Investor presentation delivered by EV Energy Partners president and CEO Mark Houser at the June 26, 2013 Credit Suisse MLP and Energy Logistics Conference. In the presentation Houser does an extensive review of EV's Utica Shale strategy and their intention to sell some of their leased acreage.

1. Investor Presentation
June 2013

2. 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.
2

3. EVEP Overview
Note: Current yield based on $0.768/unit 1Q13 distribution paid on May 15, 2013. Unit price as of June 19, 2013.
▶ Upstream MLP delivering solid returns since IPO
September 2006
▶ GP Ownership
♦ EnerVest & Management (76.25%)
♦ Encap (23.75%)
▶ 42.6 million outstanding units
♦ $2.4 billion enterprise value
 $1.5 billion equity market cap
 $445 million bank debt
 $500 million senior notes
▶ Current yield of 9.0%
3

4. Why Invest in EVEP?
▶ Strong long-term performance and growth
▶ Solid, long-lived asset base
▶ Hedging strategy designed to reduce cash flow
volatility
▶ Synergistic relationship with EnerVest
▶ Significant Utica Shale upside
♦ Acreage, overriding royalty interests, and midstream
4

5. Long-term Performance & Growth
Average Daily Production (Mmcfe/d) Capital ($ million)
Adjusted EBITDAX ($ million) Distribution Coverage
5Note: 2013E based on 1Q13 actuals and midpoints of 2Q-4Q13 guidance.

6. ▶ 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
6Note: Percentage hedged based on the midpoint of 2Q-4Q 2013 annual production guidance.

7. Long-lived, Diverse Asset Base
Total Proved Reserves: 905 Bcfe
Percent Developed: 76%
Percent Gas: 67%
Reserve-Life Index: 15 years
2013E Avg. Production: 163 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
7* Based on the midpoint of February 2013 guidance range.

8. 2013 E&P Capital = $90 - $110 Million
Reserves & Capital Spending
8
Estimated Proved Reserves

9. ▶ Base business is performing well
▶ Barnett Shale
♦ Production: ~ 77 Mmcfe/d
 Reached peak production rates since asset purchases
 Initial production rates 11% higher
♦ 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
♦ 70 gross wells planned
 18 drilled first quarter
 14 brought online
▶ Austin Chalk
♦ Production: ~ 13 Mmcfe/d
♦ “Poor boy” horizontal multistage reentries looking encouraging
♦ A-zone multi stage projects – good results
 2 wells drilled
 3 additional wells planned by year end
Operational Performance
9

10. 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
10

11. Our Position in the Utica Shale
11
▶ EVEP and EnerVest combined
have one of the largest
positions in Ohio
♦ > 8,000 wells operated
♦ > 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

12. Recent Developments in the Utica
12
▶ Overall Utica Activity *
♦ 747 wells permitted
♦ 359 wells drilled
♦ 102 wells producing
▶ CHK/EV/Total Joint Venture
♦ ~ 235 wells drilled or drilling
♦ Currently 12 rigs running
♦ 67 producing wells
♦ 168 wells in various completion stages (75 wells waiting on pipeline capacity)
♦ Completing wells with more stages, shorter cluster spacing, fewer clusters per stage
♦ Initial production rates significantly improving
♦ Over 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 end of June +200 MMCFED
♦ Other midstream capacity forthcoming
* Source: Ohio Department of Natural Resources as of June 20, 2013

13. Wet Gas and Volatile Oil Windows
▶ Wet Gas Window
♦ Majority of drilling has
helped to de-risk play
♦ Play expanding
northeasterly into
Pennsylvania and southerly
into Washington County
▶ Volatile Oil Window
♦ Significant oil in place
 EVEP estimates 20-30 million
barrels of oil per section
♦ Limited drilling activity
 6 wells drilled
 Marginal results to date
 Suboptimal completions
13
Primary
Activity to
Date
Black Oil
Volatile Oil
Wet Gas
Dry Gas
Black Oil
Volatile Oil
Wet Gas
Dry Gas
EVEP WI Acreage
CHK/EV/Total JV

