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Pipeline Opportunities Conference
March 2007
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Forward Looking Statements

• NASDAQ RGNC
• This presentation may contain statements about
  future events and Regency Energy Partners LPs
  (Regency Energy Partners, Regency or the
  Partnership) outlook and expectations, which
  are forward-looking statements. Although Regency
  believes that the assumptions underlying these
  statements are reasonable, investors are
  cautioned that such forward-looking statements
  are inherently uncertain and necessarily involve
  risks that may affect Regencys business
  prospects and performance, causing actual results
  to differ from those discussed during this
  presentation.
• Any forward-looking statements made are subject
  to all of the risks and uncertainties, many of
  which are beyond managements control, involved
  in gathering, processing, marketing and
  transportation of natural gas and natural gas
  liquids, or NGLs. Should one or more of these
  risks or uncertainties occur, or should
  underlying assumptions prove incorrect, Regencys
  actual results and plans could differ materially
  from those expressed in any forward-looking
  statements. These risks and uncertainties are
  discussed in more detail in Regencys filings
  with the Securities and Exchange Commission,
  copies of which are available to the public.
• The Partnership undertakes no obligation to
  publicly update any forward-looking statements,
  whether as a result of new information or future
  events.

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Regencys Formation and History

• September 2006
• Completed private equity placement totaling 60
  million

• December 2004
• HM Capital Partners acquired Regency for 405
  million and implemented comprehensive risk
  management strategy

• February 2006
• Completed initial public offering, with an
  enterprise value of 1.1 billion

• June 2003
• Acquired midstream assets from El Paso Field
  Services

2006
2005

• December 2006
• Completed private placement of 550 million in
  seven-year senior notes

2004

• August 2006
• Acquired TexStar Field Services LP

2003

• December 2005
• Completed construction of the Regency Intrastate
  Enhancement Project

• March 2004
• Acquired midstream assets from Duke Energy Field
  Services

• April 2003
• Regency established as a standalone company

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Regency Overview
Simplified Organizational Chart
Key Metrics
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1 Includes 2.0 General Partner Interest in
Regency Energy Partners LP. 2 Includes 506,500
restricted units that have been issued pursuant
to the Regency Energy Partners LP Long Term
Incentive Plan. 3 Includes 19,103,896
subordinated units.
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Strategically Located Platform of Assets
Regencys core operations are located in the key
natural gas producing basins of Texas, Louisiana,
Kansas and Oklahoma
North Louisiana TX-LA-MS Salt Province Basin
Mid-Continent Hugoton/Anadarko Basin

• 320 miles of intrastate pipeline
• 600 miles of gathering pipeline
• 5 processing plants
• Key Producers Anadarko Petroleum, Chesapeake,
  Devon, Petrohawk, Samson

• 1,600 miles of gathering pipeline
• 2 processing plants 1
• Key Producers BP, Oxy, EOG, Anadarko Petroleum

West Texas Permian Basin

• 750 miles of gathering pipeline
• 1 processing plant
• Key producers Exxon Mobil, Apache, Chevron, Duke

South Texas Western Gulf Basin

• 1,047 miles of gathering pipeline
• 2 processing/treating plants
• Key producers BlackBrush, Escondido, Lewis, The
  Exploration Company

East Texas East Texas Basin

• 371 miles of gathering pipeline
• 2 processing/treating plants2
• Key producers Valence, Redmond

• Notes
• Includes the currently inactive Lakin plant.
• Includes the Como processing plant which was
  taken out of service March 2007.

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Regency Operating Structure
Operations divided into Gathering Processing
Segment and Transportation Segment
Adjusted Segment Margin Contribution2

• Gathering Processing Segment
• Approximately 4,400 miles of gathering pipelines
• Nine active processing plants with 845 MMcf/d
  throughput capacity 1
• One stand-alone treating facility with 100 MMcf/d
  throughput capacity
• 44 of volumes under fee-based contracts

• Transportation Segment
• 320 mile intrastate system extending from near
  the TX/LA border to Winnsboro, LA
• 35 MMcf/d refrigeration plant
• Design capacity is 910 MMcf/d
• Includes Gulf States Transmission, a 10 mile
  20-inch interstate pipeline that extends from
  Harrison County, Texas to Caddo Parish, Louisiana

Notes 1 Excludes the Lakin processing plant
and the Como processing plant which was taken out
of service in March 2007. 2 For the LTM period
ending September 30, 2006. Segment margin
adjusted for unrealized hedging gains / losses.
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Experienced Incentivized Management
Regencys executives have an average of over 25
years of industry experience

• Employees own 7.4 of the Limited Partner units
  and management owns 8.7 of the General Partner

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Unit Price Performance Since IPO (through 2/27/07)
Regencys total annualized return for 2006 was
46.1
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Pipeline Opportunities Conference
March 2007