Williams Companies, Inc. (the) · NYSE:WMB

Williams Companies, Inc. (the) — The Williams Companies — Q4 2015 Earnings Presentation

13 slides from Williams Companies, Inc. (the)'s earnings presentation, Feb 18, 2016

  1. Slide 1: Williams and Williams Partners Fourth Quarter Earnings Call

    Williams and Williams Partners Fourth Quarter Earnings Call February 18, 2016

  2. Slide 2: Fourth Quarter 2015 Summary

    Fourth Quarter 2015 Summary  WPZ adjusted EBITDA of $1.06 billion, up 25% vs 4Q 2014  WPZ DCF of $718 million, coverage ratio 0.99x – Quarterly cash distribution coverage ratio before benefit of $209 million IDR waiver resulting from WMB-WPZ merger termination fee – Coverage of 1.39x with benefit

  3. Slide 3: Key Customer Relationship: Chesapeake Energy

    Key Customer Relationship: Chesapeake Energy  Long-term acreage dedications in nation’s best shale resources with premier operator  Physically connected to wellhead/pad across all basins  Wellhead/pad gathering systems provide unique and only path to multiple-option markets  Current contract IRR

  4. Slide 4: Continued Strong Operating Performance and Project Execution

    Continued Strong Operating Performance and Project Execution RECENT DEVELOPMENTS  Transco: Leidy SE: Final segment in-service January 2016  Transco: Gulf Trace: FERC approval received for 1.2 Bcf/d expansion serving Sabine Pass LNG facility, construction underway with target in-service 1Q 2017  T

  5. Slide 5: 2016 Capital Plan Focused on Demand Pull Interstate Pipeline Projects

    2016 Capital Plan Focused on Demand Pull Interstate Pipeline Projects 2016 Growth Capital Plan: $2.1 Billion (a) Major Components of Atlantic-Gulf Spend Regulated • Atlantic Sunrise • Constitution • Dalton Lateral 30% Atlantic Gulf • Garden State • Gulf Trace LNG All Other • Hillabee • Leidy SE • Vi

  6. Slide 6: Strong 4Q Performance, 2016 Capital Focused on Fully-Contracted Interstate Pipeline Growth

    Strong 4Q Performance, 2016 Capital Focused on Fully- Contracted Interstate Pipeline Growth  Fourth quarter results demonstrate resilience of fee-based assets with significant demand-side growth – Approximately 93% of WPZ YTD gross margin from fee-based revenues – Continued growth in Atlantic-Gulf

  7. Slide 7: Forward Looking Statements

    Forward Looking Statements

  8. Slide 8: Forward Looking Statements

    Forward Looking Statements  The reports, filings, and other public announcements of The Williams Companies, Inc. (Williams) and Williams Partners L.P. (WPZ) may contain or incorporate by reference statements that do not directly or exclusively relate to historical facts. Such statements are “forwar

  9. Slide 9: Forward Looking Statements (cont’d)

    Forward Looking Statements (cont’d) – Disruption from the proposed ETC Merger making it more difficult to maintain business and operational relationships; – The risk that unexpected costs will be incurred in connection with the proposed ETC Merger; – The possibility that the proposed ETC Merger does

  10. Slide 10: WPZ Non-GAAP Reconciliations

    WPZ Non-GAAP Reconciliations

  11. Slide 11: WPZ Non-GAAP Disclaimer

    WPZ Non-GAAP Reconciliations WPZ Non-GAAP Disclaimer  This presentation includes certain financial measures – adjusted EBITDA, distributable cash flow, and cash distribution coverage ratio – that are non-GAAP financial measures as defined under the rules of the Securities and Exchange Commission. 

  12. Slide 12: Reconciliation of Non-GAAP distributable cash flow to GAAP net income

    WPZ Non-GAAP Reconciliations Reconciliation of Non-GAAP distributable cash flow to GAAP net income 12

  13. Slide 13: Reconciliation of Non-GAAP distributable cash flow to GAAP net income cont’d

    WPZ Non-GAAP Reconciliations Reconciliation of Non-GAAP distributable cash flow to GAAP net income cont’d 13

The Williams Companies — Q4 2015 Earnings Presentation on 6ix