14. Utica Acreage Strategy
14
▶ EVEP and EnerVest began Utica acreage marketing process in 2012
with focus on sale of operated acreage
♦ Over 330,000 total EnerVest net working interest acres (~100,000 net
EVEP Acres)
▶ In second quarter of 2013, revised marketing strategy into smaller
packages to better align sales process with potential purchaser
focus areas
▶ Wet Gas Window
♦ Repackaged with current technical data
♦ Data room open with significant interest
▶ Volatile Oil Window
♦ De-risk through continued technical work and capital risk sharing
♦ Pursue Joint Venture(s) for a portion of the acreage
♦ In parallel, will continue to evaluate cash offers for acreage

15. Utica Working Interest Acreage
15Note: The total combined EnerVest and EVEP net acreage is 769,700 in Ohio and 156,600 in Pennsylvania.
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

16. 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
16

17. Midstream Activity Ramping Up
~ 2.6 BCF/d proposed processing projects 4Q12-YE14
Mariner West
Deliver Ethane from SUNOCO
to SARNIA
Design: 65 MBbl/d
In Service: Mid 2013
Utica East Ohio
Processing: 800 MMcf/d
NGL Storage: 870 MBbl/d
Frac Capacity: 135 MBbl/d
Ethane: ATEX
Residue: TPG, DEO
In Service: 2Q13-2Q14
MarkWest
Existing Frac - Houston PA
Processing: 325 MMcf/d
Frac Capacity: 100 MBbl/d
Ethane: MARINER WEST & MARINER
Residue: TETCO, DTI, TCO
In Service: 1Q 2014
MarkWest/Antero/Gulfport/PDC/Rex
Processing: 45; 200; 400 MMcf/d
Frac Capacity: To Harrison Complex
Ethane: ATEX
In Service 2Q 2013; 3Q 2013; 4Q 2013
Dominion - Natrium
Processing: 200 MMcf/d; 400 MMcf/d
Frac Capacity: 36 MBbl/d; 59 MBbl/d
Ethane: ATEX
Residue: DTI
In Service: 2Q2013; 3Q 2013
Caiman/Blue Racer
Processing: 520 MMcf/d
Frac Capacity: 43 MBbl/d
Ethane: MARINER WEST
Residue: TETCO
In Service: 4Q 2012
ATEX
Washington PA to Mont Belvieu
In Service: 1Q 2014
Sunoco
Delmont PA to
MARINER WEST
Shell Cracker
Proposed
NiSource/Hilcorp
Processing: 200 MMcf/d
Residue: TETCO, REX, NiSource
In Service: 3Q 2013
17
Crosstex
Compression & Stabilization

18. 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
▶ First 200 mmcf/d online end of June
▶ 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
▶ Upside potential as development drilling expands
18

19. UEO – Harrison Hub
19
16 total loading racks
(8 C3, 4 C4, 4 C5+)
CU & OH
main line
Main line
switch
10 total tracks
(4 loading tracks, 3 storage tracks,
3 inbound / outbound / runaround tracks)
Track expansion
construction underway
(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
45,000 bbl/d NGL fractionation
facility (1st train)

20. 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
20
Midstream EBITDAX RangeMidstream Capital Range

21. Why Invest in EVEP?
▶ Strong long-term performance and growth
▶ Solid, long-lived asset base
▶ Hedging strategy designed to reduce cash flow
volatility
▶ Synergistic relationship with EnerVest
▶ Significant Utica Shale upside
♦ Acreage, overriding royalty interests, and midstream
21

22. Investor Presentation
June 2013

23. APPENDIX

24. 24
EnerVest
EV Investors
EnCap
(Limited Partners)
Directors & Officers of
EV Management
EV Energy Partners, L.P.
(Nasdaq: EVEP)
Public Unitholders
EnerVest, Ltd.
EV Management, LLC
(General Partner)
EV Energy GP, L.P.
2% General Partner Interest
Incentive Distribution Rights
98% Limited Partner Interest
100%
Membership
Interest
EnerVest & EVEP

