Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 FIRST
AMENDMENT TO THE FIFTH AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT 

This FIRST AMENDMENT TO THE FIFTH AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT (this “Amendment”), dated as of April
12, 2016, is entered into by and among the following parties: 
  

	 	(i)	P&L RECEIVABLES COMPANY, LLC, a Delaware limited liability company, as Seller; 

  

	 	(ii)	PEABODY ENERGY CORPORATION, a Delaware corporation (“Peabody”), as Servicer; 

  

	 	(iii)	the various parties identified on the signature pages hereto as Sub-Servicers; and 

  

	 	(iv)	PNC BANK, NATIONAL ASSOCIATION (the “Administrator”), as Administrator and as the sole Purchaser Agent, Committed Purchaser, LC Bank and LC Participant on the date hereof. 

RECITALS 
 1. The parties hereto
have entered into that certain Fifth Amended and Restated Receivables Purchase Agreement, dated as of March 25, 2016 (as amended, amended and restated, supplemented or otherwise modified through the date hereof, the “Agreement”).

 2. The parties hereto desire to amend the Agreement as hereinafter set forth. 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as
follows: 
 SECTION 1. Certain Defined Terms. Capitalized terms that are used but not defined herein shall have the
meanings set forth in the Agreement. 
 SECTION 2. Amendment to the Agreement. The Agreement is hereby amended as
follows: 
 2.1 Section 2.2 of the Agreement is replaced in its entirety with the following: 

Section 2.2 Termination Events. 

If any of the Termination Events set forth in Exhibit V shall occur, the Administrator may (with the
consent of the Majority Purchaser Agents) and shall (at the direction of the Majority Purchaser Agents), by notice to the Seller, declare the Facility Termination Date to have occurred (in which case the Facility Termination Date shall be deemed to
have occurred); provided, that the Facility Termination Date shall automatically occur (without any requirement for the passage of time or the giving of notice) upon either (i) the occurrence of any event described in paragraph
(f) 

 
of Exhibit V, other than such an event arising from a Specified Chapter 11 Case, or (ii) if a Specified Chapter 11 Case has occurred, the Bankruptcy Court shall not have
entered an Interim Order by May 1, 2016. Upon any such declaration, occurrence or deemed occurrence of the Facility Termination Date, the Purchasers, the Purchaser Agents and the Administrator shall have, in addition to the rights and remedies
that they may have under this Agreement, all other rights and remedies provided after default under the UCC and under other applicable law, which rights and remedies shall be cumulative. 

For purposes of this Section 2.2, the following terms shall have the following meanings assigned thereto: 

“Bankruptcy Court” means the United States Bankruptcy Court for the Eastern District of Missouri or such other
court as shall have jurisdiction over the Specified Chapter 11 Cases. 
 “Interim Order” means an order of
the Bankruptcy Court in substantially the form of Annex J, with changes to such form as are reasonably satisfactory to the Administrator and the Majority Purchaser Agents authorizing and approving amendments to the Agreement and each of the
other Transaction Documents in form and substance satisfactory to the Administrator and each of the Purchaser Agents in their sole discretion pursuant to Sections 105, 362(d), 363(b)(1), 363(f), 363(m), 364(c), 364(d), 364(e) and 365 of the
Bankruptcy Code and Bankruptcy Rule 4001 providing other relief, in form and substance satisfactory to the Administrator and each of the Purchaser Agents in their sole discretion, providing for, among other things, (i) assumption of the Contribution
Agreement as so amended and continued sale and contribution of Receivables to the Seller pursuant thereto, (ii) assumption of the Purchase and Sale Agreement as so amended and continued sale of Receivables to the Contributor pursuant thereto and
(iii) superpriority administrative status for all claims of the Seller, the Administrator and the Purchasers against Peabody and its Subsidiaries (other than the Seller) under the Transaction Documents as so amended. 

“Specified Chapter 11 Cases” means any Chapter 11 cases of Peabody and certain of its Subsidiaries (other than
the Seller) initiated on or prior to April 13, 2016 and jointly administered under the same case number in the Bankruptcy Court. For the avoidance of doubt, the Specified Chapter 11 Cases shall not include any Insolvency Proceeding with respect
to the Seller. 
 2.2 Annex J attached hereto is added to the Agreement and shall constitute Annex J thereto. 

  
 2 

 SECTION 3. Matters regarding Specified Chapter 11 Cases. For the avoidance of
doubt, other than as expressly set forth herein, this Amendment shall not be construed as a waiver by any party of any Termination Event or Unmatured Termination Event, or of any rights or remedies in respect thereof, that may arise from the
occurrence of a Specified Chapter 11 Case. 
 SECTION 4. Representations and Warranties. Each of the Seller and the
Servicer hereby represents and warrants to the Administrator, the Purchaser Agents and the Purchasers as follows: (i) the execution and delivery by such Person of this Amendment, and the performance of each of its obligations under this
Amendment and the Agreement, as amended hereby, are within each of its organizational powers and have been duly authorized by all necessary action on its part, and (ii) this Amendment and the Agreement, as amended hereby, are such Person’s
valid and legally binding obligations, enforceable in accordance with their respective terms. 
 SECTION 5. Effect of Amendment;
Ratification. All provisions of the Agreement, as expressly amended and modified by this Amendment, shall remain in full force and effect. After this Amendment becomes effective, all references in the Agreement (or in any other Transaction
Document) to “the Receivables Purchase Agreement”, “this Agreement”, “hereof”, “herein” or words of similar effect, in each case referring to the Agreement shall be deemed to be references to the Agreement as
amended by this Amendment. This Amendment shall not be deemed, either expressly or impliedly, to waive, amend or supplement any provision of the Agreement other than as specifically set forth herein. The Agreement, as amended by this Amendment, is
hereby ratified and confirmed in all respects. 
 SECTION 6. Effectiveness. This Amendment shall become effective as of
the date hereof, upon receipt by the Administrator of duly executed counterparts of this Amendment. 
 SECTION 7.
Counterparts. This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together
shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart hereof. 

SECTION 8. Governing Law. This Amendment shall be governed by, and construed in accordance with, the internal laws of the
State of New York (including for such purposes Sections 5-1401 and 5-1402 of the General Obligations Law of the State of New York). 

SECTION 9. Section Headings. The various headings of this Amendment are included for convenience only and shall not affect
the meaning or interpretation of this Amendment, the Agreement or any provision hereof or thereof. 
 SECTION 10. Successors and
Assigns. This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns. 

  
 3 

 SECTION 11. Severability. Each provision of this Amendment shall
be severable from every other provision of this Amendment for the purpose of determining the legal enforceability of any provision hereof, and the unenforceability of one or more provisions of this Amendment in one jurisdiction shall not have the
effect of rendering such provision or provisions unenforceable in any other jurisdiction. 
 [SIGNATURES
BEGIN ON NEXT PAGE] 

  
 4 

 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written
above. 
  

							
		 	THE SELLER:
			
		 		 	P&L RECEIVABLES COMPANY, LLC,
		 		 	as Seller
				
		 		 	By:	 	 /s/ James A. Tichenor

		 		 	Name:	 	James A. Tichenor
		 		 	Title:	 	Vice President & Treasurer
		
		 	THE SERVICER:
			
		 		 	PEABODY ENERGY CORPORATION, a debtor and debtor-in-possession under chapter 11 of the Bankruptcy Code, as Servicer
				
		 		 	By:	 	 /s/ James A. Tichenor

		 		 	Name:	 	James A. Tichenor
		 		 	Title:	 	Vice President & Treasurer

  
 First Amendment to

 Fifth Amended and Restated Receivables Purchase Agreement 

							
		 	THE SUB-SERVICERS:
			
