NYSE: WMB williams.com WE MAKE ENERGY HAPPEN Williams 3rd Quarter Earnings Call November 1, 2018 FT LUPTON III CONSTRUCTION OAK GROVE TXP2 CONSTRUCTION DJ Basin, Colorado Oak Grove, West Virginia
THIRD QUARTER 2018 EARNINGS CALL Strong fundamentals in key investor focus areas Strong demand pull from pipeline commitments expected to drive G&P growth NORTHEAST Atlantic Sunrise startup strengthens producer economics GROWTH…
THIRD QUARTER 2018 EARNINGS CALL WMB third quarter 2018 results GAAP Measures: 3Q 2018 Net Income, Earnings Per Share, CFFO and Modified EBITDA Net Income attributable to WMB of 129 million vs. 33 million for 3Q 2017; EPS…
THIRD QUARTER 2018 EARNINGS CALL WMB year-to-date 2018 results GAAP Measures: 2018 YTD Net Income, Earnings Per Share and Modified EBITDA Net Income attributable to WMB of 416 million vs. 487 million for 2017 EPS attributable to…
THIRD QUARTER 2018 EARNINGS CALL Continued execution against natural gas strategy Recent Accomplishments 2019 Drivers Transco Leidy South expansion project announced; increasing access to the Atlantic Seaboard by Atlantic Sunrise…
THIRD QUARTER 2018 EARNINGS CALL Transco Project 2 sanctioned: Leidy South Providing access to new Northeast supplies U.S. Map of Williams Assets, Highlighting Transco Pipeline PROJECT 1 - EXPECTED ANNOUNCEMENT IN 4Q18 Extends…
THIRD QUARTER 2018 EARNINGS CALL Strong, Stable, Conservative, Growing: Williams provides a unique investment opportunity in the S&P 500 Met or exceeded Adjusted EBITDA street consensus each of the last 11 quarters(1) Median WMB vs.…
Questions 2018 The Williams Companies, Inc. All rights reserved. Williams Third Quarter Earnings Call 11/1/2018 8
Forward Looking Statements 2018 The Williams Companies, Inc. All rights reserved. Williams Third Quarter Earnings Call 11/1/2018 9
FORWARD-LOOKING STATEMENTS Forward-looking statements (contd) Risks associated with weather and natural phenomena, including climate conditions and physical damage to our facilities; Acts of terrorism, cybersecurity incidents, and…
Non-GAAP Reconciliations 2018 The Williams Companies, Inc. All rights reserved. Williams Third Quarter Earnings Call 11/1/2018 13
NON-GAAP RECONCILIATIONS Reconciliation of Income Attributable to The Williams Companies, Inc. to Adjusted Income 2017 2018 (Dollars in millions, except per-share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr…
NON-GAAP RECONCILIATIONS Reconciliation of Income Attributable to The Williams Companies, Inc. to Adjusted Income (cont) 2017 2018 (Dollars in millions, except per-share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd…
NON-GAAP RECONCILIATIONS Reconciliation of Net Income to Modified EBITDA, Adjusted EBITDA, and Distributable Cash Flow 2017 2018 (Dollars in millions, except coverage ratios) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr…
NON-GAAP RECONCILIATIONS Reconciliation of Modified EBITDA to Non-GAAP Adjusted EBITDA 2017 2018 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr Year Northeast G&P 226 247 115 231 819 250 255 281…
NON-GAAP RECONCILIATIONS WMB Reconciliation of Income Attributable to The Williams Companies, Inc. to Adjusted Income (cont) 2019 Guidance ( i n bi l l i ons , except per-s ha re a mounts ) Midpoint Net income (loss) 1.200 Less:…
NON-GAAP RECONCILIATIONS WMB Reconciliation of Net Income to Modified EBITDA and Non-GAAP Adjusted EBITDA 2018 2019 ( in billions) Guidance Guidance Low Mid High Low Mid High Net income (loss) 0.975 1.075 1.175 1.050 1.200 1.350…