25. A Strong Strategic Partnership
with EnerVest
▶ EnerVest is recognized as one of
the largest and most successful
managers of oil and gas assets
for institutional investors
▶ Sizeable EnerVest operating
base
♦ ~ 3.1 Tcfe of Proved Reserves
♦ > 550 Mmcfe daily production
♦ 5.5 million gross acres under lease
♦ Over $6.8 billion of acquisitions
since inception
▶ > 800 employees
▶ EnerVest operates 93% of
EVEP’s assets
▶ Closed Fund XIII with $2 billion
of equity
EVEP
EnerVest Institutional
25

26. Source: Ohio Department of Natural Resources – 2012 Shale Production 26

27. 27
Stark Co., OH
EnerVest (1)
Harrison Co., OH
Gulfport (5)
Chesapeake (2)
CNX (1)
Guernsey Co., OH
Anadarko (2)
PDC (2)
Gulfport (1)
Crawford Co., PA
Range (1)
Butler Co., PA
Rex (1)
Beaver Co., PA
Chesapeake (1)
Range (1)
Jefferson Co., OH
Chesapeake (1)
Hess (1)
Monroe Co., OH
Antero (1)
HG (1)
Tuscarawas Co, OH
Chesapeake (1)
CONSOL/CNX (1)
Source: Company reports and Imperial Capital, LLC estimates as of 6/21/2013
Forest Co., PA
Seneca (1)
Belmont Co., OH
Gulfport (3)
Carroll Co., OH
Chesapeake (11)
EnerVest (1)
Rex (2)
Noble Co., OH
Rex (3)
Anadarko (3)
Antero (2)
Reported Utica Test Results
(54 Total Wells)
Coshocton Co., OH
Anadarko (1)
Mahoning Co., OH
CNX (1)
Mercer Co., PA
Halcon (1)
Venango Co., PA
CNX (1)

28. Capital Structure
($ millions)
Bank Debt @3/31 $ 445
Senior Notes Due 2019 $ 500
Equity Market Capitalization $ 1,485
Enterprise Value $ 2,430
Note: Equity market capitalization based on unit price at June 19, 2013. 28

29. Historical Financing Strategy
▶ Since 2006, completed $1.9 billion of acquisitions, approximately 60% of
which were financed with equity and free cash flow
Acquisition Financing Since IPO
Equity $1,027 53%
Free Cash Flow $94 5%
Debt Financing $808 42%
Total Acquisitions $1,928 100%
Capital Activity (1)
= Equity = Debt = Free Cash Flow
(1) Total dollar amounts represent acquisition activity by period.
29

30. Gas Prices Hedged ($/MMbtu)Gas Volume Hedged (MMbtu/d)
Note: Estimated NYMEX Henry Hub equivalent with basis differentials of: Dominion Appalachia $0.18, MichCon Citygate $0.27,
Houston Ship Channel ($0.05) and El Paso Permian ($0.27), El Paso San Juan ($0.35), NGPL TX/OK ($0.12) and TCO $0.15.
Commodity Hedging: Natural Gas
30
$4.94 $4.93 $4.88 $5.07
$0.00
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00
2Q13 2H13 2014 2015
Average Swap Price
100,311 101,300
86,600 86,500
-
20,000
40,000
60,000
80,000
100,000
2q13 2h13 2014 2015
Swap Volumes

31. Oil Prices Hedged ($/Bbl)Oil Volume Hedged (Bbl/d)
Commodity Hedging: Oil
31
4,225 4,150 4,158
2,000
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
2Q13 2H13 2014 2015
Swap Volumes
$89.11 $88.99 $91.19 $90.09
$0.00
$10.00
$20.00
$30.00
$40.00
$50.00
$60.00
$70.00
$80.00
$90.00
$100.00
2Q13 2H13 2014 2015
Average Swap Price