		 		 	PEABODY ARCLAR MINING, LLC;
		 		 	PEABODY MIDWEST MINING, LLC;
		 		 	TWENTYMILE COAL, LLC;
		 		 	PEABODY CABALLO MINING, LLC;
		 		 	COALSALES II, LLC;
		 		 	PEABODY POWDER RIVER MINING, LLC;
		 		 	PEABODY HOLDING COMPANY, LLC;
		 		 	PEABODY BEAR RUN MINING, LLC;
		 		 	PEABODY WILD BOAR MINING, LLC;
		 		 	PEABODY GATEWAY NORTH MINING, LLC;
		 		 	PEABODY COALTRADE, LLC; and
		 		 	PEABODY COALSALES, LLC,
		 		 	each, a debtor and debtor-in-possession under chapter 11 of the Bankruptcy Code, as a Sub-Servicer
				
		 		 	By:	 	 /s/ James A. Tichenor

		 		 	Name:	 	James A. Tichenor
		 		 	Title:	 	Vice President & Treasurer of each of the foregoing Sub-Servicers
			
		 		 	PEABODY WESTERN COAL COMPANY, a debtor and debtor-in-possession under chapter 11 of the Bankruptcy Code,
		 		 	as a Sub-Servicer
				
		 		 	By:	 	 /s/ Douglas D. Loucks

		 		 	Name:	 	Douglas D. Loucks
		 		 	Title:	 	Treasurer

  
 First Amendment to

 Fifth Amended and Restated Receivables Purchase Agreement 

							
		 	PNC’S PURCHASER GROUP:
			
		 		 	PNC BANK, NATIONAL ASSOCIATION,
		 		 	as Purchaser Agent for its Purchaser Group and as Committed Purchaser
				
		 		 	By:	 	 /s/ Michael Brown

		 		 	Name:	 	Michael Brown
		 		 	Title:	 	Senior Vice President

  
 First Amendment to

 Fifth Amended and Restated Receivables Purchase Agreement 

							
		 		 	PNC BANK, NATIONAL ASSOCIATION,
		 		 	as an LC Participant for its Purchaser Group and as the LC Bank
				
		 		 	By:	 	 /s/ Michael Brown

		 		 	Name:	 	Michael Brown
		 		 	Title:	 	Senior Vice President

  
 First Amendment to

 Fifth Amended and Restated Receivables Purchase Agreement 

							
		 	THE ADMINISTRATOR:
			
		 		 	PNC BANK, NATIONAL ASSOCIATION,
		 		 	as Administrator
				
		 		 	By:	 	 /s/ Michael Brown

		 		 	Name:	 	Michael Brown
		 		 	Title:	 	Senior Vice President

  
 First Amendment to

 Fifth Amended and Restated Receivables Purchase Agreement 

 ANNEX J 

to Receivables Purchase Agreement 

FORM OF INTERIM ORDER 

(As filed with the related motion in the Specified Chapter 11 Cases) 

  
 First Amendment to

 Fifth Amended and Restated Receivables Purchase AgreementEX-4.4

  

 
 ENTERPRISE PRODUCTS OPERATING LLC 

AS ISSUER, 
 ENTERPRISE PRODUCTS
PARTNERS L.P. 
 AS PARENT GUARANTOR, 

and 
 WELLS FARGO BANK, 

NATIONAL ASSOCIATION, 
 AS TRUSTEE

  
  

TWENTY-EIGHTH SUPPLEMENTAL INDENTURE 

Dated as of April 13, 2016 

to 
 Indenture dated as of
October 4, 2004 
  
  

2.850% Senior Notes due 2021 

3.950% Senior Notes due 2027 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I
	   

	 THE NOTES
	   

	 SECTION 1.1
	 	Form	  	 	2	  
	 SECTION 1.2
	 	Title, Amount, Stated Maturity and Interest	  	 	3	  
	 SECTION 1.3
	 	Registrar and Paying Agent	  	 	4	  
	 SECTION 1.4
	 	Transfer and Exchange	  	 	4	  
	 SECTION 1.5
	 	Guarantee of the Notes	  	 	4	  
	 SECTION 1.6
	 	Defeasance and Discharge	  	 	4	  
	 SECTION 1.7
	 	Amendment to Section 4.12 of the Original Indenture	  	 	4	  
	 SECTION 1.8
	 	Amendment to Section 4.13 of the Original Indenture	  	 	5	  
	
	 ARTICLE II
	   

	 REDEMPTION
	   

			
	 SECTION 2.1
	 	Redemption	  	 	5	  
	
	 ARTICLE III
	   

	 MISCELLANEOUS PROVISIONS
	   

			
	 SECTION 3.1
	 	Table of Contents, Headings, etc.	  	 	5	  
	 SECTION 3.2
	 	Counterpart Originals	  	 	5	  
	 SECTION 3.3
	 	Governing Law	  	 	6	  
	 SECTION 3.4
	 	Certain Trustee Matters	  	 	6	  

  

					
	 Exhibit A
	 	Form of the 2.850% Senior Notes due 2021	  	
	 Exhibit B
	 	Form of the 3.950% Senior Notes due 2027	  	

  
 i 

 THIS TWENTY-EIGHTH SUPPLEMENTAL INDENTURE dated as of April 13, 2016 (this
“Twenty-Eighth Supplemental Indenture”), is among Enterprise Products Operating LLC, a Texas limited liability company (the “Issuer”), Enterprise Products Partners L.P., a Delaware limited partnership (the “Parent
Guarantor”), and Wells Fargo Bank, National Association, a national banking association, as trustee (the “Trustee”). Each capitalized term used but not defined in this Twenty-Eighth Supplemental Indenture shall have the meaning
assigned to such term in the Original Indenture (as defined below). 
 RECITALS: 

WHEREAS, Enterprise Products Operating L.P. (the “Original Issuer”) and the Parent Guarantor have executed and delivered to the
Trustee an Indenture, dated as of October 4, 2004 (the “Original Indenture”), providing for the issuance by the Original Issuer from time to time of its debentures, notes, bonds or other evidences of indebtedness, issued and to be
issued in one or more series unlimited as to principal amount (the “Debt Securities”), and the guarantee by each Guarantor of the Debt Securities (the “Guarantee”); and 

WHEREAS, the Original Issuer, the Issuer and the Parent Guarantor have executed and delivered to the Trustee a Tenth Supplemental Indenture,
dated as of June 30, 2007, providing for the Issuer as the successor issuer; and 
 WHEREAS, the Original Indenture, as amended and
supplemented by the Tenth Supplemental Indenture, shall be referred to herein as the “Base Indenture”; and 
 WHEREAS, the Base
Indenture, as amended and supplemented from time to time, including without limitation pursuant to this Twenty-Eighth Supplemental Indenture, shall be referred to herein as the “Indenture”; and 

WHEREAS, on or before the date hereof the Issuer has issued several series of Debt Securities pursuant to previous supplements to the Base
Indenture; and 
 WHEREAS, the Issuer has duly authorized and desires to cause to be issued pursuant to the Indenture, two new series of
Debt Securities (collectively, the “Notes”), designated as set forth in this Twenty-Eighth Supplemental Indenture; and 
 WHEREAS,
all of the Notes will be guaranteed by the Parent Guarantor as provided in Article XIV of the Original Indenture; and 
 WHEREAS, the Issuer
desires to cause the issuance of the Notes pursuant to Sections 2.01 and 2.03 of the Original Indenture, which sections permit the execution of indentures supplemental thereto to establish the form and terms of Debt Securities of any series; and

 WHEREAS, pursuant to Section 9.01 of the Original Indenture, the Issuer and the Parent Guarantor have requested that the Trustee
join in the execution of this Twenty-Eighth Supplemental Indenture to establish the form and terms of the Notes; and 
 WHEREAS, all things
necessary have been done to make the Notes, when executed by the Issuer and authenticated and delivered under the Indenture and duly issued by the Issuer, and 

 
the Guarantee of the Parent Guarantor, when the Notes are duly issued by the Issuer, the valid obligations of the Issuer and the Parent Guarantor, respectively, and to make this Twenty-Eighth
Supplemental Indenture a valid agreement of the Issuer and the Parent Guarantor, enforceable in accordance with the terms hereof; 
 NOW,
THEREFORE, the Issuer, the Parent Guarantor and the Trustee hereby agree that the following provisions shall supplement the Base Indenture: 

ARTICLE I 
 THE NOTES

 SECTION 1.1 Form. 

