Exhibit 99
 Excerpt from Notes 2 and 13 to Fiscal Year 2009 Consolidated Financial Statements of
UGI Corporation and Subsidiaries
 Equity-Based Compensation
   UGI Equity-Based Compensation Plans and Awards.




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##### 



UGI Stock Option Awards.
 WeightedWeighted
    
    
    Total
    
    
    AverageAverage
    
    
    Intrinsic
    
    
    Contract TermShares
    
    
    Option Price
    
    
    Value
    
    
    (Years)Shares under option  September 30, 2006
    
    
    5,843,852
    
    
    $
    17.06Granted
    
    
    1,326,800
    
    
    $
    27.12Exercised
    
    
    (812,573
    )
    
    $
    13.20
    
    
    $
    11.8Shares under option  September 30, 2007
    
    
    6,358,079
    
    
    $
    19.65Granted
    
    
    1,423,800
    
    
    $
    27.25Cancelled
    
    
    (147,300
    )
    
    $
    27.03Exercised
    
    
    (982,334
    )
    
    $
    15.64
    
    
    $
    11.2Shares under option  September 30, 2008
    
    
    6,652,245
    
    
    $
    21.71
    
    
    $
    30.9
    
    
    
    6.6Granted
    
    
    1,411,200
    
    
    $
    24.65Forfeited
    
    
    (87,334
    )
    
    $
    25.81Exercised
    
    
    (474,618
    )
    
    $
    13.30
    
    
    $
    6.0Shares under option  September 30, 2009
    
    
    7,501,493
    
    
    $
    22.74
    
    
    $
    23.2
    
    
    
    6.4Options exercisable  September 30, 2007
    
    
    3,568,746
    
    
    $
    16.75Options exercisable  September 30, 2008
    
    
    3,960,778
    
    
    $
    18.93Options exercisable  September 30, 2009
    
    
    4,744,054
    
    
    $
    21.00
    
    
    $
    21.9
    
    
    
    5.3Non-vested options  September 30, 2009
    
    
    2,757,439
    
    
    $
    25.74
    
    
    $
    1.3
    
    
    
    8.3
   Range of exercise prices$6.88 -
    
    
    $16.25 -
    
    
    $22.38 -$15.65
    
    
    $21.73
    
    
    $28.02Options outstanding at September 30, 2009:Number of options
    
    
    529,325
    
    
    
    2,653,102
    
    
    
    4,319,066Weighted average remaining contractual life (in years)
    
    
    2.8
    
    
    
    4.7
    
    
    
    7.8Weighted average exercise price
    
    $
    11.82
    
    
    $
    19.52
    
    
    $
    26.07Options exercisable at September 30, 2009Number of options
    
    
    529,325
    
    
    
    2,533,102
    
    
    
    1,681,627Weighted average exercise price
    
    $
    11.82
    
    
    $
    19.47
    
    
    $
    26.19
 UGI Stock Option Fair Value Information.
  2




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##### 



2009
    
    2008
    
    2007Expected life of option
    
    5.75 years
    
    5.75 - 6.75 years
    
    6 - 6.75 yearsWeighted average volatility
    
    23.7%
    
    20.9%
    
    21.5%Weighted average dividend yield
    
    3.0%
    
    2.8%
    
    2.9%Expected volatility
    
    20.3% - 23.7%
    
    20.3% - 20.9%
    
    20.8% - 21.5%Expected dividend yield
    
    2.9% - 3.2%
    
    2.8% - 2.9%
    
    2.8% - 2.9%Risk free rate
    
    1.7% - 3.0%
    
    3.4% - 3.6%
    
    4.3% - 4.7%
 UGI Unit Awards.
   Grants Awarded in Fiscal2009
    
    
    2008
    
    
    2007Risk-free rate
    
    
    1.0
    %
    
    
    2.7
    %
    
    
    4.7
    %Expected life
    
    3 years
    
    
    3 years
    
    
    3 yearsExpected volatility
    
    
    27.1
    %
    
    
    20.5
    %
    
    
    19.6
    %Dividend yield
    
    
    3.2
    %
    
    
    3.1
    %
    
    
    2.6
    %
   3




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##### 



Total
    
    
    Vested
    
    
    Non-VestedWeighted
    
    
    
    
    
    
    Weighted
    
    
    
    
    
    
    WeightedAverage
    
    
    
    
    
    
    Average
    
    
    
    
    
    
    AverageNumber of
    
    
    Grant Date
    
    
    Number of
    
    
    Grant Date
    
    
    Number of
    
    
    Grant DateUGI
    
    
    Fair Value
    
    
    UGI
    
    
    Fair Value
    
    
    UGI
    
    
    Fair ValueUnits
    
    
    (per Unit)
    
    
    Units
    
    
    (per Unit)
    
    
    Units
    
    
    (per Unit)September 30, 2008
    
    
    881,675
    
    
    $
    21.82
    
    
    
    527,061
    
    
    $
    18.32
    
    
    
    354,614
    
    
    $
    27.01UGI Performance Units:Granted
    
    
    216,250
    
    
    $
    27.91
    
    
    
    
    
    
    $
    
    
    
    
    216,250
    
    
    $
    27.91Forfeited
    
    
    (25,666
    )
    
    $
    28.67
    
    
    
    
    
    
    $
    
    
    
    
    (25,666
    )
    
    $
    28.67Vested
    
    
    
    
    
    $
    
    
    
    
    192,753
    
    
    $
    25.92
    
    
    
    (192,753
    )
    
    $
    25.92Unit awards paid
    
    
    (158,150
    )
    
    $
    21.01
    
    
    
    (158,150
    )
    
    $
    21.01
    
    
    
    
    
    
    $
    Performance criteria not met
    
    
    
    
    
    $
    
    
    
    
    
    
    
    $
    
    
    
    
    
    
    
    $
    UGI Stock Units:Granted (a)
    
    
    52,767
    
    
    $
    24.60
    
    
    
    
    
    
    $
    
    
    
    
    52,767
    
    
    $
    24.60Vested
    
    
    
    
    
    $
    
    
    
    
    62,367
    
    
    $
    24.85
    
    
    
    (62,367
    )
    
    $
    24.85Unit awards paid
    
    
    (88,449
    )
    
    $
    17.30
    
    
    
    (88,449
    )
    
    $
    17.30
    
    
    
    
    
    
    $
    September 30, 2009
    
    
    878,427
    
    
    $
    23.89
    
    
    
    535,582
    
    
    $
    21.20
    
    
    
    342,845
    
    
    $
    28.09
 (a)
    
    Generally, shares granted under UGI Stock Unit awards are paid approximately 70% in
shares. UGI Stock Unit awards granted in Fiscal 2008 and Fiscal 2007 were 37,732 and 44,729,
respectively.  2009
    
    
    2008
    
    
    2007UGI Performance Unit awards:Number of original awards granted
    
    
    163,450
    
    
    
    185,300
    
    
    
    193,600Fiscal year granted
    
    
    2006
    
    
    
    2005
    
    
    
    2004Payment of awards:Shares of UGI Common Stock issued
    
    
    117,847
    
    
    
    0
    
    
    
    117,987Cash paid
    
    $
    3.1
    
    
    $
    0
    
    
    $
    2.8UGI Stock Unit awards:Number of original awards granted
    
    
    88,449
    
    
    
    40,000
    
    
    
    86,000Payment of awards:Shares of UGI Common Stock issued
    
    
    58,376
    
    
    
    20,000
    
    
    
    51,400Cash paid
    
    $
    0.8
    
    
    $
    0.6
    
    
    $
    1.1
     4