This document contains a presentation for IPAA's Oil & Gas Symposium on September 30, 2013. It summarizes EV Energy Partners' (EVEP) assets, operational performance, Utica Shale position, midstream investments, and hedging strategy. EVEP has a diverse, long-lived asset base producing 166 Mmcfe/d. It has a significant position in the Utica Shale through working interest acres, overriding royalty interests, and investments in midstream companies like Utica East Ohio and Cardinal Gas Services. EVEP uses commodity hedges to reduce cash flow volatility and support its business plan and distributions.

1. IPAA’s Oil & Gas Symposium San Francisco
September 30, 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 $0.769/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%
3

4. 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
4

5. 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

6. 2013 E&P Capital = $90 - $110 Million
Reserves & Capital Spending
6
Estimated Proved Reserves

7. ▶ 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
7

8. Recent Developments in the Utica
8
▶ 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

9. Our Position in the Utica Shale
9
▶ 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

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. Utica Working Interest Acreage
11Note: 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

12. ▶ 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
12
Utica Acreage Sale Overview
EVEP Acreage

13. 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
13

14. Utica Midstream Activity
14

15. 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
15

16. 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
16
Midstream EBITDAX RangeMidstream Capital Range

17. UEO – Kensington – July 2013
17
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

18. UEO – Harrison Hub – June 2013
18
(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

19. Barnett Shale Acquisition
19
▶ 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

20. Long-term Performance & Growth
Average Daily Production (Mmcfe/d) Capital ($ million)
Adjusted EBITDAX ($ million) Distribution Coverage
20Note: 2013E based on 1H13 actuals and midpoints of 3Q-4Q13 guidance.

21. 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

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

23. 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
23

24. Oil Prices Hedged ($/Bbl)Oil Volume Hedged (Bbl/d)
Commodity Hedging: Oil
24

25. 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
25

26. IPAA’s Oil & Gas Symposium San Francisco
September 30, 2013