(1) The 2.850% Senior Notes due 2021 (as defined below) and the related Trustee’s certificate of authentication shall be substantially in
the form of Exhibit A to this Twenty-Eighth Supplemental Indenture; and 
 (2) the 3.950% Senior Notes due 2027 (as defined below) and
the related Trustee’s certificate of authentication shall be substantially in the form of Exhibit B to this Twenty-Eighth Supplemental Indenture; 

in each case, with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by the Indenture, and may have such
letters, numbers or other marks of identification and such legends or endorsements placed thereon as the Issuer may deem appropriate or as may be required or appropriate to comply with any laws or with any rules made pursuant thereto or with the
rules of any securities exchange or automated quotation system on which any of the Notes may be listed or traded, or to conform to general usage, or as may, consistently with the Indenture, be determined by the officers executing such Notes, as
evidenced by their execution thereof. 
 Such Exhibits A and B are hereby incorporated into this Twenty-Eighth Supplemental
Indenture. The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of this Twenty-Eighth Supplemental Indenture, and to the extent applicable, the Issuer, the Parent Guarantor and the Trustee, by their
execution and delivery of this Twenty-Eighth Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. 

The Notes shall be issued only as Registered Securities. The Notes shall be issued upon original issuance in whole in the form of one or more
Global Securities (the “Book-Entry Notes”). Each Book-Entry Note shall represent such of the Outstanding Notes as shall be specified therein and shall provide that it shall represent the aggregate amount of Outstanding Notes from time to
time endorsed thereon and that the aggregate amount of Outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Book-Entry Note to reflect the
amount, or any increase or decrease in the amount, of Outstanding Notes represented thereby shall be made by the Trustee in accordance with written instructions or such other written form of instructions as is customary for the Depositary, from the
Depositary or its nominee on behalf of any Person having a beneficial interest in the Book-Entry Note. The Issuer initially appoints The Depository Trust Company to act as Depositary with respect to the Book-Entry Notes. 

  
 2 

 SECTION 1.2 Title, Amount, Stated Maturity and Interest. 

There are hereby established two new series of Debt Securities to be issued under the Indenture, that are designated respectively as: 

 

	 	(1)	the “2.850% Senior Notes due 2021”; and 

  

	 	(2)	the “3.950% Senior Notes due 2027.” 

 Each series of Notes is referred to herein as
so designated. The Trustee shall initially authenticate and deliver for original issue: 
  

	 	(a)	2.850% Senior Notes due 2021 in an initial aggregate principal amount of $575,000,000; and 

  

	 	(b)	3.950% Senior Notes due 2027 in an initial aggregate principal amount of $575,000,000, 

 in each case, upon
delivery to the Trustee of a Company Order for the authentication and delivery of such Notes. 
 Notes of each series may be issued on any
Business Day on or after April 13, 2016. The aggregate principal amount of each series of the Notes that may be authenticated and delivered pursuant to the Indenture is unlimited. The aggregate principal amount of each series of the Notes
to be issued under the Indenture may be increased at any time, and each such series of Notes may be reopened for issuances of additional Notes of such series, upon a Company Order, without the consent of any Holder and without any further supplement
or amendment to the Indenture; provided that no such additional Notes of any series may be issued at a price that would cause such Notes to have “original issue discount” within the meaning of the Internal Revenue Code of 1986, as
amended. Each such Company Order for the issuance of additional Notes shall specify the series of the Notes to be issued, the principal amount of the Notes of such series to be authenticated, the date on which the additional Notes of such series are
to be authenticated, and the name or names of the initial Holder or Holders thereof. The Notes of each series issued on the date of this Twenty-Eighth Supplemental Indenture and any additional Notes of such series that may be issued after such date
shall be part of the same series of Debt Securities for all purposes under the Indenture. 
 The Stated Maturity of each series of the Notes
shall be as follows: 
  

					
	 Series of Notes
	  	 Stated Maturity
	  	 
			
	 2.850% Senior Notes due 2021
	  	April 15, 2021	  	
			
	 3.950% Senior Notes due 2027
	  	February 15, 2027	  	

  
 3 

 The rate or rates at which the Notes of each series shall bear interest, the date or dates from
which such interest shall accrue, the dates on which any such interest shall be payable and the regular record date for any interest payable on any interest payment date, in each case, shall be as set forth in the form of Note of such series
attached as an exhibit to this Twenty-Eighth Supplemental Indenture. With respect to Notes of each series, payments of principal of, premium, if any, and interest due on any Notes representing Book-Entry Notes of such series on any interest payment
date for Notes of such series or at maturity of such Notes, will be made available to the Trustee by 11:00 a.m., New York City time, on such date, unless such date falls on a day that is not a Business Day, in which case such payments will be made
available to the Trustee by 11:00 a.m., New York City time, on the next Business Day. As soon as possible thereafter, the Trustee will make such payments to the Depositary. 

SECTION 1.3 Registrar and Paying Agent. 

The Issuer initially appoints the Trustee as Registrar and paying agent with respect to the Notes of each series. The office or agency in the
City and State of New York where Notes of each series may be presented for registration of transfer or exchange and the Place of Payment for the Notes shall initially be the corporate trust office of the Trustee located at Corporate Trust,
Municipal & Escrow Solutions, 150 E. 42nd Street, 40th Floor, New York, New York 10017. 
 SECTION 1.4 Transfer and
Exchange. 
 With respect to each series of the Notes, the transfer and exchange of Book-Entry Notes or beneficial interests therein
shall be effected through the Depositary, in accordance with Section 2.15 of the Original Indenture and the rules and procedures of the Depositary therefor. 

SECTION 1.5 Guarantee of the Notes. 

In accordance with Article XIV of the Original Indenture, the Notes of each series will be fully, unconditionally and absolutely guaranteed on
an unsecured, unsubordinated basis by the Parent Guarantor. 
 SECTION 1.6 Defeasance and Discharge. 

The Notes of each series shall be subject to satisfaction and discharge and to both legal defeasance and covenant defeasance as contemplated by
Article XI of the Original Indenture. 
 SECTION 1.7 Amendment to Section 4.12 of the Original Indenture. 

The last paragraph of Section 4.12 of the Original Indenture is hereby amended and restated in relation solely to the Notes to read as
follows: 
 “Notwithstanding the foregoing provisions of this Section, the Parent Guarantor may, and may permit any Subsidiary to,
effect any Sale/Leaseback Transaction that is not excepted by clauses (a) through (d), inclusive, of this Section, provided that the Attributable Indebtedness from such Sale/Leaseback Transaction, together with the aggregate principal
amount of all other such Attributable Indebtedness deemed to be outstanding and all outstanding Indebtedness (other than the Debt Securities) secured by liens, other than Permitted Liens, upon Principal Properties or upon any capital stock of any
Restricted Subsidiary, do not exceed 10% of Consolidated Net Tangible Assets.” 

  
 4 

 SECTION 1.8 Amendment to Section 4.13 of the Original Indenture. 

The last sentence of Section 4.13 of the Original Indenture is hereby amended and restated in relation solely to the Notes to read as
follows: 
 “Notwithstanding the foregoing, the Parent Guarantor may, and may permit any Subsidiary to, create, assume, incur or suffer
to exist any lien, other than a Permitted Lien, upon any Principal Property or upon any capital stock of any Restricted Subsidiary to secure Indebtedness of the Parent Guarantor, the Company or any other Person (other than the Debt Securities),
without in any such case making effective provision whereby all the Debt Securities Outstanding under this Indenture are secured equally and ratably with, or prior to, such Indebtedness so long as such Indebtedness is secured; provided that the
aggregate principal amount of all Indebtedness then outstanding secured by such lien and all similar liens, together with the aggregate amount of Attributable Indebtedness deemed to be outstanding in respect of all Sale/Leaseback Transactions
(exclusive of any such Sale/Leaseback Transactions otherwise permitted under clauses (a) through (d) of Section 4.12), does not exceed 10% of Consolidated Net Tangible Assets.” 

ARTICLE II 

REDEMPTION 
 SECTION 2.1
Redemption. 
 The Issuer, at its option, may redeem the Notes of each series in accordance with the provisions of paragraph 5 of the
Notes of such series and Article III of the Original Indenture. 
 ARTICLE III 

MISCELLANEOUS PROVISIONS 

SECTION 3.1 Table of Contents, Headings, etc. 

