Institutional Shareholder Services Recommends Energy Transfer Partners Unitholders Vote for Merger with Sunoco Logistics Partners

4/15/17

DALLAS--(BUSINESS WIRE)--Energy Transfer Partners, L.P. (NYSE: ETP) today announced that Institutional Shareholder Services (“ISS”), a leading independent proxy advisory firm, has recommended that ETP unitholders vote "FOR" approval of the proposed merger with Sunoco Logistics Partners L.P. (NYSE: SXL), which will be considered at the April 26, 2017 special meeting of ETP unitholders. ETP unitholders of record as of the close of business on February 27, 2017 will be entitled to vote at the meeting. As previously announced under the terms of the merger agreement, holders of ETP common units will receive 1.5 SXL common units for each ETP common unit.

ETP’s Board of Directors has recommended that ETP unitholders vote in favor of the merger by completing and returning their proxy card. ETP’s unitholders are reminded that their vote is important. Unitholders may be able to vote their common units by telephone or the Internet if their units are held by a broker or other nominee. If ETP unitholders do not vote, it will have the same effect as a vote against approval of the merger. ETP unitholders are advised that if they have any questions or need any assistance in voting their units, they should contact ETP’s proxy solicitor, MacKenzie Partners, Inc., by telephone at (800) 322-2885 toll free.

Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited partnership that owns and operates one of the largest and most diversified portfolios of energy assets in the United States. ETP’s subsidiaries include Panhandle Eastern Pipe Line Company, LP (the successor of Southern Union Company) and Lone Star NGL LLC, which owns and operates natural gas liquids storage, fractionation and transportation assets. In total, ETP currently owns and operates more than 62,500 miles of natural gas and natural gas liquids pipelines. ETP also owns the general partner, 100% of the incentive distribution rights, and approximately 67.1 million common units in Sunoco Logistics Partners L.P. (NYSE: SXL), which operates a geographically diverse portfolio of crude oil and refined products pipelines, terminalling and crude oil acquisition and marketing assets. ETP’s general partner is owned by Energy Transfer Equity, L.P. For more information, visit the Energy Transfer Partners, L.P. website at www.energytransfer.com.