JP Energy Partners LPInvestor Presentation

November 2014

Disclaimers

2

This presentation contains forward-looking statements. These statements discuss future expectations, contain projections of results of operations or of financial condition or state other forward-looking information. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including examination of historical operating trends made by the management of JP Energy Partners LP (the “Partnership” or “JPE”). Although the Partnership believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies, which are difficult or impossible to predict and are beyond its control, the Partnership cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions. These forward-looking statements involve risks and uncertainties. When considering these forward- looking statements, you should keep in mind the risk factors and other cautionary statements in the filings made by the Partnership with the Securities and Exchange Commission (the “SEC”), copies of which are available to the public. The risk factors and other factors noted in the Partnership’s filings with the SEC could cause the Partnership’s actual results to differ materially from those contained in any forward-looking statement. The Partnership expressly disclaims any intention or obligation to revise or publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

Forward Looking Statements

Non-GAAP Measures

This document includes certain non-GAAP financial measures as defined under SEC Regulation G. A reconciliation of those measures to most directly comparable GAAPmeasures is provided at the end of this presentation.

Adjusted EBITDA is defined as net income (loss) plus (minus) interest expense (income), income tax expense (benefit), depreciation and amortization expense, assetimpairments, (gains) losses on asset sales, certain non-cash charges such as non-cash equity compensation and non-cash vacation expense, non-cash (gains) losses oncommodity derivative contracts (total (gain) loss on commodity derivatives less net cash flow associated with commodity derivatives settled during the period) and selected(gains) charges and transaction costs that are unusual or non-recurring and other selected items that impact comparability.

We define distributable cash flow as Adjusted EBITDA less net cash interest paid, income taxes paid and maintenance capital expenditures.

JP Energy Partners LP

• Midstream MLP focused on infrastructure solutions to users of liquid petroleum products

• Integrated and diversified platform with stable cash flows

• Fee-based and margin-based business model with low commodity price sensitivity

• Proven ability to complete acquisitions and develop organic projects

• Significant growth opportunities through JP Energy family of organic projects & drop-downs

3

JP Energy Partners LP is a Master Limited Partnership founded in May 2010 to own, operate, develop and acquire a strategic portfolio of midstream assets

Strategically Located Assets in High Growth Shale Plays

Our Business Strategy

4

Maximize our Experienced &

EntrepreneurialManagement Team

Focus on Stable, Fee-Based Cash Flows

Grow Our Business through Organic and

Drop Down Opportunities

Capitalize on Strategically Located

Assets

Service our High Quality Customer Base

Expand our Platform for Integrated

Midstream Solutions

Significant Platform of Services

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Logistics solution from the wellhead to the end-user

Crude Oil

Producers Refiners

Truck

Pipeline Gathering

Injection Station Pipeline Terminal/Storage/Exchange Location

Pipeline

Refined ProductsNatural Gas LiquidsRefineries

OFS and Agriculture

Gas Stations

Barge

Common Carrier Pipelines

Tanker

Storage

Rail

Diluent for Heavy Crude

Producers

Refinery Produced LPG

Spec Products

Retail Distributor

Storage

Forecasted Adjusted EBITDA(1): $67 million

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Growing, Fee-Based Cash Flows with High Quality Customer Base

Crude Oil Pipelines & Storage

– Fixed storage & throughput or minimum volume requirement fees

– Growing volumes in the Southern Wolfcamp from existing

contractual producers with long-term fee-based commitments

– New customer acreage and MVC within JP Energy’s capture area

– Expansion of Silver Dollar Pipeline

Refined Products Terminaling & Storage

– Fixed fees for throughput & storage, blending services, injection of

additives and ancillary services, including product handling and

transfer services

– Rollup strategy & optimization and diluent logistical solutions drive

growth

NGL Distribution & Sales

– National cylinder exchange platform & accounts

– Increasing application with auto gas, mower gas, industrial &

oilfield applications

– Recent acquisition of NGL truck services from JP Development

– Fixed fee based on distance and volume transported

Focu

sed

on

Gro

win

g Fe

e-b

ased

Cas

h F

low

s NGL Distribution

& Sales

Refined Products

Terminals & Storage Crude Oil

Supply & Logistics

Crude Oil Pipelines &

Storage

___________________________1. Forecasted Adjusted EBITDA for the twelve months ending September 30, 2015.

Asset footprint in many of the most attractive liquids basins in North America

Near-term crude oil pipeline expansions and organic opportunities in NGL

Acreage dedications and minimum volume commitments provide for built-in growth as production increases

Recent success in re-contracting large customers in the cylinder exchange business