The table of contents and headings of the Articles and Sections of this Twenty-Eighth Supplemental Indenture have been inserted for convenience
of reference only, are not to be considered a part hereof and shall in no way modify or restrict any of the terms or provisions hereof. 

SECTION 3.2 Counterpart Originals. 

The parties may sign any number of copies of this Twenty-Eighth Supplemental Indenture. Each signed copy shall be an original, but all of them
together represent the same agreement. 

  
 5 

 SECTION 3.3 Governing Law. 

THIS TWENTY-EIGHTH SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK. 
 SECTION 3.4 Certain Trustee Matters. 

The recitals contained herein shall be taken as the statements of the Issuer, and the Trustee assumes no responsibility for their correctness.
The Trustee makes no representations as to the validity or sufficiency of this Twenty-Eighth Supplemental Indenture or the Notes or the proper authorization or the due execution hereof or thereof by the Issuer. 

*  *  * 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have caused this Twenty-Eighth Supplemental Indenture to
be duly executed as of the date first written above. 
  

					
	ENTERPRISE PRODUCTS OPERATING LLC,
		 	as Issuer
		
	By:	 	 ENTERPRISE PRODUCTS OLPGP, INC.,

its Sole Manager

		
	By:	 	/s/ Bryan F. Bulawa
		 	Name:	 	Bryan F. Bulawa
		 	Title:	 	Senior Vice President and Chief Financial Officer

  

					
	
	ENTERPRISE PRODUCTS PARTNERS L.P.,
		 	as Parent Guarantor
		
	By:	 	ENTERPRISE PRODUCTS HOLDINGS LLC,
		 	its General Partner
		
	By:	 	/s/ Bryan F. Bulawa
		 	Name:	 	Bryan F. Bulawa
		 	Title:	 	Senior Vice President and Chief Financial Officer

  

					
	
	 WELLS FARGO BANK,
 NATIONAL
ASSOCIATION,

		 	as Trustee
		
	By:	 	/s/ Gregory S. Clarke
		 	Name:	 	Gregory S. Clarke
		 	Title:	 	Vice President

 Twenty-Eighth Supplemental Indenture Signature Page 

 Exhibit A 

FORM OF NOTE 
 [FACE OF
SECURITY] 
 [THIS GLOBAL SECURITY SHALL IN ALL RESPECTS BE ENTITLED TO THE SAME BENEFITS AS DEFINITIVE DEBT SECURITIES UNDER THE INDENTURE. UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) (55 WATER STREET, NEW YORK, NEW YORK 10041) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* 
 [TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES
OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO HEREIN.]* 
 Principal Amount 

No.              

$                     [which amount may be

 increased or decreased by the Schedule 

of Increases and Decreases in Global Security attached hereto.]* 

ENTERPRISE PRODUCTS OPERATING LLC 

2.850% SENIOR NOTE DUE 2021 

CUSIP 29379V BK8 
 ENTERPRISE
PRODUCTS OPERATING LLC, a Texas limited liability company (the “Company,” which term includes any successor under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                                     or its registered
assigns, the principal sum of                         
($                ) U.S. dollars, [or such greater or lesser principal sum as is shown on the attached Schedule of Increases and Decreases in Global 

 

	* 	 To be included in a Book-Entry Note. 

  
 A-1 

 
Security]*, on April 15, 2021 in such coin and currency of the United States of America as at the time of payment shall be legal tender
for the payment of public and private debts, and to pay interest thereon at an annual rate of 2.850% payable on April 15 and October 15 of each year, commencing on [Insert the first Interest Payment Date occurring after the date of
issuance of this Security], to the person in whose name this Debt Security (this “Security”) is registered at the close of business on the record date for such interest, which shall be the preceding April 1 or October 1, as
the case may be (each, a “Regular Record Date”), respectively, with interest accruing from and including [Insert the date of issuance of this Security, or if Debt Securities of this same series have been previously issued, insert the
most recent Interest Payment Date on which interest has been paid on Debt Securities of such series], or from and including the most recent date to which interest on this Security shall have been paid. 

Reference is made to the further provisions of this Security set forth on the reverse hereof. Such further provisions shall for all purposes
have the same effect as though fully set forth at this place. 
 The statements in the legends set forth in this Security are an integral
part of the terms of this Security and by acceptance hereof the Holder of this Security agrees to be subject to, and bound by, the terms and provisions set forth in each such legend. 

This Security shall not be valid or become obligatory for any purpose until the Trustee’s Certificate of Authentication hereon shall have
been manually signed by the Trustee under the Indenture. 

  
 A-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed by its sole
manager. 
 Dated:
                         
  

					
	ENTERPRISE PRODUCTS OPERATING LLC
		
	By:	 	 ENTERPRISE PRODUCTS OLPGP, INC.,

its sole manager

		
	By:	 	 
		 	Name:	 	Bryan F. Bulawa
		 	Title:	 	Senior Vice President and Chief Financial Officer

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION: 

This is one of the Debt Securities of the series designated herein referred to in the within-mentioned Indenture. 

 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
		 	as Trustee
		
	By:	 	 
		 	Authorized Signatory

  
 A-3 

 [REVERSE OF SECURITY] 

ENTERPRISE PRODUCTS OPERATING LLC 

2.850% SENIOR NOTE DUE 2021 
  

	1.	Interest. 

 The Company promises to pay interest on the principal amount of this Security
at the rate of 2.850% per annum. The Company will pay interest semi-annually on April 15 and October 15 of each year (each an “Interest Payment Date”). Interest will be computed on the basis of a 360-day year consisting of
twelve 30-day months. The Company shall pay interest (including post-petition interest in any proceeding under any applicable bankruptcy laws) on overdue installments of interest (without regard to any applicable grace period) and on overdue
principal and premium, if any, from time to time on demand at the same rate per annum, in each case to the extent lawful. 
  

	2.	Method of Payment. 

 The Company shall pay interest on the Securities (except Defaulted
Interest) to the persons who are the registered Holders at the close of business on the Regular Record Date immediately preceding the Interest Payment Date. Any such interest not so punctually paid or duly provided for (“Defaulted
Interest”) may be paid to the persons who are registered Holders at the close of business on a special record date for the payment of such Defaulted Interest, or in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Securities may then be listed if such manner of payment shall be deemed practicable by the Trustee, as more fully provided in the Indenture. The Company shall pay principal, premium, if any, and interest in such
coin or currency of the United States of America as at the time of payment shall be legal tender for payment of public and private debts. Payments in respect of a Global Security (including principal, premium, if any, and interest) will be made by
wire transfer of immediately available funds to the accounts specified by the Depositary. Payments in respect of Securities in definitive form (including principal, premium, if any, and interest) will be made at the office or agency of the Company
maintained for such purpose within The City of New York, which initially will be the corporate trust office of Wells Fargo Bank, National Association at Corporate Trust, Municipal & Escrow Solutions, 150 East 42nd Street, 40th Floor, New
York, New York 10017, or, at the option of the Company, payment of interest may be made by check mailed to the Holders on the relevant record date at their addresses set forth in the Debt Security Register of Holders or at the option of the Holder,
payment of interest on Securities in definitive form will be made by wire transfer of immediately available funds to any account maintained in the United States, provided such Holder has requested such method of payment and provided timely wire
transfer instructions to the paying agent. The Holder must surrender this Security to a paying agent to collect payment of principal. 
  

	3.	Paying Agent and Registrar. 

 Initially, Wells Fargo Bank, National Association will act
as paying agent and Registrar. The Company may change any paying agent or Registrar at any time upon notice to the Trustee and the Holders. The Company may act as paying agent. 

