Document:

Exhibit 10.16

 

FIFTH ADDENDUM AGREEMENT

 

(“this Addendum”)

 

Dated: February 22, 2018 (“Effective Date”)

 

BY AND BETWEEN

 

YEDA RESEARCH AND DEVELOPMENT COMPANY LTD.

of P.O. Box 95, Rehovot 76100, Israel

(hereinafter “Yeda”)

 

and

 

BRAINSWAY, INC.

a company duly registered under the laws of the state of Delaware, U.S.A

(hereinafter “the Company”)

 

WHEREAS                                 Yeda and the Company (collectively, “the Parties”) are parties to a Research and License Agreement dated June 2, 2005, as amended by the First Addendum Agreement effective from June 1, 2007; the Second Addendum Agreement effective from August 20, 2008; the Third Addendum effective from March 23, 2010 (“Third Addendum”); the Fourth Addendum Agreement effective from August 1, 2009 (as amended by the First Amendment to the Fourth Addendum dated May 11, 2010) (all of the above, together, “R&L Agreement”); and

 

WHEREAS                                 in the course of research conducted at the Institute, Prof. Elisha Moses of the Department of Physics of Complex Systems, together with other scientists of the Institute (“rfTMS Inventors”) arrived at an invention (“rfTMS Invention”) relating to Rotating Field Transcranial Magnetic Stimulation (rfTMS), as more fully described in PCT patent application number PCT/IL2010/000171 entitled “MAGNETIC CONFIGURATION AND TIMING SCHEME

 

	
Ref: 09-2595-17-66
    	
No.: 007_200098
    

 

1

 

FOR TRANSCRANIAL MAGNETIC STIMULATION” and corresponding patent applications and patents (Yeda reference number 2009-014), all as listed in the patent card attached as Annex A(1) hereto (“rfTMS Patent”), and created and/or generated the know-how and/or materials and other information relating to the rfTMS Invention as described in Annex A(2) hereto (the said know-how, materials and information, together with the rfTMS Invention, “rfTMS IP”); and

 

WHEREAS                              the Company wishes to conduct an internal evaluation as detailed below, following which the Company may elect, in the manner set forth below, to obtain a license to the rfTMS IP and rfTMS Patent, for the research, development, manufacture or sale of any therapeutic product, apparatus, or device within the field of transcranial magnetic stimulation, under the terms and conditions set out below; and

 

WHEREAS                              in connection with this evaluation, the Company wishes to provide funding, in the manner set forth below, which will include “Magneton” funding, with respect to a clinical study to be performed at Geha Mental Health Center, intended, inter alia, to gauge the efficacy of the rfTMS Invention,

 

NOW THEREFORE THE PARTIES HERETO AGREE AS FOLLOWS:

 

1.                                      Terms and phrases included in this Addendum which are defined in the R&L Agreement shall have the same meaning attributed to them in the R&L Agreement, unless otherwise defined in this Addendum.

 

2.                                      This Addendum and the R&L Agreement shall be read as one, and shall represent the complete, current understanding between the Parties with respect to the subject matter hereof. Subject to the modifications contained herein, all provisions of the R&L Agreement shall remain unaltered and in full force and effect.

 

3.                                      The preamble and annexes hereto form an integral part of this

 

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Addendum, and are incorporated herein by reference.

 

Clinical Study and Funding

 

4.                                      Yeda will procure the conduct of a clinical study at Geha Mental Health Center in accordance with the work plan attached hereto as Annex B (“Clinical Study” and “Work Plan”).

 

5.                                      The Parties shall fund the Clinical Study as follows:

 

5.1                               The Company submitted a Magneton application to the Israel Innovation Authority (“IIA”) in October 2017, to conduct the Clinical Study and Evaluation (as described in Section 10, below), a copy of which is attached hereto as Annex C, which was subsequently granted in December 2017. The Company shall remit to Yeda such portion of the Magneton Funding intended for Yeda, constituting 66% of the full budget for Yeda’s activities, and the Company shall remit to Yeda the remaining 34% of the budget for Yeda’s activities. The Company shall remit to Yeda the portion of the budget, as described above, for each respective year of the twenty-four (24) month Magneton period, on a quarterly basis in equal installments, within thirty (30) days of receipt of each quarterly installment; however in the event of the remittance by Magneton to the Company of advances of amounts greater than equal quarterly payments, then the Company shall remit amounts earlier to Yeda accordingly.

 

5.2                               The Company shall promptly provide Yeda with copies of all notices, reports, and other correspondence exchanged between Company and IIA with respect to the Magneton application and funded research.

 

6.                                      Brainsway will provide assistance for the Clinical Study as detailed in the Work Plan.

 

7.                                      If Prof. Elisha Moses of the Department of Physics of Complex Systems

 

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shall cease to be available for the performance of the Clinical Study, such cessation shall not constitute a breach of this Agreement by Yeda.  In such event, Yeda shall use its reasonable efforts to find, from amongst the scientists of the Institute, a replacement scientist acceptable to the Company, but gives no undertaking to find such a replacement.  If no such acceptable replacement scientist can be found within sixty (60) days of the scientist becoming unavailable as aforesaid, then the Company shall be entitled, by written notice to Yeda, to terminate this Agreement, and in such case, termination shall become effective at the end of a further period of thirty (30) days from the date of receipt by Yeda of such written notice.  In the event of such termination, Yeda shall be released from any obligation to procure the performance of the Clinical Study during the period after such effective date of termination, and the Company shall be released from any obligation to finance the Clinical Study, other than any related amounts due at the time of termination or any other non-cancellable costs and expenses.

 

8.                                      It is hereby specifically agreed and acknowledged that Brainsway will not serve as a sponsor of the Clinical Study. The Company shall not be obligated to indemnify Yeda for liabilities resulting from injury to participants in the Clinical Study caused solely by the negligence or willful misconduct of Yeda and/or the rftMS inventors, in performance of the Clinical Study.

 

Nothing in this Agreement shall constitute a representation or warranty by Yeda, express or implied, that the Clinical Study shall be performed or that any results will be achieved by the Clinical Study, and Yeda furthermore makes no warranties or representations, express or implied, whatsoever as to the Clinical Study.

 

9.                                      The Company acknowledges that Yeda has no contract with Geha Mental Health Center with respect to any intellectual property rights which may arise from the Clinical Study, and further acknowledges that it is unlikely that new intellectual property or inventions will arise from the Clinical

 

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Study. In the event that intellectual property or inventions will arise in connection with the Clinical Study, Yeda shall make commercially reasonable efforts to negotiate with Geha Mental Health Center as needed, in order to secure the rights to such intellectual property and inventions, to the extent necessary or desirable for the inclusion of the rfTMS IP and rfTMS Patent in the License, if the Company’s Option (as defined in Section 13, below) is exercised, and Yeda makes no representation or guarantee in this regard. Furthermore, to the extent there are any intellectual property claims or claims for royalties asserted or raised by Geha Mental Health Center which relate to or arise from the Clinical Study, Yeda shall cover any and all such claims up to the total aggregate amount of royalties received by Yeda from Brainsway under this Fifth Addendum.

 

Evaluation of rfTMS IP

 

10.                               Yeda hereby grants the Company the right to conduct a limited evaluation (“Evaluation”) of the rfTMS IP and the rfTMS Patent and any related know how generated or created in connection with the performance of the Clinical Study (“Know How”) to determine the desirability of exercising the Company’s Option. The Company’s right to conduct the Evaluation shall expire on the earlier of (a) December 31, 2018, and (b) thirty (30) days following the achievement of all milestones described in Table 2 of Annex B (“Evaluation Deadline”).  If actions described in Table 1 of Annex B are not fully performed by December 31, 2018, for reasons other than the Company’s non-compliance or delay in performance of its obligations under the Work Plan, then the Evaluation Deadline shall be extended until the earlier of (y) the full performance of the actions described in Table 1 of Annex B, and (z) June 30, 2019; however the Parties may, subject to the discretion of each party in good faith, agree to further extend the Evaluation Deadline until those actions are fully performed (the “rfTMS Extension Period”).  All dates are subject to requirements for Magneton funding.

 

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Yeda grants the Company an exclusive, non-assignable, royalty-free license to all data, results, reports and other work product that may be obtained or generated in the course of performance of the Clinical Study (collectively: the “Clinical Results”), and will ensure that access to such Clinical Results is provided to Brainsway during the course of the Clinical Study, for the sole purpose of conducting the Evaluation, during the period commencing from the Effective Date of this Agreement and expiring sixty (60) days after the Evaluation Deadline or rfTMS Extension Period as applicable (the “Option Period”). Upon request, and with the context of such license, the Company will be provided with a copy of all Clinical Results and Know How, in confidence and upon becoming available.

 

Title: Option

 

11.                               All right and title to the rfTMS IP, rftMS Invention, rfTMS Patent, Know How, Clinical Results, and all patent applications and patents derived from the Clinical Results, if any, shall vest exclusively in Yeda.

 

12.                               Yeda grants the Company the exclusive right and option, exercisable by written notice during the Option Period, to amend the R&L Agreement in the manner set forth below (the “Company’s Option”):

 

The rfTMS IP, rftMS Invention, rfTMS Patent, Know How, Clinical Results, and all patent applications and patents derived from the Clinical Results (“Additional Licensed Information”) shall be deemed included as Licensed Information and Patents, as the case may be, under the R&L Agreement. For the avoidance of doubt, during the Option Period, and thereafter if the Company’s Option is indeed exercised, Brainsway shall be granted exclusive licensing rights with respect to the Additional Licensed Information. Yeda shall not be entitled to grant any licensing rights with respect thereto to any third parties, nor take any other steps for the commercialization thereof.

 

a.              any Clinical Results which constitute inventions or know-how,

 

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which neither constitute nor refer to the results of the Evaluation of the rftMS Invention, shall not be licensed to the Company hereunder;

 

b.              The License with respect to the Additional Licensed Information shall be limited to the use thereof for the research, development, manufacture or sale of any therapeutic, diagnostic, research or any other product, apparatus, or device solely within the field of transcranial magnetic  stimulation;

 

c.               The rfTMS Patent shall be subject to all provisions of the R&L Agreement, including, but not limited to, the provisions of clause 6 (PATENTS; PATENT INFRINGMENT) thereof; in addition, within thirty (30) days following the exercise by the Company of the Company’s Option the Company shall reimburse Yeda the sum of one hundred thirty-four thousand seven hundred and fifty-five (US $134,755) US Dollars + VAT, constituting the aggregate costs and fees paid or incurred by Yeda prior to the Effective Date in connection with the rfTMS Patent, and as a condition for the inclusion of the Additional Licensed Information in the License under the R&L Agreement as aforesaid. For the avoidance of doubt, should the Company’s Option not be exercised, Company will not be required to reimburse Yeda any of the amounts set forth in this paragraph whatsoever.

 

d.              Any product based on, the development, manufacture or sale of which is based, in whole or in part, on, or involves the use of, the Additional Licensed Information or any part thereof, or is otherwise covered  (in whole or in part) by, or falls within the scope of, or which are produced or manufactured using a process or method covered by, or falling within the  scope of, any claim under the rfTMS Patent (including under any patent application falling within the definition of Patents) (“rfTMS Product”), shall be deemed a Product under the R&L Agreement, provided that the royalty rate applicable to Net Sales of rfTMS Products shall be subject to the

 

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following:

 

i.        for a rfTMS Product which, in addition to being a rfTMS Product as defined above, falls within the scope of, or which is produced or manufactured using a process or method covered by, or falling within the scope of, any claim under a Patent other than a rfTMS Patent (a “Combined  Product”) and which is not a U.S. DHHS Patent Protected Product, the royalty rate applicable under Section 9.1.2 of the Agreement and Section 6 of the Third Addendum shall be increased by an additional two (2%) percent;

 

ii.     for a Combined Product which is also a U.S. DHHS Patent Protected Product, the royalty rate applicable under Section 9.1.2 and Section 6 of the Third Addendum of the Agreement shall be increased by an additional  one point six (1.6%) percent; and

 

iii.  for a rfTMS Product which is not a Combined Product, the royalty rate under Section 9.1.2 of the Agreement and Section 6 of the Third Addendum shall be the fixed amount of five (5%) percent.

 

e.               The Company shall inform Yeda in writing of the First Commercial Sale in each country of an rfTMS Product, and, without derogating from clause 9.3.2.1 of the R&L Agreement, the Company shall include a breakdown of sales based on the type of each rfTMS Product in its reports under clause 9.3.2 of the R&L Agreement. In the event that rfTMS Products which constitute Products which were initially developed and/or sold as non-rfTMS Products, are thereafter used or converted into rfTMS Products, under the License granted under this Addendum (“Upgraded Product”), the Parties agree that:

 

i.        the License term set out in clause 7.3 of the R&L Agreement shall be measured based on the First Commercial Sale of the Upgraded Product after it has

 

8

 

become an rfTMS Product, and not based on the First Commercial Sale of such Product prior to becoming an Upgraded Product, provided that, in the event the License term set out in clause 7.3 of the R&L Agreement applicable to such Upgraded Product would have otherwise expired had it not become an rfTMS Product as aforesaid (the “First Expiration Date”), then the royalty rate applicable to such Upgraded Product hereunder, beginning from the First Expiration Date until the end of the relevant License term for such Upgraded Product shall be the fixed rate of two (2%) percent; and

 

f.                Upon exercise of the Company’s Option, the Company shall implement the Development Program attached hereto as Annex D for the development of rfTMS Products (such Development Program called “the rfTMS Development Program”). The Company may periodically update the rfTMS Development Program, based on reasonable grounds to be communicated to Yeda in writing, subject to the Company’s discretion and without derogating from the milestones set out therein (“the rfTMS Milestones”). The rfTMS Development Program shall be considered a Development Program under the R&L Agreement for all intents and purposes. The rfTMS Milestones set forth in Annex D hereto, which shall be deemed an integral part hereof, shall apply in connection with the rfTMS Products. Notwithstanding clause 13 of the R&L Agreement, if any of the aforesaid rfTMS Milestones in this clause 6 and Annex D has not been reached by the Company within the applicable time period, the Company shall have an additional period of six (6) months to cure and to reach the applicable rfTMS Milestone, provided that: (i) the aggregate amount of any and all of the above cure periods applied in order to postpone the final date for the achievement of the said rfTMS Milestones shall not exceed twelve (12) months (the “Aggregate Delay”), however for delays relating to the last

 

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three (3) rfTMS Milestones caused by regulatory bodies such as the FDA (including applicable related rules and regulations), the Aggregate Delay will be extended to a total maximum delay of twenty-four (24) months; and (ii) the Company shall use reasonable commercial efforts to prevent and/or mitigate the duration of such delay, and that the Company has, as soon as reasonably practicable following such a delay, submitted an amended rfTMS Development Program to Yeda detailing how it reasonably intends to reach such rfTMS Milestone within the above-referenced cure period.  If the Company does not cure and reach the applicable rfTMS Milestone(s) as described above, Yeda may (effective immediately), as a sole remedy available thereto, exclude the rfTMS IP and rfTMS Patent from the License.

 

13.                               During the Option Period, the Company shall reimburse Yeda, upon such frequency as determined by Yeda, for ongoing patent expenses incurred during such period in connection with the rfTMS Patent. During the Option Period, the Company shall, subject to the Company’s consent, provided on a case-by-case basis, reimburse Yeda, upon such frequency as determined by Yeda, for patents based on the Clinical Study results, incurred and paid by Yeda at Yeda’s discretion.  Reimbursement shall be made against written proof of actual expenses borne by Yeda, and shall be made against invoices. However, Yeda shall be entitled to abandon any patent, or exclude it from the Option, in the event that the Company elects not to pay the costs of such patent.

 

14.                               If the Company does not exercise the Company’s Option within the Option Period, or if the Company notifies Yeda in writing, at any time, that it does not intend to exercise the Company’s Option and wishes to terminate this Addendum, this Addendum, and any corresponding right to add the Additional Licensed Information to the License, shall immediately terminate. The provisions of Sections 5.1, 16, and 17 hereof shall survive the termination of this Addendum. Termination of this Addendum shall not affect the validity of the R&L Agreement.

 

15.                               Each Party shall maintain confidential information (in writing or otherwise)

 

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received from the other Party in connection with the Clinical Study, in strict confidence, and shall not use such information, except as required for the performance of the Clinical Study or as otherwise explicitly allowed by this Addendum. The provisions of the R&L Agreement relating to confidentiality shall be extended to apply to such confidential information. All publications relating to the Clinical Study shall be subject to the applicable provisions of the R&L Agreement.

 

16.                               The Work Plan may be amended only upon written consent of the Company and Yeda.

 

Additional Amendments; Clarifications

 

17.                               Sub clause 9.1.2.2(ii) of the R&L Agreement shall hereby be deleted in its entirety and replaced with the following:

 

“(ii)                      in the event that in any calendar year during the term of this Agreement commencing on the first day of January of the first calendar year following the date of expiry of the research (as extended, if extended, pursuant to the last sentence in clause 2.1 above), the total royalties payable by the Company to Yeda in respect of Net Sales of Products shall be less than six thousand (US $6,000) United States Dollars, the Company shall pay to Yeda, within thirty (30) days after the end of such calendar year, in addition to such royalties as aforesaid, the sum being the difference between six thousand (US $6,000) United States Dollars and such total royalties payable in such calendar year; and”

 

18.                               The rfTMS Inventors shall be considered “Scientists” under clauses 7.4.3, 10 and 12.1 of the R&L Agreement.

 

19.                               Unless set forth expressly herein, this Addendum is not intended to limit the scope of the License granted under the R&L Agreement that is not the subject matter of this Addendum.

 

20.                               The Company acknowledges that the rfTMS technology was developed, in whole or in part, utilizing funding from the “Kamin” program of the Israel Innovation Authority, and accordingly may be subject to restrictions on

 

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overseas transfer, licensing and manufacture pursuant to the Encouragement of Research and Development Law of 1984 and the rules of the Israel Innovation Authority.

 

IN WITNESS WHEREOF, THE PARTIES HERETO HAVE SET THEIR SIGNATURES ON THE DATE FIRST MENTIONED ABOVE.

 

	
/s/ Gil Granot-Mayer
    	
 
    	
 
    
	
/s/ Prof. Mudi Sheves
    	
 
    	
/s/ Yaacov Michlin
    
	
YEDA   RESEARCH AND
    	
 
    	
BRAINSWAY, INC.
    
	
DEVELOPMENT   COMPANY LTD.
    	
 
    	
 
    

 

12

 

Annex A(1)  - rfTMS Patent Card

 

PATENT CARD

2009-014

 

Title: MAGNETIC CONFIGURATION AND TIMING SCHEME FOR TRANSCRANIAL MAGNETIC STIMULATION

 

Inventors: MOSES Elisha, ROTEM Assaf

 

	
Country
    	
 
    	
Application
    	
 
    	
Publication
    	
 
    	
Grant
    	
 
    	
Status
    
	
U.S.A
    	
 
    	
02/03/2009 - 61/156,835
    	
 
    	
—
    	
 
    	
—
    	
 
    	
Expired
    
	
PCT
    	
 
    	
02/03/2010 - PCT/IL2010/000171
    	
 
    	
10/09/2010 - WO 2010/100643
    	
 
    	
—
    	
 
    	
Expired
    
	
European Patent Office
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
Pre-filing
    
	
European Patent Office
    	
 
    	
02/03/2010 - 10710911.8
    	
 
    	
18/01/2012 - 2 405 970
    	
 
    	
—
    	
 
    	
Allowed
    
	
France
    	
 
    	
02/03/2010 - 10710911.8
    	
 
    	
18/01/2012 - 2 405 970
    	
 
    	
—
    	
 
    	
Pre-filing
    
	
Germany
    	
 
    	
02/03/2010 - 10710911.8
    	
 
    	
18/01/2012 - 2 405 970
    	
 
    	
—
    	
 
    	
Pre-filing
    
	
Italy
    	
 
    	
02/03/2010 - 10710911.8
    	
 
    	
18/01/2012 - 2 405 970
    	
 
    	
—
    	
 
    	
Pre-filing
    
	
Spain
    	
 
    	
02/03/2010 - 10710911.8
    	
 
    	
18/01/2012 - 2 405 970
    	
 
    	
—
    	
 
    	
Pre-filing
    
	
United Kingdom
    	
 
    	
02/03/2010 - 10710911.8
    	
 
    	
18/01/2012 - 2 405 970
    	
 
    	
—
    	
 
    	
Pre-filing
    
	
Israel
    	
 
    	
02/03/2010 - 214905
    	
 
    	
—
    	
 
    	
214905 - 30/03/2017
    	
 
    	
Granted
    
	
Israel
    	
 
    	
02/03/2010 - 230414
    	
 
    	
—
    	
 
    	
230414 - 30/03/2017
    	
 
    	
Granted
    
	
Japan
    	
 
    	
02/03/2010 - 2011-552573
    	
 
    	
23/08/2012 - 2012-519050
    	
 
    	
5688380 - 30/01/2015
    	
 
    	
Granted
    
	
U.S.A
    	
 
    	
02/03/2010 - 13/254,361
    	
 
    	
01/03/2012 - 2012-0053449
    	
 
    	
9,067,052 - 30/06/2015
    	
 
    	
Granted
    
	
U.S.A
    	
 
    	
02/03/2010 - 14/714,368
    	
 
    	
03/09/2015 - US-2015-0246238-A1
    	
 
    	
—
    	
 
    	
Allowed
    

 

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Annex A(2)  - rfTMS Know-How

 

In general:

 

The forces applied by magnetic pulses of magnitudes necessary for TMS are stretching the limit of material strength of the coils. This poses limits on achievable fields under safety restrictions. In addition, trial and error with magnetic coils is undesirable as it is often causes irreversible damage to the coil, often resulting in loss of valuable time and funding and in increased safety issues during R&D. Any know-how technology that can relieve this limitation fully or in part will improve the development process and the final performance of a TMS system. We possess such knowledge at multiple phases of system development:

 

Design:

 

Correct mutual Inductance between the two coils is crucial for controlling the forces within and between coils, as well as the resulting pulses waveforms. We have computed and measured the mutual inductance of many different configurations of double coils, and therefore have the knowledge and experience to predict a-priori which configuration can be successful and which may fail.

 

Fabrication:

 

After having fabricated numerous coils in-house we have the experience and knowledge of material choice and fabrication processes for magnetic coils that can safely withstand high fields (up to 10T) and the resulting forces. The possible angles that can be acceptable between the two coils are limited, and we have some experience with this.

 

Operation:

 

The waveforms and the resulting forces of magnetic pulses in the double coil are very sensitive to the triggering configuration used. After experimenting with numerous such temporal configurations we have the experience and knowledge to predict a-priori which configuration can be successful and which may fail. The issue of the third dimension is particularly important, since we rotate the field only in a plane.

 

In addition, we have experience and knowledge in correct interface between double coils and commercially available power supplies.

 

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Annex B — Work Plan

 

Rotational field TMS (rfTMS) - Workplan

 

Brainsway and Yeda want to evaluate the rfTMS technology. The evaluation will be performed according to the current workplan as detailed below:

 

1. Brainsway submitted a Magneton application, accompanied by supporting documents provided by Yeda, to the Israel Innovation Authority / Rishut Lihadshanut (“IIA”), for the development of the rfTMS technology, in October 2017.

 

2. Yeda will procure that Prof. Elisha Moses will conduct a clinical trial in major depression disorder (MDD) patients in Geha Mental Health Center (“Geha”). Prof. Elisha Moses has already obtained Helsinki Committee approval for the study.

 

3. Yeda and Prof. Elisha Moses will procure that the supervisor of the Clinical Trial at Geha shall submit, for approval, an amendment to the Helsinki Committee, in accordance with the following modifications:

 

a. The study will be performed with a deep TMS dual-coil array, that will be developed by Brainsway, and with a single H10 coil that will be supplied by Brainsway. Brainsway will also provide an EMG system for the performance of the study (all such devices to be used solely in the conduct of the study, and to be returned to Brainsway upon completion or termination of the Study, as applicable).

 

b. The following procedures will be added to the study protocol, which protocol is attached hereto as part of the work plan and will be performed as part of the clinical trial:

 

1.              Leg motor threshold: Rotational field (RF) with dual deep TMS H10 coil vs. single H10 coil. The H10 coil is designed and was shown to stimulate effectively the leg motor cortex.

 

Hypothesis: We found in previous studies that the directionality in the leg motor cortex is low, and the motor threshold with postero-anterior and lateral-medial directions is similar.  Hence we hypothesize lower threshold with use of RF dual coil due to greater population of relevant neurons with various orientations recruited by the RF dual stimulation.

 

Procedure: in each subject the leg motor threshold will be determined with the dual deep TMS H10 coil, with a H10 coil oriented along postero-anterior axis, and with a H10 coil oriented along lateral-medial axis.

 

2.              Paired pulse LICI measurement in motor cortex: RF dual deep TMS H10 coil vs. single H10 coil.

 

Hypothesis: Greater degree of inhibition measured by EMG (motor) between coils due to greater proportion of relevant GABA neurons recruited by RF-dual coil.

 

Procedure: in each subject a LICI protocol will be applied with the dual deep TMS H10 coil and with a H10 coil, over the motor cortex. The long term intracortical inhibition (LICI) will be measured using EMG.

 

3.              Plasticity measurements: Low (LF) and high frequency (HF) rTMS in motor cortex: RF dual deep TMS H10 coil vs. single H10 coil.

 

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Hypothesis: Influence of greater degree of plasticity assessed in the following manner:

 

·                  for stimulation of the primary motor cortex, as a larger change in EMG signal (motor target)

 

Procedure: in each subject a session of LF rTMS (1 Hz) and a session of HF rTMS (10 Hz) will be applied with the dual deep TMS H10 coil and with a H10 coil, over the motor cortex. The motor cortex excitability will be measured using EMG following each session Each session will be applied on a separate day.

