 2018 (the "Conversion Date"), the Series A Convertible Preferred Units (the "Convertible Units") representing limited partner interests in Energy Transfer Equity, L.P. (the "Partnership") automatically converted into a number of common units representing limited partner interests in the Partnership ("common units") determined by dividing (a) the Conversion Value (as defined below) on the Conversion Date by (b) $6.56. On the date the Convertible Units were issued, the Conversion Value (as defined below) of each Convertible Unit was zero, and the Conversion Value increased each fiscal quarter since the issuance and prior to the Conversion Date in an amount equal to $0.285 less the cash distribution actually paid with respect to each Convertible Unit for such quarter. As of the Conversion Date, the conversion value of each Convertible Unit is $1.575 (the "Conversion Value"). Sonia Aube, Attorney-in-fact for Mr. Brannon 2018-05-23