  
 A-4 

	4.	Indenture. 

 Reference is made hereby to (i) the Indenture dated as of
October 4, 2004 (the “Original Indenture”) among Enterprise Products Operating L.P., as issuer (the “Original Issuer”), Enterprise Products Partners L.P., as parent guarantor (the “Parent Guarantor”), and
Wells Fargo Bank, National Association, as trustee (the “Trustee”), (ii) the Tenth Supplemental Indenture thereto dated as of June 30, 2007 (the “Tenth Supplemental Indenture”), among the Original Issuer, the Company,
the Parent Guarantor and the Trustee, providing for the Company as the successor issuer and (iii) the Twenty-Eighth Supplemental Indenture thereto dated as of April 13, 2016 (the “Twenty-Eighth Supplemental Indenture”), among the
Company, the Parent Guarantor and the Trustee, providing for the issuance of Debt Securities of the series whose designation appears on the face hereof. The Original Indenture, as amended and supplemented by the Tenth Supplemental Indenture and the
Twenty-Eighth Supplemental Indenture, and as may be further duly amended and supplemented in accordance with the terms thereof, is referred to herein as the “Indenture.” Capitalized terms used but not defined herein shall have the
respective meanings given to such terms in the Indenture. 
 This Security is one of a duly authorized issue of Debt Securities of the
series designated by the Company as “2.850% Senior Notes due 2021” (such series of Debt Securities being referred to herein as the “Securities”), all of which are issued or to be issued under and pursuant to the Indenture. The
terms of the Securities include those stated in the Indenture, and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (the “TIA”). The Securities are subject to all such terms, and Holders of
Securities are referred to the Indenture and the TIA for a statement of such terms and a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company, the Parent Guarantor and the Holder
hereof. If and to the extent any provision of the Indenture limits, qualifies or conflicts with any other provision of the Indenture that is required to be included in the Indenture or is deemed applicable to the Indenture by virtue of the
provisions of the TIA, such required provision shall control. 
  

	5.	Optional Redemption. 

 At any time prior to March 15, 2021 (the “Par Call
Date”), the Securities are redeemable, at the option of the Company, at any time in whole, or from time to time in part, at a redemption price (the “Make-Whole Price”) equal to the greater of: (i) 100% of the principal amount of
the Securities to be redeemed; or (ii) the sum of the present values of the remaining scheduled payments of principal and interest (at the rate in effect on the date of calculation of the Make-Whole Price) on the Securities to be redeemed
(exclusive of interest accrued to the date of redemption (the “Redemption Date”)) that would have been due if the Securities had matured on the Par Call Date, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day
year consisting of twelve 30-day months) at the applicable Treasury Yield plus 25 basis points; plus, in either case, accrued and unpaid interest to the Redemption Date. 

At any time on or after the Par Call Date, the Securities are redeemable, at the option of the Company, at any time in whole, or from time to
time in part, at a redemption price equal to 100% of the principal amount of the Securities to be redeemed plus accrued and unpaid interest to the Redemption Date (“Redemption Price”). 

  
 A-5 

 The actual Make-Whole Price, calculated as provided above, shall be calculated and certified to
the Trustee and the Company by the Independent Investment Banker. 
 For purposes of determining the Make-Whole Price, the following
definitions are applicable: 
 “Treasury Yield” means, with respect to any Redemption Date applicable to the Securities, the rate
per annum equal to the semi-annual equivalent yield to maturity (computed as of the third Business Day immediately preceding such Redemption Date) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a
percentage of its principal amount) equal to the applicable Comparable Treasury Price for such Redemption Date. 
 “Comparable Treasury
Issue” means the United States Treasury security selected by the Independent Investment Banker as having a maturity comparable to the remaining term of the Securities to be redeemed, calculated as if the maturity date of the Securities were the
Par Call Date (the “Remaining Life”), that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the Remaining Life of
the Securities to be redeemed; provided, however, that if no maturity is within three months before or after the Par Call Date for such Securities, yields for the two published maturities most closely corresponding to such United States
Treasury security will be determined and the treasury rate will be interpolated or extrapolated from those yields on a straight line basis rounding to the nearest month. 

“Independent Investment Banker” means any of J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated
and Citigroup Global Markets Inc. and their respective successors or, if no such firm is willing and able to select the applicable Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Trustee
and reasonably acceptable to the Company. 
 “Comparable Treasury Price” means, with respect to any Redemption Date, (a) the
average of the Reference Treasury Dealer Quotations for the Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (b) if the Independent Investment Banker obtains fewer than four Reference Treasury
Dealer Quotations, the average of all such quotations. 
 “Reference Treasury Dealer” means each of J.P. Morgan Securities LLC,
Merrill Lynch, Pierce, Fenner & Smith Incorporated and Citigroup Global Markets Inc. so long as it is a primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”) at the relevant time and, if it
is not then a Primary Treasury Dealer, then a Primary Treasury Dealer selected by it, and in each case their respective successors, plus a Primary Treasury Dealer selected by the Company; provided, however, that if any of the foregoing shall
not be a Primary Treasury Dealer at such time and shall fail to select a Primary Treasury Dealer, then the Company will substitute therefor another Primary Treasury Dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date for the
Securities, an average, as determined by an Independent 

  
 A-6 

 
Investment Banker, of the bid and asked prices for the Comparable Treasury Issue for the Securities (expressed in each case as a percentage of its principal amount) quoted in writing to an
Independent Investment Banker by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

Except as set forth above, the Securities will not be redeemable prior to their Stated Maturity and will not be entitled to the benefit of any
sinking fund. 
 Securities called for optional redemption become due on the Redemption Date. Notices of optional redemption will be mailed
at least 30 but not more than 60 days before the Redemption Date to each Holder of the Securities to be redeemed at its registered address. The notice of optional redemption for the Securities will state, among other things, the amount of Securities
to be redeemed, the Redemption Date, the Make-Whole Price (or the method of calculating such Make-Whole Price) or the Redemption Price, as the case may be, and the place(s) that payment will be made upon presentation and surrender of Securities to
be redeemed. Unless the Company defaults in payment of the Make-Whole Price or Redemption Price, as the case may be, interest will cease to accrue on the Redemption Date with respect to any Securities that have been called for optional redemption.
If less than all the Securities are redeemed at any time, the Trustee will select the Securities to be redeemed on a pro rata basis, by lot, or by such other method the Trustee deems fair and appropriate. 

The Securities may be redeemed in part in multiples of $1,000 only. Any such redemption will also comply with Article III of the Indenture.

  

	6.	Denominations; Transfer; Exchange. 

 The Securities are to be issued in registered form,
without coupons, in denominations of $1,000 and integral multiples of $1,000 in excess thereof. A Holder may register the transfer of, or exchange, Securities in accordance with the Indenture. The Registrar may require a Holder, among other things,
to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Company hereby irrevocably undertakes to the Holder hereof to exchange this Security in accordance with the
terms of the Indenture without charge. 
  

	7.	Person Deemed Owners. 

 The registered Holder of a Security may be treated as the owner
of it for all purposes. 
  

	8.	Amendment; Supplement; Waiver. 

 Subject to certain exceptions, the Indenture may be
amended or supplemented, and any existing Event of Default or compliance with any provision may be waived, with the consent of the Holders of a majority in principal amount of the Outstanding Debt Securities of each series affected. Without consent
of any Holder of a Security, the parties thereto may amend or supplement the Indenture to, among other things, cure any ambiguity or omission, to correct any defect or inconsistency, or to make any other change that does not adversely affect the
rights of any Holder of a Security. Any such consent or waiver by the Holder of this Security (unless revoked as provided in the Indenture) shall be conclusive and binding upon such Holder and upon all future Holders and owners of this Security and
any Securities which may be issued in exchange or substitution herefor, irrespective of whether or not any notation thereof is made upon this Security or such other Securities. 

  
 A-7 

	9.	Defaults and Remedies. 

 Certain events of bankruptcy or insolvency are Events of Default
that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default
with respect to the Securities occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities then Outstanding may declare the principal amount of all the Securities,
together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a
declaration of acceleration has been made, the Holders of a majority in principal amount of the Outstanding Securities, by written notice to the Trustee, may rescind such declaration and annul its consequences if the rescission would not conflict
with any judgment or decree of a court already rendered and if all Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest which has become due solely by such declaration
acceleration, shall have been cured or shall have been waived. No such rescission shall affect any subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as
provided in the Indenture. The Trustee may require indemnity or security satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities
then Outstanding may direct the Trustee in its exercise of any trust or power with respect to the Securities. 
  

