| Schedule of units conversion |
| | Period | Conversion Factor | March 31, 2025 through March 30, 2026 | 5.00x | March 31, 2026 through March 30, 2027 | 6.00x | March 31, 2027 through March 30, 2028 | 7.00x | March 31, 2028 through March 30, 2029 | 10.00x | March 31, 2029 through March 30, 2030 | 12.00x | March 31, 2030 through March 30, 2031 | 25.00x |
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| Schedule of limited partner units |
| | | | | | | April 30, 2025 | | July 31, 2024 | Public Class A Unitholders (1) | | 3,480,621 | | 3,480,621 | James E. Ferrell (2) | | 238,172 | | 238,172 | Ferrell Companies (3) | | 1,126,468 | | 1,126,468 | FCI Trading Corp. (4) | | 9,784 | | 9,784 | Ferrell Propane, Inc. (5) | | 2,560 | | 2,560 | Total | | 4,857,605 | | 4,857,605 |
| (1) | These Class A Units are traded on the OTC Pink Market under the symbol “FGPR.” |
| (2) | James E. Ferrell was the Executive Chairman of the Board of Directors of our general partner in fiscal 2024. Effective August 5, 2024, he was appointed to serve as Chairman of the Board of Directors of our general partner. He is a related party. JEF Capital Management owns 237,942 of these Class A Units and is owned by the James E. Ferrell Revocable Trust Two and other family trusts, all of which James E. Ferrell and/or his family members are the trustees and beneficiaries. James E. Ferrell holds all voting common stock of JEF Capital Management. The remaining 230 Class A Units are held by Ferrell Resources Holdings, Inc., which is wholly-owned by the James E. Ferrell Revocable Trust One, for which James E. Ferrell is the trustee and sole beneficiary. |
| (3) | Ferrell Companies is the owner of the general partner and an approximate 23% direct owner of Ferrellgas Partners’ Class A Units and thus a related party. Ferrell Companies also beneficially owns 9,784 and 2,560 Class A Units of Ferrellgas Partners held by FCI Trading Corp. (“FCI Trading”) and Ferrell Propane, Inc. (“Ferrell Propane"), respectively, bringing Ferrell Companies’ total beneficial ownership of Class A Units to 23.4%. |
| (4) | FCI Trading is an affiliate of the general partner and thus a related party. |
| (5) | Ferrell Propane is controlled by the general partner and thus a related party. |
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