 

4. Brainsway will train the study operators in Geha in the performance of the procedures listed in #3.

 

Table 1: Timeline for Clinical Trial

 

	
Action
    	
 
    	
Date
    	
 
    	
Responsibility
    
	
Submission of Magneton
    	
 
    	
Oct 2017
    	
 
    	
Brainsway & Yeda
    
	
File amendment to Geha Helsinki committee
    	
 
    	
Feb 2018
    	
 
    	
Supervisor of clinical trial at Geha, procured by   Yeda and Prof. Elisha Moses, and subject to Helsinki committee’s approval
    
	
Complete development of a H10 dual-coil array, and   install a H10 dual-coil array and a H10 coil at Geha
    	
 
    	
Apr 2018
    	
 
    	
Brainsway
    
	
Train operators in Geha to perform procedures added   to the modified protocol
    	
 
    	
Apr 2018
    	
 
    	
Brainsway
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Complete Clinical Trial as described herein
    	
 
    	
Dec 2018
    	
 
    	
Yeda
    

 

Table 2: Milestones

 

	
Milestone
    	
 
    	
Date
    
	
Demonstration of advantage of rfTMS over single coil   TMS in leg motor threshold
    	
 
    	
Dec 2018
    
	
Demonstration of advantage of rfTMS over single coil   TMS in the degree of inhibition in LICI protocols
    	
 
    	
Dec 2018
    
	
Demonstration of advantage of rfTMS over single coil   TMS in neuroplastic changes following HF and LF rTMS sessions
    	
 
    	
Dec 2018
    

 

16

 

The Geha Mental Health Center

Affiliated with Tel Aviv University

The Sackler Medical Faculty

 

Treatment of Depression with Repetitive Transcranial Magnetic Stimulation

Using a Rotating Magnetic Field

 

Dr. Shmuel Hess, Prof. Avi Weizman, Prof. Avi Valevski, Dr. Yuri Burnishev, Prof. Elisha Moses

 

— Research Proposal —

 

Version 3

Dated: December 3, 2017

 

1.              Scientific background

 

Clinical depression is one of the most common mental disorders. The condition is characterized mostly by a combination of a number of symptoms such as pessimism, loss of interest or pleasure, major weight change or change in appetite, fatigue or loss of energy, sleep disorder, loss of concentration, feelings of guilt, thoughts of death, etc. that last at least two weeks. In various studies, the average incidence of this disorder worldwide is between 5% and 15% annually. This situation adversely affects many areas of a person’s life, such as family, work and studies, quality of life and general health. It can be a considerable burden on the health services and at the

 

17

 

same time can cause major functional damage, including loss of ability to work and alcoholism.

 

The most accepted treatments in situations of depression are currently therapeutic treatment and psychotherapeutic treatment (on their own or in combination). However, there are cases in which these treatments do not lead to the desired results and to the patient’s remission (1-3). Between 20% and 40% of patients do not respond to the existing therapeutic treatment or to a combination of therapeutic treatment and psychotherapeutic treatment (4).

 

In cases of persistent depression, patients who do not respond to the standard treatment occasionally switch to treatment with electro convulsive therapy. This treatment is considered the most effective (5) but is administered under general anesthetic, and apart from the risks of the anesthesia, it involves side effects, including a risk of developing cognitive disorders and permanent damage (6). 

  Transcranial Magnetic Stimulation (TMS) is a non-invasive method in which the nerve cells in specific regions of the brain can be stimulated. This method, which has been in use for 20 years, works by means of a coil into which flows a pulsating electrical current. During pulsation, the current in the coil causes electromagnetic induction that permeates into the brain and creates an electrical field that arouses the nerve cells in the brain in the region at which the coil is directed.

 

In the last few years, use has been made of Repetitive Transcranial Magentic Stimulation (rTMS) in the treatment of depression, whereby the TMS device is operated at a number of consecutive pulses at a certain frequency. This treatment is non-invasive, is administered when the patient is fully conscious, and has few side effects. In depressive patients with no psychotic component it is even as effective as the electro convulsive therapy (7). TMS has been approved by the FDA for major depressive disorder in patients who are not responsive to the standard treatment (8).

 

The assumption is that in a state of depression there is an asymmetry in brain activity in the frontal lobe with resultant hypoactivity in the left Dorsolateral Prefrontal Cortex (DLPFC) and hyperactivity in the right DLPFC. The DLPFC is TMS sensitive and synaptically connected to the limbic system associated with the regulation of mood.

 

The current most common protocols for treating depression using rTMS are: application of TMS to the left DLPFC at a high frequency of between 5-20Hz, a treatment that is thought to stimulate activity and on which the FDA (10-20Hz) protocol is based, or applying it at a lower frequency of 1Hz to the right DLPFC, a treatment that is thought to reduce activity. Two types of protocols have been found to be effective in the treatment of depression (9-10), however no advantage has been found in combining both options (11). The highest frequency protocol has a broader research base and has a better chance of being effective and was therefore chosen for this study. Meta-analyses have shown that the treatment with the highest frequency directed towards the left DLPFC is effective in the treatment of depression

 

18

 

in comparison with sham stimulation (12-14). The medical center that administers TMS treatments has examined the first hundred subjects who received the treatment after it was approved by the FDA and showed that TMS was indeed effective in the treatment of depression (15). Another study also showed an improvement with the more intensive treatment of twice a day for a total duration of only two weeks (16).

 

Another method for treating persistent depression is deep TMS in which the magnetic field created by the coil permeates deeper into the brain in comparison with the field created by the standard coils. The Israeli company Brainsway, which has developed a coil of this type, has shown that it is effective in the treatment of depression (17) and has also received FDA approval for the treatment of depression using this device (18).

 

Another location for the treatment of depression is the medial prefrontal cortex (MPFC). The Brainsway H7 coil is designed to stimulate this region and has shown good results in depressive patients (19).

 

However, the current application of TMS for research and treatment of brain disorders is still restricted by great differentiation, and it is difficult to obtain uniform brain reactions among the subjects. Recently conducted studies have shown that one of the reasons for this is the angular sensitivity of TMS.

 

A new coil, the cloverleaf coil, has been developed by the Weizmann Institute and is specially adapted for the existing TMS system (20). This coil more effectively activates the region at which it is directed and thus improves the angular sensitivity of TMS. This improvement is made by rotating the magnetic field achieved by superposition of the fields of two coils in the common figure-of-eight configuration with a rotating field and a diameter of 79 mm located perpendicular to each other and operating with a phase time difference. Rotating field TMS facilitates the optimal location of the regions in the brain for which it is impossible to know the correct direction of the stimulation. The figure-of-eight coil used in most rTMS studies for the treatment of depression activates neurons with axons in only one specific direction parallel to the magnetic field, whereas the cloverleaf activates neurons with axons that go in all directions in a plane on which the magnetic field is exerted. A comparison can be seen in figure 1 from (20) between the angular sensitivity of both coils, expressed in a measurement of the thumb’s response after a pulse that activates it in the human motor cortex, which demonstrates the advantage the cloverleaf coil’s angular sensitivity has over the figure-of-eight coil (20). Unlike the deep TMS treatment that requires an original system, the cloverleaf coil can connect to standard TMS systems.

 

As previously explained, in the standard TMS treatments of depression, patients vary in their response to the treatment which may be due to the angular sensitivity. In this study we will therefore examine if use of this new technology which has been found

 

19

 

to be effective, can lead to a greater improvement in the treatment of depressive patients in comparison with treatment using the commonly used coil.

 

In order to test this, the study will be double blind, so that only at the end of the follow up will it be possible to make a connection between the patient’s details and their serial number used in the trial. The cloverleaf coil may also be operated in the single configuration of figure-of-eight, so that both the subject and the person conducting the trial cannot know in which trial conditions they are.

 

In addition and in parallel, the increased effect of rotating the magnetic field using a deep TMS device will be examined by expanding the configuration of the Brainsway H7 coil. The expansion of deep TMS into a rotating field is achieved in the identical fashion to the figure-of-eight coil, in other words a configuration of two coils perpendicular to each other and operated by a quarter turn of the power supply of one coil with respect to the H7 and Dual H7 devices independently.

 

The purpose of the study

 

Improvement in the symptoms of depression after treatment with rTMS using the cloverleaf coil (or Dual H7).

 

The study assumption

 

The treatment with the cloverleaf coil (or Dual H7) will be more effective than the treatment with the most commonly used coil, the figure-of-eight coil (or H7).

 

2.              The study methodology

 

Subjects

 

Number of participants: 64. The number was determined on the basis of the results in (21), in order to reach a statistical power of 90% and one-tailed test alpha of 5% in favor of the cloverleaf coil or Dual H7. Based on a standard t test, the difference in effectiveness between the coils independent of frequency is expressed by a drop of two points more than for the figure-of-eight or H7 coil, respectively, indicating the HAM-D/17 after 20 treatments.

 

Recruitment

 

The subjects in the trial will be recruited from patients in one of the Geha’s hospitalization departments (inpatients or patients being monitored), from patients in the Geha outpatient clinics or from those referred to the Geha E.R. All the subjects will be interviewed and examined on their medical history so that only suitable subjects will be recruited.

 

20

 

Criteria

 

Inclusion: Every patient, male or female, in an age range of 18-75 who comes to be examined or monitored or for treatment in one of the Geha units, diagnosed as suffering from persistent depression according to DSM-5 (24), who failed in at least one other therapeutic treatment with antidepressants according to the criteria in B(22), with a current episode of at least three years, with a score of 18 or more in HAM-D/17, and capable of providing written informed consent to being included in the study.

 

Exclusion: Inability to sign an informed consent, subjects suffering from intellectual disorders or clear cognitive deterioration. Subjects who have had a guardian appointed, subjects who have been diagnosed as suffering from a psychotic condition; subjects diagnosed as suffering from epilepsy or who have a first-degree family member with known epilepsy; subjects with a pacemaker or with a metal/magnetic component in the head or near it; subjects who are taking medications that lower the threshold for an epileptic attack (23); subjects diagnosed as suffering from PTSD or an eating disorder in the last year; or pregnant women.

 

Withdrawal from the trial: At any stage during the trial, if the subject feels unwell during the treatment and asks to stop the trial; if the subject’s condition deteriorates between the tests; if in parallel to participation in the study, there is a significant change in the relevant permanent treatment for the disorder; or a subject who has not completed five treatments a week (at the discretion of the principal investigator).

 

Trial design

 

Under all trial conditions, the cloverleaf (or Dual H7) coil will be used and operated by two Magstim Rapid1 (Magstim Company Ltd., Wales, UK) devices specially adapted with an external control box. In this format it is possible to choose to operate the coil in a figure-of-eight (or H7) configuration by operating only one device, or in the form of a rotating field by operating both devices with a fixed time difference.

 

The TMS parameter

 

A standard calibration test will be conducted at the start of every treatment in order to determine the strength of the pulse. The strength will be determined according to the resting motor threshold which will be ascertained by delivering single pules to the left motor cortex, and gradually increasing the strength until a response of at least 50μv is measured by an electromyogram device (EMG) in the activity of the right thumb muscle, and by visual feedback. The coil will be placed over the cortex using a mechanical arm with the subject’s head kept in place with a chin and forehead rest. In any event, the strength will remain within the safety limits (23).

 

 

1

 

21

 

In high frequency conditions, the pulse power is set to 120% of the motor threshold power measured at the start of the meeting. The subject will receive 55 series of treatment at a frequency of 18Hz, at intervals of 2 seconds pulses and 20 seconds rest, directed at the left DLPFC or at the MPFC. The subject will receive a total of 1980 pulses during each meeting (21).

 

In low frequency conditions, the pulse power is set to 110% of the motor threshold power measured at the start of the meeting. The subject will receive four series of treatment at a frequency of 1Hz, at intervals of 180 second pulses and 30 seconds rest, directed at the right DLPFC or at the MPFC. The subject will receive a total of 720 pulses during each meeting (21).

 

The parameters in the FDA-approved protocol are: a pulse power of 120% of the motor threshold power, 75 series of treatment at a frequency of 10Hz at intervals of 4 seconds pulses and 26 seconds rest, directed at the left DLPFC. A total of 3000 pulses. The parameters in this research proposal can be seen to be less intensive than the parameters of the FDA protocol, in order to keep within the safety margin with the new coil.

 

3.              The study protocol

 

The study will be conducted in the Geha Mental Health Center.

 

The subjects will come for four weeks of treatments, one treatment every day (Sunday thru Thursday) — a total of 20 meeting over a period of 4 weeks.

 

Before the trial begins, the subjects will sign an informed consent and will complete a standard demographic questionnaire.

 

At the start of every meeting, the patient’s motor threshold will be tested and then headphones will be put on them.

 

The responses to standard and correct operation of the rotating field in the motor regions will be checked in relation to the standard coil. Every Sunday in the first three weeks of treatment, one of the following tests will be conducted in combination with the EMG system.

 

1.  A motor stimulation threshold will be established for the region operating the leg with a double coil as against two perpendicular states of directionality of the standard single coil — posterior-anterior and lateral-medial.

2. A double-pulse stimulation to create long-interval intracortical inhibition (LICI) in the motor region. A first pulse with a rotating field is expected to be more effective at stimulating inhibition due to multiple excitations of the GABA cells.

3. Measuring plasticity in the response to stimulation at frequencies of 1Hz and 10Hz in a series of stimuli with a double coil rotating field, the excitability of the motor cortex will be measured with an EMG, and will also be measured after the series.

 

22

 

In accordance with the trial conditions, the TMS coil will be placed on the subject over the left or right DLPFC for the entire treatment. The DLPFC will be located by: measuring 6 centimeters anterior from the motor point at which the hand is operated or by using an EEG in a 20/10 configuration, and locating the coil above the location of the 3F or 4F electrode depending on the side to be stimulated.

 

The subjects will be divided randomly into two equal groups. One trial group will receive treatment with the figure-of-eight (or H7) coil and the other trial group will receive treatment with the cloverleaf (or Dual H7) coil. Both groups will receive treatment at frequency of 18Hz directed at the left DLPFC or the MPFC. After ten treatments, the subjects who did not respond to treatment (a reduction of <25% or a score of at least 18 in HAM-D/17) will transfer to the ten additional treatments in the parallel group. Those who began treatment with the figure-of-eight-coil will transfer to treatments with the cloverleaf coil and those who began treatment with the cloverleaf coil will transfer to treatment with the figure-of-eight coil.

 

Subjects who experience the treatment with 10Hz as too deep or intensive, will be offered a transfer to a low frequency of 1Hz directed at the right DLPFC and considered more tolerant.

 

Division of the groups

 

The subjects will be randomly and equally divided between the two trial groups using computer software. The investigator who conducts the trial will be blind to the coil’s status, since, as previously explained, this coil can operate both in the figure-of-eight (or H7) configuration and in the cloverleaf (or Dual H7) configuration without it being possible to distinguish between them.

 

After ten meetings the blind will be removed from anyone who has not responded to the treatment and he will be transferred for treatment with the other coil.

 

Clinical questionnaires

 

The questionnaires will be completed before the first meeting and after the fifth, tenth, fifteenth, and last meeting and two weeks after the end of the trial.

 

·                  Hamilton Depression Rating Scale-17 items (HAM-D/17)) — to rate the intensity of the depression.

·                  Quick Inventory of Depressive Symptomatology (QIDS) — self-report questionnaire to rate the intensity of the depression.

·                  Clinical Global Impression (CGI)

·                  Hamilton Anxiety Rating Scale (HAM-A) — to rate the intensity of the anxiety

·                  Fagerstrom Test for Nicotine Dependence (FTND) — to test for nicotine dependence among smokers

 

The main study variable: the intensity of the depression

 

23

 

The other study variables: the intensity of the anxiety and the characteristics of smoking

 

Statistical analysis

 

The data will be analyzed using Excel and Statistica software. The T, F and x2 tests to determine if the TMS treatment reduced the intensity of the depression, if there are significant differences between the coils, if there is an advantage to one paradigm over the other (18Hz compared with 1Hz), and if there has been an improvement after the transfer from one treatment to the other. Subjects who experience a reduction of more than 50% in the median in HAM-D/17 will be considered as responding to the treatments and a reduction to under a rating of 10 in HAM-D/17 will be considered as remission in the illness.

 

4.              Safety

 

The new coil in effect comprises two 70 mm diameter figure-of-eight coils perpendicular to each other (used by Dual H7) with the new coil installed in both H7 coils. These coils are used in their single configuration for most of the trials in the treatment of depression, until now with no technical malfunctions. The new coil has been meticulously tested and has a mechanism to prevent malfunctions such as overheating or electrocution in operation, precisely as for the single coil. The time intervals between the subjects will be sufficiently long (at least an hour between patients) to prevent the coil overheating.

 

All the parameters in the trial are protected by safety lines in (23). These lines describe the maximum intensity and frequency during the treatment, and these are kept within the study’s safety range. The subjects will be able to stop or leave the trial at any time, as they decide and as they wish, without any threat or concern of any kind being applied. If a significant deterioration in the subject’s condition between meetings is diagnosed, he will be removed from the study. The subjects will arrive on the recommendation of the medical team, so that only subjects suitable for the trial will be recruited. The trial will be conducted in the hospital so that the medical team will be nearby at all times in the trial. The investigator will also be present beside the patient at all times during the trial and can stop the treatment and remove the coil from the subject immediately, if so required.

 

The risks and/or discomfort that may be caused to participants in the study: discomfort from sitting for 20 minutes while receiving the treatment and the time necessary to complete the questionnaire. After the treatment, some patients report tenderness in the region of the stimulus, ringing in the ears, and slight tingling in the face that passes spontaneously. In exceptional circumstances, the treatment may induce an epileptic seizure. An epileptic seizure is a condition defined as passing

 

24

 

symptoms of a disease that is the result of increase electrical activity in the brain nerve cells. The external effect can be severe, such as movements and kicks (tonic clonic seizure) or mild, such as a brief loss of consciousness. However, the induction of an epileptic seizure as a result of the treatment is an extremely rare event among healthy subjects and if it occurs, it will be described mainly among those who have a background of suffering from epilepsy (extremely rare at low frequency, and at high frequency found in 1.4% of subjects with a background of epilepsy, and less than 1% among subjects with no background of epilepsy (23). All the subjects will have an EEG before the trial begins to rule out any concern over epilepsy. If there is an epileptic seizure, there will be a doctor and a nursing team nearby trained to treat this condition and with rapid access to first-aid equipment and advanced treatment, including anti-convulsive medications.

 

Bibliography

 

1.              Fava, M. (2002). The role of the serotonergic and noradrenergic neurotransmitter systems in the treatment of psychological and physical symptoms of depression. The Journal of clinical psychiatry, 64, 26-29.

 

2.              Berlim, M. T., & Turecki, G. (2007). Definition, assessment, and staging of treatment-resistant refractory major depression: a review of current concepts and methods. Canadian Journal of Psychiatry, 52(1), 46.

 

3.              Nemeroff, C. B. (2007). The burden of severe depression: a review of diagnostic challenges and treatment alternatives. Journal of psychiatric research, 41(3), 189-206.

 

4.              Greden, J. F. (2001). The burden of recurrent depression: Causes, consequences, and future prospects. Journal of Clinical Psychiatry.

 

5.              Rush, A. J., & Siefert, S. E. (2009). Clinical issues in considering vagus nerve stimulation for treatment-resistant depression. Experimental neurology, 219(1), 36-43.

 

6.              Minichino, A., Bersani, F. S., Capra, E., Pannese, R., Bonanno, C., Salviati, M,. Roberto Delle Chiaie, R., & Biondi, M. (2012). ECT,

 

25

 

rTMS, and deepTMS in pharmacoresistant drug-free patients with unipolar depression: a comparative review. Neuropsychiatric disease and treatment, 8, 55-64.

 

7.              Ren, J., Li, H., Palaniyappan, L., Liu, H., Wang, J., Li, C., & Rossini, P. M. (2014). Repetitive transcranial magnetic stimulation versus electroconvulsive therapy for major depression: a systematic review and meta-analysis. Progress in Neuro-Psychopharmacology and Biological Psychiatry, 51, 181-189.

 

8.              Melkersson, M. (2008). Special Premarket 510 (k) notification for neuroStar TMS Therapy System for Major depressive disorder. Food and Drug Administration.

 

9.              Lefaucheur, J. P., André-Obadia, N., Antal, A., Ayache, S. S., Baeken, C., Benninger, D. H., Cantello, R. M., Cincotta, M., Carvalho, M. D., Ridder, D. D., Devanne, H., Lazzaro, V. D., Filipovic, S. R., Hummel, F. C., Jääskeläinen, S. K., Kimiskidis, V. K., Koch, G., Langguth, B., Nyffeler, T., Oliviero, A., Padberg, F., Poulet, E., Rossi, S., Rossini, P. M., Rothwell, J. C.,  & Schönfeldt-Lecuona, C. (2014). Evidence-based guidelines on the therapeutic use of repetitive transcranial magnetic stimulation (rTMS).Clinical Neurophysiology, 125(11), 2150-2206.

 

10.       Dell’Osso, B., Oldani, L., Camuri, G., Dobrea, C., Cremaschi, L., Benatti, B., ... & Altamura, A. C. (2015). Augmentative repetitive Transcranial Magnetic Stimulation (rTMS) in the acute treatment of poor responder depressed patients: A comparison study between high and low frequency stimulation.European Psychiatry, 30(2), 271-276.

 

11.       Chen, J., Zhou, C., Wu, B., Wang, Y., Li, Q., Wei, Y., ... & Xie, P. (2013). Left versus right repetitive transcranial magnetic stimulation in treating major depression: a meta-analysis of randomised controlled trials. Psychiatry research, 210(3), 1260-1264.

 

26

 

12.       Ebmeier, K. P., Donaghey, C., & Steele, J. D. (2006). Recent developments and current controversies in depression. The Lancet, 367(9505), 153-167.

 

13.       Gaynes, B. N., Lloyd, S. W., Lux, L., Gartlehner, G., Hansen, R. A., Brode, S., ... & Lohr, K. N. (2014). Repetitive transcranial magnetic stimulation for treatment-resistant depression: a systematic review and meta-analysis. The Journal of clinical psychiatry, 75(5), 477-489.

 

14.       Slotema, C. W., Dirk Blom, J., Hoek, H. W., & Sommer, I. E. (2010). Should we expand the toolbox of psychiatric treatment methods to include Repetitive Transcranial Magnetic Stimulation (rTMS)? A meta-analysis of the efficacy of rTMS in psychiatric disorders. Journal of Clinical Psychiatry, 71(7), 873.

 

15.       onnolly, K. R., Helmer, A., Cristancho, M. A., Cristancho, P., & O’Reardon, J. P. (2012). Effectiveness of transcranial magnetic stimulation in clinical practice post-FDA approval in the United States: results observed with the first 100 consecutive cases of depression at an academic medical center. The Journal of clinical psychiatry, 73(4), e567-73.

 

16.       McGirr, A., Van den Eynde, F., Tovar-Perdomo, S., Fleck, M. P., & Berlim, M. T. (2015). Effectiveness and acceptability of accelerated repetitive transcranial magnetic stimulation (rTMS) for treatment-resistant major depressive disorder: An open label trial. Journal of affective disorders, 173, 216-220.

 

17.       Levkovitz, Y., Isserles, M., Padberg, F., Lisanby, S. H., Bystritsky, A., Xia, G., ... & Zangen, A. (2015). Efficacy and safety of deep transcranial magnetic stimulation for major depression: a prospective multicenter randomized controlled trial. World Psychiatry, 14(1), 64-73.

 

18.       FDA 510(k) No. K122288

 

27

 

19.       Tendler, A., E. Sisko, M. DeLuca, L. DeLuca, N. Rodriguez, S. Methott and J. SuHon (2016). Case series of deep repetitive transcranial magnetic stimulation to the medial prefrontal and anterior cingulate cortices after H1 failure. In: American Psychiatric Association Annual Meeting, Atlanta.

 

20.       Rotem, A., Neef, A., Neef, N. E., Agudelo-Toro, A., Rakhmilevitch, D., Paulus, W., & Moses, E. (2014). Solving the orientation specific constraints in transcranial magnetic stimulation by rotating fields. PloS one, 9(2), e86794.

 

21.       Fitzgerald, P. B., Hoy, K., Daskalakis, Z. J., & Kulkarni, J. (2009). A randomized trial of the anti-depressant effects of low-and high-frequency transcranial magnetic stimulation in treatment-resistant depression. Depression and anxiety, 26(3), 229-234.

 

22.       Sackeim, H. A. (2001). The definition and meaning of treatment-resistant depression. Journal of Clinical Psychiatry.

 

23.       Rossi, S., Hallett, M., Rossini, P. M., & Pascual-Leone, A., The Safety of TMS Consensus Group. (2009). Safety, ethical considerations, and application guidelines for the use of transcranial magnetic stimulation in clinical practice and research. Clinical neurophysiology, 120(12), 2008-2039.

 

24.       American Psychiatric Association. (2013). Diagnostic and statistical manual of mental disorders (5th ed.). Washington, DC.

 

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29

 

	

    	
Annex C — Magneton Application

State of Israel -   Economics

Innovation Authority — Generic   Technological Studies Administration
    	
 
    

 

Application for support for a Magneton project — 2017

 

	
Date   of application filing October 17, 2016
    

 

1.                            Details of the company and the application

 

	
Company name:  Moach Research   and Development Services Ltd.
    
	
Plant/Division:
    	
 
    
	
The study institution: Weizmann Institute
    	
Faculty:   Physics
    
	
Company   number in the Registrar of Companies/Partnerships 513443788
    	
Company   no. in the Office of the Chief Scientist (if known) 5175
    
			

 

	
Planned duration
   of the Magneton in
   months
    	
 
    	
R&D period for this plan
   From _ Until
    	
 
    	
Time scale for the
   development of the
   product after the end of the
   Magneton
    
	
24
    	
 
    	
Oct. 19, 2015
    	
 
    	
Oct. 17, 2016
    	
 
    	
3.5 years
    
							

 

	
Is this a new plan?   x
    	
Yes    ̈
    	
No, state number of   previous plan:
    	
Ending on:
    

 

2.                            Subject of the plan:

 

Development of a rotational field TMS system (rfTMS) for the treatment of cerebral disorders

 

3.                            Key personnel in the plan

 

	
Position
    	
 
    	
First name and
   family name
    	
 
    	
Telephone
    	
 
    	
Cellular
    	
 
    	
Fax
    	
 
    	
E-mail
    
	
Project manager in the company
    	
 
    	
Yiftach Roth
    	
 
    	
02-5824030
    	
 
    	
5665875-052
    	
 
    	
5812517-02
    	
 
    	
Yiftach@brainsway.com
    
	
Company contact person with the   Office of the Chief Scientist
    	
 
    	
Hadar Levi
    	
 
    	
02-5824030
    	
 
    	
054-5699133
    	
 
    	
5812517-02
    	
 
    	
hadarl@brainsway. com
    
	
Principal investigator from   academia
    	
 
    	
Elisha Mozes
    	
 
    	
08-9343139
    	
 
    	
9420866-054
    	
 
    	
9344109-08
    	
 
    	
elisha.moses@weizmann. ac.il
    
	
Joint principal investigator
    (if one)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Research institution’s contact   person with the Office of the Chief Scientist (Not the   investigator)
    	
 
    	
Neta Pesach
    	
 
    	
08-9346050
    	
 
    	
3872598-052
    	
 
    	
9315927-08
    	
 
    	
Neta.pessah@weizman.ac.il
    

 

4.                            R&D budget for the plan (NIS thousands) (up to NIS 3,400,000 for two years)

 

	
 
    	
 
    	
Current year of this
   application
    	
 
    	
Year A (if there was one)
   before this application
    	
 
    	
Year B
   (if planned)
    	
 
    	
Total years
   A+B
    
	
In the company
    	
 
    	
840
    	
 
    	
 
    	
 
    	
600
    	
 
    	
1440
    
	
In the research institute
    	
 
    	
280
    	
 
    	
 
    	
 
    	
200
    	
 
    	
480
    
	
Total for both bodies
    	
 
    	
1120
    	
 
    	
 
    	
 
    	
800
    	
 
    	
11800
    

 

30

 

5.                            For a continuation plan: Use of budget for year A (as a %)

 

	
Estimate of budget use in
   year A
    	
 
    	
Industry:
    	
 
    	
Academia:
    	
 
    	
Total:
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

6.                            Description of the application

 

Notes:

 

·                  A full explanation must be given for each sub-item. The space allotted for each response may be exceeded.