	10.	Trustee Dealings with Company. 

 The Trustee under the Indenture, in its individual or
any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates or any subsidiary of the Company’s Affiliates, and may otherwise deal with the Company or its Affiliates as if it were not the
Trustee. 
  

	11.	Authentication. 

 This Security shall not be valid until the Trustee signs the
certificate of authentication on the other side of this Security. 
  

	12.	Abbreviations and Defined Terms. 

 Customary abbreviations may be used in the name of a
Holder of a Security or an assignee, such as: TEN COM (tenant in common), TEN ENT (tenants by the entireties), JT TEN (joint tenants with right of survivorship and not as tenants in common), CUST (Custodian), and U/G/M/A (Uniform Gifts to Minors
Act). 

  
 A-8 

	13.	CUSIP Numbers. 

 Pursuant to a recommendation promulgated by the Committee on Uniform
Note Identification Procedures, the Company has caused CUSIP numbers to be printed on the Securities as a convenience to the Holders of the Securities. No representation is made as to the accuracy of such number as printed on the Securities and
reliance may be placed only on the other identification numbers printed hereon. 
  

	14.	Absolute Obligation. 

 No reference herein to the Indenture and no provision of this
Security or the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Security in the manner, at the respective times, at the rate and in
the coin or currency herein prescribed. 
  

	15.	No Recourse. 

 The general partner of the Parent Guarantor and its directors, officers,
employees and members, as such, shall have no liability for any obligations of any Guarantor or the Company under the Securities, the Indenture or any Guarantee or for any claim based on, in respect of, or by reason of, such obligations or their
creation. Each Holder by accepting the Securities waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. 
  

	16.	Governing Law. 

 This Security shall be construed in accordance with and governed by the
laws of the State of New York. 
  

	17.	Guarantee. 

 The Securities are fully and unconditionally guaranteed on an unsecured,
unsubordinated basis by the Parent Guarantor as set forth in Article XIV of the Indenture, as noted in the Notation of Guarantee to this Security, and under certain circumstances set forth in the Original Indenture one or more Subsidiaries of the
Parent Guarantor may be required to join in such guarantee. 
  

	18.	Reliance. 

 The Holder, by accepting this Security, acknowledges and affirms that
(i) it has purchased the Security in reliance upon the separateness of Parent Guarantor and the general partner of Parent Guarantor from each other and from any other Persons, including Enterprise Products Company (formerly EPCO, Inc.), and
(ii) Parent Guarantor and the general partner of Parent Guarantor have assets and liabilities that are separate from those of other Persons, including Enterprise Products Company. 

  
 A-9 

 NOTATION OF GUARANTEE 

The Parent Guarantor (which term includes any successor Person under the Indenture), has fully, unconditionally and absolutely guaranteed, to
the extent set forth in the Indenture and subject to the provisions in the Indenture, the due and punctual payment of the principal of, and premium, if any, and interest on the Securities and all other amounts due and payable under the Indenture and
the Securities by the Company. 
 The obligations of the Parent Guarantor to the Holders of Securities and to the Trustee pursuant to its
Guarantee and the Indenture are expressly set forth in Article XIV of the Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee. 

 

					
	ENTERPRISE PRODUCTS PARTNERS L.P.
		
	By:	 	ENTERPRISE PRODUCTS HOLDINGS LLC,
		 	its General Partner
		
	By:	 	 
		 	Name:	 	Bryan F. Bulawa
		 	Title:	 	Senior Vice President and Chief Financial Officer

  
 A-10 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out
in full according to applicable laws or regulations: 
  

											
	 TEN COM
	  	 –  as tenants in common
	  		 	UNIF GIFT MIN ACT –	 	 
		  		  		 		 		 	(Cust.)
	 TEN ENT
	  	 –  as tenants by entireties
	  		 	Custodian for:	 	 
		  		  		 		 	(Minor)
		  		  		 	under Uniform Gifts to
	 JT TEN
	  	 –  as joint tenants with right of

    survivorship and not as

    tenants in common
	  		 	Minors Act of	 	 
		  	  		 		 	(State)
		  	  		 		 		 	

 Additional abbreviations may also be used though not in the above list. 

 
  

ASSIGNMENT 
 FOR VALUE
RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 
 PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 

 
  

 
  

Please print or type name and address including postal zip code of assignee 
  

 
  

 
 the within Security and all rights thereunder, hereby
irrevocably constituting and appointing 
  
  

to transfer said Security on the books of the Company, with full power of substitution in the premises. 

 

									
	 Dated
	 	 	  		  	 	 	
		 		  		  	Registered Holder	 	

  
 A-11 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY† 
 The following increases or decreases in this Global Security have been made:

  

									
	 Date of Exchange
	  	 Amount of

Decrease in

Principal
 Amount of
this
 Global Security
	  	 Amount of

Increase in

Principal
 Amount of
this
 Global Security
	  	 Principal Amount of this
Global Security following
such
decrease
 (or increase)
	  	 Signature of authorized
officer of Trustee
or
Depositary

		  		  		  		  	

  

	† 	To be included in a Book-Entry Note. 

  
 A-12 

 Exhibit B 

FORM OF NOTE 
 [FACE OF
SECURITY] 
 [THIS GLOBAL SECURITY SHALL IN ALL RESPECTS BE ENTITLED TO THE SAME BENEFITS AS DEFINITIVE DEBT SECURITIES UNDER THE INDENTURE. UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) (55 WATER STREET, NEW YORK, NEW YORK 10041) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* 
 [TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES
OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO HEREIN.]* 
 Principal Amount 

No.              

$                     [which amount may be

 increased or decreased by the Schedule 

of Increases and Decreases in Global Security attached hereto.]* 

ENTERPRISE PRODUCTS OPERATING LLC 

3.950% SENIOR NOTE DUE 2027 

CUSIP 29379V BL6 
 ENTERPRISE
PRODUCTS OPERATING LLC, a Texas limited liability company (the “Company,” which term includes any successor under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                                     or its registered
assigns, the principal sum of                         
($                ) U.S. dollars, [or such greater or lesser principal sum as is shown on the attached Schedule of Increases and Decreases in Global
Security]*, on February 15, 2027 in such coin and currency of the United States of America as at 
  

 

	* 	 To be included in a Book-Entry Note. 

  
 B-1 

 
the time of payment shall be legal tender for the payment of public and private debts, and to pay interest thereon at an annual rate of 3.950% payable on February 15 and August 15 of
each year, commencing on [Insert the first Interest Payment Date occurring after the date of issuance of this Security], to the person in whose name this Debt Security (this “Security”) is registered at the close of business on the
record date for such interest, which shall be the preceding February 1 or August 1, as the case may be (each, a “Regular Record Date”), respectively, with interest accruing from and including [Insert the date of issuance of
this Security, or if Debt Securities of this same series have been previously issued, insert the most recent Interest Payment Date on which interest has been paid on Debt Securities of such series], or from and including the most recent date to
which interest on this Security shall have been paid. 
 Reference is made to the further provisions of this Security set forth on the
reverse hereof. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 
 The
statements in the legends set forth in this Security are an integral part of the terms of this Security and by acceptance hereof the Holder of this Security agrees to be subject to, and bound by, the terms and provisions set forth in each such
legend. 
 This Security shall not be valid or become obligatory for any purpose until the Trustee’s Certificate of Authentication
hereon shall have been manually signed by the Trustee under the Indenture. 

  
 B-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed by its sole
manager. 
 Dated:
                         
  

					
	ENTERPRISE PRODUCTS OPERATING LLC
		
	By:	 	 ENTERPRISE PRODUCTS OLPGP, INC.,

its sole manager

		
	By:	 	 
		 	Name:	 	Bryan F. Bulawa
		 	Title:	 	Senior Vice President and Chief Financial Officer

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION: 

This is one of the Debt Securities of the series designated herein referred to in the within-mentioned Indenture. 

