INVESTOR U P D AT E MARCH 2022 Bear Creek Plant Expansion
MISSIO N, VISIO N AND VALUES We deliver energy products and services vital to an CORE VALUES: Our Compass advancing world. We commit to a zero-incident culture for the well-being of our Safety & employees, contractors and communities…
O NEO K VS. S&P 500 A UNIQUE INVESTMENT OPPORTUNITY 372 Investment Grade Credit Rating (BBB-/Baa3) 289 Large Market Cap 167 (20 billion) High ESG Rating 142 (A or better from MSCI) Consensus EPS Growth (5% CAGR 2022-2024E) 1…
ATTRACTIVE DIVIDEND PRO FILE 1 OF 14 COMPANIES IN THE S&P 500 WITH A DIVIDEND YIELD GREATER THAN 5% S&P 500 Dividend Yield Consistent Returns to Shareholders 3.74 216 181 13% CAGR Dividends Paid 2000 - 2021 89 5.8% 14…
INTEG RATED. RELIABLE. DIVERSIFIED. Competitively positioned key asset locations and market share Approximately 40,000-mile network of natural gas liquids (NGL) and natural gas pipelines Greater than 10 Bcf/d (or 10%) of U.S.…
INVESTMENT THESIS A PREMIER ENERGY INFRASTRUCTURE COMPANY ONEOKs Competitive Position Key Priorities Operating Market Share Connectivity Operate safely and environmentally Leverage 1 responsibly Strategic assets in NGL Fully…
PRO VEN G RO WTH THRO UG H CO MMO DITY CYCLES Sustainable EBITDA Growth ( in millions) 100 4,000 WTI(a) COVID-19 3,620 75 3,000 HISTORICAL STRENGTH 8 consecutive years of EBITDA growth 13% annual EBITDA growth (2013-2021) 50…
DELIVERING THE ENERG Y THAT IMPRO VES O UR LIVES COMMON USES OF NATURAL GAS AND NGLS Natural Gas: The lowest-emission hydrocarbon-based fuel, producing inexpensive, reliable and clean energy. Electricity Generation Heating and…
BUSINESS SEG MENTS 2022 GUIDANCE N AT U R A L G A S L I Q U I D S N AT U R A L G A S G AT H E R I N G N AT U R A L G A S P I P E L I N E S AND PROCESSING 10% 25% 2022 ADJUSTED 60% EBITDA GUIDANCE EARNINGS MIX 90% fee based…
NATURAL G AS LIQ UIDS ONE OF THE LARGEST INTEGRATED NGL SERVICE PROVIDERS Provides fee-based gathering, fractionation, transportation, marketing and storage services linking key NGL market centers Expect 2022 earnings to be 90% fee…
NATURAL G AS LIQ UIDS REGIONAL VOLUME UPDATE Average Raw Feed Throughput Volumes(a) Average Bundled Region Third Quarter 2021 Fourth Quarter 2021 11% increase in total average NGL volumes compared Rate (per gallon) with 2020. Rocky…
STRO NG NATURAL G AS LIQ UIDS VO LUME RECO VERY Rockies Region NGL Raw Feed Throughput (bpd) Capacity Expandable to 540,000 bpd Minimal capital needed to further 100,000 expand Elk Creek Pipeline with pump stations to meet future…
G LO BAL NG L DEMAND O UTLO O K DIVERSE USES DRIVE DEMAND GROWTH Global NGL Demand Forecast (Million bpd) LPG Ethane NGL Demand Growth Drivers 20 Ethane Liquified Petroleum Gas (LPG) 16 Petrochemical Demand Residential…
ETHANE RECO VERY ECO NO MICS ONEOKS NGL INFRASTRUCTURE CONNECTS SUPPLY WITH THE GULF COAST MARKET Increasing ethane prices drive improving recovery economics. Incremental ethane opportunity for ONEOK by region(a): Mid-Continent:…
NATURAL G AS G ATHERING AND PRO CESSING SERVING PRODUCERS IN KEY BASINS Provides gathering, compression, treating and processing services to producers. Expect 2022 earnings to be 80% fee based Primarily fee-based contracts 15% 13%…
NATURAL G AS G ATHERING AND PRO CESSING REGIONAL VOLUME UPDATE G a t h e r e d Vo l u m e s (MMcf/d) Rocky Mountain: Rocky Mountain Mid-Continent 21% increase in processed volumes compared with 2020. 2,065 2,090 2,370 324 wells…
