ET PREFERRED UNITS
On April 1, 2021, Energy Transfer Operating, L.P. merged with a wholly-owned subsidiary of ET. Pursuant to the terms of the merger, at closing, each issued and outstanding preferred unit representing a limited partner interest in ETO was converted into the right to receive one newly-created unit representing a limited partner interest in ET with substantially equivalent preferences, rights, powers, duties and obligations as the ETO preferred unit for which it was exchanged. Following that merger, ETO was merged into ET, with ET as the surviving entity. For additional information related to this transaction, please click here.
Energy Transfer (or its subsidiary, Energy Transfer Operating, L.P.) has issued multiple series of preferred units. Our Series C, D and E preferred units are listed on the NYSE under ticker symbols ETprC, ETprD and ETprE.
For prospectus information regarding the preferred units, please see below:
TREASURY REGULATION QUALIFIED NOTICES REGARDING EFFECTIVELY CONNECTED INCOME AND CUMULATIVE NET INCOME
The following serves as qualified notice to nominees as provided for under Treasury Regulation section 1.1446:
Pursuant to Treasury Regulation section 1.1446-4(b)(4) and (d), please note that 100 percent of Energy Transfer LP’s and Energy Transfer Operating, L.P.’s distributions (including distributions on Series A, B, C, D, E, F, G and H perpetual preferred units) to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Energy Transfer LP’s and Energy Transfer Operating, L.P.’s distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate. Nominees, and not Energy Transfer LP or Energy Transfer Operating, L.P., are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors. Pursuant to Treasury Regulation section 1.1446(f)-4(c)(2)(iii), 100 percent of the distributions on the Series A, B, C, D, E, F, G and H perpetual preferred units are expected to be from amounts in excess of Energy Transfer LP’s cumulative net income.