Enterprise Announces Notice of Redemption of 7.034% Fixed/Floating Rate Junior Subordinated Notes Due 2068

Enterprise Products Partners L.P. (“Enterprise”) (NYSE: EPD) today
announced that its operating subsidiary, Enterprise Products Operating
LLC (“EPO”), has notified its trustee and paying agent to redeem all of
the $682.7 million outstanding aggregate principal amount of EPO’s
7.034% Fixed/Floating Rate Junior Subordinated Notes due 2068 (CUSIP No.
293791AW9) (the “7.034% Subordinated Notes”). Enterprise anticipates
that the 7.034% Subordinated Notes will be redeemed on or about March 5,
2018 (the “Redemption Date”), in accordance with the terms of the 7.034%
Subordinated Notes, at a price equal to 100% of principal amount of the
notes being redeemed, plus all accrued and unpaid interest thereon to,
but not including, the Redemption Date.

The redemption of the 7.034% Subordinated Notes will be financed by
proceeds from the offering by EPO of $700 million principal amount of
5.375% Junior Subordinated Notes F due February 15, 2078 (the “5.375%
Subordinated Notes”), to be issued by EPO, as announced on February 1,
2018. The redemption of the 7.034% Subordinated Notes and the issuance
of the 5.375% Subordinated Notes will result in annual interest savings
to Enterprise of $11.3 million.

This press release is not an offer to sell or a solicitation of an offer
to buy any securities.

Company Information and Use of Forward-Looking
Statements

Enterprise Products Partners L.P. is one of the largest publicly traded
partnerships and a leading North American provider of midstream energy
services to producers and consumers of natural gas, NGLs, crude oil,
refined products and petrochemicals. Our services include: natural gas
gathering, treating, processing, transportation and storage; NGL
transportation, fractionation, storage and export and import terminals;
crude oil gathering, transportation, storage and export and import
terminals; petrochemical and refined products transportation, storage,
export and import terminals and related services; and a marine
transportation business that operates primarily on the United States
inland and Intracoastal Waterway systems. The partnership’s assets
include approximately 50,000 miles of pipelines; 260 million barrels of
storage capacity for NGLs, crude oil, refined products and
petrochemicals; and 14 Bcf of natural gas storage capacity.

This press release includes forward-looking statements. Except
for the historical information contained herein, the matters discussed
in this press release are forward-looking statements that involve
certain risks and uncertainties, such as the partnership’s expectations
regarding future results, capital expenditures, project completions,
liquidity and financial market conditions. These risks and
uncertainties include, among other things, insufficient cash from
operations, adverse market conditions, governmental regulations and
other factors discussed in Enterprise’s filings with the U.S. Securities
and Exchange Commission. If any of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual
results or outcomes may vary materially from those expected. The
partnership disclaims any intention or obligation to update publicly or
reverse such statements, whether as a result of new information, future
events or otherwise.

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