WILLISTO N BASIN PRO DUCTIO N EFFICIENCY Rising Gas-to-Oil Improved Drilling Increased Coordination Between and Completion Producers & Midstream Operators Ratios (GORs) Technologies Driving Higher Gas Capture 3.5 Basin-wide…
WILLISTO N BASIN PRO DUCTIO N RISING GAS-TO-OIL RATIOS (GORS) AND GAS CAPTURE PRESENT OPPORTUNITIES Williston Basin GORs have Statewide flaring has decreased from increased 80% since 2016. 36% in 2014 to 7% in January 2022. 3,500 3.00…
LIMITED ACTIVITY NEEDED TO MAINTAIN VO LUMES ONEOK Illustrative Williston Basin D e d i c a t e d G r o s s P r o d u c t i o n (a) 1,750 45 average well completions per month 1,500 35 average well completions per month Flared…
I N C R E A S I N G G O R S R E S U LT I N N AT U R A L G A S V O L U M E G R O W T H 1,600,000 1.5 MMBOPD Flat 1,400,000 1.4 MMBOPD Flat 1.3 MMBOPD Flat 1,200,000 1.2 MMBOPD Flat ND Oil, BOPD April 2021 Flat Oil Prod.…
WILLISTO N BASIN PRO DUCTIO N INCREASING PRODUCTION WITH FEWER RIGS AND IMPROVING WELL PERFORMANCE North Dakota Natural Gas Performance North Dakota Crude Oil Performance 600,000 (Average Well Production, Mcf) 250,000 (Average Well…
NATURAL G AS PIPELINES CONNECTIVITY TO KEY MARKETS Provides fee-based natural gas transportation and storage services, and direct connectivity to end-use markets Expect 2022 earnings to be 95% fee based Connected directly to end-use…
NATURAL G AS PIPELINES MARKET CO NNECTED Intrastate Pipeline System Interstate Pipeline System Connectivity between key markets Bi-directional between Mid-Continent and Permian Basin; Mexico markets; Gulf Coast market through pipeline…
2022 FINANCIAL G UIDANCE 2022 Guidance Range 2022 Guidance Drivers ( in millions, except per share amounts) Higher Rocky Mountain region natural gas Net income 1,550 1,830 and NGL volumes Diluted earnings per common share 3.45 4.07…
2022 FINANCIAL G UIDANCE NON-GAAP RECONCILIATION 2022 Guidance Ranges ( in millions) Reconciliation of net income to adjusted EBITDA Net income(a) 1,550 - 1,830 Interest expense, net of capitalized interest 705 - 685 Depreciation…
E N V I R O N M E N TA L , SOCIAL AND GOVERNANCE (ESG) Arbuckle II Pipeline completed restoration Oklahoma
ESG PERFO RMANCE AND REPO RTING ESG Ratings and Rankings ONEOK received an MSCI ESG Rating CDP of AA Top 30% As of 2021 U.S. and Canada Oil and Gas sector (C rated) 5 out of 57 companies assessed in the ONEOKs ESG Risk Rating…
O NEO KS SUSTAINABILITY JO URNEY MILESTONES ON OUR PATH TO CONTINUOUS IMPROVEMENT 2010 2007 2009 2010 2014 2017 2018 2019 2020 2021 Formed ESH 1st ESG report GRI reporting Added Formed new Conducted first Established ESG…
ESG INITIATIVES AND PRACTICES - HIG HLIG HTS COMMITTED TO SAFETY & OUR PEOPLE & EFFECTIVE GOVERNANCE THE ENVIRONMENT COMMUNITIES & OVERSIGHT Absolute emissions reduction target: 8 million contributed to local Diverse board of directors:…
ABSOLUTE EMISSIONS REDUCTION TARGET Total 2019 Scope 1 & 2 Emissions (MMT CO2e) Carbon Dioxide Electricity Emissions Reduction Opportunities (CO2e) Consumption Electrification of natural gas 3.1 3.0 30% Reduction compression…
INNO VATIO N AND INFRASTRUCTURE PROJECTS TO REDUCE EMISSIONS ONEOK is helping lead efforts The use of electric powered ONEOK interconnects with to reduce natural gas flaring compressors provides an renewable natural gas (RNG) in the…
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