Potential drop-down of two pipelines currently flowing and a third to be constructed

Management team has extensive experience integrating acquisition opportunities

Footprint creates synergies for bolt-on acquisitions

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Built-in

contracted

growth

Acquisitions

from our

affiliates

Organic

Growth

Opportunities

Multiple Avenues for Growth

Acquisitions

from 3rd

parties

Platform Provides Enormous Growth OpportunitiesCurrent MLP Assets & Drop-Downs

Eagle Ford Shale

Mississippian Lime

Granite Wash

Permian Basin

Fort Worth Basin / SCOOP Play

CRUDE

CRUDE

CRUDE

CRUDE

CRUDE

Shales

JPEP Footprint

Affiliated Pipelines

Silver Dollar Pipeline

Crude Storage

Refined Product Storage

Legend

NGL

NGL

NGL

NGL

NGL

Cylinder Exchange

Cylinder Exchange Footprint

Expansion

Management & ArcLight have created near term drop-down opportunities

Drop-Down Opportunities

• ArcLight has demonstrated the ability to invest broadly and profitably across the energy industry

• ArcLight has a substantial equity commitment

to JP Energy Partners / JP Development

– ROFO assets could increase JP Energy

EBITDA by ~50%

• Right of First Offer with JP Development &

Republic Midstream

– JP Development has granted JP Energy Partners a five-year right of first offer on all of its current and future assets

– ArcLight granted JP Energy Partners an 18-month right of first offer on its 50% interest in Republic Midstream at the closing of the IPO

ArcLight Sponsorship

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Great Salt Plains Pipeline• ~115 mile crude oil pipeline• Transports Mississippian Lime

supply to Cushing, Oklahoma• Ability to expand capacity from

27 Mbbls/d to 40 Mbbls/d

Red River Pipeline• ~75 mile crude oil pipeline that

transports oil from N. Texas to Garvin City, Oklahoma

• Current capacity of 5 Mbbls/d

Republic Midstream• 180-mile crude oil gathering

system in Gonzales & Lavaca

counties, Texas

• Central delivery point (“CDP”)

with storage and blending

capacity

• 30-mile takeaway pipeline

Potential Drop-Downs

Experienced and Entrepreneurial Leadership

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J. Patrick BarleyChairman, President & Chief Executive Officer

Patrick (Pat) WelchExecutive Vice President & Chief Financial Officer

Jerry AshcroftExecutive Vice President & Chief Operating Officer

• Founder, President and CEO of Lonestar Midstream Partners, a midstream company focused on natural gas gathering and processing

• Brings over 15 years of experience managing early-stage investments

• 10 years in midstream sector

• Senior roles at Opportune, Atlantic Power Corporation, DCP Midstream and Dynegy

• Senior Audit Manager in energy, utilities and mining practice for PricewaterhouseCoopers

• Over 24 years of energy industry finance experience

• Senior Vice President of Buckeye Partners LP and President of Buckeye Services

• Senior roles with Colonial Pipeline Company, Georgia Pacific Company and the U.S. Marine Corps

JP Energy Assets

JP Energy Family Overview

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JP Energy Partners has a strategic partnership with JP Development and Republic Midstream

JP Development

• Founded in July 2012 to support JP

Energy’s growth

• JP Development projects may be

dropped down to us

– In February 2014, we completed

our first drop down valued at

$319 million

• JP Development has extended us a

right of first offer (ROFO) for the

next five years on all of JP

Development’s current and future

assets

JP Energy Partners

• Founded in May 2010 to own,

operate, develop and acquire a

diversified portfolio of midstream

energy assets

• Operations currently consist of four

business segments:

– Crude Oil Pipelines & Storage

– Crude Oil Supply & Logistics

– Refined Products Terminals &

Storage

– NGL Distribution & Sales

Republic Midstream

• Formed with $400 million

commitment from ArcLight to

design, build and operate a crude

gathering system for Penn Virginia in

the Eagle Ford shale

– Managed by JPEP and American

Midstream

– JPEP has a ROFO for the next

seventeen months for a 50%

interest in the joint venture

• Crude oil pipelines (current and future potential drop-downs) located within high growth areas and provide for a stable cash flow profile

– Current MLP assets include ~94 miles of high pressure pipeline within the Southern Wolfcamp area of the Permian Basin

– Long-term, fee-based contracts with leading producers in the play

• Supply & Logistics business utilizes customer relationships along with pipeline and trucking assets to serve customers looking for the most advantageous end-market

• Cushing storage facility located on the Enterprise terminal with access to Seaway pipeline

