The Williams Companies, Inc.

Group-level rollup across Transmission, Power & Gulf; Northeast G&P; West; Gas & NGL Marketing Services; and Other (including upstream). Williams owns an interest in and operates over 32,000 miles of pipelines in 24 states and the Gulf of America, 35 natural gas processing facilities and 9 NGL fractionation facilities. 2026 growth capital and investment expenditures expected at $6.1-$6.7 billion, excluding acquisitions and certain customer-backed long-lead power equipment. Approximately 5,987 full-time employees.

Segment rollup of natural gas and NGL marketing: asset management, wholesale marketing, trading, storage and transportation for utilities, municipalities, power generators and producers, plus marketing of equity and third-party NGLs. 2025 Modified EBITDA of $311 million (2024: $(124) million; 2023: $950 million). Includes the March 2025 minority equity-method investment in Cogentrix. In 2025 the three largest NGL marketing customers accounted for ~42% of NGL marketing sales.

Segment rollup of natural gas gathering, compression, processing and NGL fractionation businesses in the Marcellus and Utica Shale regions of Pennsylvania, West Virginia, New York and Ohio. 2025 Modified EBITDA of $2,028 million (2024: $1,958 million; 2023: $1,916 million). Consolidated 2025 plant inlet volumes of 1.89 Bcf/d; non-consolidated operated equity-method investments added 6.73 Bcf/d of gathering, 1.10 Bcf/d of plant inlet and 75 Mbbls/d of NGL production.

Segment rollup comprising interstate natural gas pipelines (Transco, NWP, MountainWest), market-based rate storage (Gulf Coast Storage, NorTex), Gulf of America gathering, processing, crude transportation and production handling, Power Innovation projects, and investments in Louisiana LNG, Driftwood Pipeline and Gulfstream. 2025 Modified EBITDA of $3,720 million (2024: $3,273 million; 2023: $3,068 million). 2025 gathering volumes 0.72 Bcf/d and plant inlet volumes 0.93 Bcf/d.

Upstream crude oil and natural gas properties in the Wamsutter basin acquired in February 2021; after acquiring third-party operator Crowheart Energy, LLC in November 2024, Williams is the operator and owns more than a 90% working interest in each well. Williams is investing capital in the development of the Wamsutter properties. Other-segment 2025 net product sales (including South Mansfield): natural gas 0.29 Bcf/d, NGLs 11 Mbbls/d, crude oil 7 Mbbls/d.

Minority equity-method interest purchased in March 2025 for $153 million in Cogentrix Co-Investment Fund, LP, which owns interests in 11 natural gas power plants, held within the Gas & NGL Marketing Services segment.

Market-based rate storage portfolio of six underground storage facilities with approximately 120 Bcf of capacity and approximately 230 miles of natural gas transmission pipelines across Louisiana and Mississippi, with direct access to LNG export facilities and interstate pipelines. The Pine Prairie Phase IV expansion (certificate application filed August 2025) is expected to add 10 Bcf of working gas capacity by Q4 2028.

Market-based rate storage assets comprising approximately 94 miles of natural gas transmission pipelines and 37 Bcf of natural gas storage in the Dallas-Fort Worth market, providing gas supply to north Texas power generation and storage services for Permian gas directed toward Gulf Coast LNG demand.

Approximately 9,600-mile FERC-regulated interstate natural gas system extending from Texas, Louisiana, Mississippi and the Gulf of America to the New York City metropolitan area, serving 12 southeast and Atlantic seaboard states. 62 compressor stations with ~2.7 million sea-level-rated horsepower. 2025 expansions placed in service: Commonwealth Energy Connector (105 Mdth/d), Alabama Georgia Connector (64 Mdth/d), Texas to Louisiana Energy Pathway (364 Mdth/d of new firm service) and Southeast Energy Connector (150 Mdth/d). December 2025 FERC-approved rate case settlement effective March 1, 2026 with a rate moratorium to August 31, 2027 and a new rate case required by August 30, 2030. Three largest customers were ~22% of 2025 operating revenues.

100%-owned FERC-regulated interstate natural gas transmission company operating an approximately 2,200-mile system in the Rocky Mountains near six producing areas, including the Greater Green River, Uinta and Piceance basins. Comprises MountainWest Pipeline, LLC; MountainWest Overthrust Pipeline, LLC; a 50% equity-method interest in White River Hub, LLC; and 64 Bcf of natural gas storage capacity including the Clay Basin underground reservoir in Utah. The Overthrust Westbound Compression expansion entered service in November 2025, adding approximately 325 Mdth/d of firm capacity.