·                  If the subject is not relevant to the application being considered, state explicitly “Not relevant” — do not leave any sub-item unanswered.

·                  Annexes may be attached to the application, but they are not a substitute for completing this section of the application.

 

6.1.                  Managers’ summary in Hebrew (this part should be copied word for word to the expert opinion form and presented to the members of the GTSA committee

 

6.1.1.                           Description of the project (max. 20 lines)

 

Description of the “Magneton” plan — The main idea, the need, and the technology (challenges and technological differences, uniqueness, patents, competition), division of activities between the company and academia, the R&D program and the planned achievements for each year (on filing an application for year A, relate also to the activities of year B. On filing an application for year B, summarize performance against planning and achievements of year A). Description of the expected achievement at the end of the “Magneton”.

 

The brain rests in the hard and protected skull envelope that shields it from external interference and therefore medicine has difficulty performing non-invasive neurological activity. Transcranial Magnetic Stimulation (TMS) is a non-invasive technique that stimulates brain activity with short but powerful magnetic pulses. TMS overcomes the obstacle of the skull by defining a magnetic field outside the head which causes an electrical field in the brain. On the other hand, it is extremely sensitive to precise location on the head and because the electric field induced is created in a specific direction it stimulates only those nerve cells whose axon increases in the direction of the induced field.

 

There are many advantages of external, controlled stimulation, and it has been approved for clinical use. Clinical studies globally are currently examining this approach to a wide variety of brain disorders, including depression and bipolar disorder, schizophrenia, and autism, and implementation in conditions such as migraines or desire to stop smoking is extremely desirable. Therefore, in order to overcome the directionality limit of TMS and improve the effectiveness of brain stimulation a new type of coil has been developed in the Weizmann Institute with a cloverleaf configuration that overcomes the problem of directionality. The coil is adapted to the existing TMS system and more effectively activates the region to which it is directed, and this overcomes the problem of angular sensitivity of TMS. This improvement was made by rotating the magnetic field, an effect achieved by superposition of the fields of two coils in the common figure-of-eight configuration, located perpendicular to each other and operated with a phase time difference of 90 degrees. Rotating field TMS can be used at present to treat and to obtain the optimal placement in regions of the brain in which there is no preferred direction for the nerve cells, but their axons are spread out and distributed in all directions.

 

Brainsway has a special TMS coil that allows access to especially deep brain layers (deep TMS) and considerable experience in operating the coil in a fitted helmet with cooling for a large variety of brain and mental disorders. The purpose of this Magneton application is to produce a device that has all the advantages of Brainsway’s deep access and the Weizmann Institutes rotating field coil. To do this, special helmets will be built to contain double the coils and which will be operated by two separate power units with appropriate timing to move the phase though ninety degrees. The project includes building the helmet and the appropriate coils and characterizing the rotating field produced. This will be followed by a test of the effect of the field and the level of its effectiveness in reaching and

 

31

 

activating various regions in the brain. At an advanced stage, the efficacy of the treatment in a variety of disorders for which the efficacy of the Brainsway device (non-rotating) has already been proved.

 

6.1.2.                           The market, the commercial opportunity (max. 15 lines)

General description, size and rate of growth of the global market, competitive products, the business model, sales forecasts.

 

The global market for treatments of the central nervous system is estimated at 3 trillion dollars a year. Of this, the segment treating depression is approximately 150 million dollars a year. Approximately 240 million people in the world suffer from depression and another approximately 20% are at risk of developing severe depression during their lifetime. The depression segment is the main target market in the first stage in which the system can capture approximately 5% of the depression market, mainly due the limitations of existing medications (30% of patients are resistant to treatment using pharmaceuticals) and it is characterized by efficacy and speed of response to treatment, a low risk level, and fewer side effects.

 

Market size potential — There are estimated to be approximately 10 thousand mental health institutes in the target markets (United States, Europe and Japan) and another 100 thousand registered psychiatrists.

 

The market share / sales target for 2023 (million dollars): 2023 — 14, 2024 — 32, 2025 — 76

 

Competing products — the current edition of the rTMS system has limited ability to penetrate the magnetic field (up to 1-2 cm into the brain cortex) and the field induced has limited directionality and so mainly neurological structures with directionality parallel to the induced electrical field can be stimulated. This is in contrast with the innovative rfTMS technology which creates a rotating field so that neurological structures with different orientation will be stimulated. The rTMS systems cost 100 thousand dollars and a payment of 100-150 dollars for every treatment with the system.  Business model — Research, development and technological innovation. Deep understanding of the neurological and psychological processes arising from irregular brain activities. The product will be produced and integrated by subcontractors. The product will be marketed in strategic cooperation with distribution and medical instrumentation manufacturing companies, and will focus on system sales, setting up treatment centers and sale of franchises.

 

The company obtained FDA approval in January 2013 to market the company’s product for depression in the United States. The company has also obtained Health Canada approval to market in Canada.

 

The company is marketing its products in the United States by itself and is in advanced negotiations with a number of bodies to market the product in other countries worldwide.

 

An exclusivity contract has been signed for a geographical region for a period of 10 years, subject to a minimum number of treatments, the device has been installed in treatment sites and payment during the initial period is based on a fixed monthly payment and thereafter a payment for the number of treatments conducted with the device or the fixed price whichever is higher. A remote monitoring system meters the treatments and the system makes variable charges for different applications. The company also allows a purchase model in certain circumstances.

 

The company has signed a contract with a high-tech company in Italy and Neuromagnetics in Chile as well as Brainsway Scandinavia AB in the Scandinavian countries and with CMI in Japan and Moksha8 in Mexico and Brazil. The company has received ANVISA approval to market in Brazil.

 

32

 

6.2.                  Abstract of a summarizing technical report (one page at most)

 

If the proposed plan is a continuation plan, give details of the development plan and the R&D period that has passed (abstract of a technical report), including:

 

*            Achievements in the areas of development and marketing in the previous stages, including performance compared with planning

*            Anomalies in performance in comparison with planning in R&D and marketing

*            Changes in the development plan compared with the original plan [and] technological developments in the development plan

*            Economic/marketing aspects that were clarified during the report period.

 

	
Hebrew
    	
English
    

 

6.3.                  The product and the technology

 

6.3.1.                  The need and the product

 

*            The need that the product fulfills and compatibility of the subject with the corporation’s operations.

*            Describe the product from a functional aspect with reference to its performance, mode of use, and how the product integrates with other products (if required).

 

	
Hebrew
    	
English
    

 

Most of the effort towards innovation in the operation of TMS focuses on achieving greater depth of penetration and a higher rate of operation, with the aim of more effectively activating deeper areas of the brain. This process is powered mainly by a hope of replacing the more invasive electroconvulsive method ECT but is a last resort in cases of depression that is unresponsive to medications. However, the strong directionality of the induced field has continued to be the main limitation of TMS at this stage.

 

The sensitivity to direction is the result of neurons in the target region in the brain only being activated if the induced electrical field is precisely aligned with their axons. Both the location and the direction of the stimulating magnetic coil must be adjusted with high resolution in order to activate the brain in the optimal location, and the magnet must be kept in position during the entire treatment. A stable and fixed location can be found using MRI in combination with a stereotactic device. However, it is completely impossible to determine the optimal orientation of the coil if stimulation of the focused brain region does not include axons lined up together in one bundle or if contrary to activating a muscle, there is no measurable response to activating the brain.

 

This is especially true of the prefrontal dorsolateral regions which are the main target in the treatment of depression. Moreover, in these regions of the brain there is no single unique direction that includes sufficient neurons, and so the ability of TMS to stimulate is limited. The entire region may also be less sensitive to stimulation using a directional coil. The ability of the rotating field to improve the directional sensitivity and to allow more effective TMS stimulation is therefore an important objective defined for the development of future magnets. The object of this Magneton application is to develop such a technology in conjunction with a Brainsway H-coil which has the ability deep to penetrate effectively into regions deep in the brain. The combined product will be able to rotate the magnetic field and apply stimulation to chains of neuron at a depth in the brain where the axons are oriented in a greater variety of different directions.

 

The final product is a system of a type routinely manufactured by Brainsway but with a helmet that includes a deep TMS type double coil with sufficient cooling for both coils so as to allow operation over a long period, and with two Magstim power supplies operated by moving a phase through 90 degrees relative to each other or 60 micro-seconds for a typical magnetic pulse.

 

6.3.2.                  Comparison with the current situation — in industry and academia (in Israel and worldwide), with the emphasis on state of the art.

 

	
Hebrew
    	
English
    

 

This Magneton application provides a solution to a defined lack in the market in which there are currently no solutions to improve the effectiveness of TMS stimulation in regions of the brain that are important for therapy but do not have defined axon

 

33

 

directionality. The competition in the field comes mainly from companies employing different protocols with a standard device, for the most part a coil in a figure-of-eight configuration, which allows location of the activation in regions of the brain close to the skull, and which is effective for nerve cells with axons bundled together with defined directionality.

 

Another competitive field is of electric stimulation of the brain using electrodes implanted in it (DBS) or placed on the scalp (tDCS). The former has important clinical effects that have not yet been fully explained and mainly requires more invasive surgical intervention. The latter is problematic in that the physics of the transfer of currents and the results of the transfer are in dispute.

 

6.3.3.                  Detailed description of the R&D program

 

*            The study plan and the division between participants (with the emphasis on the technology being transferred from academia to industry)

*            A detailed explanation of the technological challenges and knowledge gaps

*            The study group’s achievements in technological development up until the start of the project

*            Adoption of the technology in an industrial corporation

*            Continued development after the end of the “Magneton”

 

	
Hebrew
    	
English
    

 

The R&D program is aimed at the development of rfTMS technology, to investigate the clinical repercussion of the innovative technology and to develop it for the product.

 

The study team in the Weizmann Institute under Prof. Elisha Moses has developed the technology from an initial concept to feasibility testing, has conducted simulations, built a laboratory model, and performed tests to prove feasibility on nerve cell cultures, in animals and in preliminary trials in humans.

 

Objectives of the current plan:

 

a. Development of an advanced rfTMS system, including a dual-channel coil arrangement connected to a dual-channel stimulator with the possibility of precise timing.

b. Conduct of a clinical trial in depressive patients. The trial will include a number of components that will examine the capabilities of the new technology in comparison with existing rTMS technology. These components include:

 

1. Test of the efficacy of the treatment of depression

2. The effectiveness of motor stimulation of the arm and the leg

3. The effectiveness of inducing inhibition in the motor cortex using the LICI protocol

4. The effectiveness of creating neuroplastic changes in the motor cortex following high and low frequency treatment.

 

In Sections 2-4, measurements will be taken using an EMG system.

 

The technological challenges and the knowledge gaps: Planning, development and building the system, while treating with interaction between the coils in which a current is passed in different directions at the same time, collection of the neurophysiological indexes, identification of the indexes in which the innovative technology has a significant advantage.

 

At the end of the current program, the object will be to incorporate rfTMS technology in Brainsway’s products. The company is developing a deep TMS system, including a dual-channel stimulator. As part of this development, coil systems will be integrated to enable rfTMS in various regions of the brain.

 

After the end of the Magneton, wide scale clinical studies will be conducted to examine the safety and efficacy of a multi-channel system, including rfTMS, in their effect on various brain disorders.

 

6.3.4.                  The uniqueness and innovation of the product that will be developed (after the Magneton), including reference to the technological entry barriers to competitors who might seek to develop a competing product.

 

	
Hebrew
    	
English
    

 

34

 

Brainsway is currently the world leader in the field of improved coils. The addition of the ability to rotate the coil, with the resultant increased stimulation will be a product that has no equal in the market.

 

It can be supposed that following the success that Brainsway has demonstrated in the use of the rfTMS rotating field, competitors will have a great interest in developing a similar product. The first obstacle will be legal, based on a patent that protects the use of the rfTMS rotating field in any configuration.

 

The second barrier is technological and is supported by the knowledge accumulated by the Weizmann Institute, for example with regard to the creation of a correlation between the coils and the prevention of mutual inductions that might cause the coils to collapse. Brainsway’s know-how in building a suitable helmet that will include two coils and will enable cooling and effective operation are also a technological barrier. It should be noted that these technological barriers can be overcome given enough time and with considerable engineering capability. There is therefore an advantage to first and early entry into the market, and to protecting the patents granted to the Weizmann Institute.

 

6.3.5.                    The characteristics of the product — a description of the product that will later be developed (after the “Magneton” and its characteristics and its incorporation in the target product in the company.

 

*            Does the process / product come under any regulations with regard to environmental protection either in Israel or in the countries for which the product in development is intended. (Give details of regulations). If the question is not relevant to the product / the process being developed, it must be marked: Not relevant.

*            What steps are being taken to ensure that the product / process will meet all the environmental protection standards? If the question is not relevant to the product / process being developed, it must be marked: Not relevant.

 

	
Hebrew
    	
English
    

 

The system is intended for the treatment of patients with various brain disorders, such as depression, stroke, Parkinson’s, Alzheimer’s, etc.

 

The rfTMs system will be integrated into a Brainsway multi-channel deep TMS system. The system will include coil systems intended to affect various regions of the brain. The system will combine the advantages of Brainsway deep TMs that enables timing of an effect on various regions of the brain and of rfTMS technology that enables the effect in defined regions of the brain to be dramatically increased by stimulation in multiple directions in the same region, with other areas being less affected, by limiting the stimulation there to a single direction. We expect that the aforementioned technological combination will provide enormous advantages from the aspect of the flexibility and efficacy of rTMS in their combined effect on various regions of the brain.

 

Aspect of environmental protection  — not relevant.

 

6.3.6.                  Patents and intellectual property

 

*            Is the technology being used protected by patents and/or other intellectual property rights? If so, give details.

*            Give details of the distribution of the ownership of intellectual property rights between academia and industry.

*            Has a patent review been conducted? Have the partners verified that the development does not infringe the intellectual property of others? How?

 

	
Hebrew
    	
English
    

 

The Rotational Field TMS technology on which this project is based is protected by a family of patents discovered by the principal investigator, Elisha Moses, and the rights to them belong to Yeda, the Weizmann Institute’s trading company.

 

Brainsway and Yeda have reached agreements that will soon be anchored in a signed agreement to grant an exclusive license for the use of the IP in question.

 

35

 

The status of the family of patents is described below:

 

Title: Magnetic Configuration and Timing Scheme for Transcranial Magnetic Stimulation

 

Inventors: MOSES Elisha, ROTEM Assaf

 

	
Country
    	
 
    	
Application
    	
 
    	
Publication
    	
 
    	
Grant
    	
 
    	
Status
    
	
U.S.A
    	
 
    	
02/03/2009 - 61/156.835
    	
 
    	
—
    	
 
    	
—
    	
 
    	
Expired
    
	
PCT
    	
 
    	
02/03/2010 - PCT/IL2010/000171
    	
 
    	
10/09/2010 - WO 2010/100643
    	
 
    	
—
    	
 
    	
Expired
    
	
European Patent Office
    	
 
    	
—
    	
 
    	
—
    	
 
    	
—
    	
 
    	
Pre-filing
    
	
European Patent Office
    	
 
    	
02/03/2010 - 10710911,8
    	
 
    	
18/01/2012 - 2 405 970
    	
 
    	
—
    	
 
    	
Allowed
    
	
France
    	
 
    	
02/03/2010 - 10710911,8
    	
 
    	
18/01/2012 - 2 405 970
    	
 
    	
—
    	
 
    	
Pre-filing
    
	
Germany
    	
 
    	
02/03/2010 - 10710911,8
    	
 
    	
18/01/2012 - 2 405 970
    	
 
    	
—
    	
 
    	
Pre-filing
    
	
Italy
    	
 
    	
02/03/2010 - 10710911,8
    	
 
    	
18/01/2012 - 2 405 970
    	
 
    	
—
    	
 
    	
Pre-filing
    
	
Spain
    	
 
    	
02/03/2010 - 10710911,8
    	
 
    	
18/01/2012 - 2 405 970
    	
 
    	
—
    	
 
    	
Pre-filing
    
	
United Kingdom
    	
 
    	
02/03/2010 - 10710911,8
    	
 
    	
18/01/2012 - 2 405 970
    	
 
    	
—
    	
 
    	
Pre-filing
    
	
Israel
    	
 
    	
02/03/2010 - 214905
    	
 
    	
—
    	
 
    	
214905 - 30/03/2017
    	
 
    	
Granted
    
	
Israel
    	
 
    	
02/03/2010 - 230414
    	
 
    	
—
    	
 
    	
230414 - 30/03/2017
    	
 
    	
Granted
    
	
Japan
    	
 
    	
02/03/2010 - 2011-552573
    	
 
    	
23/08/2012 - 2012-519050
    	
 
    	
5688380 - 30/01/2015
    	
 
    	
Granted
    
	
U.S.A
    	
 
    	
02/03/2010 - 13/254.361
    	
 
    	
01/03/2012 - 2012-0053449
    	
 
    	
9.067.052 - 30/06/2015
    	
 
    	
Granted
    
	
U.S.A
    	
 
    	
02/03/2010 - 14/714.368
    	
 
    	
03/09/2015 - US-2015-0246238-A1
    	
 
    	
—
    	
 
    	
Allowed
    

 

6.3.7.                  Describe the points of technological uncertainty that are preventing the company from making a decision to enter immediately into a product development process.

 

	
#
    	
 
    	
Technological uncertainty
    	
 
    	
Actions to remove/reduce uncertainty
    
	
1
    	
 
    	
Quantification of the ability of rfTMS to stimulate   significantly more neurological structures in comparison with current rMTS   with defined directionality and to create more effective motor stimulation
    	
 
    	
A comparative study of the threshold of motor   stimulation of the leg using rfTMS compared with the threshold with a single   coil in a posterior-anterior direction and in a right-left direction
    
	
2
    	
 
    	
Quantification of the ability of rfTMS to create   significantly greater inhibition in comparison with current rMTS with defined   directionality
    	
 
    	
A comparative study of the effects on the motor   cortex of the LICI protocol using rfTMS compared with a single coil
    
	
3
    	
 
    	
Quantification of the ability of rfTMS to create   significant neurological effects in comparison with current rMTS with defined   directionality
    	
 
    	
A comparative study of the effects on the motor   cortex of 20-minute treatments at low frequency (that creates inhibition) and   at high frequency (that creates facilitation) using rfTMS compared with a   single coil
    
	
4
    	
 
    	
Quantification of the effectiveness of rfTMS in a   clinical improvement in patients with depression
    	
 
    	
A comparative study of treatment of depressive   patients for 4 weeks using rfTMS compared with a single coil
    

 

36

 

6.4.                            The R&D program

 

6.4.1.                  Describe the abilities of the academic group, the capabilities of the company and of the development team relevant to this program — including previous R&D between the bodies, previous experience of academia-industry cooperation, the conduct of similar projects, the relevant personnel in the company for introducing the technology

 

	
Hebrew
    	
English
    

 

The company’s direct workers include inventors of deep TMS technology who registered the patent while they were working in the American National Institute of Health (NIH), Prof. Abraham Zengen, the company’s neurobiology consultant, and Dr. Yiftach Roth, the Chief Scientist. Our company has been granted exclusive use of said patent by the American National Institute of Health.

 

The leading team also includes the medical director, Dr. Aron Tendler, and Ahava Stein, Regulatory Affairs Consultant.

 

Brainsway has considerable experience in the development of TMS products. The company’s R&D department includes physicists, electronic engineers, mechanical engineers, software engineers, and biomedical engineers with vast experience in the development of such products. rfTMS technology intersects with the company’s developments and is at the core of its sector of operations.

 

The company has considerable experience of cooperation with academia, including partnership in a Magnet BSMT consortium and in international cooperation projects.

 

The laboratory in the Weizmann Institute has been engaged for 15 years in the study of the effect of electrical and magnetic fields on the activities of the nerve centers in various contexts, from cultures and neural networks growing in a test tube, by way of responses to stimulation in laboratory animals, to a study of stimulation in healthy and unhealthy humans. The laboratory is well equipped and experienced in the technological aspects of development and testing instrumentation and in trials of biological samples from humans through animals to tissue cultures. The combination of high-level experimental physics and innovative neurobiology characteristics of the laboratory is indeed unique. The laboratory is equipped to deal with tissues and care for animals, as well as for the development of new power supplies, optical microscopy techniques, and coil design.

 

6.4.2.                  Are there any differences in the aforesaid ability compared with the ability needed to develop the plan?

 

	
No
    	
No
    	
 
    	
If yes, what are they and how does the company   intend to eliminate these differences (such as subcontractors, acquisition of   know-how), give details.
    

 

	
Hebrew
    	
English
    

 

37

 

6.4.3.                  Give details of the specific tasks that make up the work plan for the entire Magneton period and the resources required to carry them out (the tasks should be activities that end with deliverables. Avoid general descriptions such as: planning, execution, etc.). Give details of the activities (recommended up to 10 activities) for each year of R&D activities.

 

Gantt chart: Prepare a detailed Gantt Chart for each “Magneton” period and submit it to the professional examiner during the working meeting on the plan.

 

	
#
    	
 
    	
Activity/Task
    	
 
    	
Responsible
   for
   execution
    	
 
    	
Task
   Duration
   in months
    	
 
    	
End date
    	
 
    	
Human
   years *
    	
 
    	
Total cost
   (NIS
   Thousands) *
    	
 
    
	
Year A
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
1.
    	
 
    	
Development of a dual-channel coil arrangement for   rfTMS in the motor cortex and in the prefrontal cortex
    	
 
    	
Brainsway
    	
 
    	
8
    	
 
    	
May 15, 2018
    	
 
    	
0,85
    	
 
    	
680
    	
 
    
	
2.
    	
 
    	
Development of a synchronization system between two   stimulators and adjustment between two coils for rfTMS study purposes
    	
 
    	
Weizmann Institute
    	
 
    	
8
    	
 
    	
May 15, 2018
    	
 
    	
 
    	
 
    	
120
    	
 
    
	
3.
    	
 
    	
Completion of preparations and beginning of a   clinical study of rfTMS in depressive patients
    	
 
    	
Weizmann Institute and Brainsway
    	
 
    	
8
    	
 
    	
May 15, 2018
    	
 
    	
0,15
    	
 
    	
140
    	
 
    
	
4.
    	
 
    	
Clinical study of rfTMS in depressive patients
    	
 
    	
Weizmann Institute and Brainsway
    	
 
    	
4
    	
 
    	
October 15, 2018
    	
 
    	
0,1
    	
 
    	
180
    	
 
    
	
5.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Year B
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
1.
    	
 
    	
Conduct and completion of clinical study of rfTMS in   depressive patients
    	
 
    	
Weizmann Institute and Brainsway
    	
 
    	
12
    	
 
    	
October 15, 2019
    	
 
    	
 
    	
 
    	
800
    	
 
    
	
2.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
3.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
4.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
5.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

6.4.4.                  For each of the tasks in the above list describe the activities required to achieve them at a level of detail that will allow a professional examiner to judge the reasonableness of the amount of resources required: human years and overall cost of a task. Give details of all elements of the activities in the company and in academia.

 

	
Year A
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
1.
    	
 
    	
The task includes planning the system, mechanical   planning, thermal planning, constructing a prototype, integration, testing   and validation, regulation and standardization, running-in and   implementation. The required objective is to build a dual-channel coil setup   to operate rfTMS protocols. The main challenges: 1. The current pulses in   both coils overlap at some time during the pulse. The current in one pulse   creates forces on the other coil and so meticulous mechanical planning is   required to ensure the strength necessary to carry out the protocols.   Extensive operating tests are also required to ensure that the mechanical   strength meets the requirements. 2. Current in one coil induces a current in   the other coil. This will need to be taken into consideration when planning   the coils. We will measure the current in various states and at various   strengths and also take motor threshold measurements, and we will make   adjustments so that the effect will be the required effect for each protocol.   3. Cooling The coils will be positioned one above the other. Both coils,   including the lower one, must be kept at a normal temperature while the   protocol is being conducted. To this end we will need detailed thermal   planning, planning and constructing of the casings and the airflow directions   so as to ensure efficient cooling, and thorough thermic testing while   operating the various protocols. 4. Harnessing: The coil setup will need to   be applied to the prefrontal cortex for the treatment of depression. It will   also need to be applied to the leg motor cortex and to the arm motor cortex   to [measure] the neurophysiological indexes aimed at examining the   technological advantages.
   It is reasonable to suppose that a number of prototypes will need to be built   and tested until a device that answers all the requirements is achieved.
    
	
2.
    	
 
    	
Planning the system, planning hardware, organizing   software, mechanical planning, software writing, 
    
														

 

38

 

	
 
    	
 
    	
building a prototype, integration, testing,   validation, regulation and standardization, running in an implementation.   This task is being performed by the Weizmann Institute.
    
	
3.
    	
 
    	
The task includes regulatory activities,   installation, preliminary training, training treatment providers, recruiting   patients, monitoring and technical support. Helsinki Committee approval will   need to be obtained, there will need to be involvement in writing the   protocol, the system will need to be installed at the site, and the site   operators will need to be trained. This task is being undertaken jointly by Brainsway   and the Weizmann Institute.
    
	
4.
    	
 
    	
The task includes recruiting patients, conducting   the trial, monitoring, technical support and advising the trial, while   ensuring that the procedures are being followed as required. This task is   being undertaken jointly by Brainsway and the Weizmann Institute.
    
	
5.
    	
 
    	
 
    
	
Year B
    
	
1.
    	
 
    	
Recruiting patients, monitoring, regulatory   activities, technical support, analyzing the results
    
	
2.
    	
 
    	
 
    
	
3.
    	
 
    	
 
    
	
4.
    	
 
    	
 
    
	
5.
    	
 
    	
 
    
	
 
    	
 
    	
End of the period of the R&D plan (in   “Magneton”)
    

 

6.4.5.                  Give details of measurable milestones for the entire plan (such as: outcomes, interim products, or clear engineering achievements). Include at least two milestones in each year of operations.

 

	
#
    	
 
    	
Activities/Milestones
    	
 
    	
End date
    	
 
    	
Description of the achievement at the milestone
    
	
Year A
    	
 
    	
 
    	
 
    	
 
    
	
1.
    	
 
    	
Completing the rfTMS system, including the array of   coils and the dual-channel system
    	
 
    	
May 15, 2018
    	
 
    	
Completing the system that will allow rfTMS to be   created in the motor cortex and the prefrontal cortex
    
	
2.
    	
 
    	
Beginning of the rfTMS study in depressive patients
    	
 
    	
May 15, 2018
    	
 
    	
Start of a clinical study of rfTMS technology
    
	
3.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Year B
    	
 
    	
 
    	
 
    	
 
    
	
4.
    	
 
    	
Completion of the rfTMS study in depressive patients
    	
 
    	
October 15, 2019
    	
 
    	
End of the clinical study
    
	
5.
    	
