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Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc.

Williams Companies, Inc. · Feb 11, 2020 · 34 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. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 1
    NYSE: WMB www.williams.com Wells Fargo 18th Annual Midstream and Utility Symposium John Chandler, SVP and Chief Financial Officer December 11, 2019 Erica B. Operations Supervisor
  2. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 2
    Natural gas: Low emissions and low cost Pounds of CO2 per MMBtu Winter 2019-2020 Primary Residential Space Natural gas has Heating Fuel in /MMBtu lowest CO2 emissions to heat content ratio Natural Gas 9.66 when compared to…
  3. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 3
    U.S. natural gas demand growth has been strong and is expected to continue United States Natural Gas Cumulative Demand Growth By Sector (1525) 40 EXPECTED GROWTH 18-25 35 Total Demand LNG Exports, +13.3 Bcf/d 30 3.9% CAGR 15 25…
  4. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 4
    Market relies heavily on Northeast to meet demand U.S. Natural Gas Production Totaling 89 Bcf/d By Region (Nov. 18 Oct. 19) 30 25 20 65% From gas- Bcf/d 15 directed drilling 10 5 0 Growth over Last Decline over…
  5. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 5
    Robust demand growth and well declines drive new U.S. production U.S. Natural Gas Production Declines + New Production Required to Meet Robust Demand Growth (1928) 120 100 80 +75 Bcf/d of incremental Bcf/d 60 natural gas…
  6. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 6
    Business performance tied to contracted transmission capacity and gathering volume Williams Quarterly Adj. EBITDA vs. Contracted Transmission Capacity and Gathering Volumes (15-19) Geismar sale FCA sale Canada sale Sept. 2016 July…
  7. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 7
    Williams assets are well-positioned to serve natural gas volumes Operating in More than 14 600 critical basins customers Nations Handling largest 30% transmission of nations system natural gas WILLIAMS 2019 The…
  8. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 8
    Extensive portfolio of reliable assets connecting sources of supply to demand markets WEST SEGMENT Broad portfolio of G&P assets Wamsutter Southwest Wyoming Piceance Connecting Western NGL supplies to Gulf Coast markets DJ…
  9. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 9
    Positioned to serve significant natural gas supply growth NORTHEAST G&P SEGMENT Largest gatherer in nations largest gas supply basin Capturing the value of significant investment Flexible business with ability to respond to…
  10. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 10
    Irreplaceable infrastructure with low-risk revenue stream ATLANTIC-GULF SEGMENT Transco, the nations largest interstate natural gas network Significant Transco growth opportunities Extensive Deepwater infrastructure capturing…
  11. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 11
    Natural gas replacing coal-fired power generation remains key opportunity for Transco Regional Coal-fired Power Plant Nameplate Capacity (in Megawatts) 26,620 20,444 14,047 11,452 8,521 8,635 Mid- Florida Gulf Coast…
  12. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 12
    Transco is the premier transmission provider to growing LNG market Williams asset map, showing Transco Natural Gas Flows Serving third-party LNG facilities LNG Facilities In Bcf/d (Jan. 17 Nov. 19) 2.25 Elba Island Corpus Christi…
  13. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 13
    Significant Atlantic-Gulf transmission growth opportunities PROJECT BACKLOG PROJECTS IN EXECUTION 3.2B of Project Target In-service Type of Project Opportunities Gateway 4Q 19 Transporting Natural Gas to Power Generation…
  14. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 14
    Existing Deepwater infrastructure positions Williams for future growth Map of Williams Deepwater Assets, Projects & Opportunities MS AL COMPLETED PROJECTS FL LA TX First production of Shell Appomattox/Norphlet Esox & Fieldwood…
  15. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 15
    Significant improvement in key financial metrics 2-Year Key Financial Metrics 2017 2018 2019 CAGR Cash Cash Flow from Operations 3,089 3,293 3,700 9.4% Flow Metrics: Distributable Cash Flow (DCF) 2,580 2,872 3,100 (1) 9.6%…
  16. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 16
    Stable and diversified EBITDA, limiting exposure to any one basin and creating numerous growth opportunities Stable EBITDA Growth 19 EBITDA By Franchise(2) 5,000 SUSQUEHANNA SUPPLY HUB, 10% OHIO RIVER SUPPLY HUB, 6% 4,000 EAGLE…
  17. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 17
