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Inergy, L.P. Declares Quarterly Cash Distribution

  Inergy, L.P. Declares Quarterly Cash Distribution

Business Wire

HOUSTON -- July 25, 2013

The Board of Directors of Inergy GP, LLC, general partner of Inergy, L.P.
(NYSE:NRGY) (“Inergy”), announced that it has declared the partnership’s
quarterly cash distribution of $0.13 per limited partner unit ($0.52 annually)
for the quarter ended June 30, 2013. The distribution will be paid on August
14, 2013, to unitholders of record as of August 7, 2013.

On June 18, 2013, Inergy completed the pro rata distribution to its
unitholders of approximately 56.4 million common units of Inergy Midstream,
L.P. (NYSE:NRGM) at a distribution rate of 0.432052 NRGM unit for each Inergy
limited partner unit owned on the record date. As a result, Inergy’s quarterly
cash distribution of $0.13 reflects the NRGM unit distribution. Inergy
investors who received – and continue to own through August 7, 2013 – NRGM
common units distributed by Inergy will receive total quarterly cash
distributions of $0.3025 per Inergy unit, consisting of the $0.13 per unit to
be paid directly by Inergy and approximately $0.1725 per Inergy unit to be
paid by NRGM, based upon NRGM’s declared quarterly distribution of $0.40 per
NRGM common unit.

On June 19, 2013, Crestwood Holdings LLC completed the previously announced
acquisition of Inergy’s general partner and contributed to Inergy ownership of
CMLP GP, LLC, which owns 100% of the general partnership interests and
incentive distribution rights of Crestwood Midstream Partners LP (NYSE:CMLP)
(“Crestwood”).

Inergy, Inergy Midstream, and Crestwood each plan to release earnings for the
quarter ended June 30, 2013 on August 6, 2013. Inergy, Inergy Midstream, and
Crestwood will host a joint conference call and internet webcast on August 6,
2013, at 9:00 a.m. Central Time to discuss the results of operations for the
quarter. The call-in number for the earnings call is 1-480-629-9723, and the
conference name is Inergy. The live internet webcast and the replay can be
accessed on Inergy’s website, www.inergylp.com. A digital recording of the
call will be available for one week following the call by dialing
1-303-590-3030 and entering the pass code 4631393.

About Inergy, L.P.

Inergy, L.P. is a publicly traded master limited partnership that controls,
owns, and operates energy midstream businesses. Inergy's operations include a
natural gas storage business in Texas and an NGL and crude oil supply and
logistics business that serves customers in the United States and Canada.
Through its general partner interest in Inergy Midstream, L.P. and Crestwood
Midstream Partners LP, Inergy is also engaged in the development and operation
of natural gas, NGL and crude oil gathering, processing, storage, and
transportation assets in multiple unconventional shale plays across the United
States. For more information about Inergy, L.P., visit www.inergylp.com.

About Inergy Midstream, L.P.

Inergy Midstream, L.P. is a publicly traded master limited partnership that
develops, owns, and operates predominantly fee-based natural gas, NGL and
crude oil storage and transportation businesses in the Northeast region of the
United States and in North Dakota. For more information about Inergy
Midstream, L.P., visit www.inergylp.com.

About Crestwood Midstream Partners LP

Houston, Texas-based Crestwood is a growth-oriented, midstream master limited
partnership which owns and operates predominately fee-based gathering,
processing, treating, and compression assets servicing natural gas producers
in the Barnett Shale in north Texas, the Marcellus Shale in northern West
Virginia, the Fayetteville Shale in northwest Arkansas, the Granite Wash in
the Texas Panhandle, the Avalon Shale/Bone Spring in southeastern New Mexico,
and the Haynesville/Bossier Shale in western Louisiana. For more information
about Crestwood, visit www.crestwoodlp.com.

Forward-Looking Statements

This press release may include certain statements concerning expectations for
the future that are forward-looking statements as defined by federal law. Such
forward-looking statements are subject to a variety of known and unknown
risks, uncertainties, and other factors that are difficult to predict and many
of which are beyond management’s control. These risks and assumptions are
described in Inergy’s annual reports on Form 10-K and other reports that are
available from the United States Securities and Exchange Commission. Readers
are cautioned not to place undue reliance on forward-looking statements, which
reflect management’s view only as of the date made. We undertake no obligation
to update any forward-looking statement, except as otherwise required by law.

Corporate news, unit prices, and additional information about Inergy,
including reports from the United States Securities and Exchange Commission,
are available on the partnership’s website, www.inergylp.com. For more
information, contact Vince Grisell in Inergy’s Investor Relations Department
at 816-842-8181 or via e-mail at investorrelations@inergyservices.com.

This release is intended to be a qualified notice under Treasury Regulation
Section 1.1446-4(b). Brokers and nominees should treat one hundred percent of
Inergy’s distributions to foreign investors as being attributable to income
that is effectively connected with a United States trade or business.
Accordingly, Inergy’s distributions to foreign investors are subject to
federal income tax withholding at the highest applicable effective tax rate.

Contact:

Inergy, L.P.
Vince Grisell, 816-842-8181
investorrelations@inergyservices.com
 
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