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Q2 2014 RESULTS – Williams Companies, Inc.

Williams Companies, Inc. · Jul 31, 2014 · 30 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q2 2014 RESULTS – Williams Companies, Inc. – slide 1
    Williams and Williams Partners L.P. Second Quarter 2014 Earnings Alan Armstrong, Chief Executive Officer July 31, 2014
  2. Q2 2014 RESULTS – Williams Companies, Inc. – slide 2
    Important information This document does not constitute an offer to buy or solicitation of an offer to sell any securities. This document contains information related to a proposal which The Williams Companies, Inc. has made for a…
  3. Q2 2014 RESULTS – Williams Companies, Inc. – slide 3
    Alan Armstrong Chief Executive Officer Williams and Williams Partners L.P. Second Quarter 2014 Earnings
  4. Q2 2014 RESULTS – Williams Companies, Inc. – slide 4
    Strong, dynamic 2Q aligned with value-growth strategy; olefins startup a short-term challenge Announced and closed major, strategy-aligned Access Midstream acquisition Strong quarter with double-digit growth on key financial measures…
  5. Q2 2014 RESULTS – Williams Companies, Inc. – slide 5
    30% higher 2Q combined WPZ/ACMP DCF growth vs. 2013 WMB expects 509 million in MLP cash distributions WPZ 2Q WMB 2Q 30% higher Distributable Cash Flow, up Adjusted Segment Profit + DD&A 117 million to 504 million 15% higher, up 98…
  6. Q2 2014 RESULTS – Williams Companies, Inc. – slide 6
    Executing Large-Scale, Value-Creating Projects; Completed Transformational ACMP Transaction 2014 Growth Drivers Recent Milestones Geismar expansion; Geismar expansion, rebuild and restart return to service Expansion substantially…
  7. Q2 2014 RESULTS – Williams Companies, Inc. – slide 7
    Expect 25 billion in WPZ committed plus potential WMB projects expected to be capital projects 2014-19; additional 4 billion dropped down to WPZ in late of 2014-16 growth capex at ACMP 2014 to early 2015 TARGET IN-SERVICE DATES FOR…
  8. Q2 2014 RESULTS – Williams Companies, Inc. – slide 8
    Proposed merger would create leading natgas MLP Combines leading supply positions in key growth basins with diversified natural gas growth platform Leading diversified natural gas growth platform Establishes most focused natgas…
  9. Q2 2014 RESULTS – Williams Companies, Inc. – slide 9
    Williams value chain adds significant growth foothold with ACMP acquisition Opportunities to extend services ACMP adds 20% U.S. Dry-Gas Volumes Touch Our Systems depth Market Hub Transmission Pipelines and Storage in key growth…
  10. Q2 2014 RESULTS – Williams Companies, Inc. – slide 10
    Williams well-positioned to participate in once-in-a-generation industry supercycle WMB now one of the largest publicly traded GP holding companies with control of both WPZ and ACMP Right long-term strategy at the right time Ideally…
  11. Q2 2014 RESULTS – Williams Companies, Inc. – slide 11
    Appendix
  12. Q2 2014 RESULTS – Williams Companies, Inc. – slide 12
    Geismar Milestones to Ethylene Production 2013 2014 June 13 July 31 Aug. 31 Sept. 30 Oct. 31 Nov. 30 Dec. 31 Incident Geismar Expansion 59 of 62 systems turned over to Geismar Rebuild operations All systems Pre-commissioning…
  13. Q2 2014 RESULTS – Williams Companies, Inc. – slide 13
    Geismar Impact on WPZ 2014 Guidance 2015 and 2016 Guidance Unchanged Amounts are in million except coverage ratios 2014 2015 2016 Low Mid High Low Mid High Low Mid High Current Guidance Including Revisions Below DCF attributable to…
  14. Q2 2014 RESULTS – Williams Companies, Inc. – slide 14
    Williams Completes Acquisition of Additional Interests in ACMP Williams acquires the 50% GP interest and 55.1 million LP units in Access Midstream Partners, LP held by Global Infrastructure Partners (GIP) for 5.995 bn in cash…
  15. Q2 2014 RESULTS – Williams Companies, Inc. – slide 15