Approximately 3,900-mile FERC-regulated interstate natural gas system extending from the San Juan basin in New Mexico and Colorado through the Rockies to the Canadian border near Sumas, Washington, serving the Pacific Northwest. 42 transmission compressor stations (~476,000 hp). Owns a one-third undivided interest in the Jackson Prairie underground storage facility and an LNG storage facility in Washington (aggregate ~10 Bcf working capacity), plus ~3 Bcf contracted at Clay Basin. 2025 Stanfield South expansion added 80 Mdth/d of contracted capacity. Subject to Washington State Climate Commitment Act cap-and-invest. Three largest customers were ~52% of 2025 revenues.

Operated 50%-owned joint venture in the Utica Shale and adjacent Marcellus areas with 639 miles of gathering pipelines (2.0 Bcf/d), the Natrium complex in Marshall County, West Virginia (800 MMcf/d cryogenic processing; ~134 Mbbls/d fractionation; ~220,000 barrels of NGL storage), the Berne complex in Monroe County, Ohio (400 MMcf/d cryogenic processing), and 102 miles of NGL and condensate pipelines connecting Natrium to Berne. Services provided primarily under percent-of-liquids and fixed-fee agreements, certain with MVCs.

100%-owned Central Gulf of America system comprising 594 miles of gas gathering pipelines (0.6 Bcf/d inlet capacity), the Larose, Louisiana processing facility (0.6 Bcf/d inlet; 35 Mbbls/d NGL production capacity), a production handling platform (75 MMcf/d gas inlet; 10 Mbbls/d crude/NGL handling), and fractionation/marketing at the Paradis plant. The Deepwater Shenandoah project, in service July 2025, connects the Shenandoah platform via the Keathley Canyon Connector and added onshore processing at Larose.

Greenfield treating and dehydration facility to be constructed and operated by Williams with a capacity of 400 MMcf/d; expected in service in the third quarter of 2027.

Construction of the Socrates North and South onsite power generation facilities and associated gas pipeline infrastructure in New Albany, Ohio, providing a combined 400 MW of onsite power generation capacity to a large, investment-grade customer under a 10-year, primarily fixed-price power purchase agreement with extension options. Ohio Power Siting Board approval received for the generation facilities; pipeline approval expected in the first half of 2026. Planned in service in the third and fourth quarters of 2026.

Operated 50%-owned NGL pipeline capable of transporting 245 Mbbls/d across 1,035 miles from Opal, Wyoming to the Mid-Continent NGL market center near Conway, Kansas, with extensions into the Piceance and DJ basins and a connection receiving Bakken and Powder River basin NGLs. Equity NGL volumes from Williams' Wyoming and certain Colorado plants are dedicated under long-term transportation agreements.

Floating production system in the Eastern Gulf of America with 172 MMcf/d of gas inlet capacity and 80 Mbbls/d of crude/NGL handling capacity. Williams previously owned 51% of Gulfstar One LLC and acquired the remaining interest in December 2025, bringing ownership to 100%.

Eastern Gulf of America crude oil pipeline of 155 miles including the Blind Faith and Gulfstar extensions.

135 Mbbls/d NGL fractionation facility and approximately 970,000 barrels of NGL storage capacity in Harrison County, Ohio, plus 44 Mbbls/d of condensate stabilization capacity and ancillary loading and terminal facilities in Harrison, Carroll and Columbiana Counties, Ohio.

100%-owned production handling platform in the Eastern Gulf of America providing compression, separation, production handling, water removal and pipeline landings, with 110 MMcf/d of gas inlet capacity and 60 Mbbls/d of crude/NGL handling capacity.

Interests in and/or operation of NGL fractionation and storage assets in central Kansas near Conway, including a 50% interest in an NGL fractionation facility with capacity of slightly more than 100 Mbbls/d, approximately 22 million barrels of NGL storage capacity, and a 189-mile NGL pipeline from Conway to an interconnection with a third-party NGL pipeline system in Oklahoma.

Western Gulf of America crude oil pipeline of 57 miles.

Western Gulf of America crude oil pipeline of 96 miles.

