The Williams Companies, Inc., together with its subsidiaries, operates as an energy infrastructure company primarily in the United States. It operates through Transmission & Gulf of Mexico, Northeast G&P, West, and Gas & NGL Marketing Services segments. The Transmission & Gulf of Mexico segment comprises Transco and Northwest natural gas pipelines; and natural gas gathering and processing, and crude oil production handling and transportation assets in the Gulf Coast region, as well as various petrochemical and feedstock pipelines. The Northeast G&P segment engages in the midstream gathering, processing, and fractionation activities in the Marcellus Shale region primarily in Pennsylvania and New York, and the Utica Shale region of eastern Ohio. The West segment comprises gas gathering, processing, and treating operations in the Rocky Mountain region of Colorado and Wyoming, the Barnett Shale region of north-central Texas, the Eagle Ford Shale region of South Texas, the Haynesville Shale region of northwest Louisiana, and the Mid-Continent region, which includes the Anadarko, Arkoma, and Permian basins; and operates natural gas liquid (NGL) fractionation and storage facilities in central Kansas near Conway. The Gas & NGL Marketing Services segment provides wholesale marketing, trading, storage, and transportation of natural gas for natural gas utilities, municipalities, power generators, and producers; risk and asset management; and NGL marketing services. The company owns and operates 30,000 miles of pipelines, 29 processing facilities, 7 fractionation facilities, and approximately 23 million barrels of NGL storage capacity. The Williams Companies, Inc. was founded in 1908 and is headquartered in Tulsa, Oklahoma.

The Williams Companies, Inc.

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Transmission & Gulf of Mexico Modified EBITDA

Transmission & Gulf of Mexico Modified EBITDA % Chg.

Northeast G&P Modified EBITDA

Northeast G&P Modified EBITDA % Chg.

West Modified EBITDA

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Gas & NGL Marketing Services Modified EBITDA

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Other Modified EBITDA

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Transmission & Gulf of Mexico Capital Expenditures

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Transmission & Gulf of Mexico Capital Expenditures Common Size

Northeast G&P Capital Expenditures

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West Capital Expenditures

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West Capital Expenditures Common Size

Gas & NGL Marketing Services Capital Expenditures

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Gas & NGL Marketing Services Capital Expenditures Common Size

Other Capital Expenditures

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Capital Expenditures

Transmission & Gulf of Mexico Revenue

Transmission & Gulf of Mexico Revenue % Chg.

Transmission & Gulf of Mexico Revenue Common Size

Northeast G&P Revenue

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West Revenue

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Gas & NGL Marketing Services Revenue

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Other Revenue

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Total Revenue

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Revenue	Sep '25	Jun '25
Transmission & Gulf of Mexico Revenue	1,255	1,181
Northeast G&P Revenue	502	511
West Revenue	447	424
Gas & NGL Marketing Services Revenue	576	529
Other Revenue	—	—
Other Revenue	143	136
Total Revenue	2,923	2,781

Adjusted EBITDA	Sep '25	Jun '25
Transmission & Gulf of Mexico Modified EBITDA	973	891
Northeast G&P Modified EBITDA	505	501
West Modified EBITDA	342	341
Gas & NGL Marketing Services Modified EBITDA	54	-30
Other Modified EBITDA	93	118
Total Adjusted EBITDA	1,967	1,821