 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
		 	as Trustee
		
	By:	 	 
		 	Authorized Signatory

  

  
 B-3 

 [REVERSE OF SECURITY] 

ENTERPRISE PRODUCTS OPERATING LLC 

3.950% SENIOR NOTE DUE 2027 
  

	1.	Interest. 

 The Company promises to pay interest on the principal amount of this Security
at the rate of 3.950% per annum. The Company will pay interest semi-annually on February 15 and August 15 of each year (each an “Interest Payment Date”). Interest will be computed on the basis of a 360-day year consisting of
twelve 30-day months. The Company shall pay interest (including post-petition interest in any proceeding under any applicable bankruptcy laws) on overdue installments of interest (without regard to any applicable grace period) and on overdue
principal and premium, if any, from time to time on demand at the same rate per annum, in each case to the extent lawful. 
  

	2.	Method of Payment. 

 The Company shall pay interest on the Securities (except Defaulted
Interest) to the persons who are the registered Holders at the close of business on the Regular Record Date immediately preceding the Interest Payment Date. Any such interest not so punctually paid or duly provided for (“Defaulted
Interest”) may be paid to the persons who are registered Holders at the close of business on a special record date for the payment of such Defaulted Interest, or in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Securities may then be listed if such manner of payment shall be deemed practicable by the Trustee, as more fully provided in the Indenture. The Company shall pay principal, premium, if any, and interest in such
coin or currency of the United States of America as at the time of payment shall be legal tender for payment of public and private debts. Payments in respect of a Global Security (including principal, premium, if any, and interest) will be made by
wire transfer of immediately available funds to the accounts specified by the Depositary. Payments in respect of Securities in definitive form (including principal, premium, if any, and interest) will be made at the office or agency of the Company
maintained for such purpose within The City of New York, which initially will be the corporate trust office of Wells Fargo Bank, National Association at Corporate Trust, Municipal & Escrow Solutions, 150 East 42nd Street, 40th Floor, New
York, New York 10017, or, at the option of the Company, payment of interest may be made by check mailed to the Holders on the relevant record date at their addresses set forth in the Debt Security Register of Holders or at the option of the Holder,
payment of interest on Securities in definitive form will be made by wire transfer of immediately available funds to any account maintained in the United States, provided such Holder has requested such method of payment and provided timely wire
transfer instructions to the paying agent. The Holder must surrender this Security to a paying agent to collect payment of principal. 
  

	3.	Paying Agent and Registrar. 

 Initially, Wells Fargo Bank, National Association will act
as paying agent and Registrar. The Company may change any paying agent or Registrar at any time upon notice to the Trustee and the Holders. The Company may act as paying agent. 

  
 B-4 

	4.	Indenture. 

 Reference is made hereby to (i) the Indenture dated as of
October 4, 2004 (the “Original Indenture”) among Enterprise Products Operating L.P., as issuer (the “Original Issuer”), Enterprise Products Partners L.P., as parent guarantor (the “Parent Guarantor”), and
Wells Fargo Bank, National Association, as trustee (the “Trustee”), (ii) the Tenth Supplemental Indenture thereto dated as of June 30, 2007 (the “Tenth Supplemental Indenture”), among the Original Issuer, the Company,
the Parent Guarantor and the Trustee, providing for the Company as the successor issuer and (iii) the Twenty-Eighth Supplemental Indenture thereto dated as of April 13, 2016 (the “Twenty-Eighth Supplemental Indenture”), among the
Company, the Parent Guarantor and the Trustee, providing for the issuance of Debt Securities of the series whose designation appears on the face hereof. The Original Indenture, as amended and supplemented by the Tenth Supplemental Indenture and the
Twenty-Eighth Supplemental Indenture, and as may be further duly amended and supplemented in accordance with the terms thereof, is referred to herein as the “Indenture.” Capitalized terms used but not defined herein shall have the
respective meanings given to such terms in the Indenture. 
 This Security is one of a duly authorized issue of Debt Securities of the
series designated by the Company as “3.950% Senior Notes due 2027” (such series of Debt Securities being referred to herein as the “Securities”), all of which are issued or to be issued under and pursuant to the Indenture. The
terms of the Securities include those stated in the Indenture, and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (the “TIA”). The Securities are subject to all such terms, and Holders of
Securities are referred to the Indenture and the TIA for a statement of such terms and a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company, the Parent Guarantor and the Holder
hereof. If and to the extent any provision of the Indenture limits, qualifies or conflicts with any other provision of the Indenture that is required to be included in the Indenture or is deemed applicable to the Indenture by virtue of the
provisions of the TIA, such required provision shall control. 
  

	5.	Optional Redemption. 

 At any time prior to November 15, 2026 (the “Par Call
Date”), the Securities are redeemable, at the option of the Company, at any time in whole, or from time to time in part, at a redemption price (the “Make-Whole Price”) equal to the greater of: (i) 100% of the principal amount of
the Securities to be redeemed; or (ii) the sum of the present values of the remaining scheduled payments of principal and interest (at the rate in effect on the date of calculation of the Make-Whole Price) on the Securities to be redeemed
(exclusive of interest accrued to the date of redemption (the “Redemption Date”)) that would have been due if the Securities had matured on the Par Call Date, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day
year consisting of twelve 30-day months) at the applicable Treasury Yield plus 35 basis points; plus, in either case, accrued and unpaid interest to the Redemption Date. 

At any time on or after the Par Call Date, the Securities are redeemable, at the option of the Company, at any time in whole, or from time to
time in part, at a redemption price equal to 100% of the principal amount of the Securities to be redeemed plus accrued and unpaid interest to the Redemption Date (“Redemption Price”). 

  
 B-5 

 The actual Make-Whole Price, calculated as provided above, shall be calculated and certified to
the Trustee and the Company by the Independent Investment Banker. 
 For purposes of determining the Make-Whole Price, the following
definitions are applicable: 
 “Treasury Yield” means, with respect to any Redemption Date applicable to the Securities, the rate
per annum equal to the semi-annual equivalent yield to maturity (computed as of the third Business Day immediately preceding such Redemption Date) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a
percentage of its principal amount) equal to the applicable Comparable Treasury Price for such Redemption Date. 
 “Comparable Treasury
Issue” means the United States Treasury security selected by the Independent Investment Banker as having a maturity comparable to the remaining term of the Securities to be redeemed, calculated as if the maturity date of the Securities were the
Par Call Date (the “Remaining Life”), that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the Remaining Life of
the Securities to be redeemed; provided, however, that if no maturity is within three months before or after the Par Call Date for such Securities, yields for the two published maturities most closely corresponding to such United States
Treasury security will be determined and the treasury rate will be interpolated or extrapolated from those yields on a straight line basis rounding to the nearest month. 

“Independent Investment Banker” means any of J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated
and Citigroup Global Markets Inc. and their respective successors or, if no such firm is willing and able to select the applicable Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Trustee
and reasonably acceptable to the Company. 
 “Comparable Treasury Price” means, with respect to any Redemption Date, (a) the
average of the Reference Treasury Dealer Quotations for the Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (b) if the Independent Investment Banker obtains fewer than four Reference Treasury
Dealer Quotations, the average of all such quotations. 
 “Reference Treasury Dealer” means each of J.P. Morgan Securities LLC,
Merrill Lynch, Pierce, Fenner & Smith Incorporated and Citigroup Global Markets Inc. so long as it is a primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”) at the relevant time and, if it
is not then a Primary Treasury Dealer, then a Primary Treasury Dealer selected by it, and in each case their respective successors, plus a Primary Treasury Dealer selected by the Company; provided, however, that if any of the foregoing shall
not be a Primary Treasury Dealer at such time and shall fail to select a Primary Treasury Dealer, then the Company will substitute therefor another Primary Treasury Dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date for the
Securities, an average, as determined by an Independent 

  
 B-6 

 
Investment Banker, of the bid and asked prices for the Comparable Treasury Issue for the Securities (expressed in each case as a percentage of its principal amount) quoted in writing to an
Independent Investment Banker by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

Except as set forth above, the Securities will not be redeemable prior to their Stated Maturity and will not be entitled to the benefit of any
sinking fund. 
 Securities called for optional redemption become due on the Redemption Date. Notices of optional redemption will be mailed
at least 30 but not more than 60 days before the Redemption Date to each Holder of the Securities to be redeemed at its registered address. The notice of optional redemption for the Securities will state, among other things, the amount of Securities
to be redeemed, the Redemption Date, the Make-Whole Price (or the method of calculating such Make-Whole Price) or the Redemption Price, as the case may be, and the place(s) that payment will be made upon presentation and surrender of Securities to
be redeemed. Unless the Company defaults in payment of the Make-Whole Price or Redemption Price, as the case may be, interest will cease to accrue on the Redemption Date with respect to any Securities that have been called for optional redemption.
If less than all the Securities are redeemed at any time, the Trustee will select the Securities to be redeemed on a pro rata basis, by lot, or by such other method the Trustee deems fair and appropriate. 

