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News Release

DCP Midstream Announces Common and Preferred Unit Distributions

DENVER, Oct. 23, 2018 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced today that the board of directors of its general partner declared a third quarter 2018 common unit distribution of $0.78 per unit, or $3.12 per unit on an annualized basis. This quarterly common unit distribution will be paid November 14, 2018 to common unitholders of record at the close of business on November 2, 2018.

In addition, the board of directors declared a semi-annual Series A preferred unit distribution of $36.875 per unit and a quarterly Series B preferred unit distribution of $0.4922 per unit. These preferred unit cash distributions will be paid December 17, 2018 to preferred unitholders of record at the close of business on December 3, 2018.

The board of directors also declared an initial quarterly Series C preferred unit distribution of $0.5576 per unit, which includes the distribution attributable to the partial-period from and including the original issue date of October 4, 2018. This preferred unit cash distribution will be paid January 15, 2019 to preferred unitholders of record at the close of business on January 2, 2019.

INVESTOR RELATIONS: Irene Lofland                                                                                                                                                        
Phone: 303-605-1822                                                                                                                                                        
                                                                                                                                                           
MEDIA RELATIONS: Sarah Sandberg                                                                                                                                                        
Phone: 303-605-1626                                                                                                                                                        

This serves as qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100 percent of DCP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, DCP’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate. Nominees are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

ABOUT DCP MIDSTREAM, LP
DCP Midstream, LP (NYSE:DCP) is a midstream master limited partnership headquartered in Denver, Colorado, with a diversified portfolio of gathering and processing assets in addition to logistics and marketing assets. DCP is one of the largest natural gas liquids producers and marketers and one of the largest natural gas processors in the U.S. The owner of DCP’s general partner is a joint venture between Enbridge and Phillips 66. For more information, visit the DCP Midstream, LP website at www.dcpmidstream.com.

 

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