EPD

• Adjusted EBITDA was a record $2.8 billion, up 17%; Operational DCF was a record $2.3 billion, providing 1.9x distribution coverage.
• Record pipeline volumes of 14.7 MMBPD (up 8%) and marine terminal volumes of 2.8 MMBPD (up 33%) drove results.
• On July 28, 2026, subsidiary EPO entered a new $1.0 billion revolving credit agreement, maturing March 26, 2027, guaranteed by the Partnership.
• Approved construction of Frac 15 at Mont Belvieu and two new gas processing plants (Plant 13 in Delaware Basin, Plant 11 in Midland Basin).

1.01 Entry into a Material Definitive Agreement · 2.02 Results of Operations and Financial Condition · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 9.01 Financial Statements and Exhibits

• A. James 'Jim' Teague, Co-CEO of Enterprise Products Partners' general partner, announced his intent to retire effective January 4, 2027.
• W. Randall 'Randy' Fowler, currently Co-CEO, will become CEO upon Teague's retirement; Fowler has served as Co-CEO since January 2020 and as a director since September 2011.
• Teague joined Enterprise in 1999 and has 28 years with the company; Fowler has 48 years of finance and accounting experience in the energy industry.
• The press release notes that under Teague's leadership, Enterprise's enterprise value grew from $1.8 billion to almost $120 billion.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits

• Adjusted EBITDA rose 10% to $2.7 billion; Operational DCF was $2.1 billion, providing 1.8x coverage.
• Record volumes set in natural gas processing (8.3 Bcf/d), pipeline transportation (14.2 MMBPD), marine terminals (2.3 MMBPD), and NGL fractionation (1.9 MMBPD).
• Distribution declared at $0.55 per common unit, up 2.8% from prior year.
• 2026 growth capital spending expected between $2.3 and $2.6 billion, net of $596 million asset sale proceeds.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• The facility allows EPO to borrow up to $1.5 billion, expandable to $1.7 billion at EPO's election if conditions are met, with a variable interest rate.
• The new agreement replaces EPO's prior 364-day credit facility dated March 28, 2025, which had a maturity date of March 27, 2026.
• Borrowings mature on March 26, 2027, with an option to extend as non-revolving term loans for one additional year to March 26, 2028.
• The obligations are guaranteed by Enterprise Products Partners L.P. under a Guaranty Agreement; as of March 27, 2026, EPO had no borrowings outstanding under its revolving credit facilities.

1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 9.01 Financial Statements and Exhibits

• Fourth-quarter 2025 net income attributable to common unitholders was $1.6 billion, or $0.75 per fully diluted common unit, compared to $1.6 billion, or $0.74 per unit, in Q4 2024.
• Operational distributable cash flow was $7.9 billion for 2025, unchanged from 2024; distributions declared for 2025 increased 3.6% to $2.175 per common unit, marking the 27th consecutive year of distribution growth.
• Adjusted cash flow from operations was a record $8.7 billion for 2025, up from $8.6 billion in 2024; the payout ratio was 58% of Adjusted CFFO.
• Total capital investments, net of asset sale proceeds, were $5.6 billion in 2025; 2026 organic growth capital investments are expected to be $1.9–$2.3 billion, with sustaining capital of about $580 million.
• The Bahia NGL Pipeline began operations in December 2025, with a 40% interest sold to ExxonMobil; capacity expansion to 1 million BPD and extension to Exxon's Cowboy complex are scheduled for completion in Q4 2027.

• The transaction was disclosed under Item 7.01 Regulation FD Disclosure, indicating it was a voluntary disclosure of material information.
• The filing was signed by R. Daniel Boss, Executive Vice President and CFO of the general partner, on December 15, 2025.

7.01 Regulation FD Disclosure

• Enterprise Products Partners executed an agreement with ExxonMobil for ExxonMobil to acquire a 40% undivided joint interest in the Bahia natural gas liquids pipeline.
• The transaction is subject to regulatory approvals and is expected to close by early 2026.
• Upon closing, the companies plan to expand Bahia's capacity to 1 million barrels per day and build a 92-mile extension to ExxonMobil's Cowboy plant in Eddy County, New Mexico, expected by Q4 2027.
• Enterprise will operate the combined system; the 550-mile Bahia pipeline has begun commissioning and will start commercial operations with initial capacity of 600,000 barrels per day.

7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• On November 20, 2025, Enterprise Products Partners L.P. announced the election of Michael C. 'Tug' Hanley as Executive Vice President and Chief Commercial Officer, effective December 1, 2025.
• The commercial leadership team, including senior vice presidents for crude oil, petrochemicals, natural gas, pipelines, NGLs, and hydrocarbon marketing, will report to Hanley.
• The announcement was made via a press release filed as Exhibit 99.1 to the Form 8-K, under Item 8.01 Other Events.
• Enterprise is a major midstream energy provider with over 50,000 miles of pipelines and significant storage capacity.

8.01 Other Events · 9.01 Financial Statements and Exhibits