CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS
Our reports, filings and other public announcements may from time to time contain statements that do not
directly or exclusively relate to historical facts. Such statements are “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. You can typically identify forward-looking
statements by the use of forward-looking words, such as “may,” “could,” “project,” “believe,” “anticipate,”
“expect,” “estimate,” “potential,” “plan,” “forecast” and other similar words.
All statements that are not statements of historical facts, including statements regarding our future
financial position, business strategy, budgets, projected costs and plans and objectives of management for future
operations, are forward-looking statements.
These forward-looking statements reflect our intentions, plans, expectations, assumptions and beliefs about
future events and are subject to risks, uncertainties and other factors, many of which are outside our control.
Important factors that could cause actual results to differ materially from the expectations expressed or implied
in the forward-looking statements include known and unknown risks. Known risks and uncertainties include,
but are not limited to, the risks set forth in “Item 1A. Risk Factors” as well as the following risks and
uncertainties:
• the extent of changes in commodity prices and the demand for our products and services, our ability to
effectively limit a portion of the adverse impact of potential changes in prices through derivative
financial instruments, and the potential impact of price and producers’ access to capital on natural gas
drilling, demand for our services, and the volume of NGLs and condensate extracted;
• general economic, market and business conditions;
• the level and success of natural gas drilling around our assets, the level and quality of gas production
volumes around our assets and our ability to connect supplies to our gathering and processing systems in
light of competition;
• our ability to grow through acquisitions, contributions from affiliates, or organic growth projects, and
the successful integration and future performance of such assets;
• our ability to access the debt and equity markets and the resulting cost of capital, which will depend on
general market conditions, our financial and operating results, inflation rates, interest rates and our
ability to effectively limit a portion of the adverse effects of potential changes in interest rates by
entering into derivative financial instruments, our ability to comply with the covenants in our loan
agreements and our debt securities, as well as our ability to maintain our credit ratings;
• the demand for NGL products by the petrochemical, refining or other industries or by the fuel markets;
• our ability to purchase propane from our principal suppliers and make associated profitable sales
transactions for our wholesale propane logistics business;
• our ability to construct facilities in a timely fashion, which is partially dependent on obtaining required
construction, environmental and other permits issued by federal, state and municipal governments, or
agencies thereof, the availability of specialized contractors and laborers, and the price of and demand for
materials;
• the creditworthiness of counterparties to our transactions;
• weather and other natural phenomena, including their potential impact on demand for the commodities
we sell and the operation of company-owned and third-party-owned infrastructure;
• new, additions to and changes in laws and regulations, particularly with regard to taxes, safety and
protection of the environment, including climate change legislation and hydraulic fracturing regulations,
or the increased regulation of our industry;
• our ability to obtain insurance on commercially reasonable terms, if at all, as well as the adequacy of
insurance to cover our losses;
• industry changes, including the impact of consolidations, increased delivery of liquefied natural gas to
the United States, alternative energy sources, technological advances and changes in competition; and
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