 
    	
Analysis of the study results
    	
 
    	
October 15, 2019
    	
 
    	
An analysis of the results and quantification of the   technological advantages compared with existing technology
    
	
6.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

39

 

6.5.                            The market

 

6.5.1.                  Define the target market for the future product in Israel and abroad, the existing market segments (customers with similar characteristics), the market distribution on a geographical basis, and the market dynamics.

 

	
Hebrew
    	
English
    

 

Large market potential in the target markets (United States, Europe and Japan) estimated at 10 thousand mental health institutions and another 100 thousand registered psychiatrists. 240 million people out of the entire world population suffer from depression and 20% are at risk of developing severe depression at some stage in their lives. The depressive segment is the largest of all CNS sufferers and that is the main target market in the first stage of launching the project, although the device’s ability to stimulate deep regions of the brain opens an extremely large variety of additional applications.

 

Various addictions, including drugs, smoking, alcohol — more than 48 million Americans suffer from various addictions. The annual cost of treatment is estimated at 360 billion dollars.

 

Obesity — 80 million Americans suffer from obesity. The annual cost of treatment is estimated at 220 billion dollars.

 

Autism — More than a million Americans suffer from autism. The annual cost of treatment is estimated at 100 billion dollars.

 

Alzheimer’s and MCI more than 17 million Americans suffer from Alzheimer’s or MCI. The annual cost of treatment is estimated at 180 billion dollars.

 

PTSD — More than five million Americans suffer from PTSD. The annual cost of treatment is estimated at 10 billion dollars.

 

OCD — The fourth most common mental illness. One in every 50 adults in the United States suffers from OCD. The market in the treatment of OCD was estimated at 700 million dollars in 2010.

 

ADHD — 3% to 5% of children worldwide suffer from the syndrome. The market in treatments of ADHD is estimated at 3.85 billion dollars.

 

As previously stated, the product we are developing is an effective solution that is currently unavailable for the treatment of brain disorders and especially the problem of depression. The total world market is ready to adopt this innovative product with the main customers being: medical institutions and hospitals also treating brain disorders, neurology clinics, psychiatric centers, independent psychiatrists (private clinics), etc.

 

6.5.2.                  What is the current annual size of the market for the product in Israel and worldwide in units and dollars? What is potential global annual size for the future product? (State the source of the data). What is the growth potential for the entire market and for the product under developed? (State the source of the data).

 

	
Hebrew
    	
English
    

 

The global market for Central Nervous System (CNS) treatments is estimated at 3 trillion dollars a year. Of this the depression treatment segment in 150 billion dollars a year. There is currently no identical product on the market.

 

Our business plan indicates rentals and sales of the systems for the following sums (million dollars)

From 2023: 2023 — 14, 2024 — 32, 2025 — 76

 

Data on that subject is published in various professional journals and the sources on which they rely are:

Espicom Business Intelligence

US National Mental Information Center, European Board of Psychiatry

 

40

 

6.5.3.                  Competition — describe the competing products and competing companies. Include the website addresses of those companies, if known. Give details of the relative advantages of the company compared with the competitors and its basis. 

 

	
Hebrew
    	
English
    

 

	
Manufacturer’s
   name and a link to
   the website
    	
 
    	
Name of the
   competing
   product
    	
 
    	
Price in $
    	
 
    	
Market
   share %
    	
 
    	
Capabilities, performance, advantages and
   disadvantages in comparison with the plan
   products
    
	
Magstim
   (www.magstim.com)
    	
 
    	
Rapid2
    	
 
    	
 
    	
 
    	
 
    	
 
    	
The main products are stimulators, as well as   standard coils, and the system is inferior in comparison to ours. They   received FDA approval for depression in 2015.
    
	
Neuronetics
   (www.neuronetics.com)
    	
 
    	
Neurostar
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Self-production of stimulators and standard coil,   including ferromagnetic core. They received FDA approval for depression in   2018. They market in the USA.
    
	
MagVenture
   (www.magventure.com)
    	
 
    	
MagPro
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Manufactures stimulators and standard TMS coils, as   well as production of stimulators and coils for magnetic seizure therapy   (MST). They received FDA approval for depression in 2015.
    
	
Neurosoft
   (https://www.neurosoft.com)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Manufactures stimulators and standard TMS coils.   They received FDA approval for depression in 2016
    
	
Nexstim
   (www.nexstim.com)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Manufactures stimulators and standard TMS coils, as   well as systems for neuronavigation of the head.
    
	
Cyberonics
   (https://www.livanova.cyberonics.com)/
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Manufacture of vagus nerve (VNS) stimulation for the   treatment of epilepsy and depression. The treatment is invasive and involves   surgery under general anesthetic.
    
	
Medtronic
   (www.medtronic.com)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Manufacture of deep brain stimulation (DBS) systems   for the treatment of Parkinson’s, depression and OCD. The treatment is   invasive and involves brain surgery, implantation of electrodes deep in the   brain, and anesthesia).
    
	
St. Jude
   (www.sjm.com)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Manufacture of deep brain stimulation (DBS) systems   for the treatment of Parkinson’s and depression. The treatment is invasive   and involves brain surgery, implantation of electrodes deep in the brain, and   anesthesia).
    

 

6.5.4.                  Who are the potential customers for the product(s) at the subject of the plan (if there are any, state who they are)? Are these new or existing customers?

 

	
Hebrew
    	
English
    

 

The main potential customers worldwide are:

 

a.                  Hospitals with departments treating brain problems, particularly in the area of depression

b.                  Psychiatric centers

c.                   Independent psychiatrists (private clinics)

d.                  Other medical institutions treating various kinds of brain problems, such as severe cigarette and drug addiction

Schizophrenia, Alzheimer’s, CVA, autism, PTSD, stroke, and Parkinson’s

e.                   Universities and research institutes

f.                    Research laboratories

g.                   Local, regional and global distributors of medical devices

 

The products that are the subject of the plan will be marketed to both existing and new customers.

 

41

 

6.5.5.                  Marketing obstacles (such as: licensing, standards etc.) and how the company intends to deal with them.

 

	
Hebrew
    	
English
    

 

We are aware of possible obstacles that may arise in the medical systems market, the main ones being:

 

a. Delay in obtaining regulatory approvals that may delay the development process

b. Changes in regulation, in permits, and in international standardization

c. Breach of rights to registered payments requiring legal action or market waiver

d. Delays in completing the clinical trials necessary for the receipt of regulatory approvals

e. Uncertainty of developing additional applications

f. Unexpected competition from other technologies

 

We have been careful in our business plan to build in a reasonable reserve both in terms of timetables and performance of the necessary tasks, and unexpected costs resulting from these obstacles or others.

 

6.6.                  Summary: Risks and opportunities

 

Analyze the risks and opportunities facing the future product from both the technological and marketing aspects.

 

	
Hebrew
    	
English
    

 

	
The risk
    	
 
    	
The risk management
    
	
In the area of technology — a risk of competition   from similar products worldwide
    	
 
    	
Low risks since the technology we have is protected   by a patent registered by the Weizmann Institute. The incorporated products   will also be protected by the Brainsway deep TMS patents. The company is the   only one in the world developing, manufacturing and marketing deep TMS   products.
    
	
In the area of regulation — the company estimates   that there are risks in this area and most of them will lead to delays in the   timetables
    	
 
    	
It does not appear that there will be any risks of   demands that the company will not be able to meet at this time. The company   is operating according to all the standards and ensures that all the   processes meet the regulatory demands.
    
	
In the area of marketing
    	
 
    	
The area of professional medicine dealing with brain   disorders needs the product we are developing. As we have previously   demonstrated, the existing alternatives are far from the efficacy and   effectiveness that our product will provide.
   On the assumption that the required funds will be made available to us and we   keep to the planned timetable, we are convinced that the business plan and   its cost and sales components will indeed be achieved as planned.
    

 

We estimate that Brainsway’s integrated product including the rfTMS technology will open new horizons in the area of brain stimulations and the treatment of brain disorders. Brainsway will become a main world player in the area of a medical device for the treatment of brain disorders and depression in the first stage and later of various psychiatric and neurological disorders. The product that is the subject of the plan will become a main tool in the treatment of various brain disorders and in brain research.

 

42

 

6.7.                  Concomitant activities:

 

	
6.1                    Has the project   been previously submitted for support of any kind from the Office of the   Chief Scientist?
    	
No
    
	
6.2                    Is the project   part of another, funded project
    	
No
    
	
6.3                    Is the prior   academic research being funded by the company
    	
No
    
	
6.4                    Is the prior   academic research being funded by any other government source
    	
Yes
    
	
If so, give details:  Kamin
    	
 
    

 

7.                            Declaration for industry

 

I hereby declare that the information in this application, apart from academia’s information, is to the best of our knowledge the correct, most up-to-date and complete information the company has and known to me personally and that I must notify the Office of the Chief Scientist of any new information the company may subsequently have and known to me personally and which could affect the product being developed from any aspect whatsoever.

 

8.                            Declaration for academia

 

	
Date
    	
 
    	
Signatory’s
   position
    	
 
    	
Signatory’s
   name
    	
 
    	
I.D. No.
    	
 
    	
Signature and
   stamp
    
	
October 16, 2017
    	
 
    	
Company CEO / Vice CEO
    	
 
    	
Yaacov Michlin
    	
 
    	
014404677
    	
 
    	
 
    
	
October 16, 2017
    	
 
    	
One of the plan’s leaders in the company
    	
 
    	
Yiftach Roth
    	
 
    	
024698631
    	
 
    	
 
    

 

I hereby declare that the information in this application relating to the activities of academia is to the best of my knowledge the correct, most up-to-date and complete information the implementation company has and known to me personally and that I must notify the Office of the Chief Scientist of any new information the research institute may subsequently have and known to me personally and which could affect the product being developed from any aspect whatsoever.

 

	
Date
    	
 
    	
Signatory’s
   position
    	
 
    	
Signatory’s
   name
    	
 
    	
I.D. No.
    	
 
    	
Signature and
   stamp
    
	
October 16, 2017
    	
 
    	
CEO of the implementation company (obligatory)
    	
 
    	
Gil Granot-Meir
    	
 
    	
012263893
    	
 
    	
[signature]
    
	
October 16, 2017
    	
 
    	
The principal investigator (obligatory)
    	
 
    	
Elisha Moses
    	
 
    	
079790812
    	
 
    	
[signature]
    

 

43

 

Annex D: rfTMS Development Program (including Milestones)

 

Development program for rotational field TMS (rfTMS)

 

	
Milestone
    	
 
    	
Details
    	
 
    	
Completion by
    
	
Integrate rfTMS in a Multi-channel TMS system for   clinical research
    	
 
    	
Development of Multi-channel TMS system of up to 5   channels including rfTMS for clinical trial.
    	
 
    	
Dec 2019
    
	
Safety and feasibility clinical trial in humans
    	
 
    	
Perform a clinical trial using multi-channel TMS   system including rfTMS. The study will test safety of operation with   parameters defined based on previous stages.
    	
 
    	
Mar 2021
    
	
Advanced safety and efficacy clinical trial in   humans
    	
 
    	
Advanced clinical trial using multi-channel TMS   system including rfTMS. The study will test safety and efficacy of improving   features of neural effects in various measures.
    	
 
    	
Oct 2022
    
	
First Commercial Sale of an rfTMS Product
    	
 
    	
—
    	
 
    	
Apr 2023
    

 

44EX-10.1

 Exhibit 10.1 

Targa Resources Partners LP 

and 
 Targa Resources
Partners Finance Corporation 
 $750,000,000 6.500% Senior Notes Due 2027 

$750,000,000 6.875% Senior Notes Due 2029 

PURCHASE AGREEMENT 

January 10, 2019 
 MERRILL
LYNCH, PIERCE, FENNER & SMITH 

                          
 INCORPORATED 
 As representative of the 

several Initial Purchasers listed 
 in Schedule 1A and Schedule 1B
hereto 
 One Bryant Park 
 New York, New York 10036 

Ladies and Gentlemen: 
 Targa Resources Partners
LP, a limited partnership organized under the laws of Delaware (the “Partnership”), along with Targa Resources Partners Finance Corporation, a Delaware corporation (“Finance Co” and, together with the Partnership,
the “Issuers”), hereby confirm their agreement with (i) the several Initial Purchasers listed in Schedule 1A hereto (the “2027 Initial Purchasers”) and (ii) the several Initial Purchasers listed in
Schedule 1B hereto (the “2029 Initial Purchasers” and, together with the 2027 Initial Purchasers, the “Initial Purchasers”), in each case, for whom Merrill Lynch, Pierce, Fenner & Smith
Incorporated is acting as representative (the “Representative”) as set forth below. 
 Targa Resources GP LLC, a Delaware
limited liability company (the “General Partner”), owns a 2% general partnership interest in the Partnership. The Partnership’s direct or indirect majority-owned subsidiaries are listed in Schedule 2 hereto and are
referred to herein as the “Subsidiaries”; and the Subsidiaries listed in Schedule 3 hereto are referred to herein as the “Non-Guarantor Subsidiaries.” 

Section 1.    The Securities. Subject to the terms and conditions herein contained, the Issuers propose to
issue and sell (i) to the 2027 Initial Purchasers $750,000,000 aggregate principal amount of their 6.500% Senior Notes due 2027 (the “2027 Notes”) and (ii) to the 2029 Initial Purchasers $750,000,000 aggregate principal
amount of their 6.875% Senior Notes due 2029 (the “2029 Notes” and, together with the 2027 Notes, the “Notes”), which, in each case, will be unconditionally guaranteed on a senior basis as to principal, premium, if
any, and interest (the 

 
“Guarantees”) by the Subsidiaries of the Partnership named in Schedule 4 hereto (each individually, a “Guarantor” and collectively, the
“Guarantors” and, together with the entities named in Schedule 5 hereto, the “Material Subsidiaries”). The Guarantors, other than Targa SouthOk NGL Pipeline LLC, an Oklahoma limited liability company
(“SouthOk”), are referred to herein as the “Covered Guarantors,” and the Guarantors, other than the entities named on Schedule 6 hereto, are referred to herein as the
“Non-Excluded Guarantors.” The Notes are to be issued under an indenture (the “Indenture”) to be dated as of January 17, 2019, by and among the Issuers, the Guarantors
and U.S. Bank National Association, as Trustee (the “Trustee”). 
 The Notes will be offered and sold to the Initial
Purchasers without being registered under the Securities Act of 1933, as amended (the “Act”), in reliance on exemptions therefrom. 

In connection with the sale of the Notes, the Issuers have prepared a preliminary offering memorandum dated January 10, 2019 (including
any documents incorporated therein by reference, the “Preliminary Memorandum”) setting forth or including a description of the terms of the Notes, the terms of the offering of the Notes, a description of the Partnership and any
material developments relating to the Partnership after the date of the most recent historical financial statements included therein. As used herein, “Pricing Disclosure Package” shall mean the Preliminary Memorandum, as
supplemented or amended by the written communications listed on Annex A hereto in the most recent form that has been prepared and delivered by the Issuers to the Initial Purchasers in connection with their solicitation of offers to purchase
Notes prior to the time when sales of the Notes were first made (the “Time of Execution”). Promptly after the Time of Execution and in any event no later than the second Business Day following the Time of Execution, the Issuers will
prepare and deliver to each Initial Purchaser a final offering memorandum (including any documents incorporated therein by reference, the “Final Memorandum”), which will consist of the Preliminary Memorandum with such changes
therein as are required to reflect the information contained in the amendments or supplements listed on Annex A hereto. The Issuers hereby confirm that each of the Issuers has authorized the use of the Pricing Disclosure Package, the Final
Memorandum and the Recorded Road Show (defined below) in connection with the offer and sale of the Notes by the Initial Purchasers. 
 All
references in this Agreement to financial statements and schedules and other information which are “contained,” “included” or “stated” in the Offering Memorandum (as defined below) (or other references of like import)
shall be deemed to mean and include all such financial statements and schedules and other information which are incorporated by reference in the Offering Memorandum; and all references in this Agreement to amendments or supplements to the Offering
Memorandum shall be deemed to mean and include the filing of any document under the Securities Exchange Act of 1934 (the “Exchange Act”) which is incorporated by reference in the Offering Memorandum. 

The Initial Purchasers and their direct and indirect transferees of each of the 2027 Notes and the 2029 Notes will be entitled to the benefits
of a Registration Rights Agreement (the “Registration Rights Agreements”), pursuant to which the Issuers and the Guarantors will agree, among other things, to file a registration statement (the “Registration
Statements”) with the Securities and Exchange Commission (the “Commission”) registering the 2027 Notes or the 2029 Notes, as applicable, or the Exchange Notes (as defined in the Registration Rights

  
 2 

 
Agreements) under the Act, unless (i) the 2027 Notes or the 2029 Notes, as applicable, are freely transferable without volume restrictions by holders that are not affiliates of the Issuers
in accordance with Rule 144 (or any similar provision then in effect), (ii) the 2027 Notes or the 2029 Notes, as applicable, do not bear a restrictive legend and (iii) the 2027 Notes or the 2029 Notes, as applicable, do not bear a restricted
CUSIP number as of the 370th day after the Closing Date. 

Section 2.    Representations and Warranties. As of the Time of Execution and at the Closing Date, the Issuers
and the Guarantors jointly and severally represent and warrant to and agree with each of the Initial Purchasers as follows (references in this Section 2 to the “Offering Memorandum” are to (i) the Pricing Disclosure
Package in the case of representations and warranties made as of the Time of Execution and (ii) both the Pricing Disclosure Package and the Final Memorandum in the case of representations and warranties made at the Closing Date): 

(a)    The Preliminary Memorandum, on the date thereof, did not contain any untrue statement of a material
fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. At the Time of Execution, the Pricing Disclosure Package did not, and on the Closing
Date, will not, and the Final Memorandum as of its date and on the Closing Date will not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading; provided, however, that the Issuers and the Guarantors make no representation or warranty as to the information contained in or omitted from the Pricing Disclosure Package and Final
Memorandum, in reliance upon and in conformity with information furnished in writing to the Partnership by or on behalf of the Initial Purchasers through the Representative specifically for inclusion therein. The Issuers and the Guarantors have not
distributed or referred to and will not distribute or refer to any written communications (as defined in Rule 405 of the Act) that constitute an offer to sell or solicitation of an offer to buy the Notes (each such communication by the Issuers and
the Guarantors or each of their agents and representatives (other than the Pricing Disclosure Package and Final Memorandum), an “Issuer Written Communication”) other than the Pricing Disclosure Package, the Final Memorandum and the
recorded electronic road show made available to investors (the “Recorded Road Show”). Any information in an Issuer Written Communication that is not otherwise included in the Pricing Disclosure Package and the Final Memorandum does
not conflict with the Pricing Disclosure Package or the Final Memorandum and, each Issuer Written Communication, when taken together with the Pricing Disclosure Package does not at the Time of Execution and when taken together with the Final
Memorandum at the Closing Date will not, contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
misleading. 
 (b)    Each of the Partnership, the General Partner and the Material Subsidiaries has been
duly organized or formed and is validly existing as a limited partnership or limited liability company, as applicable, in good standing under the laws of the jurisdiction set forth opposite its name in Schedule 2 attached hereto, with full
power and 

  
 3 

 
authority to own or lease its properties and to conduct its business, in each case as described in the Offering Memorandum in all material respects. Each of the Partnership, the General Partner
and the Material Subsidiaries is duly registered or qualified to do business as a foreign limited partnership or limited liability company, as applicable, and is in good standing under the laws of each jurisdiction which requires such registration
or qualification, except where the failure to be so registered or qualified would not reasonably be expected to have a Material Adverse Effect. “Material Adverse Effect” shall mean a material adverse effect on (i) the business
or properties, earnings, condition (financial or otherwise) or prospects, taken as a whole, of the Partnership and its Subsidiaries, considered as one enterprise, whether or not in the ordinary course of business, or (ii) the ability of each
Issuer and each Guarantor to perform its obligations under the Notes. 
 (c)    Finance Co has been duly
incorporated and is validly existing as a corporation in good standing under the laws of the State of Delaware. 

(d)    The General Partner is the sole general partner of the Partnership with an approximate 2.0% general
partner interest in the Partnership, taking into account the general partner interests which will be issued on or before a record date, end of a month or end of a quarter pursuant to Section 5.2(c) of the agreement of limited partnership of the
Partnership (as the same has been amended or restated, the “Partnership Agreement”); such general partner interest has been duly and validly authorized and issued in accordance with the Partnership Agreement; and the General Partner
owns such general partner interest free and clear of all liens, encumbrances, security interests, charges or other claims (“Liens”) other than (i) those created by or arising under the Delaware Revised Uniform Limited
Partnership Act (the “Delaware LP Act”) or the Partnership Agreement, (ii) restrictions on transferability and other Liens described in the Offering Memorandum, (iii) those arising pursuant to or permitted under that
certain Fourth Amended and Restated Credit Agreement, dated June 29, 2018, by and among the Partnership, Bank of America, N.A., as Administrative Agent, Collateral Agent and Swing Line Lender, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Barclays Bank PLC, Capital One, National Association, Citigroup Global Markets Inc., RBC Capital Markets, LLC and Wells Fargo Bank, National Association, as Co-Syndication Agents, BBVA Compass,
Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A., MUFG Union Bank, N.A., PNC Bank, National Association, and The Toronto-Dominion Bank, New York Branch, as Co-Documentation Agents and the other lenders and
L/C Issuers party thereto (as the same will be supplemented, amended or restated at or prior to the Closing Date and, together with the agreements, exhibits, and attachments contemplated or included therein, the
“Partnership Credit Agreement”), or (iv) those arising pursuant to or permitted under the Credit Agreement, dated February 27, 2015, by and among Targa Resources Corp., Bank of
America, N.A. as administrative agent, collateral agent, swing line lender and the letter of credit issuer and each lender from time to time party thereto (the “TRC Credit Agreement”). 

(e)    All of the issued and outstanding equity interests of each Material Subsidiary (i) have been
duly authorized and validly issued (in accordance with the limited partnership or limited liability company agreement (collectively, the 

  
 4 

 
“Organizational Agreements”) or the certificate of limited partnership, formation or conversion or other similar organizational document (in each case as in effect on the date
hereof and as the same has been amended or restated) (collectively with the Organizational Agreements, the “Material Subsidiary Organizational Documents”), as applicable, of such Material Subsidiary), are fully paid (except in the
case of an interest in a limited partnership or limited liability company, to the extent required under the Organizational Documents of such Material Subsidiary) and nonassessable (except as such nonassessability may be affected by Sections 17-607 and 17-804 of the Delaware LP Act, Sections 18-607 and 18-804 of the Delaware Limited
Liability Company Act (the “Delaware LLC Act”) or Sections 153.102, 153.103, 153.202 and 153.210 of the Texas Business Organizations Code (“TBOC”), as applicable), other than equity interests that are not owned,
directly or indirectly, by the Partnership, and (ii) other than Cedar Bayou Fractionators, L.P., a Delaware limited partnership (“CBF”), Targa Pipeline Mid-Continent WestOk LLC, a
Delaware limited liability company (“WestOk”), and Targa Pipeline Mid-Continent WestTex LLC, a Delaware limited liability company (“WestTex”), are owned, directly or
indirectly, by the Partnership, free and clear of all Liens, other than those arising pursuant to or permitted under the Partnership Credit Agreement and the applicable Material Subsidiary Organizational Documents. The Partnership owns, directly or
indirectly, (A) an 88.24% interest in CBF, (B) all of the outstanding Class B Units in WestOk and (C) all of the outstanding Class B Units in WestTex, in each case free and clear of all Liens except those arising pursuant to
or permitted under the Partnership Credit Agreement and the applicable Organizational Documents. The Subsidiaries other than the Subsidiaries listed on Schedule 5 hereto did not, individually or in the aggregate, account for (x) more than 10%
of the total assets of the Partnership and the Subsidiaries, taken as a whole, as of September 30, 2018 or (y) more than 10% of the net income of the Partnership and the Subsidiaries, taken as a whole, for the nine months ended
September 30, 2018. 
 (f)    The authorized, issued and outstanding equity interests of the
Partnership are as set forth in the Offering Memorandum as of the dates specified therein. All of the issued equity interests of the Partnership and all of the issued shares of capital stock of Finance Co have been duly authorized and validly issued
and are fully paid (to the extent required in the Partnership Agreement with respect to the Partnership) and nonassessable (except as such nonassessability may be affected by Sections 17-607 and 17-804 of the Delaware LP Act with respect to the Partnership); and none of the outstanding equity interests of the Partnership and none of the outstanding shares of capital stock of Finance Co were issued in
violation of the preemptive or other similar rights of any security holder of the Partnership or Finance Co, respectively. 

(g)    Except as otherwise disclosed in the Offering Memorandum, there are no outstanding
(i) securities or obligations of the Partnership convertible into or exchangeable for any equity interests of the Partnership, (ii) warrants, rights or options to subscribe for or purchase from the Partnership any such equity interests or
any such convertible or exchangeable securities or obligations or (iii) obligations of the Partnership to issue any such equity interests, any such convertible or exchangeable securities or obligations, or any such warrants, rights or options.

  
 5 

 (h)    Each of the Issuers and each Guarantor has all
requisite corporate, partnership or limited liability company power and authority, as applicable, to execute, deliver and perform each of its obligations under the Notes, the Exchange Notes and the Private Exchange Notes (as defined in the
Registration Rights Agreements). The Notes, the Exchange Notes and the Private Exchange Notes have each been duly authorized by the Issuers and, when executed by each of the Issuers and authenticated by the Trustee in accordance with the provisions
of the Indenture and, in the case of the Notes, when delivered to and paid for by the Initial Purchasers in accordance with the terms of this Agreement, and, in the case of any Exchange Notes or Private Exchange Notes, when issued in exchange for
the Notes as provided in the Registration Rights Agreements, will constitute valid and legally binding obligations of each of the Issuers, entitled to the benefits of the Indenture, and enforceable against each of the Issuers in accordance with
their terms, except that the enforcement thereof may be subject to (i) bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect relating to creditors’ rights generally, and (ii) general
principles of equity and the discretion of the court before which any proceeding therefor may be brought (collectively, the “Enforceability Exceptions”). The Guarantees have been duly authorized by each Guarantor and, upon the due
issuance and delivery of the related Notes and the due endorsement of the notations of Guarantee thereon, will constitute valid and legally binding obligations of each Guarantor, enforceable against each Guarantor in accordance with their terms,
except that the enforcement thereof may be subject to the Enforceability Exceptions, and will be entitled to the benefits of the Indenture. 

(i)    Each of the Issuers and each Guarantor has all requisite corporate, partnership or limited liability
company power and authority, as applicable, to execute, deliver and perform each of its obligations under the Indenture. The Indenture meets the requirements for qualification under the Trust Indenture Act of 1939, as amended (the
“TIA”). The Indenture has been duly authorized by each of the Issuers and Guarantors and, when executed and delivered by each of the Issuers and each Guarantor (assuming the due authorization, execution and delivery by the Trustee),
will constitute a valid and legally binding agreement of each of the Issuers and each Guarantor, enforceable against each of the Issuers and each Guarantor in accordance with its terms, except that the enforcement thereof may be subject to the
Enforceability Exceptions. 
 (j)    Each of the Issuers and each Guarantor has all requisite corporate,
partnership or limited liability company power and authority, as applicable, to execute, deliver and perform each of its obligations under the Registration Rights Agreements. The Registration Rights Agreements have been duly authorized by the
Issuers and the Guarantors and, when executed and delivered by each of the Issuers and each Guarantor (assuming the due authorization, execution and delivery by the Initial Purchasers), will constitute valid and legally binding agreements of each of
the Issuers and each Guarantor, enforceable against each of the Issuers and each Guarantor in accordance with their terms, except that (A) the enforcement thereof may be subject to the Enforceability Exceptions and (B) any rights to
indemnity or contribution thereunder may be limited by federal and state securities laws and public policy considerations. 

