IPAA’s Oil & Gas Symposium San Francisco

September 30, 2013

Forward-Looking Statement

Statements made in this presentation that are not historical facts are “forward-looking

statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements include information about the sale of our Utica Shale assets, our midstream investments, future plans and other statements which include words such as “anticipates,” “plans,” “projects,” “expects,” “intends,” “believes,” ”should,” and similar expressions of forward-looking information. Forward-looking statements are inherently uncertain and necessarily involve risks that may affect the business prospects and performance of EV Energy Partners, L.P. Actual results may differ materially from those discussed in this presentation. Such risks and uncertainties include, but are not limited to, changes in commodity prices, changes in reserve estimates, requirements and actions of purchasers of properties (including the Utica Shale), changes in the metrics and procedures used to value midstream assets, exploration and development activities in the Utica Shale and elsewhere, the availability and cost of financing, the returns on our capital investments and acquisition strategies, the availability of sufficient cash flow to pay distributions and execute our business plan and general economic conditions. Additional information on risks and uncertainties that could affect our business prospects and performance are provided in the most recent reports of EV Energy Partners with the Securities and Exchange Commission. All forward-looking statements included in this presentation are expressly qualified in their entirety by the foregoing cautionary statements.

Any forward-looking statement speaks only as of the date on which such statement is made and EVEP undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.

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EVEP Overview

Note: Current yield based on $0.769/unit 2Q13 distribution paid on August 14, 2013. Unit price as of September 24, 2013.

▶ Upstream MLP delivering solid returns since IPO September 2006

▶ GP Ownership

♦ EnerVest & Management (76.25%)

♦ Encap (23.75%)

▶ 42.6 million outstanding units

♦ $2.6 billion enterprise value

▶ Current yield of 8.3%

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Why Invest in EVEP?

▶ Solid, long-lived asset base

▶ Synergistic relationship with EnerVest

▶ Significant Utica Shale upside

♦ Acreage, overriding royalty interests, and midstream

▶ Hedging strategy designed to reduce cash flow volatility

▶ Strong long-term performance and growth

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Long-lived, Diverse Asset Base

Total Proved Reserves: 905 Bcfe Percent Developed: 76% Percent Gas: 67% Reserve-Life Index: 15 years 2013E Avg. Production: 166 Mmcfe/d*

Central and East Texas Proved Reserves: 49.4 Bcfe 2012 Production: 18.1 Mmcfe/d

Michigan Proved Reserves: 24.4 Bcfe 2012 Production: 6.5 Mmcfe/d

Mid-Continent Proved Reserves: 70.0 Bcfe 2012 Production: 21.6 Mmcfe/d

San Juan Basin Proved Reserves: 53.5 Bcfe 2012 Production: 8.2 Mmcfe/d

Permian Basin Proved Reserves: 43.2 Bcfe 2012 Production: 6.1 Mmcfe/d

Monroe Field Proved Reserves: 30.7 Bcfe 2012 Production: 7.1 Mmcfe/d

Appalachian Basin Proved Reserves: 100.9 Bcfe 2012 Production: 24.9 Mmcfe/d

Barnett Shale Proved Reserves: 532.5 Bcfe 2012 Production: 70.5 Mmcfe/d

5 * 2013E based on 1H13 actuals and midpoints of 3Q-4Q13 guidance

2013 E&P Capital = $90 - $110 Million

Reserves & Capital Spending

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Estimated Proved Reserves

▶ Base business is performing well

▶ Austin Chalk ♦ Production: ~ 13 Mmcfe/d

♦ Horizontal multistage reentries looking encouraging

♦ A-zone multi stage projects – good results

2 wells drilled

3 additional wells planned by year end

▶ Barnett Shale ♦ Production: ~ 78 Mmcfe/d

Purchase agreement for ~13 Mmcf/d additional production

♦ Dropped from 3 to 2 rigs with same expected exit rate for 2013

Reduced refracs, lowered cost on overall drilling

Drilling and completion costs 9% lower

Recent initial production rates over 20% higher than AFE

♦ ~ 70 gross wells planned for 2013

46 drilled

Operational Performance

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Recent Developments in the Utica

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▶ Overall Utica Activity * ♦ 870 wells permitted

♦ 526 wells drilled

♦ 125 wells producing

▶ CHK/EV/Total Joint Venture ♦ 9 rigs expected to run through end of year

♦ Completing wells with more stages, shorter cluster spacing, fewer clusters per stage

