This material has been prepared for informational purposes only and is not an offer to buy or sell or a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. Past performance is not necessarily a guide to future performance. Please see additional important information and qualifications at the end of this material. Copyright 2014 Powerhouse

David Thompson, CMT Executive Vice President202-333-5380 www.powerhouseTL.com

Buying Smart, Selling Smart Despite Volatile Propane Prices

NPGA 2014 Southeastern Propane ExpoApril 12-13, 2014

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Major Changes to Propane Market Fundamentals

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Propane to WTI Crude Price Ratio

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U.S. NGL Supply Sources

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U.S. Propane Production

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U.S. Propane Exports

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Propane Share of Heating Demand by Key States

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PADD 2 (Midwest) Propane Inventories Trended Lower on Strong Crop Drying Demand and Extreme Cold

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Winter 2013-14 Propane Supply Disruptions

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