  
 6 

 (k)    Each of the Issuers and each Guarantor has all
requisite corporate, partnership or limited liability company power and authority, as applicable, to execute, deliver and perform each of its obligations under this Agreement and to consummate the transactions contemplated hereby. This Agreement and
the consummation by each of the Issuers and each Guarantor of the transactions contemplated hereby have been duly authorized by each of the Issuers and each Guarantor. This Agreement has been duly executed and delivered by each of the Issuers and
each Guarantor. 
 (l)    No permit, consent, approval, authorization, order, registration, filing or
qualification (“Permits”) of or with any court or governmental agency or body having jurisdiction over any of the Issuers or any Material Subsidiary or any of their respective properties or assets is required in connection with the
issuance and sale by the Issuers of the Notes to the Initial Purchasers or the consummation by the Issuers of the other transactions contemplated hereby, except (i) such Permits as may be required under the Act, the Exchange Act and state
securities or “Blue Sky” laws of any jurisdiction, (ii) such Permits as have been obtained or will be obtained prior to the Closing Date, (iii) such Permits that, if not obtained, could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect and (iv) such Permits as are disclosed in the Offering Memorandum. 

(m)    Neither of the Issuers nor any Material Subsidiary is in (i) violation of its Organizational
Documents, (ii) violation of any statute, law, rule or regulation, or any judgment, order, injunction or decree of any court, governmental agency or body or arbitrator having jurisdiction over any of the Issuers or Material Subsidiaries or any
of their respective properties or assets or (iii) breach, default (or an event which, with notice or lapse of time or both, would constitute such an event) or violation in the performance of any obligation, agreement or condition contained in
any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which it is a party or by which it or any of its properties may be bound, which in the case of either clause (ii) or (iii) would, if continued,
have a Material Adverse Effect. 
 (n)    None of (i) the execution, delivery and performance by
either of the Issuers or any Guarantor of this Agreement, the Indenture and the Registration Rights Agreements or (ii) the consummation by either of the Issuers or any Guarantor of the transactions contemplated hereby (including, without
limitation, the issuance and sale of the Notes to the Initial Purchasers) (A) constitutes or will constitute a violation of the Organizational Documents of either of the Issuers or any Guarantor, (B) conflicts or will conflict with or
constitutes or will constitute a breach or violation of, or a default (or an event that, with notice or lapse of time or both, would constitute such a default) under any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or
instrument to which either of the Issuers or any Guarantor is a party or by which any of them or any of their respective properties may be bound, or (C) (assuming compliance with all applicable state securities or “Blue Sky” laws and
assuming the accuracy of the representations and warranties of the Initial Purchasers in Section 8 hereof) violates or will violate any statute, judgment, decree, order, rule or regulation applicable to either of the Issuers or any Guarantor or
any of their respective properties or assets, except, with respect to clauses (B) and (C) only, for any such breach or violation that would not, 

  
 7 

 
individually or in the aggregate, have a Material Adverse Effect or materially impair the ability of the Issuers or the Guarantors, as applicable, to consummate the transactions contemplated by
this Agreement. 
 (o)    The Partnership Agreement has been duly authorized, executed and delivered by
the General Partner, and is a valid and legally binding agreement of the General Partner, enforceable against the General Partner in accordance with its terms; provided, that, with respect to the Partnership Agreement, the enforceability
thereof may be limited by the Enforceability Exceptions; provided, further, that the indemnity, contribution and exoneration provisions contained in any of such agreements may be limited by applicable laws and public policy. 

(p)    The Organizational Agreements of the Material Subsidiaries, as applicable, have been duly
authorized, executed and delivered by the parties thereto, and are valid and legally binding agreements of such parties, enforceable against such parties in accordance with their terms; provided, that, with respect to such agreements, the
enforceability thereof may be limited by the Enforceability Exceptions; provided, further, that the indemnity, contribution and exoneration provisions contained in any of such agreements may be limited by applicable laws and public
policy. 
 (q)    The historical consolidated financial statements of the Partnership and its
Subsidiaries included in the Offering Memorandum present fairly in all material respects the financial position, results of operations and cash flows of the Partnership and its consolidated Subsidiaries purported to be shown thereby on the basis
stated therein at the respective dates or for the respective periods to which they apply, and have been prepared in accordance with generally accepted accounting principles consistently applied throughout the periods involved, except to the extent
disclosed therein. The summary financial data included in the Offering Memorandum is accurately presented in all material respects and prepared on a basis consistent with the audited and unaudited historical consolidated financial statements, as
applicable, from which it has been derived. PricewaterhouseCoopers LLP (the “Independent Accountants”), which has certified certain financial statements of the Partnership and its Subsidiaries and delivered its report with respect
to the audited consolidated financial statements incorporated by reference in the Offering Memorandum, is an independent public accounting firm within the meaning of the Act and the rules and regulations promulgated thereunder. The interactive data
in eXtensbile Business Reporting Language included or incorporated by reference in the Pricing Disclosure Package and the Final Memorandum fairly presents the information called for in all material respects and has been prepared in accordance with
the Commission’s rules and guidelines applicable thereto in all material respects. 
 (r)    Except
as set forth or contemplated in the Offering Memorandum, there is (i) no action, suit or proceeding before or by any court, arbitrator or governmental agency, body or official, domestic or foreign, now pending or, to the knowledge of the
Partnership, threatened, to which any of the Issuers or Material Subsidiaries is or may be a party or to which the business or property of any of the Issuers or Material Subsidiaries is or may be subject, (ii) to the knowledge of the
Partnership, no statute, rule, regulation or order that has been enacted, adopted or issued by any governmental agency and (iii) no 

  
 8 

 
injunction, restraining order or order of any nature issued by a federal or state court or foreign court of competent jurisdiction to which any of the Issuers or Material Subsidiaries is or may
be subject, that, in the case of clauses (i), (ii) and (iii) above, is reasonably expected to (A) individually or in the aggregate have a Material Adverse Effect, (B) prevent the consummation of the issuance or sale of the Notes to be
sold hereunder, or (C) draw into question the validity of this Agreement. 
 (s)    Each of the
Issuers and the Material Subsidiaries possesses such permits, licenses, approvals, consents and other authorizations (collectively, “Governmental Licenses”) issued by the appropriate federal, state, local or foreign regulatory
agencies or bodies necessary to conduct their respective businesses, except where the failure so to possess would not, individually or in the aggregate, result in a Material Adverse Effect; each of the Issuers and each Material Subsidiary is in
compliance with the terms and conditions of all such Governmental Licenses, except where the failure so to comply would not, individually or in the aggregate, result in a Material Adverse Effect; all of the Governmental Licenses are valid and in
full force and effect, except when the invalidity of such Governmental Licenses or the failure of such Governmental Licenses to be in full force and effect would not, individually or in the aggregate, result in a Material Adverse Effect; and except
as described in the Offering Memorandum, neither of the Issuers and no Material Subsidiary has received any notice of proceedings relating to the revocation or modification of any such Governmental Licenses which, individually or in the aggregate,
if the subject of an unfavorable decision, ruling or finding, would result in a Material Adverse Effect. 

(t)    Since the date of the most recent financial statements appearing in the Offering Memorandum and
except as set forth or contemplated in the Offering Memorandum, (i) none of the Issuers or the Material Subsidiaries has incurred any liabilities or obligations, direct or contingent, or entered into or agreed to enter into any transactions or
contracts (written or oral) not in the ordinary course of business, which liabilities, obligations, transactions or contracts would, individually or in the aggregate, be material to the general affairs, management, business, condition (financial or
otherwise), prospects or results of operations of the Partnership and its Subsidiaries, taken as a whole and (ii) the Partnership has not purchased any of its outstanding equity interests, nor declared, paid or otherwise made any distribution
of any kind on its equity interests (other than (A) the Partnership’s quarterly or monthly distributions on its common units and the Partnership’s monthly distributions on its Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Units, (B) with respect to any of the Subsidiaries, the purchase of, or dividend or distribution on, capital stock or equity interests owned by the
Partnership and (C) distribution equivalent rights on any of the Partnership’s equity-based awards). 

(u)    Except as set forth or contemplated in the Offering Memorandum, each of the Issuers and the Material
Subsidiaries has filed all foreign, federal, state and local tax returns that are required to be filed or has requested extensions thereof, except in any case in which the failure so to file, individually or in the aggregate, would not have a
Material Adverse Effect, and has paid all taxes required to be paid by it and any other assessment, fine or penalty levied against it, to the extent that any of the foregoing is due and payable, 

  
 9 

 
except for any such tax, assessment, fine or penalty that is currently being contested in good faith or as, individually or in the aggregate, would not have a Material Adverse Effect. 

(v)    Immediately after the consummation of the transactions contemplated by this Agreement, the fair
value and present fair saleable value of the assets of each of the Issuers and the Material Subsidiaries (each on a consolidated basis) will exceed the sum of its stated liabilities and identified contingent liabilities. Each of the Issuers and the
Guarantors is not now nor, after giving effect to the issuance of the Notes and the execution, delivery and performance of this Agreement, the Registration Rights Agreements and the Indenture and the consummation of the transactions contemplated
thereby or described in the Offering Memorandum, will be (i) insolvent, (ii) left with unreasonably small capital with which to engage in its anticipated business or (iii) incurring debts or other obligations beyond its ability to pay
such debts or obligations as they become due. 
 (w)    Any statistical and market-related data included
in the Offering Memorandum are based on or derived from sources that each of the Issuers and the Guarantors believe to be reliable and accurate, and the Issuers have obtained the written consent to the use of such data from such sources to the
extent required. 
 (x)    Each of the Issuers and the Material Subsidiaries has good and marketable
title to all real property and good title to all personal property described in the Offering Memorandum as being owned by it free and clear of all Liens, except (i) as described, and subject to limitations contained, in the Offering Memorandum,
(ii) Liens that arise under the Partnership Credit Agreement or (iii) to the extent the failure to have such title or the existence of such Liens would not, individually or in the aggregate, have a Material Adverse Effect; provided
that, with respect to any real property and buildings held under lease by the Partnership and the Material Subsidiaries, such real property and buildings are held under valid and subsisting and enforceable leases with such exceptions as do not
materially interfere with the use of the properties of the Partnership and the Material Subsidiaries taken as a whole as they have been used in the past as described in the Offering Memorandum and are proposed to be used in the future as described
in the Offering Memorandum, except to the extent the failure to hold such valid and subsisting and enforceable leases would not, individually or in the aggregate, have a Material Adverse Effect. 

(y)    The Partnership and the Material Subsidiaries have such easements or
rights-of-way (collectively, “rights-of-way”) as are necessary to
conduct their business in the manner described, and subject to the limitations contained, in the Offering Memorandum, except for (i) qualifications, reservations and encumbrances that would not have, individually or in the aggregate, a Material
Adverse Effect, (ii) such rights-of-way that, if not obtained, would not have, individually or in the aggregate, a Material Adverse Effect and (iii) rights-of-way held by affiliates of the Partnership as nominee for the benefit of the Partnership and the Material Subsidiaries. 

  
 10 

 (z)    Except for such exceptions that would not
reasonably be expected to result in a Material Adverse Effect, (i) each of the Issuers and each Material Subsidiary owns or possesses, or can acquire or use on reasonable terms, adequate patents, patents rights, licenses, inventions,
copyrights, know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures), trademarks, service marks, trade names or other
intellectual property (collectively, “Intellectual Property”) necessary to carry out their respective businesses now or proposed to be operated by them as described in the Offering Memorandum, and (ii) each of the Issuers and
each Material Subsidiary has not received any notice and is not otherwise aware of any infringement of or conflict with asserted rights of others with respect to any Intellectual Property or of any facts or circumstances that would render any
Intellectual Property invalid or inadequate to protect any of its interest therein. 
 (aa)    There are
no legal or governmental proceedings pending or, to the knowledge of the Partnership, threatened or contemplated, against either of the Issuers or the Material Subsidiaries or any of their respective properties or assets that would be required to be
described in a prospectus pursuant to the Act that are not described in the Offering Memorandum, nor are there any agreements, contracts, indentures, leases or other instruments that would be required to be described in a prospectus pursuant to the
Act that are not described in the Offering Memorandum. Except as set forth or contemplated in the Offering Memorandum, to the knowledge of the Partnership, no legal or governmental proceedings are pending or threatened to which either of the Issuers
or any of the Material Subsidiaries is a party or to which the property or assets of the Issuers or any Material Subsidiary is subject that, if determined adversely to the Issuers or the Material Subsidiaries, could be reasonably expected to result,
individually or in the aggregate, in a Material Adverse Effect. 
 (bb)    The Partnership is in
compliance in all material respects with all applicable provisions of the Sarbanes Oxley Act of 2002 and the rules and regulations promulgated in connection therewith (the “Sarbanes Oxley Act”). 

(cc)    Except as disclosed in the Offering Memorandum and as would not, individually or in the aggregate,
result in a Material Adverse Effect: (i) the Partnership and the Material Subsidiaries are and, during the relevant time periods specified in all applicable statutes of limitation, have been in compliance with applicable Environmental Laws (as
defined below); (ii) the Partnership and the Material Subsidiaries have obtained and are in compliance with all Environmental Permits (as defined below) required of them under applicable Environmental Laws to conduct the Partnership’s business
as presently conducted; (iii) none of the Partnership or the Material Subsidiaries has received any written notice of an action, suit, demand, claim, hearing, notice of violation or investigation, or proceeding, which matter remains unresolved
and alleges liability of the Partnership or any Material Subsidiary under, or violation by the Partnership or any Material Subsidiary of, any Environmental Law, and to the knowledge of the Partnership, no facts, circumstances or conditions exist
that would reasonably be expected to result in the receipt of such notice; and (iv) to the knowledge of the Partnership, there are no releases of Hazardous Materials (as defined below) that would reasonably be expected to give rise to
liabilities or obligations under any Environmental Law. 

  
 11 

 For purposes of this Agreement: (i) “Environmental Law” means all federal,
state and local laws, rules (including but not limited to rules of common law), regulations, ordinances, orders, decrees and other legally-enforceable requirements of any governmental entity relating to pollution, protection of human health (to the
extent relating to exposure to Hazardous Materials) or the Environment, including those relating to the generation, storage, treatment, disposal, transport or release of Hazardous Materials; (ii) “Hazardous Materials” means any
pollutant or contaminant, chemical, material, waste or substance in any form regulated under any applicable Environmental Law including, but not limited to any: (A) “hazardous substance” as defined in the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, as amended; (B) “hazardous waste” as defined in the Resource Conservation and Recovery Act, as amended; (C) petroleum or petroleum product, natural gas, natural gas
liquids, or crude oil or any fraction thereof; (D) polychlorinated biphenyls; and (E) naturally occurring radioactive materials; (iii) “Environmental Permits” means any permit, authorization, license, variance, and
approvals required under applicable Environmental Law; and (iv) “Environment” means ambient air, indoor air, surface water, groundwater, drinking water, land surface and subsurface strata, and natural resources such as wetlands,
flora and fauna. 
 (dd)    There is no strike, labor dispute, slowdown or work stoppage with the
employees of the Issuers or the Material Subsidiaries that is pending or, to the knowledge of the Partnership, threatened that could reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 

(ee)    Except as disclosed in the Offering Memorandum, no proceedings for the merger, consolidation,
liquidation or dissolution of either of the Issuers or the Material Subsidiaries or the sale of all or a material part of the assets of either of the Issuers or the Material Subsidiaries or any material acquisition by either of the Issuers or any
Material Subsidiary are pending that would be required by the Act to be disclosed in a prospectus included in a Registration Statement on Form S-1 under the Act. 

(ff)    (i) The Issuers and the Material Subsidiaries have not sustained, since the date of the latest
audited financial statements included in the Offering Memorandum (exclusive of any amendment or supplement thereto), any material loss or interference with its business or properties from fire, explosion, flood, accident or other calamity, whether
or not covered by insurance, or from any labor dispute or court or governmental action, order or decree (whether domestic or foreign) otherwise than as set forth in the Offering Memorandum (exclusive of any amendment or supplement thereto) and
(ii) since such date, there has not occurred any change or development, in each case, that could reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 

(gg)    Each of the Issuers and the Material Subsidiaries carries or is entitled to the benefits of
insurance relating to their assets, with financially sound and reputable insurers, in such amounts and covering such risks as is commercially reasonable, and all such insurance is in full force and effect. Each of the Issuers and the Material
Subsidiaries has no reason to believe that it will not be able (i) to renew their existing 

  
 12 

 
insurance coverage relating to their respective assets as and when such policies expire or (ii) to obtain comparable coverage relating to their respective assets from similar institutions as
may be necessary or appropriate to conduct such business as now conducted and at a cost that would not reasonably be expected to have a Material Adverse Effect. 

(hh)    Except (i) as disclosed in the Offering Memorandum and (ii) in regard to regulation by
the Federal Energy Regulation Commission, neither of the Issuers nor any Material Subsidiary is subject to rate regulation under federal law. 

(ii)    Except as would not, individually or in the aggregate, have a Material Adverse Effect,
(i) each of the Issuers and each Material Subsidiary is in compliance with its obligations under all presently applicable provisions of the Employee Retirement Income Security Act of 1974, as amended, including the regulations and published
interpretations thereunder (“ERISA”); with respect to each “plan” (as defined in Section 3(3) of ERISA) in which any current or former employees of the Partnership or of any trade or business that, together with the
Partnership, is or has been treated, within the six years preceding such date, as a single employer under Section 4001(b)(1) of ERISA or Section 414 of the Internal Revenue Code of 1986, as amended, including the regulations and published
interpretations thereunder (the “Code”), are or have been eligible to participate, (ii) no “reportable event” (as defined in ERISA) has occurred with respect to any such plan that is a “pension plan” (as
defined in ERISA, hereinafter, a “Pension Plan”) for which any of the Issuers or a Material Subsidiary would have any liability, excluding any reportable event for which a waiver could apply; and (iii) none of the Issuers or
Material Subsidiaries expects to incur liability under Title IV of ERISA with respect to termination of, or withdrawal from, any Pension Plan or Sections 430 or 4971 of the Code with respect to any Pension Plan. 

(jj)    Except as disclosed in the Offering Memorandum, the Partnership and the Material Subsidiaries
maintain a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as
necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or
specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. Except as disclosed in the Offering
Memorandum, the Partnership’s and the Material Subsidiaries’ internal controls over financial reporting are effective and none of the Partnership and the Material Subsidiaries is aware of any material weakness in their internal control
over financial reporting. 
 (kk)    Except as disclosed in the Offering Memorandum (i) the
Partnership has established and maintains disclosure controls and procedures (to the extent required by and as such term is defined in Rule 13a-15 under the Exchange Act), (ii) such disclosure controls and
procedures are designed to ensure that the information required to be disclosed by the Partnership in the reports filed or to be filed or submitted under the 

  
 13 

 
Exchange Act, as applicable, is accumulated and communicated to management of the General Partner, including its principal executive officers and principal financial officers, as appropriate, to
allow timely decisions regarding required disclosure to be made and (iii) such disclosure controls and procedures are effective in all material respects to perform the functions for which they were established to the extent required by Rule 13a-15 of the Exchange Act. 
 (ll)    Neither of the Issuers nor any
Guarantor is an “investment company” or “promoter” or “principal underwriter” for an “investment company,” as such terms are defined in the Investment Company Act of 1940, as amended (the “Investment
Company Act”), and the rules and regulations thereunder. 
 (mm)    The descriptions of the
Notes, the Indenture and the Registration Rights Agreements contained in the Offering Memorandum are accurate in all material respects. 

(nn)    No holder of securities of either of the Issuers or the Material Subsidiaries will be entitled to
have such securities registered under the registration statements that may be required to be filed by the Issuers pursuant to the Registration Rights Agreements other than as expressly permitted thereby. 

(oo)    None of the Issuers, any Material Subsidiary or, to the knowledge of the Issuers, any of their
respective Affiliates (as defined in Rule 501(b) of Regulation D under the Act) has directly, or through any agent, (i) sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of, any “security” (as
defined in the Act) that is or could be integrated with the sale of the Notes in a manner that would require the registration under the Act of the Notes or (ii) engaged in any form of general solicitation or general advertising (as those terms
are used in Regulation D under the Act) in connection with the offering of the Notes or in any manner involving a public offering within the meaning of Section 4(a)(2) of the Act. Assuming the accuracy of the representations and warranties of
the Initial Purchasers in Section 8 hereof, it is not necessary in connection with the offer, sale and delivery of the Notes to the Initial Purchasers or the endorsement of the Guarantees by the Guarantors in the manner contemplated by this
Agreement to register any of the Notes under the Act or to qualify the Indenture under the TIA. 

(pp)    No securities of either of the Issuers or the Guarantors are of the same class (within the meaning
of Rule 144A under the Act) as the Notes and listed on a national securities exchange registered under Section 6 of the Exchange Act, or quoted in a U.S. automated inter-dealer quotation system. 

(qq)    None of the Issuers or the Material Subsidiaries has taken, nor will any of them take, directly or
indirectly, any action designed to, or that would constitute or that might be reasonably expected to result in, stabilization or manipulation of the price of the Notes. 

(rr)    None of the Issuers, the Material Subsidiaries or, to the knowledge of the Issuers, any of their
respective Affiliates or any person acting on its or their behalf (other 

  
 14 

 
than the Initial Purchasers) has engaged in any directed selling efforts (as that term is defined in Regulation S under the Act (“Regulation S”)) with respect to the Notes; the
Issuers, the Material Subsidiaries and, to the knowledge of the Issuers, their respective Affiliates and any person acting on its or their behalf (other than the Initial Purchasers) have complied with the offering restrictions requirement of
Regulation S. 
 (ss)    There are no stamp or other issuance or transfer taxes or duties or other
similar fees or charges required to be paid in the United States in connection with the execution and delivery of this Agreement or the issuance or sale by the Issuers of the Notes. 

(tt)    None of the Issuers, the Subsidiaries or, to the knowledge of the Issuers, any director, officer,
agent, employee or Affiliate of the Issuers or any of the Subsidiaries (in their capacity as directors, officers, agents or employees) is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of
the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the “FCPA”), including, without limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in
furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value to any “foreign official” (as such term is defined
in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA; and the Issuers, the Subsidiaries and, to the knowledge of the Issuers, their affiliates have conducted
their businesses in compliance with the FCPA and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith. 

(uu)    The operations of the Issuers and the Subsidiaries are and have been conducted at all times in
compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions, the USA PATRIOT Act, the rules and
regulations thereunder, and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Money Laundering Laws”) and no action, suit or proceeding by or
before any court or governmental agency, authority or body or any arbitrator involving the Issuers or any of the Subsidiaries with respect to the Money Laundering Laws is pending or, to the best knowledge of the Issuers, threatened. 

(vv)    No Material Subsidiary is currently prohibited, directly or indirectly, from paying any
distributions to the Partnership, from making any other distribution on such Material Subsidiary’s equity interests, from repaying to the Partnership any loans or advances to such Material Subsidiary from the Partnership or from transferring
any of such Material Subsidiary’s property or assets to the Partnership or any other Subsidiary of the Partnership, except (i) as described in or contemplated by the Offering Memorandum, (ii) arising pursuant to or permitted under the
Partnership Credit Agreement, (iii) such prohibitions mandated by the laws of each such Material Subsidiary’s state of formation or the terms of any such Material Subsidiary’s governing instruments or (iv) where such prohibition
would not reasonably be expected to have a Material Adverse Effect. 

  
 15 

 (ww)    None of the Issuers, the Subsidiaries or, to the
knowledge of the Issuers, any director, officer, agent, employee or Affiliate of the Issuers or any of the Subsidiaries (in their capacity as directors, officers, agents or employees) is currently subject to any U.S. sanctions administered by the
Office of Foreign Assets Control of the U.S. Department of the Treasury (“OFAC”) nor is either Issuer or the Subsidiaries located, organized or resident in a country or territory that is the subject or target of U.S. sanctions; and
the Issuers will not directly or indirectly use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing or
facilitating the activities of any person currently subject to any U.S. sanctions administered by OFAC or in any sanctioned country. 
 Any
certificate signed by any officer of the Issuers or the Guarantors and delivered to any Initial Purchaser or to counsel for the Initial Purchasers in connection with the offering of the Notes shall be deemed a representation and warranty by each of
the Issuers or each Guarantor to the Initial Purchasers as to the matters covered thereby. 

Section 3.    Purchase, Sale and Delivery of the Notes. On the basis of the representations, warranties,
agreements and covenants herein contained and subject to the terms and conditions herein set forth, the Issuers agree (i) to issue and sell to the 2027 Initial Purchasers, and the 2027 Initial Purchasers, acting severally and not jointly, agree
to purchase the 2027 Notes in the respective amounts set forth on Schedule 1A hereto from the Issuers at 99.25% of their principal amount and (ii) to issue and sell to the 2029 Initial Purchasers, and the 2029 Initial Purchasers, acting
severally and not jointly, agree to purchase the 2029 Notes in the respective amounts set forth on Schedule 1B hereto from the Issuers at 99.25% of their principal amount. One or more certificates in global form for each of the 2027 Notes and
the 2029 Notes that the applicable Initial Purchasers have agreed to purchase hereunder, each in such principal amount as the Initial Purchasers request upon notice to the Issuers at least 36 hours prior to the Closing Date, shall be delivered by or
on behalf of the Issuers to the Trustee, as custodian for The Depository Trust Company (“DTC”), and each series of the Notes in book-entry form shall be delivered to the applicable Initial Purchasers through the facilities of DTC,
against payment by or on behalf of such Initial Purchasers of the purchase price therefor by wire transfer (same day funds), to such account or accounts as the Partnership shall specify prior to the Closing Date, or by such means as the parties
hereto shall agree prior to the Closing Date. Such delivery of the certificates and payment for the Notes shall be made at the offices of Vinson & Elkins L.L.P., 1001 Fannin Street, Suite 2500, Houston, Texas at 9:00 A.M. Houston time, on
January 17, 2019, or at such other place, time or date as the Initial Purchasers, on the one hand, and the Issuers, on the other hand, may agree upon, such time and date of delivery against payment being herein referred to as the
“Closing Date.” 
 Section 4.    Offering by the Initial Purchasers. The 2027 Initial
Purchasers and the 2029 Initial Purchasers, as applicable, propose to make an offering of the 2027 Notes and the 2029 Notes, as applicable, at the prices and upon the terms set forth in the Pricing Disclosure Package and the Final Memorandum as soon
as practicable after this Agreement is entered into and as in the judgment of the Initial Purchasers is advisable. 