43 Mbbls/d NGL fractionation facility at Moundsville, West Virginia, with nearby condensate stabilization facilities capable of handling approximately 17 Mbbls/d of field condensate, an ethane pipeline and a 60-mile NGL pipeline within the Northeast G&P NGL value chain.

Expansion of storage capacity and injection/withdrawal capabilities at one of Williams' existing Gulf Coast storage facilities; certificate application filed with the FERC in August 2025; planned in service Q4 2028.

Consolidated natural gas gathering system of approximately 978 pipeline miles with 5.6 Bcf/d of inlet capacity. Reflects the Haynesville Gathering Expansion completed September 2025 and the Saber Asset Purchase of June 2025.

Consolidated gathering system in the dry-gas window of the Marcellus Shale. Approximately 506 miles of gathering pipeline with 4.6 Bcf/d of inlet capacity in the Appalachian basin.

Operated equity-method gathering system within Appalachia Midstream Investments (~66% average interest); long-term, 100% fixed-fee agreements with significant acreage dedications. Approximately 755 miles of gathering pipeline with 4.4 Bcf/d of inlet capacity in the Appalachian basin.

Consolidated natural gas gathering system of approximately 179 pipeline miles with 1.8 Bcf/d of inlet capacity. Greenfield gathering system placed into service in July and August 2025, adding 1.8 Bcf/d of gathering capacity delivering Haynesville gas to premium markets including Transco, industrial markets and Gulf Coast LNG export demand.

Consolidated natural gas gathering system of approximately 352 pipeline miles with 1.8 Bcf/d of inlet capacity.

Transco expansion from receipt points in Virginia to delivery points in Virginia, North Carolina, South Carolina, Georgia and Alabama; FERC approval received January 2026; in service as early as Q3 2027.

Operated equity-method gathering system within Appalachia Midstream Investments (~68% average interest); certain agreements carry minimum volume commitments. Approximately 353 miles of gathering pipeline with 1.5 Bcf/d of inlet capacity in the Appalachian basin.

50% equity-method investment in a 745-mile interstate natural gas pipeline extending from the Mobile Bay area in Alabama to markets in Florida. Operating responsibilities are shared with the other 50% owner. Non-consolidated 2025 throughput of 1.2 MMdth/d (100% basis).

Consolidated natural gas gathering system of approximately 572 pipeline miles with 1.0 Bcf/d of inlet capacity. Includes the Rimrock assets purchased January 31, 2025.

100%-owned natural gas processing facility with 1.0 Bcf/d of inlet capacity and 5 Mbbls/d of NGL production capacity.

Operated 69%-owned joint venture gathering system in western Pennsylvania with a long-term, dedicated volumetric-based fee agreement (with a natural gas price floor) serving the anchor customer. Approximately 1151 miles of gathering pipeline with 0.9 Bcf/d of inlet capacity in the Appalachian basin.

Consolidated rich-gas gathering system held through Williams' 65% ownership of the Northeast JV. Approximately 200 miles of gathering pipeline with 0.8 Bcf/d of inlet capacity in the Appalachian basin.

100%-owned natural gas processing facility at Coden, Alabama serving Eastern Gulf of America supply, with 0.7 Bcf/d of inlet capacity and 35 Mbbls/d of NGL production capacity.

100%-owned natural gas processing facility with 0.7 Bcf/d of inlet capacity and 39 Mbbls/d of NGL production capacity.

Consolidated natural gas gathering system of approximately 2251 pipeline miles with 0.7 Bcf/d of inlet capacity.

Consolidated Utica Shale gathering system held through Williams' 66% ownership of Cardinal Gas Services, L.L.C. Approximately 468 miles of gathering pipeline with 0.7 Bcf/d of inlet capacity in the Appalachian basin.

Transco expansion providing incremental firm transportation capacity in Virginia; FERC application planned as early as Q2 2027; in service as early as Q3 2030.

Consolidated natural gas gathering system of approximately 1258 pipeline miles with 0.6 Bcf/d of inlet capacity.

100%-owned natural gas processing facility with 0.6 Bcf/d of inlet capacity and 48 Mbbls/d of NGL production capacity.

Cryogenic natural gas processing facility in the Appalachian basin held through the 65%-owned Northeast JV, with 0.6 Bcf/d of inlet capacity and 68 Mbbls/d of NGL production capacity.