The Securities may be redeemed in part in multiples of $1,000 only. Any such redemption will also comply with Article III of the Indenture.

  

	6.	Denominations; Transfer; Exchange. 

 The Securities are to be issued in registered form,
without coupons, in denominations of $1,000 and integral multiples of $1,000 in excess thereof. A Holder may register the transfer of, or exchange, Securities in accordance with the Indenture. The Registrar may require a Holder, among other things,
to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Company hereby irrevocably undertakes to the Holder hereof to exchange this Security in accordance with the
terms of the Indenture without charge. 
  

	7.	Person Deemed Owners. 

 The registered Holder of a Security may be treated as the owner
of it for all purposes. 
  

	8.	Amendment; Supplement; Waiver. 

 Subject to certain exceptions, the Indenture may be
amended or supplemented, and any existing Event of Default or compliance with any provision may be waived, with the consent of the Holders of a majority in principal amount of the Outstanding Debt Securities of each series affected. Without consent
of any Holder of a Security, the parties thereto may amend or supplement the Indenture to, among other things, cure any ambiguity or omission, to correct any defect or inconsistency, or to make any other change that does not adversely affect the
rights of any Holder of a Security. Any such consent or waiver by the Holder of this Security (unless revoked as provided in the Indenture) shall be conclusive and binding upon such Holder and upon all future Holders and owners of this Security and
any Securities which may be issued in exchange or substitution herefor, irrespective of whether or not any notation thereof is made upon this Security or such other Securities. 

  
 B-7 

	9.	Defaults and Remedies. 

 Certain events of bankruptcy or insolvency are Events of Default
that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default
with respect to the Securities occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities then Outstanding may declare the principal amount of all the Securities,
together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a
declaration of acceleration has been made, the Holders of a majority in principal amount of the Outstanding Securities, by written notice to the Trustee, may rescind such declaration and annul its consequences if the rescission would not conflict
with any judgment or decree of a court already rendered and if all Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest which has become due solely by such declaration
acceleration, shall have been cured or shall have been waived. No such rescission shall affect any subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as
provided in the Indenture. The Trustee may require indemnity or security satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities
then Outstanding may direct the Trustee in its exercise of any trust or power with respect to the Securities. 
  

	10.	Trustee Dealings with Company. 

 The Trustee under the Indenture, in its individual or
any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates or any subsidiary of the Company’s Affiliates, and may otherwise deal with the Company or its Affiliates as if it were not the
Trustee. 
  

	11.	Authentication. 

 This Security shall not be valid until the Trustee signs the
certificate of authentication on the other side of this Security. 
  

	12.	Abbreviations and Defined Terms. 

 Customary abbreviations may be used in the name of a
Holder of a Security or an assignee, such as: TEN COM (tenant in common), TEN ENT (tenants by the entireties), JT TEN (joint tenants with right of survivorship and not as tenants in common), CUST (Custodian), and U/G/M/A (Uniform Gifts to Minors
Act). 

  
 B-8 

	13.	CUSIP Numbers. 

 Pursuant to a recommendation promulgated by the Committee on Uniform
Note Identification Procedures, the Company has caused CUSIP numbers to be printed on the Securities as a convenience to the Holders of the Securities. No representation is made as to the accuracy of such number as printed on the Securities and
reliance may be placed only on the other identification numbers printed hereon. 
  

	14.	Absolute Obligation. 

 No reference herein to the Indenture and no provision of this
Security or the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Security in the manner, at the respective times, at the rate and in
the coin or currency herein prescribed. 
  

	15.	No Recourse. 

 The general partner of the Parent Guarantor and its directors, officers,
employees and members, as such, shall have no liability for any obligations of any Guarantor or the Company under the Securities, the Indenture or any Guarantee or for any claim based on, in respect of, or by reason of, such obligations or their
creation. Each Holder by accepting the Securities waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. 
  

	16.	Governing Law. 

 This Security shall be construed in accordance with and governed by the
laws of the State of New York. 
  

	17.	Guarantee. 

 The Securities are fully and unconditionally guaranteed on an unsecured,
unsubordinated basis by the Parent Guarantor as set forth in Article XIV of the Indenture, as noted in the Notation of Guarantee to this Security, and under certain circumstances set forth in the Original Indenture one or more Subsidiaries of the
Parent Guarantor may be required to join in such guarantee. 
  

	18.	Reliance. 

 The Holder, by accepting this Security, acknowledges and affirms that
(i) it has purchased the Security in reliance upon the separateness of Parent Guarantor and the general partner of Parent Guarantor from each other and from any other Persons, including Enterprise Products Company (formerly EPCO, Inc.), and
(ii) Parent Guarantor and the general partner of Parent Guarantor have assets and liabilities that are separate from those of other Persons, including Enterprise Products Company. 

  
 B-9 

 NOTATION OF GUARANTEE 

The Parent Guarantor (which term includes any successor Person under the Indenture), has fully, unconditionally and absolutely guaranteed, to
the extent set forth in the Indenture and subject to the provisions in the Indenture, the due and punctual payment of the principal of, and premium, if any, and interest on the Securities and all other amounts due and payable under the Indenture and
the Securities by the Company. 
 The obligations of the Parent Guarantor to the Holders of Securities and to the Trustee pursuant to its
Guarantee and the Indenture are expressly set forth in Article XIV of the Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee. 

 

					
	ENTERPRISE PRODUCTS PARTNERS L.P.
		
	By:	 	ENTERPRISE PRODUCTS HOLDINGS LLC,
		 	its General Partner
		
	By:	 	 
		 	Name:	 	Bryan F. Bulawa
		 	Title:	 	Senior Vice President and Chief Financial Officer

  
 B-10 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out
in full according to applicable laws or regulations: 
  

											
	 TEN COM
	  	 –  as tenants in common
	  		 	UNIF GIFT MIN ACT –	 	 
		  		  		 		 		 	(Cust.)
	 TEN ENT
	  	 –  as tenants by entireties
	  		 	Custodian for:	 	 
		  		  		 		 	(Minor)
		  		  		 	under Uniform Gifts to
	 JT TEN
	  	 –  as joint tenants with right of

    survivorship and not as

    tenants in common
	  		 	Minors Act of	 	 
		  	  		 		 	(State)
		  	  		 		 		 	

 Additional abbreviations may also be used though not in the above list. 

 
  

ASSIGNMENT 
 FOR VALUE
RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 
 PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 

 
  

 
  

Please print or type name and address including postal zip code of assignee 
  

 
  

 
 the within Security and all rights thereunder, hereby
irrevocably constituting and appointing 
  
  

to transfer said Security on the books of the Company, with full power of substitution in the premises. 

 

									
	 Dated
	 	 	  		  	 	 	
		 		  		  	Registered Holder	 	

  
 B-11 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY† 
 The following increases or decreases in this Global Security have been made:

  

									
	 Date of Exchange
	  	 Amount of

Decrease in

Principal
 Amount of
this
 Global Security
	  	 Amount of

Increase in

Principal
 Amount of
this
 Global Security
	  	 Principal Amount of this
Global Security following
such
decrease
 (or increase)
	  	 Signature of authorized
officer of Trustee
or
Depositary

		  		  		  		  	

  

	† 	To be included in a Book-Entry Note. 

  
 B-12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}]]