SHELL MIDSTREAM PARTNERS, LP RECEIVES OFFER FOR REMAINING UNITS OF SHELL PIPELINE COMPANY LP

HOUSTON, February 11, 2022 /PRNewswire/ — Shell Midstream Partners, LP (NYSE: SHLX) (“SHLX” or the “Partnership”) announces that it has received a non-binding preliminary proposal letter from Shell Pipeline Company LP (“SPLC”) to acquire all of the issued and outstanding ordinary shares of the Partnership that are not already held by SPLC or its affiliates to a value of $12.89 per issued and outstanding common unit of the Partnership (the “Proposal”). Our general partner’s board of directors intends to appoint a conflicts committee to review, evaluate and negotiate the proposal. SHLX will provide further information as needed.

The proposed transaction is subject to a number of contingencies, including the approval of the board of directors of our general partner, the negotiation of a definitive agreement regarding the transaction and the satisfaction of the conditions to the completion of a transaction set forth in such a definitive agreement. There can be no assurance that any such definitive agreement will be executed or that any transaction will be completed on the terms described above or at all.

This offering has no impact on the safe and reliable operation of SHLX’s assets, which would also continue if a takeover were made.

About Shell Midstream Partners, LP

Shell Midstream Partners, LP, headquartered in Houston, TX, owns, operates, develops and acquires pipelines and other midstream and logistics assets. The Partnership’s assets include interests in entities that own (a) crude oil and refined products pipelines and terminals that serve as key infrastructure to transport onshore and offshore crude oil production to refining markets in the Gulf Coast and Midwest and deliver refined products to these major demand markets and (b) storage tanks and financing claims that are secured by pipelines, storage tanks, docks, truck racks and rails and other infrastructure used to organize and transport intermediate and finished products. The Partnership’s assets also include interests in entities that own natural gas and refinery pipelines that transport offshore natural gas to marketing centers and deliver refinery gas from refineries and plants to sites. chemicals along the Gulf Coast.

FORWARD-LOOKING STATEMENTS

This press release contains various “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements regarding management’s expectations, beliefs, estimates, forecasts, projections and assumptions. You can identify our forward-looking statements by words such as “anticipate”, “believe”, “estimate”, “budget”, “continue”, “potential”, “direction”, “effort”, “expect”, “expect”. ,” “goals”, “objectives”, “outlook”, “intention”, “plan”, “predict”, “project”, “seek”, “target”, “begin”, “could”, “may”, “should” or “would” or other similar expressions that convey uncertainty of future events or results. Pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, these statements are together with a disclaimer identifying important factors, but not necessarily all such factors, that could cause future results to differ materially from those set forth in – look at statements. In particular, statements expressed or implied regarding any proposal or proposed transaction are forward-looking statements. forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future actions, conditions or events and future results of operations may differ materially from those expressed in such forward-looking statements. Forward-looking statements speak only as of the date of this press release, February 11, 2022, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. All forward-looking statements contained herein are expressly qualified in their entirety by the cautionary statements contained or referred to in this paragraph. Many of the factors that will determine these events are beyond our ability to control or predict.

* SHELL and SHELL Pecten are registered trademarks of Shell Trademark Management, BV used under licence.

SOURCE Shell Midstream Partners, LP

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