Business Wire | Dec 17, 2020 06:35AM EST

NGL Energy Partners LP Announces Quarterly Cash Distribution for Class B and Class C Preferred Units

Dec. 17, 2020

TULSA, Okla.--(BUSINESS WIRE)--Dec. 17, 2020--NGL Energy Partners LP (NYSE: NGL) announced today that the Board of Directors of its general partner declared a distribution for the quarter ending December 31, 2020 to be paid to the holders of the Partnership's 9.00% Class B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units ("Class B Preferred Units") and the 9.625% Class C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units ("Class C Preferred Units") in accordance with the terms outlined in NGL's partnership agreement. Each of the Class B Preferred Units quarterly distribution of $0.5625 per unit and the Class C Preferred Units quarterly distribution of $0.60156 per unit will be made on January 15, 2021 to holders of record on January 1, 2021.

About NGL Energy Partners LP

NGL Energy Partners LP, a Delaware limited partnership, is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of water generated as part of the oil and natural gas production process. For further information, visit the Partnership's website at www.nglenergypartners.com.

This release is a qualified notice under Treasury Regulation Section 1.1446-4(b).Brokers and nominees should treat 100% of NGL Energy Partner LP's distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business.Therefore, distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

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CONTACT: NGL Energy Partners LP Trey Karlovich, 918.481.1119 Executive Vice President and Chief Financial Officer Trey.Karlovich@nglep.com or Linda Bridges, 918.481.1119 Senior Vice President - Finance and Treasurer Linda.Bridges@nglep.com