  
 16 

 Section 5.    Covenants of the Issuers and the Guarantors.
Each Issuer and each Guarantor covenants and agrees with each of the Initial Purchasers as follows: 

(a)    Until the later of (i) the completion of the distribution of the Notes by the Initial
Purchasers and (ii) the Closing Date, the Issuers will not amend or supplement the Pricing Disclosure Package or the Final Memorandum or otherwise distribute or refer to any Issuer Written Communication (other than the Recorded Road Show)
unless the Initial Purchasers shall previously have been advised and furnished a copy for a reasonable period of time prior to the proposed amendment or supplement. The Issuers will promptly, upon the reasonable request of the Initial Purchasers or
counsel for the Initial Purchasers, make any amendments or supplements to the Pricing Disclosure Package and the Final Memorandum that may be necessary or advisable in connection with the resale of the Notes by the Initial Purchasers. 

(b)    The Issuers will cooperate with the Initial Purchasers in arranging for the qualification of the
Notes for offering and sale under the securities or “Blue Sky” laws of such jurisdictions as the Initial Purchasers may designate and will continue such qualifications in effect for as long as may be necessary to complete the resale of the
Notes; provided, however, that in connection therewith, the Issuers shall not be required to qualify as a foreign limited partnership or corporation or to execute a general consent to service of process in any jurisdiction or subject
itself to taxation in any such jurisdiction where it is not then so subject. 
 (c)    (1) If, at any
time prior to the completion of the sale by the Initial Purchasers of the Notes, any event occurs or information becomes known as a result of which the Final Memorandum as then amended or supplemented would include any untrue statement of a material
fact, or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, or if for any other reason it is necessary at any time to amend or supplement the Final
Memorandum to comply with applicable law, the Issuers will promptly notify the Initial Purchasers thereof and will prepare, at the expense of the Partnership, an amendment or supplement to the Final Memorandum that corrects such statement or
omission or effects such compliance and (2) if at any time prior to the Closing Date (i) any event shall occur or condition shall exist as a result of which any of the Pricing Disclosure Package as then amended or supplemented would
include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading or any Issuer Written Communication
would conflict with the Pricing Disclosure Package as then amended or supplemented, or (ii) it is necessary to amend or supplement any of the Pricing Disclosure Package so that any of the Pricing Disclosure Package or any Issuer Written
Communication will comply with law, the Issuers will immediately notify the Initial Purchasers thereof and forthwith prepare and, subject to paragraph (a) above, furnish to the Initial Purchasers such amendments or supplements to any of the
Pricing Disclosure Package or any Issuer Written Communication (it being 

  
 17 

 
understood that any such amendments or supplements may take the form of an amended or supplemented Final Memorandum) as may be necessary so that the statements in any of the Pricing Disclosure
Package as so amended or supplemented will not, in light of the circumstances under which they were made, be misleading or so that any Issuer Written Communication will not conflict with the Pricing Disclosure Package or so that the Pricing
Disclosure Package or any Issuer Written Communication as so amended or supplemented will comply with law. 

(d)    The Issuers will, without charge, provide to the Initial Purchasers and to counsel for the Initial
Purchasers as many copies of the Pricing Disclosure Package, any Issuer Written Communication and the Final Memorandum or any amendment or supplement thereto as the Initial Purchasers may reasonably request. 

(e)    The Partnership will apply the net proceeds from the sale of the Notes as set forth under “Use
of Proceeds” in the Pricing Disclosure Package and the Final Memorandum. 
 (f)    Prior to the
Closing Date, the Issuers will furnish to the Initial Purchasers, as soon as they have been prepared, a copy of any unaudited interim financial statements of the Issuers for any period subsequent to the period covered by the most recent financial
statements appearing in the Pricing Disclosure Package and the Final Memorandum; provided, however, that the Issuers do not need to furnish such financial statements to the Initial Purchasers if they are available on the Commission’s website.

 (g)    None of the Issuers or any of its affiliates that it controls will, and the Issuers will use
their commercially reasonable efforts to cause their other affiliates not to, sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any “security” (as defined in the Act) that could be integrated with the sale
of the Notes in a manner which would require the registration under the Act of the Notes. 
 (h)    The
Issuers will not, and will not permit any of their subsidiaries or their respective affiliates that they control or persons acting on their behalf to, and the Issuers will use their commercially reasonable efforts to cause their other affiliates not
to, engage in any form of general solicitation or general advertising (as those terms are used in Regulation D under the Act) in connection with the offering of the Notes or in any manner involving a public offering within the meaning of
Section 4(a)(2) of the Act. 
 (i)    For so long as any of the 2027 Notes or the 2029 Notes, as
applicable, remain outstanding, the Issuers or Targa Resources Corp. will make available at their expense, upon request, to any holder of such Notes and any prospective purchasers thereof the information specified in Rule 144A(d)(4) under the
Act, unless either of the Issuers or Targa Resources Corp. is then subject to Section 13 or 15(d) of the Exchange Act. 

(j)    The Issuers will use their commercially reasonable efforts to permit the Notes to be eligible for
clearance and settlement through DTC. 

  
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 (k)    During the period beginning on the date hereof
and continuing to the date that is 45 days after the Closing Date, without the prior written consent of the Representative, the Issuers will not offer, sell, contract to sell or otherwise dispose of, except as provided hereunder, any securities of
the Issuers (or guaranteed by the Issuers) that are substantially similar to the Notes (except for the Notes which would be issuable pursuant to the exchange offer described in the Preliminary Memorandum and the Final Memorandum). 

(l)    In connection with Notes offered and sold in an offshore transaction (as defined in Regulation S)
the Issuers will not register any transfer of such Notes not made in accordance with the provisions of Regulation S and will not, except in accordance with the provisions of Regulation S, if applicable, issue any such Notes in the form of definitive
securities. 
 (m)    None of the Issuers or any of their affiliates that they control will engage in any
directed selling efforts (as that term is defined in Regulation S) with respect to the Notes. 

(n)    For a period of one year (calculated in accordance with paragraph (d) of Rule 144 under
the Act) following the date any Notes are acquired by either of the Issuers or any of their affiliates, if the Notes are Registrable Securities (as defined in the Registration Rights Agreements), neither of the Issuers nor any of their respective
affiliates that they control will sell any such Notes. 
 (o)    For so long as any Notes are
outstanding, the Issuers and the Guarantors will conduct their operations in a manner that will not subject the Issuers or any Guarantor to registration as an investment company under the Investment Company Act. 

(p)    Each Note will bear a legend substantially to the following effect until such legend shall no longer
be necessary or advisable because the Notes are no longer subject to the restrictions on transfer described therein: 
 “THIS SECURITY
HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS EXCEPT AS SET
FORTH BELOW. BY ITS ACQUISITION HEREOF, THE HOLDER (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT), (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN
AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT OR (C) IT IS AN ACCREDITED INVESTOR (AS DEFINED IN RULE 501(a)(1), (2), (3), OR (7) UNDER THE SECURITIES ACT (AN “ACCREDITED INVESTOR”)), (2) AGREES
THAT IT WILL NOT WITHIN [IN THE CASE OF NOTES SOLD IN RELIANCE ON RULE 144A: ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH AN ISSUER OR ANY AFFILIATE OF 

  
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 AN ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY)] [IN THE CASE
OF NOTES SOLD IN RELIANCE ON REGULATION S: 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE DATE ON WHICH THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE
902 OF REGULATION S)] (THE “RESALE RESTRICTION TERMINATION DATE”) RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO AN ISSUER OR ANY SUBSIDIARY THEREOF, (B) INSIDE THE UNITED STATES TO A QUALIFIED INSTITUTIONAL BUYER IN
COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (C) INSIDE THE UNITED STATES TO AN ACCREDITED INVESTOR THAT, PRIOR TO SUCH TRANSFER, FURNISHES (OR HAS FURNISHED ON ITS BEHALF BY A U.S. BROKER-DEALER) TO THE TRUSTEE A SIGNED LETTER
CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS ON TRANSFER OF THIS SECURITY (THE FORM OF WHICH LETTER CAN BE OBTAINED FROM THE TRUSTEE FOR THIS SECURITY), (D) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN
COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT (IF AVAILABLE), (E) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), (F) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE COMPANY SO REQUESTS), OR (G) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM
THIS SECURITY IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. IN CONNECTION WITH ANY TRANSFER OF THIS SECURITY PRIOR TO THE RESALE RESTRICTION TERMINATION DATE, IF THE PROPOSED TRANSFEREE IS AN ACCREDITED INVESTOR, THE HOLDER
MUST, PRIOR TO SUCH TRANSFER, FURNISH TO THE TRUSTEE AND THE ISSUERS SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS ANY OF THEM MAY REASONABLY REQUIRE TO CONFIRM THAT SUCH TRANSFER IS BEING MADE PURSUANT TO AN EXEMPTION FROM, OR IN A
TRANSACTION, NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AS USED HEREIN. THE TERMS “OFFSHORE TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANING GIVEN TO THEM BY REGULATION S UNDER
THE SECURITIES ACT. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER OR AN ISSUER ON OR AFTER THE RESALE RESTRICTION TERMINATION DATE.” 

Section 6.    Expenses. The Partnership agrees to pay all costs and expenses incident to the performance of
the Issuers’ and Guarantors’ obligations under this Agreement, whether or not the transactions contemplated herein are consummated or this Agreement is terminated pursuant to Section 11 hereof, including all costs and expenses
incident to (i) the printing, word processing or other production of documents with respect to the transactions contemplated hereby, including any costs of printing the Pricing Disclosure Package and the

  
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 Final Memorandum and any amendment or supplement thereto, and any “Blue Sky” memoranda,
(ii) all arrangements relating to the delivery to the Initial Purchasers of copies of the foregoing documents, (iii) the fees and disbursements of the counsel, the accountants and any other experts or advisors retained by the Issuers,
(iv) preparation (including printing), issuance and delivery to the Initial Purchasers of the Notes, (v) the qualification of the Notes under state securities and “Blue Sky” laws, including filing fees and fees and disbursements
of counsel for the Initial Purchasers relating thereto, (vi) one half of the expenses in connection with the “roadshow” and any other meetings with prospective investors in the Notes, (vii) fees and expenses of the Trustee
including fees and expenses of counsel, and (viii) any fees charged by investment rating agencies for the rating of the Notes. If the sale of the Notes provided for herein is not consummated because any condition to the obligations of the
Initial Purchasers set forth in Section 7 hereof is not satisfied, because this Agreement is terminated pursuant to Sections 11(a)(i), (ii) or (vi) or because of any failure, refusal or inability on the part of the Issuers to perform all
obligations and satisfy all conditions on their part to be performed or satisfied hereunder (other than solely by reason of a default by the Initial Purchasers of their obligations hereunder after all conditions hereunder have been satisfied in
accordance herewith), the Issuers agree to promptly reimburse the Initial Purchasers upon demand for all out-of-pocket expenses (including reasonable fees, disbursements
and charges of Gibson, Dunn & Crutcher LLP, counsel for the Initial Purchasers) that shall have been incurred by the Initial Purchasers in connection with the proposed purchase and sale of the Notes. 

Section 7.    Conditions of the Initial Purchasers’ Obligations. The obligation of the Initial Purchasers
to purchase and pay for the Notes shall, in their sole discretion, be subject to the satisfaction or waiver of the following conditions on or prior to the Closing Date: 

(a)    On the Closing Date, the Initial Purchasers shall have received the opinion, dated as of the Closing
Date and addressed to the Initial Purchasers, of Vinson & Elkins L.L.P., counsel for the Issuers, in form and substance satisfactory to counsel for the Initial Purchasers, to the effect that: 

(i)    Each of the Issuers and the Non-Excluded Guarantors has been
duly incorporated or formed, as the case may be, under the laws of its jurisdiction of incorporation or formation, as the case may be. 

(ii)    Each of the Issuers and the Covered Guarantors is validly existing as a limited partnership,
limited liability company or corporation, as applicable, and is in good standing under the laws of its jurisdiction of formation or incorporation, as applicable, and has all requisite limited partnership, limited liability company or corporate power
and authority, as applicable, necessary to own or lease its properties and to conduct its business, in each case as described in the Pricing Disclosure Package and the Final Memorandum in all material respects. 

(iii)    The Partnership has the authorized, issued and outstanding capitalization set forth in the Pricing
Disclosure Package and the Final Memorandum as of the dates specified therein; all of the issued and outstanding equity interests (other than general partner interests) of each of the Issuers and the
Non-Excluded Guarantors have been duly authorized and validly issued (in 

  
 21 

 
accordance with the Organizational Documents of each such entity), are fully paid (in the case of an interest in a limited partnership or limited liability company, to the extent required under
the Organizational Documents of such entity) and nonassessable (except as such nonassessability may be affected by Sections 17-607 and 17-804 of the Delaware LP Act,
Sections 18-607 and 18-804 of the Delaware LLC Act or Sections 153.102, 153.103, 153.202 and 153.210 of the TBOC, as applicable) and, to the knowledge of such counsel,
were not issued in violation of any preemptive or similar right; all of the issued and outstanding equity interests of Finance Co and each Non-Excluded Guarantor are owned, directly or indirectly, by the
Partnership, free and clear of all Liens (other than (i) those created by or arising under the Delaware General Corporation Law, the Delaware LLC Act or the Delaware LP Act, as the case may be; (ii) restrictions on transferability and
other Liens described in the Pricing Disclosure Package, the Final Memorandum or the Organizational Documents; (iii) those arising pursuant to or permitted under the Partnership Credit Agreement; and (iv) those imposed by the Act and the
securities or “Blue Sky” laws of certain jurisdictions) (A) in respect of which a financing statement under the Uniform Commercial Code of the State of Delaware naming the Partnership as debtor or, in the case of equity interests of a
Non-Excluded Guarantor owned directly by one or more other Non-Excluded Guarantors, naming any such other Non-Excluded Guarantors
as debtor(s), is on file as of a recent date in the office of the Secretary of State of the State of Delaware or (B) otherwise known to such counsel, without independent investigation. 

(iv)    The Issuers and each Covered Guarantor have all requisite corporate, limited partnership or limited
liability company power and authority, as applicable, to execute, deliver and perform each of their obligations under the Indenture, the Notes, the Exchange Notes and the Private Exchange Notes (each as defined in the Registration Rights
Agreements); the Indenture meets the requirements for qualification under the TIA; the Indenture has been duly and validly authorized by the Issuers and each Covered Guarantor and, when duly executed and delivered by the Issuers and each Covered
Guarantor (assuming the due authorization, execution and delivery thereof by the Trustee and SouthOk), will constitute the valid and legally binding agreement of the Issuers and each Guarantor, enforceable against the Issuers and each Guarantor in
accordance with its terms, except that the enforcement thereof may be subject to the Enforceability Exceptions. 

(v)    The Notes have each been duly and validly authorized by the Issuers and, when duly executed and
delivered by the Issuers and paid for by the Initial Purchasers in accordance with the terms of this Agreement (assuming the due authorization, execution and delivery of the Indenture by the Trustee and due authentication and delivery of the Notes
by the Trustee in accordance with the Indenture), will constitute the valid and legally binding obligations of the Issuers, entitled to the benefits of the Indenture, and enforceable against the Issuers in accordance with their terms, except that
the enforcement thereof may be subject to the Enforceability Exceptions. 

  
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 (vi)    The Guarantees have been duly and validly
authorized by the Covered Guarantors and when the Notes have been paid for by the Initial Purchasers in accordance with the terms of this Agreement (assuming the due authorization, execution and delivery of the Indenture by the Trustee and SouthOk
and the due authentication of the Notes by the Trustee in accordance with the Indenture), will constitute the valid and legally binding obligations of the Guarantors, entitled to the benefits of the Indenture, and enforceable against the Guarantors
in accordance with their terms, except that the enforcement thereof may be subject to the Enforceability Exceptions. 

(vii)    The Exchange Notes and the Private Exchange Notes have been duly and validly authorized by the
Issuers, and if and when the Exchange Notes and the Private Exchange Notes are duly executed and delivered by the Issuers in accordance with the terms of the Registration Rights Agreements and the Indenture (assuming the due authorization, execution
and delivery of the Indenture by the Trustee and due authentication and delivery of the Exchange Notes and the Private Exchange Notes by the Trustee in accordance with the Indenture), will constitute the valid and legally binding obligations of the
Issuers, entitled to the benefits of the Indenture, and enforceable against the Issuers in accordance with their terms, except that the enforcement thereof may be subject to the Enforceability Exceptions. 

(viii)    The Issuers and the Covered Guarantors have all requisite partnership, limited liability company
or corporate power and authority to execute, deliver and perform their obligations under the Registration Rights Agreements; the Registration Rights Agreements have been duly and validly authorized by the Issuers and the Covered Guarantors and, when
duly executed and delivered by the Issuers and the Covered Guarantors (assuming due authorization, execution and delivery thereof by the Initial Purchasers and SouthOk), will constitute the valid and legally binding agreement of the Issuers and the
Guarantors, enforceable against the Issuers and the Guarantors in accordance with their terms, except that (A) the enforcement thereof may be subject to the Enforceability Exceptions and (B) any rights to indemnity or contribution
thereunder may be limited by federal and state securities laws and public policy considerations. 

(ix)    The Issuers and the Covered Guarantors have all requisite corporate, partnership or limited
liability company power and authority, as applicable, to execute, deliver and perform their obligations under this Agreement and to consummate the transactions contemplated hereby; this Agreement and the consummation by the Issuers and the Covered
Guarantors of the transactions contemplated hereby have been duly and validly authorized by the Issuers and the Covered Guarantors. This Agreement has been duly executed and delivered by the Issuers and the Covered Guarantors. 

(x)    (a) The descriptions of the Indenture, the Notes and the Registration Rights Agreements contained in
the Pricing Disclosure Package and the Final 

  
 23 

 
Memorandum are accurate in all material respects, and (b) the statements under the caption “Certain United States Federal Income Tax Considerations” in the Pricing Disclosure
Package and the Final Memorandum insofar as they purport to constitute a summary of United States federal tax law and regulations or legal conclusions with respect thereto, constitute accurate summaries of the matters described therein in all
material respects, subject to the assumptions and qualifications set forth therein. 
 (xi)    The
execution, delivery and performance of this Agreement, the Indenture, the Registration Rights Agreements and the consummation of the transactions contemplated hereby and thereby (including, without limitation, the issuance and sale of the Notes to
the Initial Purchasers) will not constitute or result in a breach or a default under (or an event that with notice or passage of time or both would constitute a default under) any of (i) the terms or provisions of any Contract listed on
Annex B hereto, (ii) the Organizational Documents of any of the Issuers or the Covered Guarantors, or (iii) any statute, judgment, decree, order, rule or regulation (excluding any securities laws, rules or regulations) known to such
counsel to be applicable to the Issuers or any of the Covered Guarantors or any of their respective properties or assets, except, with respect to clauses (i) and (iii) only, for any such conflict, breach or violation that could not reasonably
be expected to, individually or in the aggregate, have a Material Adverse Effect. 
 (xii)    No consent,
approval, authorization or order of any governmental authority is required for the issuance and sale by the Issuers of the Notes to the Initial Purchasers or the consummation by the Issuers of the other transactions contemplated hereby, except such
as may be required under securities laws, as to which such counsel need express no opinion in this paragraph, and those which have previously been obtained. 

(xiii)    None of the Issuers or the Covered Guarantors is, or immediately after the sale of the Notes to
be sold hereunder and the application of the proceeds from such sale (as described in the Pricing Disclosure Package and the Final Memorandum under the caption “Use of Proceeds”) will be, an “investment company” as such term is
defined in the Investment Company Act of 1940, as amended. 
 (xiv)    No registration under the Act of
the Notes is required in connection with the sale of the Notes to the Initial Purchasers or in connection with the initial resale of the Notes by the Initial Purchasers, in each case, as contemplated by this Agreement and the Pricing Disclosure
Package and the Final Memorandum, and prior to the commencement of the Exchange Offer (as defined in the Registration Rights Agreements) or the effectiveness of the Shelf Registration Statement (as defined in the Registration Rights Agreements), the
Indenture is not required to be qualified under the TIA.

  
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 At the time the foregoing opinion is delivered, Vinson & Elkins L.L.P. shall
additionally state that it has participated in conferences with officers and other representatives of the Issuers, representatives of the independent registered public accountants for the Issuers, representatives of the Initial Purchasers and
counsel for the Initial Purchasers, at which conferences the contents of the Pricing Disclosure Package and the Final Memorandum and related matters were discussed, and, although it has not independently verified, and is not passing on and assumes
no responsibility for the accuracy, completeness or fairness of the statements contained in the Pricing Disclosure Package and the Final Memorandum (except to the extent specified in subsection 7(a)(x)), no facts have come to its attention
which lead it to believe that the Pricing Disclosure Package, as of the Time of Execution or at the Closing Date, or that the Final Memorandum, as of its date or at the Closing Date, contained an untrue statement of a material fact or omitted to
state a material fact necessary to make the statements contained therein, in light of the circumstances under which they were made, not misleading (it being understood that such firm need make no comment with respect to the financial statements and
related notes thereto and the other financial and accounting data derived from the Issuers’ books and records included in the Pricing Disclosure Package or the Final Memorandum). 

The opinion and advice of Vinson & Elkins L.L.P. described in this Section 7 shall be rendered to the Initial Purchasers at the
request of the Partnership and shall so state therein. 
 (b)    On the Closing Date, the Initial
Purchasers shall have received the opinion, in form and substance satisfactory to the Initial Purchasers, dated as of the Closing Date and addressed to the Initial Purchasers, of Gibson, Dunn & Crutcher LLP, counsel for the Initial
Purchasers, with respect to certain legal matters relating to this Agreement and such other related matters as the Initial Purchasers may reasonably require. In rendering such opinion, Gibson, Dunn & Crutcher LLP shall have received and may
rely upon such certificates and other documents and information as it may reasonably request to pass upon such matters. 

(c)    On the date hereof, the Initial Purchasers shall have received from the Independent Accountants a
comfort letter dated the date hereof, in form and substance satisfactory to counsel for the Initial Purchasers with respect to the audited and any unaudited financial information in the Pricing Disclosure Package. On the Closing Date, the Initial
Purchasers shall have received from the Independent Accountants a comfort letter dated the Closing Date, in form and substance satisfactory to counsel for the Initial Purchasers, which shall refer to the comfort letter dated the date hereof and
reaffirm or update as of a more recent date, the information stated in the comfort letter dated the date hereof and similarly address the audited and any unaudited financial information in the Final Memorandum. 

(d)    The representations and warranties of the Issuers and the Guarantors contained in this Agreement
shall be true and correct on and as of the Time of Execution and on and as of the Closing Date as if made on and as of the Closing Date; the statements of the Issuers’ officers made pursuant to any certificate delivered in accordance with the
provisions hereof shall be true and correct on and as of the date made and on and as of the Closing Date; the Issuers shall have performed all covenants and 

  
 25 

 
agreements and satisfied all conditions on their part to be performed or satisfied hereunder at or prior to the Closing Date; and, except as described in the Pricing Disclosure Package and the
Final Memorandum (exclusive of any amendment or supplement thereto after the date hereof), subsequent to the date of the most recent financial statements in such Pricing Disclosure Package and the Final Memorandum, there shall have been no event or
development, and no information shall have become known, that, individually or in the aggregate, has or would be reasonably likely to have a Material Adverse Effect. 

(e)    The sale of the Notes hereunder shall not be enjoined (temporarily or permanently) on the Closing
Date. 
 (f)    Subsequent to the date of the most recent financial statements in the Pricing Disclosure
Package and the Final Memorandum (exclusive of any amendment or supplement thereto after the date hereof), none of the Issuers nor any of the Material Subsidiaries shall have sustained any loss or interference with respect to its business or
properties from fire, flood, hurricane, accident or other calamity, whether or not covered by insurance, or from any strike, labor dispute, slow down or work stoppage or from any legal or governmental proceeding, order or decree, which loss or
interference, individually or in the aggregate, has or would be reasonably likely to have a Material Adverse Effect. 

(g)    The Initial Purchasers shall have received: 

(x)     a certificate, dated the Closing Date, signed by the Chief Executive Officer or Chief Financial
Officer of the General Partner, to the effect that: 
 (i)    the representations and warranties of the
Partnership and the Guarantors contained in this Agreement are true and correct on and as of the Time of Execution and on and as of the Closing Date, and the Partnership and the Guarantors have performed all covenants and agreements and satisfied
all conditions on their part to be performed or satisfied hereunder at or prior to the Closing Date; 

(ii)    at the Closing Date, since the date hereof or since the date of the most recent financial
statements in the Pricing Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto after the date hereof), no event or development has occurred, and no information has become known, that, individually or in the
aggregate, has or would be reasonably likely to have a Material Adverse Effect; and 
 (iii)    the sale
of the Notes hereunder has not been enjoined (temporarily or permanently); and 
 (y)     a certificate,
dated the Closing Date, signed by the Chief Executive Officer or the Chief Financial Officer of Finance Co, to the effect that: 

  
 26 

 (i)     the representations and warranties of Finance Co
contained in this Agreement are true and correct on and as of the Time of Execution and on and as of the Closing Date, and Finance Co has performed all covenants and agreements and satisfied all conditions on its part to be performed or satisfied
hereunder at or prior to the Closing Date; 
 (ii)    at the Closing Date, since the date hereof or since
the date of the most recent financial statements in the Pricing Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto after the date hereof), no event or development has occurred, and no information has become
known, that, individually or in the aggregate, has or would be reasonably likely to have a Material Adverse Effect; and 

(iii)    the sale of the Notes hereunder has not been enjoined (temporarily or permanently). 

(h)    On the Closing Date, the Initial Purchasers shall have received the Registration Rights Agreements
executed by the Issuers and the Guarantors and such agreement shall be in full force and effect. 
 On or before the Closing Date, the
Initial Purchasers and counsel for the Initial Purchasers shall have received such further documents, opinions, certificates, letters and schedules or instruments relating to the business, corporate, legal and financial affairs of the Issuers and
the Guarantors as they shall have heretofore reasonably requested from the Issuers. 
 All such documents, opinions, certificates, letters,
schedules or instruments delivered pursuant to this Agreement will comply with the provisions hereof only if they are reasonably satisfactory in all material respects to the Initial Purchasers and counsel for the Initial Purchasers. The Issuers
shall furnish to the Initial Purchasers such conformed copies of such documents, opinions, certificates, letters, schedules and instruments in such quantities as the Initial Purchasers shall reasonably request. 

Section 8.    Offering of Notes; Restrictions on Transfer. 