    Our business remains substantially fee-based, with limited volatility 2020 Gross Margin (1) 2% 98% Gross Margin from Fee-based Revenue Gas & Liquids Transportation Deepwater 27% Minimum Volume Commitments (MVCs) & other…
  18. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 18
    Excess cash flow and asset sales have provided substantial source of funding for expansion capital No Equity Issuance Required to Fund Forecasted Growth Capital Excess Cash Available After Dividends to Be Used to Fund Growth CapEx (…
  19. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 19
    Williams financial guidance FINANCIAL METRIC 2019 GUIDANCE 2020 GUIDANCE % % CHANGE CHANGE (midpoint) Net Income 1.100 - 1.400 Bn 1.200 - 1.500 Bn 8% Adjusted Diluted EPS 0.83 - 1.07 0.95 - 1.20 14% Adjusted EBITDA 4.850 -…
  20. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 20
    Williams is a large-scale, low-volatility and growing natural gas infrastructure company LARGE, GROWING, UNIQUE GROWING, SOLID BALANCE NATURAL GAS INVESTMENT HIGH-QUALITY SHEET & DIVIDEND COMPANY CASH FLOWS COVERAGE OPPORTUNITY…
  21. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 21
    NYSE: WMB www.williams.com Forward Looking Statements Erica B. Operations Supervisor
  22. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 22
    Forward-looking statements (contd) The strength and financial resources of our competitors and the effects of competition; Whether we are able to successfully identify, evaluate, and timely execute our capital projects and investment…
  23. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 23
    NYSE: WMB www.williams.com Non-GAAP Reconciliations Erica B. Operations Supervisor
  24. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 24
    Reconciliation of Net Income (Loss) to Modified EBITDA and Non-GAAP Adjusted EBITDA 2015 2016 2017 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year…
  25. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 25
    Reconciliation of Income (Loss) Attributable to The Williams Companies, Inc. to Adjusted Income 2015 2016 2017 (Dollars in millions, except per-share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year…
  26. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 26
    Reconciliation of Income (Loss) Attributable to The Williams Companies, Inc. to Adjusted Income (cont) 2015 2016 2017 (Dollars in millions, except per-share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr…
  27. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 27
    Reconciliation of Income (Loss) Attributable to The Williams Companies, Inc. to Adjusted Income 2018 2019 (Dollars in millions, except per-share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr Year Income (loss)…
  28. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 28
    Reconciliation of Income (Loss) Attributable to The Williams Companies, Inc. to Adjusted Income (cont) 2018 2019 (Dollars in millions, except per-share amounts) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr Year Other…
  29. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 29
    Reconciliation of Net Income to Modified EBITDA, Adjusted EBITDA and Distributable Cash Flow 2018 2019 (Dollars in millions, except coverage ratios) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr Year The Williams…
  30. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 30
    Reconciliation of Modified EBITDA to Non- GAAP Adjusted EBITDA 2018 2019 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr Year Net income (loss) 270 269 200 (546) 193 214 324 242 780 Provision…
  31. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 31
    Reconciliation of GAAP Net Income (Loss) to Non-GAAP Modified EBITDA, Adjusted EBITDA and Distributable cash flow (Dollars in millions, except coverage ratios) 2017 2018 The Williams Companies, Inc. Reconciliation of GAAP Net Income…
  32. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 32
    Reconciliation of GAAP net income (loss) to modified EBITDA, Non-GAAP adjusted EBITDA and distributable cash flow (DCF) ( in millions, except per-share amounts and coverage ratios) 2019 GUI DANCE 2020 GUI DANCE Low Mid High Low Mid High…
  33. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 33
    Reconciliation of GAAP net income (loss) to Non-GAAP adjusted income attributable to the Williams Companies ( in millions, except per-share amounts and coverage ratios) 2019 GUI DANCE 2020 GUI DANCE Low Mid High Low Mid High Net…
  34. Wells Fargo 18th Annual Midstream and Utility Symposium – Williams Companies, Inc. – slide 34
    Calculation of return on invested capital ( in millions) Increase in EBITDA 2016-2019 2019 EBITDA guidance 5,000 2016 EBITDA 4,436 Less EBITDA of assets sold (336) 2016 EBITDA of retained assets 4,100 Increase in EBITDA…

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