General

What is Crestwood Equity’s ticker symbol and where is it listed?

Crestwood Equity is listed with the New York Stock Exchange under the ticker symbol “CEQP”.

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Does Crestwood Equity pay a distribution?

Yes. Crestwood Equity pays a distribution in accordance with Crestwood Equity’s partnership agreement. Distributions are paid quarterly in February, May, August and November.

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Can I purchase units directly from Crestwood Equity?

No. Crestwood Equity does not offer a direct investment program and CEQP units must be purchased through a broker.

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Does Crestwood Equity have a distribution reinvestment plan (“DRIP”)?

No. Crestwood Equity does not offer a DRIP program at this time.

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When will I receive my K-1 tax package?

Crestwood strives to deliver K-1 tax packages to our unitholders in a timely manner each year. Typically, K-1 tax packages are mailed by the first week of March.

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Who do I contact if I lost my K-1 tax package or need a prior year K-1 tax package?

Due to our large number of unitholders, Crestwood Equity and Crestwood Midstream offer a tax package support center that can assist unitholders obtain K-1 tax packages, correct account information, and answer basic questions. Unitholders may contact tax package support by dialing (800) 230-1134 for Crestwood Equity and (877) 210-0557 for Crestwood Midstream.

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Who is Crestwood Equity’s transfer agent and how do I contact them?

American Stock Transfer & Trust Company
59 Maiden Lane
New York, NY 10038
Tel: 212-936-5100
www.amstock.com

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What is a Master Limited Partnership (“MLP”)?

A Master Limited Partnership (MLP) is a publicly traded partnership with a pass-through tax structure. A share in an MLP is called a “unit,” and owning MLP units makes you a limited partner. Owning units in an MLP is different from owning corporate stock in a number of ways, most notably their taxation. As a limited partner, each unitholder is allocated on paper a proportionate share of the MLP’s income, gain, deductions, losses, and credits for tax purposes and entitled to receive any distribution paid by the partnership. This is reported annually on the K-1 form versus a 1099 for corporation dividends.

For more information on Master Limited Partnerships, please visit: www.mlpassociation.org.

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What is the difference between a distribution and a dividend?

A distribution is paid by a partnership to its partners. Under the tax code, distributions are a return of capital and are generally tax-deferred. The cost basis in your partnership units (the amount you paid, increased or decreased by various adjustments) is lowered by the amount of the distribution.

A dividend is paid by a corporation to its stockholders and is generally taxable in the year it is received.

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Crestwood Equity and Crestwood Midstream Merger Questions

What was the exchange ratio?

For every one unit of CMLP owned at the close of business on September 30, 2015 CMLP investors received 2.75 units of Crestwood Equity.

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Will I still be entitled to receive a distribution post-merger?

Yes. Crestwood Equity’s pays a distribution in accordance with Crestwood Equity’s partnership agreement. Distributions are paid quarterly in February, May, August and November.

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What K-1 tax package will I receive for the fiscal year 2015?

Crestwood Midstream holders will receive two K-1 tax packages for the fiscal year 2015. For the period January 1, 2015 to September 30, 2015 Crestwood Midstream holders will receive a Crestwood Midstream K-1 tax package. For the period October 1, 2015 to December 31, 2015, Crestwood Midstream unitholders will receive a Crestwood Equity K-1 tax package as a result of the unit exchange with CEQP. Both tax packages will be mailed to unitholders in March 2016.

If you only owned Crestwood Equity units prior to September 30, 2015, then you will only receive one K-1 tax package for the fiscal year 2015.

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Contact: 700 Louisiana St, Suite 2550 Houston TX 77002.