Assets

Ozark Gas Transmission

• 565-mile, 500 MMcf/d interstate pipeline

• FERC regulated

• Fully subscribed

• Interconnects with multiple interstate pipelines

– Spectra Energy’s Texas Eastern Transmission

– Others include: MRT, Texas Gas, & NGPL

Ozark Gas Gathering

• 365-mile gathering system

• Fee-based contracts

• Accesses Fayetteville Shale and Arkoma Basin

Transaction Highlights

• Purchase price: $300 million

• Closing: May 4, 2009

Strategic Fit for Spectra Energy Partners and Spectra Energy Corp

• Fits Spectra Energy Partners’ focus on fee- based pipeline and storage assets

• Expands and diversifies Spectra Energy Partners’ reach into Fayetteville Shale and Arkoma Basin

• Offers future organic expansion opportunities

• Creates commercial synergies with Spectra Energy through Texas Eastern Transmission and other assets