Barclays CEO Energy-Power Conference 2012 Alan Armstrong, Chief Executive Officer September 5, 2012 2012 The Williams Companies, Inc. All rights reserved.
Williams (WMB) and Williams Partners L.P. (WPZ) Natural gas infrastructure supercycle Long-term, low natural-gas-to-crude ratio driving infrastructure supercycle Vast need for new infrastructure and large-scale service providers…
Williams (WMB) and Williams Partners L.P. (WPZ) Large-scale positions, market opportunities drive robust growth and value creation Deep, diverse, Sustainable sector- Great industry Strong competitive long-range set of leading…
Williams Partners L.P. (WPZ) Marcellus: Dont worry about rig count, worry about infrastructure Fee-based volume growth is 1,400 More steady and very significant, than 1 Bcf/d but 1,200 Laurel Mountain Midstream Production…
Williams (WMB) A PDH project that makes perfect sense 50 Widening PGP-to-propane Volumes from spread in Canada will result in expansions and great natural hedge for 40 future upgraders Williams growing propane Existing…
Williams (WMB) and Williams Partners L.P. (WPZ) Planned Geismar dropdown gives WPZ robust, 1-of-a-kind MLP cash flow generator 600MM lb expansion in late Geismar Segment Profit, DD&A and Capex (midpoint of guidance, dollars in…
Williams (WMB) Major 2012-2014 projects in guidance and on track; almost all are fee-based revenues Canada (MC&O) Petchem Services (MC&O) Boreal Pipeline in service (2Q) Geismar Expansion 3Q 13 Ethane Recovery mid-year 13 Other…
Williams (WMB) Visibility to diversity of growth Growth Capital Investments by Supply and Market Areas 2012-2014 2012-2017 10.8 - 12.2 billion 16 billion 24 billion In guidance In guidance Under negotiation In guidance Under…
Williams (WMB) Expect fee-based revenues to increase to 70% of business by 2014 WMB total gross margin* 2011 2014 Forecast 4.0 billion 5.4 billion Blues = Fee-based 1% Greens = Commodity 2% 10% WPZ - Gas Pipeline 7% 17%…
Williams (WMB) Strong, clear dividend growth and excess cash flow guidance Cash Dividends per Share Growth Illustrative Excess Cash Flow 2010-2014 CAGR of 37%* Available & Coverage Ratio* (midpoint of guidance) (millions) 1,800…
Williams (WMB) Premier energy-infrastructure investment Williams positioned to deliver shareholders high-growth, high-dividend growth Marcellus volume growth strong and steady Strong fundamentals support PDH project Planned…
Appendix 2012 The Williams Companies, Inc. All rights reserved.
Williams (WMB) and Williams Partners L.P. (WPZ) Planned Geismar drop-down benefits both WMB and WPZ Benefits to Williams Partners: Expected net equity ethane position Immediately reduces WPZ's exposure to ethane by nearly 70%;…
Williams (WMB) Geismar expansion, outlook supports robust cash generation Global supply, demand driving Ethylene prices, volumes, margins ethylene value Global demand for plastics will 2,000 0.80 continue to grow 1,800 0.70…
Williams (WMB) Geismar mitigates declining ethane to crude ratio Ethane and Ethylene Relationship to Crude 100% 90% 80% 70% % of Crude 60% 50% 40% 30% 20% 10% 0% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q…
Williams (WMB) Williams Geismar plant expected to benefit from higher ethylene prices 100% Williams (WMB) 80% 60% 40% 20% 0% February 2012 December 2012 February 2013 Spot ethylene sales Collared ethylene sales…
Williams (WMB) Growing fee-based business supports higher dividends (Midpoint of guidance, dollars in millions) 5,000 2011 2012 2013 2014 4,500 Williams Partners (WPZ) Midstream Canada 4,000 Gross Margin & Olefins 3,500…
Williams (WMB) WMB Economic Commodity Exposure for 2012-14 Equity volumes 150,000 NG NGLs 80,000 Olefins 80,000 100,000 70,000 70,000 50,000 60,000 60,000 0 50,000 50,000 Bal 2012 2013 2014 (50,000) 40,000 40,000…
Williams (WMB) Pro forma combined Midstream domestic net volume position 2Q12 WPZ Midstream Geismar Olefins 1,000 214 800 MBbl/d 600 C2 400 80 MBbl/d 12 MM Lbs C3+ C3= 200 C2 33 250 MM Lbs MBbl/d C2= C3+ -…
Williams (WMB) Dividend illustration and coverage calculation (Midpoint of guidance, dollars in millions except per share amounts) Williams positioned to provide shareholders strong dividend increases 2012 2013 2014 1…
Williams (WMB) Midstream Canada & Olefins (MC&O) Adjusted Cash Flow Available (Dollars in millions) MC&O positioned to contribute significantly to dividend growth 2012 Guidance 2013 Guidance 2014 Guidance Low Midpoint High…
WMB Non-GAAP Reconciliations 2012 The Williams Companies, Inc. All rights reserved.
WMB Non-GAAP Reconciliations WMB non-GAAP reconciliation schedule Reconciliation of Income (Loss) from Continuing Operations Attributable to The Williams Companies, Inc. to Adjusted Income (UNAUDITED) 2011 2012 (Dollars in…
WMB Non-GAAP Reconciliations Non-GAAP reconciliation schedule adjusted segment profit (loss) Reconciliation of Segment Profit (Loss) to Adjusted Segment Profit (Loss) (UNAUDITED) 2011 2012 (Dollars in millions) 1st Qtr 2nd…
WMB Non-GAAP Reconciliations Segment profit guidance reported to adjusted Dollars in millions 2012 Guidance 2013 Guidance 2014 Guidance Low Midpoint High Low Midpoint High Low Midpoint High Reported segment profit: Williams…
WMB Non-GAAP Reconciliations WMB 2012 schedule of adjustments (Dollars in millions) Segment Profit Adjustments: Wi l l i a ms Pa rtners (WPZ) Acqui s i ti on a nd tra ns i ti on-rel a ted cos ts 24 Los s rel a ted to Emi…
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