Williams Virtual ESG Event January 19, 2021 WILLIAMS 2021 The Williams Companies, Inc. All rights reserved. NYSE: WMB I Williams Virtual ESG Event I NYSE: WMB 1/19/2021 www.williams.com I www.williams.com 0
CEO Perspective Alan Armstrong, President and Chief Executive Officer NYSE: WMB www.williams.com
Large-scale, irreplaceable natural gas infrastructure Handling Directly Serving 30% nations 600 natural gas customers Wamsutter 1.26 million MT Southwest Wyoming Indirectly Piceance DJ Basin Marcellus CO2 avoided serving…
Sustainable strategy driven by long-term trend of natural gas demand growth OUR MISSION Committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy…
Natural gas remains a global fuel for the WILLIAMS 2021 The Williams Companies, Inc. All rights reserved. future NYSE: WMB I Williams Virtual ESG Event I 1/19/2021 I www.williams.com 4
Strong performance across several key ESG ratings and rankings Williams ESG Risk Rating places it in the Ranked in the top 7% of industry peer top 3% of the Refiners and Pipelines group and included in Dow Jones industry assessed…
Leading ESG efforts with relentless commitment to sustainable operations and increased disclosures Joined ONE Announced Solar Joined RNG Future Coalition Project Initiative Coalition June 2019 May 2020 Alan Armstrong CDP Climate…
Sustainability Highlights Debbie Cowan, SVP and Chief Human Resources Officer Lane Wilson, SVP and General Counsel Micheal Dunn, EVP and Chief Operating Officer NYSE: WMB www.williams.com
Authentic Building a culture of authenticity leads to a collective mindset that transcends differences. This allows for inclusion, acceptance and, ultimately, belonging. Debbie Cowan, Senior Vice President & Chief Human Resources…
Social performance 29% of our management team is female or ethnic minority CEO Action for Diversity & Inclusion Coalition Year over year from 2019-2020, our female leadership representation increased from 16% to Jennifer H. 19%;…
Reliable Performers We stand behind our reputation as a dependable and trustworthy business that delivers on its promises and is committed to strong corporate governance. Lane Wilson, Senior Vice President & General Counsel…
Long history of strong corporate governance Williams recognized as a Trendsetter in political disclosure practices and accountability in the 2020 CPA-Zicklin Index 12 of 13 Williams Board members are independent A gender diverse…
Safety Driven Safeguarding our people and neighbors is engrained in our culture and fundamental to everything we do. Micheal Dunn, Executive Vice President & Chief Operating Officer WILLIAMS 2021 The Williams Companies, Inc. All…
COVID-19 response minimizes disruption to our business Utilizing existing centralized emergency call numbers for employee self-reporting of symptoms or potential exposure to COVID-19 Following CDC guidance for contact tracing and…
Safety is core to our operations Williams TRIR vs. Industry Williams Process Safety Incident Trend Since 2017 Since 2017 -50% -72% 2017 2018 2019 2017 2018 2019 Represents industry benchmark Note: Total Recordable…
Focus on public safety drives our reputation as a reliable operator 2 0 1 9 S U S TAI N A B I L I T Y R E P O R T H I G H L I G H T S 811 One Call Public Awareness Emergency Preparedness Extensive line marking Mailed more than 1…
Responsible Stewards We are dedicated to strengthening our communities and to protecting the environment. Micheal Dunn, Executive Vice President & Chief Operating Officer WILLIAMS 2021 The Williams Companies, Inc. All rights…
Stakeholder outreach 2 0 1 9 S U S TAI N A B I L I T Y R E P O R T H I G H L I G H T S Conducted 40 meetings with Native American tribes Hosted more than 100 community engagements Maintained relationships with more than…
Environmental reporting 2 0 1 9 S U S TAI N AB I L I T Y R E P O R T H I G H L I G H TS Established 20 goal to 60% 10% 60% reduction in reduce reportable air environmental notices of releases by an additional non-compliance…
Climate Commitment Alan Armstrong, President and Chief Executive Officer Micheal Dunn, EVP and Chief Operating Officer NYSE: WMB www.williams.com
Key climate commitment drivers As a midstream industry leader, Williams believes we can successfully sustain and evolve our business as the world moves to a low carbon future, while also helping our customers and stakeholders meet…
Committed to a clean energy future Williams recognizes the risks of climate change and our strategy provides a practical and immediate path to reduce industry emissions and grow a clean energy economy Right Here, Right Now…
