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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