NGL Energy Partners LP Announces Pricing of Upsized $500 Million of Senior Notes

NGL Energy Partners LP (NYSE:NGL) and its wholly owned subsidiary NGL
Energy Finance Corp. today announced that they have priced an upsized
private offering of $500 million aggregate principal amount of 6.125%
senior notes due 2025. NGL expects to use the net proceeds of this
offering and the concurrent offering of NGL’s common units to reduce
borrowings under its senior secured revolving credit facility.

The notes are being initially sold to investors at a price of 100% of
their principal amount. Interest on the notes will accrue at a rate of
6.125% per annum and will be payable semiannually on March 1 and
September 1 of each year, beginning on September 1, 2017. The maturity
date of the notes is March 1, 2025.

NGL expects this private offering to close on February 22, 2017, subject
to the satisfaction of customary closing conditions.

The offer and sale of the notes have not been registered under the
Securities Act of 1933, as amended (the “Securities Act”), or any state
securities laws, and the notes may not be offered or sold in the United
States of America absent registration or an applicable exemption from
the registration requirements of the Securities Act and applicable state
laws.

The notes have been offered and sold to qualified institutional buyers
in accordance with Rule 144A under the Securities Act, and outside the
United States of America to investors other than U.S. persons, in
reliance on Regulation S under the Securities Act. This announcement
does not constitute an offer to sell, or a solicitation of an offer to
buy, any security and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offer, solicitation or sale would
be unlawful.

About NGL Energy Partners LP

NGL Energy Partners LP is a Delaware limited partnership. NGL owns and
operates a vertically integrated energy business with five primary
businesses — water solutions, crude oil logistics, NGL logistics,
refined products/renewables and retail propane. For further information,
visit the Partnership’s website at www.nglenergypartners.com.

Forward-Looking Statements

This press release includes “forward-looking statements.” All statements
other than statements of historical facts included or incorporated
herein may constitute forward-looking statements. Actual results could
vary significantly from those expressed or implied in such statements
and are subject to a number of risks and uncertainties. While NGL
believes its expectations as reflected in the forward-looking statements
are reasonable, NGL can give no assurance that such expectations will
prove to be correct. The forward-looking statements involve risks and
uncertainties that affect operations, financial performance, and other
factors as discussed in filings with the Securities and Exchange
Commission. Other factors that could impact any forward-looking
statements are those risks described in NGL’s annual report on Form
10-K, quarterly reports on Form 10-Q, and other filings with the
Securities and Exchange Commission. You are urged to carefully review
and consider the cautionary statements and other disclosures made in
those filings, specifically those under the heading “Risk Factors.” NGL
undertakes no obligation to publicly update or revise any
forward-looking statements except as required by law.

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