X0306 4 2018-05-21 0 0001276187 Energy Transfer Equity, L.P. ETE 0001281086 MCREYNOLDS JOHN W 8111 WESTCHESTER DRIVE, SUITE 600 DALLAS TX 75225 1 1 0 0 President Common Units 2018-05-21 4 C 0 122158 A 630958 D Common Units 2018-05-21 4 C 0 2056313 A 12142593 I By: McReynolds Equity Partners, L.P. Common Units 2018-05-21 4 C 0 2955200 A 17455608 I By: McReynolds Energy Partners, L.P. Series A Convertible Preferred Units 6.56 2018-05-21 4 C 0 508800 D Common Units 122158 0 D Series A Convertible Preferred Units 6.56 2018-05-21 4 C 0 8564710 D Common Units 2056313 0 I By: McReynolds Equity Partners, L.P. Series A Convertible Preferred Units 6.56 2018-05-21 4 C 0 12308645 D Common Units 2955200 0 I By: McReynolds Energy Partners, L.P. 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"). The reported securities are owned directly by a limited partnership of which Mr. McReynolds is the general partner. Mr. McReynolds disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. Sonia Aube, Attorney-in-fact for Mr. McReynolds 2018-05-23