– Five 600,000-barrel tanks connected to Seaway Pipeline system

Crude Oil Assets Levered to High Growth Areas

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Asset Overview

Operations provide JP Energy with unique insight into customer needsMap of JPEP’s Crude Oil Operations and Drop-Downs

Eagle Ford Shale

Mississippian Lime

Granite Wash

Permian Basin

Fort Worth Basin /

SCOOP Play

Shales

JPEP Footprint

Affiliated Pipelines

Silver Dollar Pipeline

Storage

Legend

Integrated Midstream Solution From Wellhead to DownstreamJP Energy offers producers a full logistical solution to integrate assets from the wellhead to downstream

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Integrated Service Solution from Wellhead to Downstream

WellheadProduction

Process Service Offered

Barrel acquired at the wellhead and

simultaneously sold at liquid exchange

JPEP JPE utilizes its trucks and 3rd parties to

transport crude oil

JPE utilizes its pipelines and 3rd parties to

transport crude oil

• Manage the physical movement of

crude oil from origination to final

destination largely through our

network of owned and leased assets

• JP Energy utilizes its pipelines, LACTS

and terminals, fleet of 135 crude oil

gathering trucks and 700 MBbls of

leased storage capacity at Cushing,

Oklahoma to service customers

– Majority of revenue is “fee

equivalent”

• Business provides access to additional

producers, market intelligence and

increased utilization of our pipelines

– Catalyst for organic projects

within our pipeline and storage

business

JPE delivers barrels to market hub and

offers storage and terminal options

Trucking

Pipeline

Market Hub/Terminal

Silver Dollar Anchored by Active Producers and Provides Access to Multiple End-Markets

JP Energy Partners’ crude oil pipeline system is base loaded by two significant customers with over 300,000 contiguous acres

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SUTTON

REAGAN

IRION

CROCKETT

Owens Station

Midway Station

SCHLEICHER

JPEP Line

3rd Party

Central Production Facility

Station

Magellan Longhorn

Plains Pipeline – 8”

Significant contract A acreage

Significant contract B acreage

Oxy BarnhartStation (Oxy Cline Shale Interconnect)

(Plains Interconnect to Midland)

To Houston

To Colorado City To Midland

~5 years remaining on

minimum volume commitment

~8 years remaining with 110,000 acre

dedication

Significant Contract A

Significant Contract B

Lease Gathering Is a “Fee-Equivalent” Activity

Essential Service Provides Durable Baseline Cash Flow in a Variety of Markets

Wellhead Price

Trucking Costs Pipeline TariffG&A Cost

Total Cost(1) Sales Price Margin

Price $72.30 $1.00 $0.50 $0.20 $74.00 $75.00 $1.00

Cost Known

Margin Locked?

NYMEX less location/ quality

differential

Projected from

historical costs

Tariff is posted

Projected from

historical costs

NYMEX price

Production Area

JPEP

Market Hub

Pipeline

Terminal

Index-Based

Margin is

protected

against

downside, but

JPEP still has

upside through

market

optimization

activities

(exchanges,

etc.)

+ + =+

15___________________________Note: Values provided for illustration purposes only.Source: Plains All American Pipeline L.P. Investor Presentation.

Crude Oil Storage

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JP Energy Partners’ crude oil storage facility is located in Cushing, Oklahoma, a key crossroad connecting production to the Gulf Coast

Asset Highlights• Focused on operational storage with largest

tanks for logistics solutions on large crude movements

– Five 600,000 barrel tanks connected to Seaway Pipeline system

• Aggregate shell capacity of 3 MMBbls and is situated for increasing crude oil supply from Canada and the Mid-Continent

• Inbound connections with multiple pipelines and two-way interconnections with all the other major storage facilities in Cushing

• 100% of the shell capacity is dedicated to one customer under a long-term contract (~3 years remaining)

• Fixed monthly fee contract based on barrel of shell capacity, whether used or not

Cushing’s Integral Location to Producers & Refiners

Upcoming Pipelines

Current Pipelines

Cushing, OK

Legend

JPE 3MMbbls tankage

• Located in south Cushing with increased connectivity for structural players

– 36” manifold

Refined Products Terminals & Storage Growth

• Storage capacity of approximately 770,000 barrels from 10 tanks

• Primarily supplied by the Explorer Pipeline

• We own approximately six acres which can be used for future expansion (~200,000 barrels additional storage capacity)

• Average throughput of 18,224 barrels per day (1)

Caddo Mills, Texas (Dallas) Potential Growth Opportunities

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• Storage capacity of approximately 550,000 barrels from 11 tanks

• Supplied by the pipeline operated by Enterprise TE Products Pipeline Company

• Eight loading lanes with automated truck loading equipment to minimize wait time