Significant improvements in emissions efficiency Williams greenhouse gas emissions vs. natural gas handled Significant growth since 2005 40 22.6 25 34.4 Transmission capacity up over 100% 35 Greenhouse Gas Emissions (Million…
Our strategy provides a practical and immediate path to reduce industry emissions Williams Path To 56% Absolute Reduction In Company-wide Greenhouse Gas Emissions By 2030 Measured In Million Metric Tons Of Carbon Dioxide Equivalent…
Our path to net zero by 2050 involves a combination of immediate and long-term solutions POTENTIAL % REDUCTION* Reduce methane through work practices; Voluntary Leak Detection Elements and Repair (LDAR) and blowdown…
Innovation and Emerging Opportunities Chad Zamarin, SVP Corporate Strategic Development NYSE: WMB www.williams.com
Dedicated Renewables team to lead the way to net zero carbon emissions by 2050 Renewables team to commercially develop emerging Strategy & Market opportunities Intelligence Solar Initiative Communications Renewable Natural Gas &…
Transco best positioned to support power generation shift to gas from coal Williams U.S. Asset Map, Highlighting Third-party Operating Coal Plants 77 Equates to Coal Plants; 75 GW +11.8 Net Summer Bcf/d natural Capacity…
Leveraging our footprint to create value and new revenue generation Current Developments Solar Program Developing 13 projects, current total of 350 MW, in- Emerging Opportunities service by 2023 Identified 37 additional projects for…
Committed to a clean energy future Committed to being the leader in providing Our mission is to empower every person and infrastructure that safely delivers natural gas every organization on the planet to achieve products to…
ESG Focus Aligned with Shareholder Value John Chandler, SVP and Chief Financial Officer NYSE: WMB www.williams.com
Sustainable value creation Sustainable Capital Structure Stable Cashflows & Leverage target of 4.2x achievable in Reliable Dividend 2021 Strong cash generation and Variety of capital allocation options capital discipline provide…
Long investment horizon for capital spending Regulated gas transmission investments Executing Expansions displace carbon-heavy fuels and support intermittent renewable investments Rate base investments 3 B i l l i o n i n C a p i…
Solar opportunities generate competitive returns Total Realizable Project Return 10% - 15% Solar Project Assumptions Investment ITC based on Safe 10% to 26% Developing solar energy Tax Credit Harbor date of capital cost 2% 3%…
Fixed income market assesses low risk through 2050 3 0 - Ye a r C o r p o r a t e S p r e a d t o Tr e a s u r i e s b y S e c t o r (bps) BBB-range Credit Ratings 250 200 Long-dated bonds trade in Min / Max Range line with…
ESG efforts broaden equity investor base NUMBER OF WILLIAMS SHARES HELD BY MAJOR ESG FUNDS 1 1,000 800 Number of Shares in 000s ESG fund ownership dramatically 600 increases with increased Williams ESG disclosures &…
Closing Remarks Alan Armstrong, President and Chief Executive Officer NYSE: WMB www.williams.com
Brief Break NYSE: WMB www.williams.com
Q&A NYSE: WMB www.williams.com
Forward Looking Statements WILLIAMS 2021 The Williams Companies, Inc. All rights reserved. NYSE: WMB I Williams Virtual ESG Event I 1/19/2021 I www.williams.com 39
Forward-looking statements (contd) The ability of the members of the Organization of Petroleum Exporting Countries and other oil exporting nations to agree to and maintain oil price and production controls and the impact on domestic…
Appendix NYSE: WMB www.williams.com
Natural gas products reliably fuel our everyday lives Common Uses of Natural Gas Products WILLIAMS 2021 The Williams Companies, Inc. All rights reserved. NYSE: WMB I Williams Virtual ESG Event I 1/19/2021 I www.williams.com 44
Natural gas fulfilling 37% of global energy demand growth through 2040 Total Global Energy Consumption By Fuel 15-40 300 Global Energy +40 QBtu Or 20% Demand (QBtu) 250 +56 QBtu 772 Or 43% 619 200 -24 QBtu QBtu Or -15%…
Renewables remain a small part of the energy mix 2020 Total Global Energy Electricity only accounts Consumption by Sector 2020 Global Power Generation by Fuel Type for 20% of total end-use energy Transportation consumption…
Despite renewables capacity growth, natural gas will remain part of power generation stack Forecasted Change in Global Power Capacity Forecasted Global Power Generation per Energy Source 5,000 4,242 GW 40,000 37,107 TWh 4,000…
Natural gas plays critical role in reducing emissions Total U.S. Energy CO2 Emissions vs. Natural Gas Market Share 6,200 35% Natural Gas as % of Total Primary Energy 6,000 30% 5,800 25% Consumption 5,600 MM Tons…