(a)    Each of the Initial Purchasers agrees with the Issuers (as to itself only) that (i) it has not and will not
solicit offers for, or offer or sell, the Notes by any form of general solicitation or general advertising (as those terms are used in Regulation D under the Act) or in any manner involving a public offering within the meaning of
Section 4(a)(2) of the Act; and (ii) it has and will solicit offers for the Notes only from, and will offer the Notes only to (A) in the case of offers inside the United States, persons whom the Initial Purchasers reasonably believe
to be qualified institutional buyers in transactions under Rule 144A (each, a “QIB”) and (B) in the case of offers outside the United States, to persons other than U.S. persons
(“non-U.S. purchasers,” which term shall include dealers or other professional fiduciaries in the United States acting on a discretionary basis for
non-U.S. beneficial owners (other than an estate or trust)); provided, however, that, in the case of this clause (B), in purchasing such Notes such persons are deemed to have represented and
agreed as provided under the caption “Transfer Restrictions” contained in the Pricing Disclosure Package and the Final Memorandum. 

  
 27 

 (b)    Each of the Initial Purchasers represents and warrants (as to
itself only) that (1) it is a QIB and (2) with respect to offers and sales outside the United States that (i) the Notes have not been and will not be offered or sold within the United States or to, or for the account or benefit of,
U.S. persons except in accordance with Regulation S under the Act or pursuant to an exemption from the registration requirements of the Act; and (ii) it has offered the Notes and will offer and sell the Notes (A) as part of its
distribution at any time and (B) otherwise until 40 days after the later of the commencement of the offering and the Closing Date, only in accordance with Rule 903 of Regulation S and, accordingly, neither it nor any persons acting on its
behalf have engaged or will engage in any directed selling efforts (within the meaning of Regulation S) with respect to the Notes, and any such persons have complied and will comply with the offering restrictions requirement of Regulation S. 

Terms used in this Section 8 and not defined in this Agreement have the meanings given to them in Regulation S. 

Section 9.    Indemnification and Contribution. 

(a)    The Issuers and the Guarantors, jointly and severally, agree to indemnify and hold harmless the Initial Purchasers,
their directors, officers, affiliates and each person, if any, who controls any Initial Purchaser within the meaning of Section 15 of the Act or Section 20 of the Exchange Act against any losses, claims, damages or liabilities to which any
Initial Purchaser, any such director, officer, affiliate or controlling person may become subject under the Act, the Exchange Act or otherwise, insofar as any such losses, claims, damages or liabilities (or actions in respect thereof) arise out of
or are based upon the following: 
 (i)    any untrue statement or alleged untrue statement of any
material fact contained in the Pricing Disclosure Package, any Issuer Written Communication or Final Memorandum or any amendment or supplement thereto; or 

(ii)    the omission or alleged omission to state, in the Pricing Disclosure Package, any Issuer Written
Communication or the Final Memorandum or any amendment or supplement thereto, a material fact necessary to make the statements therein not misleading; 

and will reimburse, as incurred, the Initial Purchasers, any such director, officer, affiliate and controlling person for any legal or other expenses
reasonably incurred by the Initial Purchasers, their directors, officers, affiliates or controlling persons in connection with investigating, defending against or appearing as a third-party witness in connection with any such loss, claim, damage,
liability or action; provided, however, neither the Issuers nor the Guarantors will be liable in any such case to the extent that any such loss, claim, damage, expense or liability arises out of or is based upon any untrue statement or
alleged untrue statement or omission or alleged omission made in the Pricing Disclosure Package or Final Memorandum or any amendment or supplement thereto in reliance upon and in conformity with written information concerning such Initial Purchaser
furnished to the Partnership by the Initial Purchasers through the Representative specifically for use therein. The indemnity provided for in this Section 9 will be in addition to any liability that the Partnership may otherwise have to the
indemnified parties. Neither the Issuers nor the Guarantors will be liable under this Section 9 for any settlement of any claim or action effected without its prior written consent, which shall not be unreasonably withheld. 

  
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 (b)    Each Initial Purchaser, severally and not jointly, agrees to
indemnify and hold harmless each of the Issuers and Guarantors, and their respective directors, officers and each person, if any, who controls the Issuers or Guarantors within the meaning of Section 15 of the Act or Section 20 of the
Exchange Act against any losses, claims, damages or liabilities to which the Issuers or Guarantors or any such director, officer or controlling person may become subject under the Act, the Exchange Act or otherwise, insofar as such losses, claims,
damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in the Pricing Disclosure Package or Final Memorandum or any amendment or
supplement thereto, or (ii) the omission or the alleged omission to state therein a material fact necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged
untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information concerning the Initial Purchasers, furnished to the Issuers and Guarantors by the Initial Purchasers through the Representative
specifically for use therein; and subject to the limitation set forth immediately preceding this clause, will reimburse, as incurred, any legal or other expenses reasonably incurred by the Issuers or Guarantors or any such director, officer or
controlling person in connection with investigating or defending against or appearing as a third party witness in connection with any such loss, claim, damage, liability or action in respect thereof. The indemnity provided for in this Section 9
will be in addition to any liability that the Initial Purchasers may otherwise have to the indemnified parties. The Initial Purchasers shall not be liable under this Section 9 for any settlement of any claim or action effected without their
consent, which shall not be unreasonably withheld. 
 (c)    Promptly after receipt by an indemnified party under this
Section 9 of notice of the commencement of any action for which such indemnified party is entitled to indemnification under this Section 9, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying
party under this Section 9, notify the indemnifying party of the commencement thereof in writing; but the omission to so notify the indemnifying party (i) will not relieve it from any liability under paragraph (a) or (b) above
unless and to the extent such failure results in the forfeiture by the indemnifying party of substantial rights and defenses and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other
than the indemnification obligation provided in paragraphs (a) and (b) above. In case any such action is brought against any indemnified party, and it notifies the indemnifying party of the commencement thereof, the indemnifying party will
be entitled to participate therein and, to the extent that it may wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party; provided,
however, that if (i) the use of counsel chosen by the indemnifying party to represent the indemnified party would present such counsel with a conflict of interest, (ii) the defendants in any such action include both the indemnified
party and the indemnifying party and the indemnified party shall have been advised by counsel that there may be one or more legal defenses available to it and/or other indemnified parties that are different from or additional to those available to
the indemnifying party, or (iii) the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after receipt by the indemnifying party of
notice of 

  
 29 

 
the institution of such action, then, in each such case, the indemnifying party shall not have the right to direct the defense of such action on behalf of such indemnified party or parties and
such indemnified party or parties shall have the right to select separate counsel to defend such action on behalf of such indemnified party or parties. After notice from the indemnifying party to such indemnified party of its election so to assume
the defense thereof and approval by such indemnified party of counsel appointed to defend such action, the indemnifying party will not be liable to such indemnified party under this Section 9 for any legal or other expenses, other than
reasonable costs of investigation, subsequently incurred by such indemnified party in connection with the defense thereof, unless (i) the indemnified party shall have employed separate counsel in accordance with the proviso to the immediately
preceding sentence (it being understood, however, that in connection with such action the indemnifying party shall not be liable for the expenses of more than one separate counsel (in addition to local counsel) in any one action or separate but
substantially similar actions in the same jurisdiction arising out of the same general allegations or circumstances, designated by the Initial Purchasers in the case of paragraph (a) of this Section 9 or the Issuers and Guarantors in the
case of paragraph (b) of this Section 9, representing the indemnified parties under such paragraph (a) or paragraph (b), as the case may be, who are parties to such action or actions) or (ii) the indemnifying party has
authorized in writing the employment of counsel for the indemnified party at the expense of the indemnifying party. All fees and expenses reimbursed pursuant to this paragraph (c) shall be reimbursed as they are incurred. After such notice from
the indemnifying party to such indemnified party, the indemnifying party will not be liable for the costs and expenses of any settlement of such action effected by such indemnified party without the prior written consent of the indemnifying party
(which consent shall not be unreasonably withheld), unless such indemnifying party waived in writing its rights under this Section 9, in which case the indemnified party may effect such a settlement without such consent. No indemnifying party
shall, without the prior written consent of the indemnified party, effect any settlement or compromise of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party, or indemnity could have been
sought hereunder by any indemnified party, unless such settlement (A) includes an unconditional written release of the indemnified party, in form and substance reasonably satisfactory to the indemnified party, from all liability on claims that
are the subject matter of such proceeding and (B) does not include any statement as to an admission of fault, culpability or failure to act by or on behalf of any indemnified party. 

(d)    In circumstances in which the indemnity agreement provided for in the preceding paragraphs of this Section 9
is unavailable to, or insufficient to hold harmless, an indemnified party in respect of any losses, claims, damages or liabilities (or actions in respect thereof), each indemnifying party, in order to provide for just and equitable contribution,
shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect (i) the relative benefits
received by the indemnifying party or parties on the one hand and the indemnified party on the other from the offering of the Notes or if the allocation provided by the foregoing clause (i) is not permitted by applicable law, not only such
relative benefits but also the relative fault of the indemnifying party or parties on the one hand and the indemnified party on the other in connection with the statements or omissions or alleged statements or omissions that resulted in such losses,
claims, damages or liabilities (or actions in respect thereof). The relative benefits received by the Issuers and Guarantors on the one hand and the Initial Purchasers on the other shall be deemed to be in the same proportion as the total

  
 30 

 proceeds from the offering (after deducting discounts and commissions but before deducting expenses)
received by the Issuers and Guarantors bear to the total discounts and commissions received by such Initial Purchaser. The relative fault of the parties shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Issuers and Guarantors on the one hand, or such Initial Purchaser on the other, the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission or alleged statement or omission, and any other equitable considerations appropriate in the circumstances. The Issuers, the Guarantors and the Initial
Purchasers agree that it would not be equitable if the amount of such contribution were determined by pro rata or per capita allocation or by any other method of allocation that does not take into account the equitable considerations referred to in
the first sentence of this paragraph (d). Notwithstanding any other provision of this paragraph (d), no Initial Purchaser shall be obligated to make contributions hereunder that in the aggregate exceed the total discounts, commissions and
other compensation received by such Initial Purchaser under this Agreement, less the aggregate amount of any damages that such Initial Purchaser has otherwise been required to pay by reason of the untrue or alleged untrue statements or the omissions
or alleged omissions to state a material fact, and no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. The obligations of the Initial Purchasers are several and not joint. For purposes of this paragraph (d), each director, officer and affiliate of the Initial Purchasers and each person, if any, who controls any Initial
Purchaser within the meaning of Section 15 of the Act or Section 20 of the Exchange Act shall have the same rights to contribution as the Initial Purchasers, and each director of either of the Issuers or any of the Guarantors, each officer
of either of the Issuers or any of the Guarantors and each person, if any, who controls either of the Issuers or any of the Guarantors within the meaning of Section 15 of the Act or Section 20 of the Exchange Act, shall have the same
rights to contribution as the Partnership. 
 Section 10.    Survival Clause. The respective
representations, warranties, agreements, covenants, indemnities and other statements of each of the Issuers, Guarantors, their respective officers and the Initial Purchasers set forth in this Agreement or made by or on behalf of them pursuant to
this Agreement shall remain in full force and effect, regardless of (i) any investigation made by or on behalf of any of the Issuers, Guarantors, any of their respective officers or directors, the Initial Purchasers, any of their officers,
directors, affiliates or controlling persons referred to in Section 9 hereof and (ii) delivery of and payment for the Notes. The respective agreements, covenants, indemnities and other statements set forth in Sections 6, 9, 10 and 15
hereof shall remain in full force and effect, regardless of any termination or cancellation of this Agreement. 

Section 11.    Termination. 

(a)    This Agreement may be terminated in the sole discretion of the Initial Purchasers by notice to the Issuers given
prior to the Closing Date in the event that the Issuers shall have failed, refused or been unable to perform all obligations and satisfy all conditions on its part to be performed or satisfied hereunder at or prior thereto or, if, after the date
hereof and at or prior to the Closing Date, 

  
 31 

 (i)    trading in securities of the Partnership or Targa
Resources Corp. shall have been suspended by the Commission or the New York Stock Exchange; 

(ii)    there shall have been, in the sole judgment of the Representative, any event or development that,
individually or in the aggregate, has or could be reasonably likely to have a Material Adverse Effect (including without limitation a change in control of the Issuers or the Guarantors), except in each case as described in the Pricing Disclosure
Package and the Final Memorandum (exclusive of any amendment or supplement thereto); 
 (iii)    trading
in securities generally on the New York Stock Exchange shall have been suspended or materially limited or minimum or maximum prices shall have been established on any such exchange or market; 

(iv)    a banking moratorium shall have been declared by New York or United States authorities or a
material disruption in commercial banking or securities settlement or clearance services in the United States shall have occurred; 

(v)    there shall have been (A) an outbreak or escalation of hostilities between the United States
and any foreign power or (B) an outbreak or escalation of any other insurrection or armed conflict involving the United States or any other national or international calamity or emergency, which in the case of (A) and (B) above and in the
sole judgment of the Representative, makes it impracticable or inadvisable to proceed with the offering or the delivery of the Notes as contemplated by the Pricing Disclosure Package and the Final Memorandum; or 

(vi)    any securities of the Partnership shall have been downgraded by any nationally recognized
statistical rating organization or any such organization shall have publicly announced that it has under surveillance or review, or has changed its outlook with respect to, its ratings of any securities of the Partnership (other than an announcement
with positive implications of a possible upgrading). 
 (b)    Termination of this Agreement pursuant to this
Section 11 shall be without liability of any party to any other party except as provided in Section 10 hereof. 

Section 12.    Default of One or More of the Several Initial Purchasers. 

(a)    If any one or more of the several 2027 Initial Purchasers shall fail or refuse to purchase the 2027 Notes that it or
they have agreed to purchase hereunder on the Closing Date, and the aggregate number of the 2027 Notes which such defaulting 2027 Initial Purchaser or 2027 Initial Purchasers agreed but failed or refused to purchase does not exceed 10% of the
aggregate number of the 2027 Notes to be purchased on such date, the other 2027 Initial Purchasers shall be obligated, severally, in the proportions that the number of 2027 Notes set forth opposite their respective names on Schedule 1A
bears to the aggregate number of the 2027 Notes set forth opposite the names of all such non-defaulting 2027 Initial Purchasers, or in such other proportions as may be specified by the 2027 Initial Purchasers
with the consent of the non- 

  
 32 

 defaulting 2027 Initial Purchasers, to purchase the 2027 Notes which such defaulting 2027 Initial Purchaser
or 2027 Initial Purchasers agreed but failed or refused to purchase on the Closing Date. If any one or more of the 2027 Initial Purchasers shall fail or refuse to purchase the 2027 Notes and the aggregate number of the 2027 Notes with respect to
which such default occurs exceeds 10% of the aggregate number of the 2027 Notes to be purchased on the Closing Date, and arrangements satisfactory to the 2027 Initial Purchasers and the Issuers for the purchase of such 2027 Notes are not made within
48 hours after such default, this Agreement shall terminate without liability of any party to any other party except that the provisions of Sections 6 and 9 hereof shall at all times be effective and shall survive such termination. In any such
case either the 2027 Initial Purchasers or the Issuers shall have the right to postpone the Closing Date, as the case may be, but in no event for longer than seven days in order that the required changes, if any, to the Final Offering Memorandum or
any other documents or arrangements may be effected. 
 (b)    If any one or more of the several 2029 Initial Purchasers
shall fail or refuse to purchase the 2029 Notes that it or they have agreed to purchase hereunder on the Closing Date, and the aggregate number of the 2029 Notes which such defaulting 2029 Initial Purchaser or 2029 Initial Purchasers agreed but
failed or refused to purchase does not exceed 10% of the aggregate number of the 2029 Notes to be purchased on such date, the other 2029 Initial Purchasers shall be obligated, severally, in the proportions that the number of 2029 Notes set forth
opposite their respective names on Schedule 1B bears to the aggregate number of the 2029 Notes set forth opposite the names of all such non-defaulting 2029 Initial Purchasers, or in such other
proportions as may be specified by the 2029 Initial Purchasers with the consent of the non-defaulting 2029 Initial Purchasers, to purchase the 2029 Notes which such defaulting 2029 Initial Purchaser or 2029 Initial Purchasers agreed but failed or
refused to purchase on the Closing Date. If any one or more of the 2029 Initial Purchasers shall fail or refuse to purchase the 2029 Notes and the aggregate number of the 2029 Notes with respect to which such default occurs exceeds 10% of the
aggregate number of the 2029 Notes to be purchased on the Closing Date, and arrangements satisfactory to the 2029 Initial Purchasers and the Issuers for the purchase of such 2029 Notes are not made within 48 hours after such default, this Agreement
shall terminate without liability of any party to any other party except that the provisions of Sections 6 and 9 hereof shall at all times be effective and shall survive such termination. In any such case either the 2029 Initial Purchasers or
the Issuers shall have the right to postpone the Closing Date, as the case may be, but in no event for longer than seven days in order that the required changes, if any, to the Final Offering Memorandum or any other documents or arrangements may be
effected. 
 (c)    As used in this Agreement, the term “Initial Purchaser” shall be deemed to include
any person substituted for a defaulting Initial Purchaser under this Section 12. Any action taken under this Section 12 shall not relieve any defaulting Initial Purchaser from liability in respect of any default of such Initial Purchaser
under this Agreement. 
 Section 13.    Information Supplied by the Initial Purchasers. The statements set
forth in the last paragraph on the front cover page (as such paragraph is supplemented by the item on Annex A) and in the fourth paragraph and the tenth through twelfth paragraphs under the heading “Plan of Distribution” in the
Preliminary Memorandum and the Final Memorandum (to the extent such statements relate to the Initial Purchaser) constitute the only information furnished by the Initial Purchasers to the Issuers for the purposes of Sections 2(a) and 9 hereof.

  
 33 

 Section 14.    Notices. All communications hereunder shall
be in writing and, if sent to the Initial Purchasers, shall be mailed or delivered to Merrill Lynch, Pierce, Fenner & Smith Incorporated at One Bryant Park, New York, New York 10036, Attention: High Yield Legal Department, Facsimile: (212) 901-7897; and if sent to the Partnership, shall be mailed or delivered to the Partnership at 811 Louisiana Street, Suite 2100, Houston, Texas 77002, Attention: Chief Financial Officer; with a copy to
Vinson & Elkins L.L.P., 1001 Fannin Street, Suite 2500, Houston, Texas 77002, Attention: Thomas G. Zentner. 
 All such notices and
communications shall be deemed to have been duly given: when delivered by hand, if personally delivered; five business days after being deposited in the mail, postage prepaid, if mailed; and one business day after being timely delivered to a next-day air courier. 
 Section 15.    Successors. This Agreement shall
inure to the benefit of and be binding upon the Initial Purchasers, the Issuers and their respective successors and legal representatives, and nothing expressed or mentioned in this Agreement is intended or shall be construed to give any other
person any legal or equitable right, remedy or claim under or in respect of this Agreement, or any provisions herein contained; this Agreement and all conditions and provisions hereof being intended to be and being for the sole and exclusive benefit
of such persons and for the benefit of no other person except that (i) the indemnities of the Issuers contained in Section 9 of this Agreement shall also be for the benefit of the directors, officers and employees of the Initial Purchasers
and any person or persons who control the Initial Purchasers within the meaning of Section 15 of the Act or Section 20 of the Exchange Act and (ii) the indemnities of the Initial Purchasers contained in Section 9 of this
Agreement shall also be for the benefit of the directors of the Issuers, their officers and any person or persons who control the Issuers within the meaning of Section 15 of the Act or Section 20 of the Exchange Act. No purchaser of Notes
from the Initial Purchasers will be deemed a successor because of such purchase. 
 Section 16.    APPLICABLE
LAW. THE VALIDITY AND INTERPRETATION OF THIS AGREEMENT, ANY CLAIM, COUNTERCLAIM OR DISPUTE OF ANY KIND OR NATURE WHATSOEVER ARISING OUT OF OR IN ANY WAY RELATING TO THIS AGREEMENT, DIRECTLY OR INDIRECTLY, AND THE TERMS AND CONDITIONS SET FORTH
HEREIN SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED WHOLLY THEREIN, WITHOUT GIVING EFFECT TO ANY PROVISIONS THEREOF RELATING TO CONFLICTS OF LAW. 

Section 17.    No Advisory or Fiduciary Responsibility. The Issuers and the Guarantors acknowledge and agree
that (i) the purchase and sale of the Notes pursuant to this Agreement is an arm’s-length commercial transaction between the Issuers, on the one hand, and the Initial Purchasers, on the other,
(ii) in connection therewith and with the process leading to such transaction each Initial Purchaser is acting solely as a principal and not the agent or fiduciary of either of the Issuers, (iii) no Initial Purchaser has assumed an
advisory or fiduciary responsibility in favor of either of the Issuers with respect to the offering contemplated hereby or the process leading thereto (irrespective of whether such Initial Purchaser has advised or is

  
 34 

 
currently advising either of the Issuers on other matters) or any other obligation to the Issuers except the obligations expressly set forth in this Agreement and (iv) each of the Issuers
has consulted its own legal and financial advisors to the extent it deemed appropriate. Each of the Issuers agrees that it will not claim that any Initial Purchaser has rendered advisory services of any nature or respect, or owes a fiduciary or
similar duty to either of the Issuers, in connection with such transaction or the process leading thereto. 

Section 18.    USA PATRIOT Act. In accordance with the requirements of the USA PATRIOT Act (Title III of Pub.
L. 107-56 (signed into law October 26, 2001)), the Initial Purchasers are required to obtain, verify and record information that identifies their respective clients, including the Issuers, which
information may include the name and address of their respective clients, as well as other information that will allow the Initial Purchasers to properly identify their respective clients. 

Section 19.    Recognition of the U.S. Special Resolution Regimes. 

(a)    In the event that any Initial Purchaser that is a Covered Entity becomes subject to a proceeding under a U.S.
Special Resolution Regime, the transfer from such Initial Purchaser of this Agreement, and any interest and obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective under the U.S. Special
Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of the United States. 

(b)    In the event that any Initial Purchaser that is a Covered Entity or a BHC Act Affiliate of such Initial Purchaser
becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Initial Purchaser are permitted to be exercised to no greater extent than such Default Rights could be
exercised under the U.S. Special Resolution Regime if this Agreement were governed by the laws of the United States or a state of the United States. 
 For
purposes of this Section 19: (a) “BHC Act Affiliate” has the meaning assigned to the term “affiliate” in, and shall be interpreted in accordance with, 12 U.S.C. § 1841(k); (b) “Covered Entity”
means any of the following: (i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted in accordance
with, 12 C.F.R. § 47.3(b); or (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b); (c) “Default Right” has the meaning assigned to that term in, and
shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable; and (d) “U.S. Special Resolution Regime” means each of (i) the Federal Deposit Insurance Act and the regulations promulgated
thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder. 

Section 20.    Counterparts. This Agreement may be executed in two or more counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the same instrument. 

  
 35 

 If the foregoing correctly sets forth our understanding, please indicate your acceptance
thereof in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement between the Issuers and the Initial Purchasers. 

 

			
	 Very truly yours,
  

	TARGA RESOURCES PARTNERS LP
		
	By:	 	Targa Resources GP LLC,
		 	Its general partner
		
	By:	 	 /s/ Chris M. McEwan

	Name:	 	Chris M. McEwan
	Title:	 	 Vice President and Treasurer
  

	TARGA RESOURCES PARTNERS FINANCE CORPORATION
		
	By:	 	 /s/ Chris M. McEwan

	Name:	 	Chris M. McEwan
	Title:	 	Vice President and Treasurer

  
 Signature Page to
the Purchase Agreement 

					
		 	FCPP PIPELINE, LLC
		 	FLAG CITY PROCESSING PARTNERS, LLC
		 	SLIDER WESTOK GATHERING, LLC
		 	TARGA BADLANDS LLC
		 	TARGA CAPITAL LLC
		 	TARGA CHANEY DELL LLC
		 	TARGA CHANNELVIEW LLC
		 	TARGA COGEN LLC
		 	TARGA CRUDE MARKETING LLC
		 	TARGA CRUDE PIPELINE LLC
		 	TARGA DELAWARE LLC
		 	TARGA DOWNSTREAM LLC
		 	TARGA GAS MARKETING LLC
		 	TARGA GAS PIPELINE LLC
		 	TARGA GAS PROCESSING LLC
		 	TARGA INTRASTATE PIPELINE LLC
		 	TARGA LIQUIDS MARKETING AND TRADE LLC
		 	TARGA LOUISIANA INTRASTATE LLC
		 	TARGA MIDKIFF LLC
		 	TARGA MIDLAND LLC
		 	TARGA MIDSTREAM SERVICES LLC
		 	TARGA MLP CAPITAL LLC
		 	TARGA NGL PIPELINE COMPANY LLC
		 	TARGA PIPELINE MID-CONTINENT HOLDINGS LLC
		 	TARGA PIPELINE MID-CONTINENT LLC
		 	TARGA PIPELINE PARTNERS GP LLC
		 	TARGA RESOURCES OPERATING GP LLC
		 	TARGA RESOURCES OPERATING LLC
		 	TARGA SOUTHERN DELAWARE LLC
		 	TARGA SOUTHOK NGL PIPELINE LLC
		 	TARGA TRANSPORT LLC
		 	TPL ARKOMA HOLDINGS LLC
		 	TPL ARKOMA INC.
		 	TPL ARKOMA MIDSTREAM LLC
		 	TPL GAS TREATING LLC
		 	TPL SOUTHTEX MIDSTREAM LLC
		 	TPL SOUTHTEX PIPELINE COMPANY LLC
		 	VELMA INTRASTATE GAS TRANSMISSION COMPANY, LLC
		 	VERSADO GAS PROCESSORS, L.L.C.

  

			
	By:	 	 /s/ Chris M. McEwan

	Name:	 	Chris M. McEwan
	Title:	 	Vice President and Treasurer

  
 Signature Page to
the Purchase Agreement 

 
					
	TARGA PIPELINE OPERATING PARTNERSHIP LP
	TARGA PIPELINE PARTNERS LP
		
	By:	 	Targa Pipeline Partners GP LLC, its general partner
			
		 	By:	 	 /s/ Chris M. McEwan

		 	Name:	 	Chris M. McEwan
		 	Title:	 	Vice President and Treasurer
	
	TPL BARNETT LLC
		
	By:	 	Targa Pipeline Mid-Continent Holdings LLC, its sole member
			
		 	By:	 	 /s/ Chris M. McEwan

		 	Name:	 	Chris M. McEwan
		 	Title:	 	Vice President and Treasurer
	
	PECOS PIPELINE LLC
	TESUQUE PIPELINE, LLC
		
	By:	 	TPL Barnett LLC, its sole member
		
	By:	 	Targa Pipeline Mid-Continent Holdings LLC, its sole member
			
		 	By:	 	 /s/ Chris M. McEwan

		 	Name:	 	Chris M. McEwan
		 	Title:	 	Vice President and Treasurer

  
 Signature Page to
the Purchase Agreement 

 
					
	VELMA GAS PROCESSING COMPANY, LLC
		
	By:	 	Targa Pipeline Mid-Continent LLC, its sole member
			
		 	By:	 	 /s/ Chris M. McEwan

		 	Name:	 	Chris M. McEwan
		 	Title:	 	Vice President and Treasurer
	
	TARGA SOUTHTEX MIDSTREAM COMPANY LP
	TPL SOUTHTEX GAS UTILITY COMPANY LP
	TPL SOUTHTEX MIDSTREAM HOLDING COMPANY LP
	TPL SOUTHTEX PROCESSING COMPANY LP
	TPL SOUTHTEX TRANSMISSION COMPANY LP
		
	By:	 	TPL SouthTex Pipeline Company LLC, its general partner
			
		 	By:	 	 /s/ Chris M. McEwan

		 	Name:	 	Chris M. McEwan
		 	Title:	 	Vice President and Treasurer

  
 Signature Page to
the Purchase Agreement 

					
	The foregoing Agreement is hereby confirmed and accepted as of the date first above written.
	
