Summary of ENERGY TRANSFER PARTNERS, L.P.

Item 1.01. Entry into a Material Definitive Agreement.

On January 22, 2013, Energy Transfer Partners, L.P. (the "Partnership") completed its public offering (the "Offering") of $800,000,000 in aggregate principal amount of 3.60% Senior Notes due 2023 and $450,000,000 in aggregate principal amount of 5.15% Senior Notes due 2043 (collectively, the "Notes").

The Notes were issued under the indenture dated as of January 18, 2005 (the "Indenture"), between the Partnership, as issuer, the subsidiary guarantors named therein, and Wachovia Bank, National Association, as trustee, as supplemented by the Eleventh Supplemental Indenture thereto (the "Supplemental Indenture"), dated as of January 22, 2013, between the Partnership and U.S. Bank National Association, as successor trustee, with respect to the Notes.

The Partnership expects to receive net proceeds of approximately $1.24 billion from the Offering, after deducting the underwriters' discount, and intends to use the net proceeds to repay borrowings outstanding under the Partnership's revolving credit facility and for general partnership purposes.

The terms of the Notes and the Supplemental Indenture are further described in the Prospectus Supplement dated January 14, 2013 relating to the Notes, filed with the Securities and Exchange Commission (the "SEC") on January 16, 2013, and the accompanying Prospectus dated January 13, 2011, under the captions "Description of Notes" and "Description of the Debt Securities," respectively, which descriptions are incorporated herein by reference to Exhibit 99.2 of the Partnership's Current Report on Form 8-K, filed with the SEC on January 16, 2013. Such descriptions do not purport to be complete and are qualified by reference to the Indenture and the Supplemental Indenture, which are filed as Exhibits 4.1 and 4.2, respectively, hereto and are incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

Exhibit
Number       Description

4.1          Indenture dated as of January 18, 2005 between Energy Transfer
             Partners, L.P., as issuer, the subsidiary guarantors named therein,
             and Wachovia Bank, National Association, as trustee (filed as Exhibit
             4.1 to Form 8-K of Energy Transfer Partners, L.P. filed January 19,
             2005 and incorporated herein by reference).

4.2          Eleventh Supplemental Indenture dated as of January 22, 2013 by and
             between Energy Transfer Partners, L.P., as issuer, and U.S. Bank
             National Association (as successor to Wachovia Bank, National
             Association), as trustee.

4.3          Forms of Notes (included in Exhibit 4.2 above).