♦ Initial production rates significantly improving

♦ 540 total wells projected to be drilled through 2014

▶ Midstream bottleneck disappearing ♦ Natrium plant online in May +200 MMCFED

♦ Initial Utica East Ohio capacity online in July +200 MMCFED

♦ Other midstream capacity forthcoming

* Source: Ohio Department of Natural Resources as of July 31, 2013

Our Position in the Utica Shale

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▶ EVEP and EnerVest combined have one of the largest positions in Ohio ♦ > 900,000 HBP acres

♦ Participation in CHK/EV/Total Joint Venture

▶ EVEP’s diversified interest ♦ 177,000 net working interest

acres

♦ Overriding royalty interests

♦ Participation in midstream projects through Utica East Ohio and Cardinal Gas Services investments

CHK/EV/TOT Joint Venture

Black Oil Volatile Oil

Wet Gas

Dry Gas

Black Oil

Volatile Oil

Wet Gas

Dry Gas

EVEP WI Acreage

CHK/EV/Total JV

EVEP’s Appalachian Evolution

Pre-Utica Appalachia

Utica East Ohio Midstream Overriding

Royalty Interest

Conventional Production

Cardinal Gas Services

Midstream

Working Interest Acreage

Current Appalachia

Conventional Production

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Utica Working Interest Acreage

11 Note: The total combined EnerVest and EVEP net acreage is 769,700 in Ohio and 156,600 in Pennsylvania. Acreage in pending sale is included in totals.

Black Oil

Volatile Oil

Wet Gas

Dry Gas

EVEP Net Acres (In thousands)

County Wet Gas Vol. Oil Other Total ASHTABULA 21 21

CARROLL 11 11 CUYAHOGA 1 1

GEAUGA 2 2 GUERNSEY 3 2 5 HARRISON 2 2 LAWRENCE 7 7 MAHONING 4 4

MUSKINGUM 6 6 NOBLE 1 1

PORTAGE 3 1 4 STARK 3 38 41

SUMMIT 2 2 TRUMBULL 2 8 2 12

TUSCARAWAS 6 18 24 WASHINGTON 5 5

Other OH 1 3 9 13

TOTAL OH 45 78 38 161

CRAWFORD, PA 1 1 ERIE, PA 3 3

MCKEAN, PA 2 2 MERCER, PA 8 8 WARREN, PA 1 1

Other PA 1 1

TOTAL PA 9 1 6 16

Total 54 79 44 177

Black Oil

Volatile Oil

Wet Gas

Dry Gas

EVEP WI Acreage

CHK/EV/Total JV

Marketing wet gas window acres &

pursuing JV opportunities in

volatile oil window

▶ Agreement signed for 22,535 net EnerVest acres in the southern Utica wet-gas window ♦ Includes 4,345 net EVEP acres

▶ EVEP will receive $56 million, subject to purchase price adjustments ♦ Average price of $12,900 per

acre

▶ Initial closing at end of third quarter

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Utica Acreage Sale Overview

EVEP Acreage

Utica Overriding Royalty Interest Acreage

▶ Overriding Royalty Interest (ORRI) acreage is mostly in wet gas and oil windows ♦ ~880,000 gross acres

▶ Average 2.7% ORRI on ~ 415,000 operated gross acres

▶ Average 1.3% ORRI on ~ 465,000 non-operated gross acres

▶ Significant future cash flow potential as Utica acreage is developed

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Utica Midstream Activity

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Utica Midstream Investments

Utica East Ohio Midstream – EVEP owns 21% ▶ Gather, process and fractionate wet gas from CHK/EV/Total

JV production ♦ 800 MMcf/d of processing & 135 MBbls/d of fractionation capacity

♦ Onsite working storage of ~870 MBbls of purity components

♦ ~ 1 million dedicated working interest acres

▶ Initially online July 2013 ♦ Kensington – 200 MMcf/d of gas processing capacity

♦ Harrison – 45 MBbls/d of fractionation capacity

▶ Upside potential as development drilling expands

Cardinal Gas Services – EVEP owns 9% ▶ Low-pressure gathering and compression of wet gas from

JV production into Utica East Ohio infrastructure ♦ JV firm drilling schedule calls for 540 wells by year end 2014

