Risk Factors Update Summary

• GIP may sell ENLC common units increased from 611 to 765 units, potentially impacting trading prices.
• The Series B Preferred Units may be exchanged for common units, diluting common unitholders.
• PHMSA proposed a rule in May 2023 enhancing leak survey requirements and repair obligations.
• GIP announced a potential change in control due to acquisition by BlackRock, impacting debt agreements.
• PHMSA issued a proposed rule in September 2023 for updates to emergency response plans.
• The Series B Preferred Units may cause substantial dilution to common unit holders.
• EPA issued a final rule on December 2, 2023, to reduce methane and VOC emissions.
• The Series B Preferred Units holders may have voting rights and can exchange units into common units.
• EPA issued a final rule on November 17, 2023, allowing states to implement stricter methane standards.
• The Series B Preferred Units holders may cause dilution to common unit holders.
• EPA announced a proposed consent decree in January 2023, setting a deadline for NESHAP revisions by December 10, 2024.
• The Series B Preferred Units holders may have voting rights at ENLC, impacting decisions.
• BLM adopted new rules effective January 17, 2017, to reduce venting, flaring, and leaks.
• Litigation ongoing from environmental groups appealing a December 2020 decision related to venting and flaring.