X0306 4 2013-04-02 0 0001483830 Niska Gas Storage Partners LLC NKA 0001491465 Niska Sponsor Holdings Cooperatief U.A. 1001 FANNIN STREET, SUITE 2500 HOUSTON TX 77002 1 0 1 0 0001491398 Niska Holdings L.P. 1001 FANNIN STREET, SUITE 2500 HOUSTON TX 77002 1 0 1 0 0001478770 Carlyle/Riverstone Energy Partners III, L.P. 1001 FANNIN STREET, SUITE 2500 HOUSTON TX 77002 1 0 1 0 0001478772 C/R Energy GP III, LLC 1001 FANNIN STREET, SUITE 2500 HOUSTON TX 77002 1 0 1 0 Subordinated Units 0 2013-04-02 4 D 0 33804745 0 D Common Units 33804745 0 I See footnote Pursuant to the Contribution, Assignment and Assumption Agreement with Niska Gas Storage Partners LLC (the "Company"), Niska Sponsor Holdings Cooperatief U.A. ("Sponsor Holdings") received 33,804,745 subordinated units ("Subordinated Units") and 100% of the incentive distribution rights ("Former IDRs") upon the closing of the Company's initial public offering on May 17, 2010. The Subordinated Units would have otherwise converted automatically and without further consideration into the Company's common units representing limited partner interests on a one-for-one basis at the end of the subordination period. Pursuant to the Sponsor Equity Restructuring Agreement by and among the Company and Sponsor Holdings, dated April 2, 2013, Sponsor Holdings's Subordinated Units and Former IDRs were combined and restructured as a new class of incentive distribution rights ("IDRs"), with the terms set forth in the Company's Second Amended and Restated Operating Agreement, dated as of April 2, 2013. As of April 4, 2013, Sponsor Holdings directly owned the securities reported herein. All other reporting persons' ownership was indirect through Sponsor Holdings. /s/ Jason Dubchak, Authorized Signatory, on behalf of Niska Sponsor Holdings Cooperatief U.A. 2013-04-04 /s/ Jason Dubchak, Authorized Signatory, on behalf of Niska Holdings L.P. 2013-04-04 /s/ Thomas Walker, Authorized Signatory, on behalf of Carlyle/Riverstone Energy Partners III, L.P. 2013-04-04 /s/ Thomas Walker, Authorized Signatory, on behalf of C/R Energy GP III, LLC 2013-04-04