    WMB now one of the largest publicly traded general partner holding companies Public Public NYSE: WMB Unitholders Unitholders 100% of GP Interest, 100% of GP Interest, IDRs IDRs 50% LP 64% LP 50% LP Interest Interest 36% LP…
  16. Q2 2014 RESULTS – Williams Companies, Inc. – slide 16
    WMB Non-GAAP Reconciliations
  17. Q2 2014 RESULTS – Williams Companies, Inc. – slide 17
    WMB Non-GAAP Reconciliations WMB non-GAAP reconciliation schedule 2013 2014 (Dollars in millions, except per-share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr Year Income (loss) from continuing operations…
  18. Q2 2014 RESULTS – Williams Companies, Inc. – slide 18
    WMB Non-GAAP Reconciliations WMB non-GAAP reconciliation schedule contd 2013 2014 (Dollars in millions, except per-share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr Year Adjustments below segment profit (loss)…
  19. Q2 2014 RESULTS – Williams Companies, Inc. – slide 19
    WMB Non-GAAP Reconciliations Non-GAAP reconciliation schedule adjusted segment profit (loss) and adjusted segment profit +DD&A 2013 2014 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr Year Segment profit…
  20. Q2 2014 RESULTS – Williams Companies, Inc. – slide 20
    WMB Non-GAAP Reconciliations Non-GAAP reconciliation schedule adjusted segment profit (loss) and adjusted segment profit +DD&A 2013 2014 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr Year Depreciation…
  21. Q2 2014 RESULTS – Williams Companies, Inc. – slide 21
    WMB Non-GAAP Reconciliations WMB 2014 schedule of expected adjustments (dollars in millions) Segment Profit Adjustments: 2014 Wi l l i a ms Pa rtners (WPZ) Los s rel a ted to compres s or s tation fi re 6 Impa i rment of…
  22. Q2 2014 RESULTS – Williams Companies, Inc. – slide 22
    WPZ Non-GAAP Reconciliations
  23. Q2 2014 RESULTS – Williams Companies, Inc. – slide 23
    WPZ Non-GAAP Reconciliations Reconciliation of non-GAAP distributable cash flow to GAAP net income 2013 2014 (Dollars in millions, except coverage ratios) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr Year Williams Partners…
  24. Q2 2014 RESULTS – Williams Companies, Inc. – slide 24
    WPZ Non-GAAP Reconciliations Adjusted segment profit reconciliation and adjusted segment profit + DD&A 2013 2014 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr Year Segment profit (loss): Northeast G&P…
  25. Q2 2014 RESULTS – Williams Companies, Inc. – slide 25
    WPZ Non-GAAP Reconciliations Adjusted segment profit reconciliation and adjusted segment profit + DD&A contd 2013 2014 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr Year Adjusted segment profit (loss):…
  26. Q2 2014 RESULTS – Williams Companies, Inc. – slide 26
    WPZ Non-GAAP Reconciliations Segment profit guidance reported to adjusted Segment profit guidance reported to adjusted Dollars in millions 2014 Guidance 2015 Guidance 2016 Guidance Low Midpoint High Low Midpoint High Low Midpoint…
  27. Q2 2014 RESULTS – Williams Companies, Inc. – slide 27
    WPZ Non-GAAP Reconciliations WPZ adjusted segment profit + DD&A Dollars in millions 2014 Guidance 2015 Guidance 2016 Guidance Low Midpoint High Low Midpoint High Low Midpoint High Adjusted segment profit: Northeast G&P 195 355…
  28. Q2 2014 RESULTS – Williams Companies, Inc. – slide 28
    WPZ Non-GAAP Reconciliations Distributable cash flow (DCF) and DCF per common unit Dollars in millions 2013 2014 Guidance 2015 Guidance 2016 Guidance Actual Low Midpoint High Low Midpoint High Low Midpoint High Net Income (After…
  29. Q2 2014 RESULTS – Williams Companies, Inc. – slide 29
    Non-GAAP Disclaimer
  30. Q2 2014 RESULTS – Williams Companies, Inc. – slide 30
    Net Income After Tax Reconciliation to 2015 Adjusted EBITDA Williams Access Partners Midstream Combined* Low High Low High Low High Net income after tax attributable to partnership 1,755 2,105 470 645 Net interest expense 645 665 225…

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