♦ Plans for ~ 4,600 gross wells over 18 years

♦ Over 1 Bcf/d expected within 5 years

♦ Over 200 wells connected to date

▶ Upside potential as development drilling expands

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Utica Midstream Capital and EBITDAX

▶ Capital investment of $335-395 million, net to EVEP, over 5 years ▶ Stable, long-term cash flow stream ▶ UEO has fee structure defined by contract

♦ Fees for gathering, compression, processing, NGL transport, fractionation and storage

▶ CGS has cost-of-services arrangement with fixed IRR ♦ Gathering fee re-calculated annually to provide target IRR

♦ Operating costs are pass-through costs not subject to IRR calculation

▶ Financed to date with bank debt

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Midstream EBITDAX Range Midstream Capital Range

UEO – Kensington – July 2013

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Inlet Metering and

Liquid Handling

Facilities

Processing

Train #3

Processing

Train #2

Future

Processing

Train #4

Processing

Train #1

Facility

Sub-station

Residue

Compressors

Inlet

Compressors

Condensate

Stabilizer

UEO – Harrison Hub – June 2013

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(20) 90,000

gallon C3 & C4

bullet tanks

(2) 60,000 barrel

floating roof natural

gasoline tanks

50,000 barrel

pressurized C4

sphere

(4) 750 barrel C5+tanks

(2) 200,000 barrel

refrigerated C3 tanks

(2) 125,000 barrel

refrigerated C4 tanks

16 total loading racks

(8 C3, 4 C4, 4 C5+)

10 total tracks

(4 loading tracks, 3

storage tracks,

3 inbound / outbound

/ runaround tracks)

Rail cars on site

Flare Fractionation trains 2 & 3 site work

Fractionation train 1

Fire water tank

Barnett Shale Acquisition

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▶ Joint purchase with EnerVest Institutional Partnerships ♦ EVEP purchase price of $67.6 million for

31% of total assets purchased

♦ Qualifies for like-kind exchange toward recent Utica acreage sale

♦ Expected to close by October 31

▶ Reserves ♦ Located primarily in Tarrant Co.

♦ 62.3 Bcf proved and 30.7 Bcf probable reserves*

♦ 100% natural gas

♦ 58% proved developed

♦ ~ 13 Mmcf/d current net production

♦ 82 active wells; 90% operated

♦ 71 PUD and probable drilling locations

▶ Total Acreage Position ♦ ~ 17,000 gross acres

♦ ~ 9,500 net acres (~ 2950 net to EVEP)

* Based on recent strip prices.

Existing Acreage

Acquisition Acreage

Dry Gas

Wet Gas

Oil

Long-term Performance & Growth

Average Daily Production (Mmcfe/d) Capital ($ million)

Adjusted EBITDAX ($ million) Distribution Coverage

20 Note: 2013E based on 1H13 actuals and midpoints of 3Q-4Q13 guidance.

Capital Structure

($ millions)

Bank Debt @ 6/30 $ 520

Senior Notes Due 2019 $ 500

Equity Market Capitalization $ 1,605

Enterprise Value $ 2,625

Note: Equity market capitalization based on unit price at September 24, 2013. 21

▶ Hedges used to reduce the effects of commodity price volatility and support initial acquisition economics

▶ Hedged approximately 90% for 2013, 80% for 2014 and 70% for 2015

Active Commodity Hedging Strategy

22 Note: Percentage hedged based on the midpoint of 3Q-4Q 2013 annual production guidance.

Gas Prices Hedged ($/MMbtu) Gas Volume Hedged (MMbtu/d)

Note: Estimated NYMEX Henry Hub equivalent with basis differentials of: Dominion Appalachia ($0.50), MichCon Citygate $0.26, Houston Ship Channel $0.04 and El Paso Permian ($0.02), El Paso San Juan ($0.03), NGPL TX/OK ($0.04) and TCO ($0.04).

Commodity Hedging: Natural Gas

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Oil Prices Hedged ($/Bbl) Oil Volume Hedged (Bbl/d)

Commodity Hedging: Oil

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Why Invest in EVEP?

▶ Solid, long-lived asset base

▶ Synergistic relationship with EnerVest

▶ Significant Utica Shale upside

♦ Acreage, overriding royalty interests, and midstream

▶ Hedging strategy designed to reduce cash flow volatility

▶ Strong long-term performance and growth

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IPAA’s Oil & Gas Symposium San Francisco

September 30, 2013