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Shell Midstream Partners Receives Offer for Remaining Units from Shell Pipeline Company

Shell Midstream Partners, announces that it has received a non-binding, preliminary proposal letter from Shell Pipeline Company LP to acquire all of the Partnership's issued and outstanding common units not already owned by SPLC or its affiliates at a value of $12.89 per each issued and outstanding publicly held common unit of the Partnership.

February 12, 2022. By News Bureau

Shell Midstream Partners, L.P.  announces that it has received a non-binding, preliminary proposal letter from Shell Pipeline Company LP to acquire all of the Partnership's issued and outstanding common units not already owned by SPLC or its affiliates at a value of $12.89 per each issued and outstanding publicly held common unit of the Partnership. 

The Board of Directors of our general partner intends to appoint a conflicts committee to review, evaluate and negotiate the Proposal. SHLX will provide further information as appropriate.

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 concerning the transaction, and the satisfaction of conditions to the consummation of a transaction set forth in any such definitive agreement.

There can be no assurance that such definitive agreement will be executed or that any transaction will be consummated on the terms described above or at all.

This offer has no impact on the safe and reliable operation of SHLX assets, which would also continue if any buy-in is completed.

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