ENERGY TRANSFER EQUITY, L.P. ETE Proposal to Acquire WMB June 2015
PROPOSED ETE / WMB MERGER WOULD CREATE WORLDS LARGEST ENERGY INFRASTRUCTURE GROUP Energy Transfer Equity, L.P. (ETE) has made a proposal to acquire The Williams Companies, Inc. (WMB) in an all equity transaction valued at…
ETE WOULD BE AMONG THE LARGEST ENERGY COMPANIES IN THE WORLD Enterprise Value vs. Top Energy Companies(1) ( in billions) 415 394 Major Midstream 278 Pro Forma Oilfield Services 210 E&P 185 166 153 153 152 131 115 98 83…
UNIQUE GEOGRAPHIC FOOTPRINT ACROSS THE GROUP , , ETP Assets , SXL Assets WPZ Pipelines , WPZ Gas Processing Plants , WPZ LPG Fractionators 1,499 1,267 , Crude Production (Mbpd) 9 9 , Natural Gas Production…
ETE WOULD CONTINUE TO BENEFIT FROM STRONG CASH FLOW GROWTH Distributions received from underlying operating partnerships(1) ( in millions) LP WPZ GP + IDRs WPZ Represents 1,250 approximate split Lake Charles LNG between 2015…
WHY WE BELIEVE PROPOSED ETE CORP / WMB MERGER IS SUPERIOR TO WMB / WPZ RESTRUCTURING ETE Corp / WMB Merger WMB / WPZ Restructuring WMB stockholders would benefit from the strong cash A defensive, financial restructuring transaction…
BENEFITS OF ETE PROPOSAL TO WILLIAMS STAKEHOLDERS Expected Benefits to WMB Expected Benefits to WPZ Participation in rapidly consolidating midstream space with The combination would create new commercial premium operating franchise…
EXPECTED BENEFITS TO ETE STAKEHOLDERS Transaction would be immediately accretive to distributable cash flow for ETE A combination of ETE and WMB would create the worlds largest energy infrastructure group and third largest energy…
PRO FORMA ETE ORGANIZATION ETE CORP. L.P. (NYSE: ETC) ENERGY TRANSFER EQUITY, L.P. 58.8% LP Interest (NYSE: ETE) 90% GP / IDRs 100% GP / IDRs (Class H Units) 100% 5% LP Interest, Interest (1) 100% GP / IDRs ENERGY…
TRADING AND FINANCIAL PERFORMANCE SUPPORTS THE EXPECTED BENEFITS OF OUR STRUCTURE 3 Year Total Return Performance 340% 286% 300% 260% 220% 180% 140% 100% 60% 83% 20% (20%) Jun-2012 Mar-2013 Dec-2013 Sep-2014…