Tallgrass Energy Increases Quarterly Distributions and Announces Date for Second Quarter 2017 Financial Results

LEAWOOD, Kan.–(BUSINESS WIRE)–Tallgrass Energy Partners, LP (NYSE: TEP) and Tallgrass Energy GP, LP
(NYSE: TEGP) (“Tallgrass”) today announced their quarterly distributions
for the second quarter of 2017. The distributions will be paid on
Monday, August 14, 2017, to unitholders and shareholders of record as of
the close of business on Friday, July 28, 2017.

TEP

The board of directors of TEP’s general partner declared a quarterly
cash distribution of $0.925 per common unit for the second quarter of
2017, or $3.70 on an annualized basis. This represents a sequential
increase of 10.8 percent from the first quarter 2017 distribution of
$0.835 per common unit and an increase of 22.5 percent from the second
quarter 2016 distribution of $0.755 per common unit. It is TEP’s 16^th
consecutive increase since its May 2013 IPO.

The increase is consistent with management’s previously announced plan
to recommend to the board of directors of its general partner increases
in its second and third quarter 2017 distributions that will aggregate
to at least $0.10 per unit (or $0.40 per unit on an annualized basis)
over the first quarter 2017 distribution of $0.835. TEP acquired an
approximate 25 percent membership interest in Rockies Express Pipeline
LLC in March 2017.

TEGP

The board of directors of TEGP’s general partner declared a quarterly
cash distribution of $0.3425 per Class A share for the second quarter of
2017, or $1.37 on an annualized basis. This represents a 19.1 percent
sequential increase from the first quarter 2017 distribution of $0.2875
per Class A share and an increase of 39.8 percent from the second
quarter 2016 distribution of $0.245 per Class A share. It is TEGP’s
eighth consecutive increase since its May 2015 IPO.

Second Quarter 2017 Financial Results and
Conference Call

Tallgrass plans to report second quarter 2017 financial results on
Wednesday, August 2, 2017, after market close and hold a conference call
at 3:30 p.m. Central Time that same day.

Tallgrass invites unitholders, shareholders and other interested parties
to listen to the call through a link posted on the Investor Relations
section of Tallgrass’s website at www.tallgrassenergy.com.

Tax Considerations

This release is intended to be a qualified notice to nominees and
brokers under Treasury Regulation Sections 1.1446-4(b)(4) and (d). All
of TEP’s distributions to foreign investors are attributable to income
that is effectively connected with a United States trade or business.
Accordingly, TEP’s distributions to foreign investors are subject to
federal income tax withholding at the highest effective tax rate.

About Tallgrass Energy

Tallgrass Energy is a family of companies that includes publicly traded
partnerships Tallgrass Energy Partners, LP (NYSE: TEP) and Tallgrass
Energy GP, LP (NYSE: TEGP), and privately held Tallgrass Development,
LP. Operating across 10 states, Tallgrass is a growth-oriented midstream
energy operator with transportation, storage, terminal and processing
assets that serve some of the nation’s most prolific crude oil and
natural gas basins.

To learn more, please visit our website at www.tallgrassenergy.com.

Cautionary Note Concerning Forward-Looking
Statements

Disclosures in this press release contain “forward-looking statements.”
All statements, other than statements of historical facts, included in
this press release that address activities, events or developments that
management plans, expects, believes or anticipates will or may occur in
the future are forward-looking statements. Without limiting the
generality of the foregoing, forward-looking statements contained in
this press release specifically include whether there will be and, if
so, the amount of TEP’s quarterly distribution for the third quarter of
2017. Such statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of TEP, which may
cause actual results to differ materially from those implied or
expressed by the forward-looking statements, and other important factors
that could cause actual results to differ materially from those
projected, including those set forth in reports filed by TEP with the
Securities and Exchange Commission. Any forward-looking statement
applies only as of the date on which such statement is made and TEP does
not intend to correct or update any forward-looking statement, whether
as a result of new information, future events or otherwise, except as
required by law.

Contacts

Tallgrass Energy
Investor and Financial Inquiries
Nate
Lien, 913-928-6012
[email protected]
or
Media
and Trade Inquiries
Phyllis Hammond, 303-763-3568
[email protected]