• Average throughput of approximately 45,000 barrels per day(1)

North Little Rock, Arkansas

Provides steady, predictable cash flow with minimal maintenance capital expenditures and fee-based revenues

Butane blending

Vapor Recovery Unit

Ethanol side stream blending

Flexible tankage for quick turnover of products

New unbranded customers

Shale play logistical solution for diluent to Canada (Caddo Mills)

In tank blending (North Little Rock)

___________________________1. For six months ended June 30, 2014.

NGL Distribution & Sales

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Limited Seasonality (1)Overview

• NGL Distribution & Sales / NGL Transportation

– Target growing demand for power generation and oilfield service application, reducing exposure to heating degree days

– Fixed fee business primarily in the Eagle Ford and Permian

• Cylinder Exchange

– 3rd largest propane cylinder exchange business in the U.S.

– Established footprint in 48 states with a network of over 17,700 customer locations

– National footprint gives us capability to compete for large volume national accounts and provide us with economies of scale and significant cost savings

• Maintain flexible market pricing to allow for margin optimization

• Improve logistics and create synergies

• Leverage scale by using freight and supply point optimization

• Achieve organic growth by entering new major market, and expanding customer and other strategic relationships

• Evaluation of new services / geographies

– Oilfield & refinery services

– Continue to expand westward

Growth Opportunities NGL Operations

Cylinder Exchange Footprint

Recent Expansion

Pinnacle Location

PPE Central Ops

PPE Depots

PPE Production

Winter, 53%Summer,

47%

___________________________1. Based on forecasted revenue for the twelve months ending September 30, 2015. Winter includes three months ending December 31, 2014 and March 31, 2015, and summer

includes three months ending June 30, 2015 and September 30, 2015.

Financial Overview

Financial Strategy

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Large acreage dedications and minimum volume commitments for our crude oil

pipelines

Refined products and NGL segments offer a healthy mix of assets in mature markets but

with considerable growth opportunities

Conservative distribution coverage targeting 1.20x

Near-term organic growth projects already being pursued in existing businesses

Strategic drop-downs from JP Development & Republic Midstream could further bolster

growth

~1.1x Debt / NTM Adjusted EBITDA creates borrowing capacity for future growth

Revolver has ~$150 million in excess capacity

Target 3.5x leverage over the long-term

Established risk management policies and procedures to monitor and manage the

market risks associated with commodity prices, counterparty credit and interest rates

Seek to minimize commodity price exposure through fixed-fee contracts or margin-

based arrangements

Maintain Stable Cash Flows

Targeted Risk Management

Commitment to Financial Flexibility

Deliver Consistent Distribution

Growth

Non-GAAP Reconciliation – Adjusted EBITDA

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2014 2013

Segment Adjusted EBITDA

Crude oil pipelines and storage 5,301$ 2,931$

Crude oil supply and logistics 5,477 3,175

Refined products terminals and storage 2,525 3,899

NGLs distribution and sales 2,256 386

Discontinued operations (1) - 672

Corporate and other (5,966) (6,036)

Total Adjusted EBITDA 9,593 5,027

Depreciation and amortization (10,395) (7,790)

Interest expense (2,406) (2,279)

Income tax benefit (expense), net 158 (42)

Loss on disposal of assets (533) (478)

Unit-based compensation (578) (302)

Total gain (loss) on commodity derivatives (762) 1,022

Net cash payments for commodity derivatives settled during the period 105 8

Discontinued operations (1) - (736)

Transaction costs and other non-cash items (792) (67)

Net loss (5,610)$ (5,637)$

Three months ended September 30,

(in thousands)

___________________________1. In June 2014, we completed the sale of our crude oil logistics operations in the Bakken region of North Dakota, Montana and Wyoming.

Non-GAAP Reconciliation – Gross Margin to Operating Loss

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2014 2013

Reconciliation of adjusted gross margin to operating loss

Adjusted gross margin

Crude oil pipelines and storage 6,501$ 3,600$

Crude oil supply and logistics 8,234 6,382

Refined products terminals and storage 3,573 4,664

NGL distribution and sales 18,635 16,424

Total Adjusted gross margin 36,943 31,070

Operating expenses (17,048) (16,510)

General and administrative (11,315) (10,656)

Depreciation and amortization (10,395) (7,790)

Loss on disposal of assets (533) (478)

Total gain (loss) on commodity derivatives (762) 1,022

105 8

Other non-cash items (357) -

Operating loss (3,362)$ (3,334)$

Three Months Ended September 30,

(in thousands)

Net cash (receipts) payments for commodity