Energy Transfer LP — Director's Dealing 2025

Dec 9, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Energy Transfer LP (ET)
CIK: 0001276187
Period of Report: 2025-12-05

Reporting Person: Sturrock Troy (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-05	Common Units	F	22745	$16.60	Disposed	356413	Direct
2025-12-05	Common Units	A	56775	—	Acquired	413188	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-12-05	Cash Units	$	A	18925	Acquired		Common Units (18925)	Direct

Footnotes

F1: Payment of tax liability by withholding securities incident to the vesting of Restricted Units issued under one of the Energy Transfer LP Long-Term Incentive Plans (LTIP). This method is the default option for payment of tax liability upon vesting of LTIP awards.

F2: An award of Restricted Units granted under the Energy Transfer LP Long-Term Incentive Plan that will vest 60% on December 5, 2028 and the remaining 40% on December 5, 2030 generally contingent upon the reporting person's continued employment with the issuer or one of its affiliates on each applicable vesting date.

F3: An award of cash units granted under the Energy Transfer LP Long-Term Cash Restricted Unit Plan, scheduled to vest one-third on December 5, 2026, one-third on December 5, 2027, and one-third on December 5, 2028, generally contingent upon the reporting person's continued employment with the Issuer or one of its affiliates on each applicable vesting date. The cash units will be settled solely in cash at the fair market value of the underlying common units based on the average closing price of a common unit for the ten (10) trading days immediately preceding the applicable vesting date.