Depositary Units Representing Limited Partner Interests

Icahn Enterprises L.P.

16690 COLLINS AVE,, SUNNY ISLES BEACH, FL, 33160

The Reporting Persons may be deemed to beneficially own, in the aggregate, 518,932,944 Depositary Units, representing approximately 86.84% of the Issuer's outstanding Depositary Units (based upon (i) the 573,419,882 Depositary Units stated to be outstanding as of August 4, 2025, by the Issuer in its Form 10-Q filed with the Securities and Exchange Commission on May 4, 2025, plus (ii) the 24,149,325 Depositary Units issued to the Reporting Persons by the Issuer on September 24, 2025, in connection with a regular quarterly distribution of Depositary Units by the Issuer).

CCI Onshore has sole voting power and sole dispositive power with respect to 110,873,576 Depositary Units. Pursuant to Rule 13d-3(a) under the Exchange Act, each of High Coast, Little Meadow and Mr. Icahn (by virtue of their relationships to CCI Onshore) may be deemed to indirectly beneficially own the Depositary Units which CCI Onshore owns. Each of High Coast, Little Meadow and Mr. Icahn disclaims beneficial ownership of the Depositary Units for all other purposes. Gascon has sole voting power and sole dispositive power with respect to 71,332,451 Depositary Units. Pursuant to Rule 13d-3(a) under the Exchange Act, each of Little Meadow and Mr. Icahn (by virtue of their relationships to Gascon) may be deemed to indirectly beneficially own the Depositary Units which Gascon owns. Each of Little Meadow and Mr. Icahn disclaims beneficial ownership of the Depositary Units for all other purposes. High Coast has sole voting power and sole dispositive power with respect to 260,034,192 Depositary Units. Pursuant to Rule 13d-3(a) under the Exchange Act, each of Little Meadow and Mr. Icahn (by virtue of their relationships to High Coast) may be deemed to indirectly beneficially own the Depositary Units which High Coast owns. Each of Little Meadow and Mr. Icahn disclaims beneficial ownership of the Depositary Units for all other purposes. Highcrest has sole voting power and sole dispositive power with respect to 57,321,531 Depositary Units. Pursuant to Rule 13d-3(a) under the Exchange Act, each of Starfire and Mr. Icahn (by virtue of their relationships to Highcrest) may be deemed to indirectly beneficially own the Depositary Units which Highcrest owns. Each of Starfire and Mr. Icahn disclaims beneficial ownership of the Depositary Units for all other purposes. Thornwood has sole voting power and sole dispositive power with respect to 19,371,194 Depositary Units. Pursuant to Rule 13d-3(a) under the Exchange Act, each of Barberry and Mr. Icahn (by virtue of their relationships to Thornwood) may be deemed to indirectly beneficially own the Depositary Units which Thornwood owns. Each of Barberry and Mr. Icahn disclaims beneficial ownership of the Depositary Units for all other purposes.

Except for the acquisition of Depositary Units from the Issuer in connection with a quarterly dividend, none of the Reporting Persons effected any transactions in the Issuer's securities during the past sixty (60) days. On September 24, 2025, in connection with the quarterly dividend, CCI Onshore received 5,159,669 Depositary Units, Gascon received 3,319,563 Depositary Units, High Coast received 12,101,084 Depositary Units, Highcrest received 2,667,542 Depositary Units, and Thornwood received 901,467 Depositary Units.