	 MERRILL LYNCH, PIERCE, FENNER & SMITH

                          
    INCORPORATED

	
	Acting on behalf of itself and as the Representative of the several Initial Purchasers
		
	By:	 	 Merrill Lynch, Pierce, Fenner & Smith

                     
Incorporated

					
			
		 	By:	 	 /s/ Carla Ruiz-Ney

		 	Name:	 	Carla Ruiz-Ney
		 	Title:	 	Director

  
 Signature Page to
the Purchase Agreement 

 SCHEDULE 1A 
  

					
	 Initial Purchasers
	  	Principal Amount of the 2027 Notes	 
	 Merrill Lynch, Pierce, Fenner & Smith

                   
  Incorporated
	  	$	150,000,000	 
	 Jefferies LLC
	  	$	75,000,000	 
	 Wells Fargo Securities, LLC
	  	$	75,000,000	 
	 Capital One Securities, Inc.
	  	$	67,500,000	 
	 Goldman Sachs & Co. LLC
	  	$	67,500,000	 
	 TD Securities (USA) LLC
	  	$	67,500,000	 
	 ABN AMRO Securities (USA) LLC
	  	$	30,000,000	 
	 BBVA Securities Inc.
	  	$	30,000,000	 
	 ING Financial Markets LLC
	  	$	30,000,000	 
	 MUFG Securities Americas Inc.
	  	$	30,000,000	 
	 Scotia Capital (USA) Inc.
	  	$	30,000,000	 
	 SMBC Nikko Securities America, Inc.
	  	$	30,000,000	 
	 BB&T Capital Markets, a division of BB&T Securities
	  	$	11,250,000	 
	 BMO Capital Markets Corp.
	  	$	11,250,000	 
	 CIBC World Markets Corp.
	  	$	11,250,000	 
	 Citizens Capital Markets, Inc.
	  	$	11,250,000	 
	 Fifth Third Securities, Inc.
	  	$	11,250,000	 
	 U.S. Bancorp Investments, Inc.
	  	$	11,250,000	 
		  	  
	  
	 
	 Total
	  	$	750,000,000	 
		  	  
	  
	 

  
 Schedule 1A-1 

 SCHEDULE 1B 
  

					
	 Initial Purchasers
	  	Principal Amount of the 2029 Notes	 
	 Merrill Lynch, Pierce, Fenner & Smith

                   
  Incorporated
	  	$	150,000,000	 
	 Jefferies LLC
	  	$	75,000,000	 
	 Wells Fargo Securities, LLC
	  	$	75,000,000	 
	 Capital One Securities, Inc.
	  	$	67,500,000	 
	 Goldman Sachs & Co. LLC
	  	$	67,500,000	 
	 TD Securities (USA) LLC
	  	$	67,500,000	 
	 ABN AMRO Securities (USA) LLC
	  	$	30,000,000	 
	 BBVA Securities Inc.
	  	$	30,000,000	 
	 ING Financial Markets LLC
	  	$	30,000,000	 
	 MUFG Securities Americas Inc.
	  	$	30,000,000	 
	 Scotia Capital (USA) Inc.
	  	$	30,000,000	 
	 SMBC Nikko Securities America, Inc.
	  	$	30,000,000	 
	 BB&T Capital Markets, a division of BB&T Securities
	  	$	11,250,000	 
	 BMO Capital Markets Corp.
	  	$	11,250,000	 
	 CIBC World Markets Corp.
	  	$	11,250,000	 
	 Citizens Capital Markets, Inc.
	  	$	11,250,000	 
	 Fifth Third Securities, Inc.
	  	$	11,250,000	 
	 U.S. Bancorp Investments, Inc.
	  	$	11,250,000	 
		  	  
	  
	 
	 Total
	  	$	750,000,000	 
		  	  
	  
	 

  
 Schedule 1B-1 

 SCHEDULE 2 

Jurisdiction of Formation for the Partnership and General Partner 

 

			
	 Name
	  	 Jurisdiction of Organization

	Targa Resources Partners LP	  	Delaware
	Targa Resources GP LLC	  	Delaware

 Subsidiaries of the Partnership 

 

			
	 Name
	  	 Jurisdiction of Organization

	Cedar Bayou Fractionators, L.P.	  	Delaware
	Centrahoma Processing, LLC	  	Delaware
	DEVCO Holdings LLC	  	Delaware
	Downstream Energy Ventures Co., L.L.C.	  	Delaware
	FCPP Pipeline, LLC	  	Delaware
	Flag City Processing Partners, LLC	  	Delaware
	Floridian Natural Gas Storage Company, LLC	  	Delaware
	Grand Prix Pipeline LLC	  	Delaware
	Pecos Pipeline LLC	  	Delaware
	Sajet Development LLC	  	Delaware
	Sajet Properties LLC	  	Delaware
	Sajet Resources LLC	  	Delaware
	Salta Properties LLC	  	Delaware
	Setting Sun Pipeline Corporation	  	Delaware
	Slider WestOk Gathering, LLC	  	Delaware
	T2 LaSalle Gas Utility LLC	  	Texas
	T2 LaSalle Gathering Company LLC	  	Delaware
	Targa Badlands LLC	  	Delaware
	Targa Canada Liquids Inc.	  	British Columbia, Canada
	Targa Capital LLC	  	Delaware
	Targa Chaney Dell LLC	  	Delaware
	Targa Channelview LLC	  	Delaware
	Targa Cogen LLC	  	Delaware
	Targa Crude Marketing LLC	  	Delaware
	Targa Crude Pipeline LLC	  	Delaware
	Targa Delaware LLC	  	Delaware
	Targa Downstream LLC	  	Delaware
	Targa Gas Marketing LLC	  	Delaware
	Targa Gas Pipeline LLC	  	Delaware
	Targa Gas Processing LLC	  	Delaware
	Targa Holding LLC	  	Delaware
	Targa Intrastate Pipeline LLC	  	Delaware
	Targa Liquids Marketing and Trade LLC	  	Delaware
	Targa Louisiana Intrastate LLC	  	Delaware

  
 Schedule 2-1 

			
	Targa Midkiff LLC	  	Delaware
	Targa Midland Gas Pipeline LLC	  	Delaware
	Targa Midland LLC	  	Delaware
	Targa Midstream Services LLC	  	Delaware
	Targa MLP Capital LLC	  	Delaware
	Targa NGL Pipeline Company LLC	  	Delaware
	Targa Pipeline Escrow LLC	  	Delaware
	Targa Pipeline Finance Corporation	  	Delaware
	Targa Pipeline Mid-Continent Holdings LLC	  	Delaware
	Targa Pipeline Mid-Continent LLC	  	Delaware
	Targa Pipeline Mid-Continent WestOk LLC	  	Delaware
	Targa Pipeline Mid-Continent WestTex LLC	  	Delaware
	Targa Pipeline Operating Partnership LP	  	Delaware
	Targa Pipeline Partners GP LLC	  	Delaware
	Targa Pipeline Partners LP	  	Delaware
	Targa Receivables LLC	  	Delaware
	Targa Resources Operating GP LLC	  	Delaware
	Targa Resources Operating LLC	  	Delaware
	Targa Resources Partners Finance Corporation	  	Delaware
	Targa Southern Delaware LLC	  	Delaware
	Targa SouthOk NGL Pipeline LLC	  	Oklahoma
	Targa SouthTex Midstream Company LP	  	Texas
	Targa Train 6 LLC	  	Delaware
	Targa Train 7 LLC	  	Delaware
	Targa Train 8 LLC	  	Delaware
	Targa Transport LLC	  	Delaware
	Tesla Resources LLC	  	Delaware
	Tesuque Pipeline, LLC	  	Delaware
	TPL Arkoma Holdings LLC	  	Delaware
	TPL Arkoma Inc.	  	Delaware
	TPL Arkoma Midstream LLC	  	Delaware
	TPL Barnett LLC	  	Delaware
	TPL Gas Treating LLC	  	Delaware
	TPL SouthTex Gas Utility Company LP	  	Texas
	TPL SouthTex Midstream Holding Company LP	  	Texas
	TPL SouthTex Midstream LLC	  	Delaware
	TPL SouthTex Pipeline Company LLC	  	Texas
	TPL SouthTex Processing Company LP	  	Texas
	TPL SouthTex Transmission Company LP	  	Texas
	Velma Gas Processing Company, LLC	  	Delaware
	Velma Intrastate Gas Transmission Company, LLC	  	Delaware
	Venice Energy Services Company, L.L.C.	  	Delaware
	Versado Gas Processors, L.L.C.	  	Delaware
	Whistler Pipeline LLC	  	Delaware

  
 Schedule 2-2 

 SCHEDULE 3 

Non-Guarantor Subsidiaries 

 

			
	 Name
	  	 Jurisdiction of Organization

	Cedar Bayou Fractionators, L.P.	  	Delaware
	Centrahoma Processing, LLC	  	Delaware
	DEVCO Holdings LLC	  	Delaware
	Downstream Energy Ventures Co., L.L.C.	  	Delaware
	Floridian Natural Gas Storage Company, LLC	  	Delaware
	Grand Prix Pipeline LLC	  	Delaware
	Sajet Development LLC	  	Delaware
	Sajet Properties LLC	  	Delaware
	Sajet Resources LLC	  	Delaware
	Salta Properties LLC	  	Delaware
	Setting Sun Pipeline Corporation	  	Delaware
	T2 LaSalle Gas Utility LLC	  	Texas
	T2 LaSalle Gathering Company LLC	  	Delaware
	Targa Canada Liquids Inc.	  	British Columbia, Canada
	Targa Holding LLC	  	Delaware
	Targa Midland Gas Pipeline LLC	  	Delaware
	Targa Pipeline Escrow LLC	  	Delaware
	Targa Pipeline Finance Corporation	  	Delaware
	Targa Pipeline Mid-Continent WestOk LLC	  	Delaware
	Targa Pipeline Mid-Continent WestTex LLC	  	Delaware
	Targa Receivables LLC	  	Delaware
	Targa Resources Partners Finance Corporation	  	Delaware
	Targa Train 6 LLC	  	Delaware
	Targa Train 7 LLC	  	Delaware
	Targa Train 8 LLC	  	Delaware
	Tesla Resources LLC	  	Delaware
	Venice Energy Services Company, L.L.C.	  	Delaware
	Versado Gas Processors, L.L.C.	  	Delaware
	Whistler Pipeline LLC	  	Delaware

  
 Schedule 3-1 

 SCHEDULE 4 

Guarantors 
  

			
	 Name
	  	 Jurisdiction of Organization

	FCPP Pipeline, LLC	  	Delaware
	Flag City Processing Partners, LLC	  	Delaware
	Pecos Pipeline LLC	  	Delaware
	Slider WestOk Gathering, LLC	  	Delaware
	Targa Badlands LLC	  	Delaware
	Targa Capital LLC	  	Delaware
	Targa Chaney Dell LLC	  	Delaware
	Targa Channelview LLC	  	Delaware
	Targa Cogen LLC	  	Delaware
	Targa Crude Marketing LLC	  	Delaware
	Targa Crude Pipeline LLC	  	Delaware
	Targa Delaware LLC	  	Delaware
	Targa Downstream LLC	  	Delaware
	Targa Gas Marketing LLC	  	Delaware
	Targa Gas Pipeline LLC	  	Delaware
	Targa Gas Processing LLC	  	Delaware
	Targa Intrastate Pipeline LLC	  	Delaware
	Targa Liquids Marketing and Trade LLC	  	Delaware
	Targa Louisiana Intrastate LLC	  	Delaware
	Targa Midkiff LLC	  	Delaware
	Targa Midland LLC	  	Delaware
	Targa Midstream Services LLC	  	Delaware
	Targa MLP Capital LLC	  	Delaware
	Targa NGL Pipeline Company LLC	  	Delaware
	Targa Pipeline Mid-Continent Holdings LLC	  	Delaware
	Targa Pipeline Mid-Continent LLC	  	Delaware
	Targa Pipeline Operating Partnership LP	  	Delaware
	Targa Pipeline Partners GP LLC	  	Delaware
	Targa Pipeline Partners LP	  	Delaware
	Targa Resources Operating GP LLC	  	Delaware
	Targa Resources Operating LLC	  	Delaware
	Targa Southern Delaware LLC	  	Delaware
	Targa SouthOk NGL Pipeline LLC	  	Oklahoma
	Targa SouthTex Midstream Company LP	  	Texas
	Targa Transport LLC	  	Delaware
	Tesuque Pipeline, LLC	  	Delaware
	TPL Arkoma Holdings LLC	  	Delaware
	TPL Arkoma Inc.	  	Delaware
	TPL Arkoma Midstream LLC	  	Delaware
	TPL Barnett LLC	  	Delaware

  
 Schedule 4-1 

			
	TPL Gas Treating LLC	  	Delaware
	TPL SouthTex Gas Utility Company LP	  	Texas
	TPL SouthTex Midstream Holding Company LP	  	Texas
	TPL SouthTex Midstream LLC	  	Delaware
	TPL SouthTex Pipeline Company LLC	  	Texas
	TPL SouthTex Processing Company LP	  	Texas
	TPL SouthTex Transmission Company LP	  	Texas
	Velma Gas Processing Company, LLC	  	Delaware
	Velma Intrastate Gas Transmission Company, LLC	  	Delaware
	Versado Gas Processors, L.L.C.	  	Delaware

  
 Schedule 4-2 

 SCHEDULE 5 

Material Subsidiaries 

(Certain entities are also listed on Schedule 4) 
  

			
	 Name
	  	 Jurisdiction of Organization

	Cedar Bayou Fractionators, L.P.	  	Delaware
	Targa Badlands LLC	  	Delaware
	Targa Chaney Dell LLC	  	Delaware
	Targa Delaware LLC	  	Delaware
	Targa Downstream LLC	  	Delaware
	Targa Liquids Marketing and Trade LLC	  	Delaware
	Targa Midkiff LLC	  	Delaware
	Targa Midland LLC	  	Delaware
	Targa Midstream Services LLC	  	Delaware
	Targa Pipeline Mid-Continent WestOk LLC	  	Delaware
	Targa Pipeline Mid-Continent WestTex LLC	  	Delaware
	Targa Receivables LLC	  	Delaware
	Targa Southern Delaware LLC	  	Delaware
	Targa Transport LLC	  	Delaware
	Venice Energy Services Company, L.L.C.	  	Delaware
	Versado Gas Processors, L.L.C.	  	Delaware

  
 Schedule 5-1 

 SCHEDULE 6 

Excluded Guarantors 
  

			
	 Name
	  	 Jurisdiction of Organization

	FCPP Pipeline, LLC	  	Delaware
	Flag City Processing Partners, LLC	  	Delaware
	Pecos Pipeline LLC	  	Delaware
	Slider WestOk Gathering, LLC	  	Delaware
	Targa Chaney Dell LLC	  	Delaware
	Targa Channelview LLC	  	Delaware
	Targa Crude Marketing LLC	  	Delaware
	Targa Crude Pipeline LLC	  	Delaware
	Targa Delaware LLC	  	Delaware
	Targa Midkiff LLC	  	Delaware
	Targa Midland LLC	  	Delaware
	Targa Pipeline Mid-Continent Holdings LLC	  	Delaware
	Targa Pipeline Mid-Continent LLC	  	Delaware
	Targa Pipeline Operating Partnership LP	  	Delaware
	Targa Pipeline Partners GP LLC	  	Delaware
	Targa Pipeline Partners LP	  	Delaware
	Targa Southern Delaware LLC	  	Delaware
	Targa SouthOk NGL Pipeline LLC	  	Oklahoma
	Targa SouthTex Midstream Company LP	  	Texas
	Tesuque Pipeline, LLC	  	Delaware
	TPL Arkoma Holdings LLC	  	Delaware
	TPL Arkoma Inc.	  	Delaware
	TPL Arkoma Midstream LLC	  	Delaware
	TPL Barnett LLC	  	Delaware
	TPL Gas Treating LLC	  	Delaware
	TPL SouthTex Gas Utility Company LP	  	Texas
	TPL SouthTex Midstream Holding Company LP	  	Texas
	TPL SouthTex Midstream LLC	  	Delaware
	TPL SouthTex Pipeline Company LLC	  	Texas
	TPL SouthTex Processing Company LP	  	Texas
	TPL SouthTex Transmission Company LP	  	Texas
	Velma Gas Processing Company, LLC	  	Delaware
	Velma Intrastate Gas Transmission Company, LLC	  	Delaware

  
 Schedule 6-1 

 ANNEX A 

US $1,500,000,000 
  

 
 TARGA RESOURCES PARTNERS LP 

TARGA RESOURCES PARTNERS FINANCE CORPORATION 

6.500% Senior Notes due 2027 

6.875% Senior Notes due 2029 

January 10, 2019 
  

 
 This Pricing Supplement is qualified in its
entirety by reference to the Preliminary Offering Memorandum dated January 10, 2019. The information in this Pricing Supplement supplements the Preliminary Offering Memorandum and supersedes the information in the Preliminary Offering
Memorandum to the extent inconsistent with the information in the Preliminary Offering Memorandum. Capitalized terms used but not defined in this Pricing Supplement have the respective meanings ascribed to them in the Preliminary Offering
Memorandum. 
 The notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and are being
offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act.
The notes are not transferable except in accordance with the restrictions described under “Transfer Restrictions” in the Preliminary Offering Memorandum. 
  

					
	Terms Applicable to the 6.500% Senior Notes due 2027
		
	 Issuers:
	  	 Targa Resources Partners LP

Targa Resources Partners Finance Corporation

		
	 Principal Amount:
	  	$750,000,000
		
	 Title of Securities:
	  	6.500% Senior Notes due 2027 (the “2027 Notes”)
		
	 Final Maturity Date:
	  	July 15, 2027
		
	 Issue Price:
	  	100%, plus accrued interest, if any, from January 17, 2019
		
	 Coupon:
	  	6.500%
		
	 Yield to Maturity:
	  	6.500%
		
	 Interest Payment Dates:
	  	January 15 and July 15, beginning on July 15, 2019
		
	 Record Dates:
	  	January 1 and July 1
		
	 Make-Whole Redemption
	  	Make-whole redemption at T+50 basis points prior to July 15, 2022

  
 Annex A-1 

					
		
	 Optional Redemption:
	  	In addition, on or after July 15, 2022, the Issuers may redeem all or a part of the 2027 Notes at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid
interest and Liquidated Damages, if any, on the 2027 Notes redeemed, to the applicable redemption date, if redeemed during the twelve-month period beginning on July 15 of each year indicated
below:

  

					
	 Year
	  	Price	 
	 2022
	  	 	104.875	% 
	 2023
	  	 	103.250	% 
	 2024
	  	 	101.625	% 
	 2025 and thereafter
	  	 	100.000	% 

  

					
		
	 Optional Redemption After Certain Equity Offerings:
	  	Up to 35% at 106.500% prior to January 15, 2022
		
	 Initial Purchasers:
	  	 Merrill Lynch, Pierce, Fenner & Smith

                     Incorporated

Jefferies LLC
 Wells Fargo Securities, LLC

Capital One Securities, Inc.
 Goldman Sachs & Co. LLC

TD Securities (USA) LLC
 ABN AMRO Securities (USA) LLC

BBVA Securities Inc.
 ING Financial Markets LLC

MUFG Securities Americas Inc.
 Scotia Capital (USA) Inc.

SMBC Nikko Securities America, Inc.
 BB&T Capital Markets, a
division of BB&T Securities, LLC
 BMO Capital Markets Corp.

CIBC World Markets Corp.
 Citizens Capital Markets, Inc.

Fifth Third Securities, Inc.
 U.S. Bancorp Investments,
Inc.

		
	 Trade Date:
	  	January 10, 2019
		
	 Settlement Date:
	  	January 17, 2019 (T+5 business days)
		
	 Denominations:
	  	$2,000 and integral multiples of $1,000 in excess thereof
		
	 Distribution:
	  	144A and Regulation S with registration rights as set forth in the Preliminary Offering Memorandum
			
	CUSIP and ISIN Numbers:	  	 2027 144A Notes:
	  	 2027 Reg S Notes:

		  	CUSIP: 87612B BK7	  	CUSIP: U87571 AP7
		  	ISIN: US87612BBK70	  	ISIN: USU87571AP75
	
	Terms Applicable to the 6.875% Senior Notes due 2029
		
	 Issuers:
	  	 Targa Resources Partners LP

Targa Resources Partners Finance Corporation

		
	 Principal Amount:
	  	$750,000,000
		
	 Title of Securities:
	  	6.875% Senior Notes due 2029 (the “2029 Notes” and, together with the 2027 Notes, the “notes”)
		
	 Final Maturity Date:
	  	January 15, 2029
		
	 Issue Price:
	  	100%, plus accrued interest, if any, from January 17, 2019
		
	 Coupon:
	  	6.875%

					
		
	 Yield to Maturity:
	  	6.875%
		
	 Interest Payment Dates:
	  	January 15 and July 15, beginning on July 15, 2019
		
	 Record Dates:
	  	January 1 and July 1
		
	 Make-Whole Redemption
	  	Make-whole redemption at T+50 basis points prior to January 15, 2024
		
	 Optional Redemption:
	  	In addition, on or after January 15, 2024, the Issuers may redeem all or a part of the 2029 Notes at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid
interest and Liquidated Damages, if any, on the 2029 Notes redeemed, to the applicable redemption date, if redeemed during the twelve-month period beginning on January 15 of each year indicated
below:

  

					
	 Year
	  	Price	 
	 2024
	  	 	103.438	% 
	 2025
	  	 	102.292	% 
	 2026
	  	 	101.146	% 
	 2027 and thereafter
	  	 	100.000	% 

  

					
		
	 Optional Redemption After Certain Equity Offerings:
	  	Up to 35% at 106.875% prior to January 15, 2022
		
	 Initial Purchasers:
	  	 Merrill Lynch, Pierce, Fenner & Smith

                     Incorporated

Jefferies LLC
 Wells Fargo Securities, LLC

Capital One Securities, Inc.
 Goldman Sachs & Co. LLC

TD Securities (USA) LLC
 ABN AMRO Securities (USA) LLC

BBVA Securities Inc.
 ING Financial Markets LLC

MUFG Securities Americas Inc.
 Scotia Capital (USA) Inc.

SMBC Nikko Securities America, Inc.
 BB&T Capital Markets, a
division of BB&T Securities, LLC
 BMO Capital Markets Corp.

CIBC World Markets Corp.
 Citizens Capital Markets, Inc.

Fifth Third Securities, Inc.
 U.S. Bancorp Investments,
Inc.

		
	 Trade Date:
	  	January 10, 2019
		
	 Settlement Date:
	  	January 17, 2019 (T+5 business days)
		
	 Denominations:
	  	$2,000 and integral multiples of $1,000 in excess thereof
		
	 Distribution:
	  	144A and Regulation S with registration rights as set forth in the Preliminary Offering Memorandum
			
	CUSIP and ISIN Numbers:	  	 2029 144A Notes:
	  	 2029 Reg S Notes:

		  	CUSIP: 87612B BM3	  	CUSIP: U87571 AQ5
		  	ISIN: US87612BBM37	  	ISIN: USU87571AQ58

 Updates to Preliminary Offering Memorandum: 

The following disclosure in each location where such information appears in the Preliminary Offering Memorandum is amended to read as follows: 

“We estimate that the net proceeds of this offering will be $1,488.5 million, after deducting initial
purchasers’ discounts and the estimated expenses of the offering. We intend to use the net proceeds from this offering to redeem our outstanding senior notes due 2019 in full and the remainder for general partnership purposes, which may include
repaying borrowings under our credit facilities or other indebtedness, working capital and funding growth investments and acquisitions.” 

“As of September 30, 2018, and after giving effect to this offering and the use of a portion of the net proceeds
therefrom to redeem in full our outstanding senior notes due 2019, we would have had total cash and cash equivalents of approximately $926.6 million, total indebtedness of approximately $6,273.0 million with no borrowings outstanding and
$2,123.4 million of borrowing capacity under our senior secured revolving credit facility and $290.0 million of borrowings and $60 million of additional borrowing capacity under our Securitization Facility, and total capitalization of
approximately $14,630.3 million.” 
 Other information (including financial information) presented in the Preliminary Offering Memorandum is
deemed to have changed to the extent effected by the changes described herein. 
 This material is confidential and is for your information only and
is not intended to be used by anyone other than you. This information does not purport to be a complete description of these notes or the offering. Please refer to the Preliminary Offering Memorandum for a complete description. 

Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers or other notices
were automatically generated as a result of this communication being sent via Bloomberg email or another communication system. 

 ANNEX B 
  

	1.	 Fourth Amended and Restated Credit Agreement, dated June 29, 2018, by and among the Partnership, Bank of
America, N.A., as Administrative Agent, Collateral Agent and Swing Line Lender, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Bank PLC, Capital One, National Association, Citigroup Global Markets Inc., RBC Capital Markets,
LLC and Wells Fargo Bank, National Association, as Co-Syndication Agents, BBVA Compass, Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A., MUFG Union Bank, N.A., PNC Bank, National Association, and The
Toronto-Dominion Bank, New York Branch, as Co-Documentation Agents and the other lenders and L/C Issuers party thereto, as amended 

 

	2.	 Indenture dated as of October 25, 2012, among Targa Resources Partners LP, Targa Resources Partners
Finance Corporation, the Guarantors named therein and U.S. Bank National Association, as supplemented 

  

	3.	 Indenture dated as of May 14, 2013, among Targa Resources Partners LP, Targa Resources Partners Finance
Corporation, the Guarantors named therein and U.S. Bank National Association, as supplemented 

  

	4.	 Indenture dated as of October 28, 2014, among Targa Resources Partners LP, Targa Resources Partners
Finance Corporation, the Guarantors named therein and U.S. Bank National Association, as supplemented 

  

	5.	 Indenture dated as of September 14, 2015, among Targa Resources Partners LP, Targa Resources Finance
Corporation, the Guarantors named therein and U.S. Bank National Association, as supplemented 

  

	6.	 Indenture dated as of October 6, 2016, among Targa Resources Partners LP, Targa Resources Finance
Corporation, the Guarantors named therein and U.S. Bank National Association, as supplemented 

  

	7.	 Indenture dated as of October 17, 2017, among Targa Resources Partners LP, Targa Resources Finance
Corporation, the Guarantors named therein and U.S. Bank National Association, as supplemented 

  

	8.	 Indenture dated as of April 12, 2018, among Targa Resources Partners LP, Targa Resources Finance
Corporation, the Guarantors named therein and U.S. Bank National Association, as supplemented 

  
 Annex B-1

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