Williams and Williams Partners Announce Meeting and Record Dates for Williams Special Meeting and Record Date for Williams Partners Unitholders Written Consent

The Williams Companies, Inc. (NYSE: WMB) (“Williams”) and Williams
Partners L.P. (NYSE: WPZ) (“Williams Partners”) today announced that, in
connection with the previously announced merger transaction between
Williams and Williams Partners (the “Merger”), the registration
statement on Form S-4 (the “Registration Statement”) has been declared
“effective” by the U.S. Securities and Exchange Commission (“SEC”).

Williams also today announced that it has scheduled a special meeting of
Williams stockholders to vote on the proposed Merger and related
amendment to Williams’ Amended and Restated Certificate of Incorporation
to increase the number of authorized shares of Williams common stock.
The special meeting of stockholders will be held on Aug. 9, 2018, at
10:00 a.m. (Central Daylight Time) at the Williams Resource Center
Theater, One Williams Center, Tulsa, Oklahoma. Williams’ stockholders of
record as of the close of business on July 9, 2018, are entitled to vote
at the meeting.

In addition, Williams Partners today announced that Williams Partners
unitholders of record at the close of business on July 9, 2018, will be
entitled to deliver written consents to approve the proposed Merger.
Pursuant to the terms of a Support Agreement between Williams Gas
Pipeline Company, LLC, a wholly owned subsidiary of Williams (“Williams
Gas Pipeline”), and Williams Partners, Williams Gas Pipeline is expected
to deliver its written consent with respect to the proposed Merger
within two business days after the effectiveness of the Registration
Statement. The delivery by Williams Gas Pipeline of its written consent
will be sufficient to approve the proposed Merger on behalf of Williams
Partners.

About Williams & Williams Partners

Williams (NYSE: WMB) is a premier provider of large-scale infrastructure
connecting U.S. natural gas and natural gas products to growing demand
for cleaner fuel and feedstocks. Headquartered in Tulsa, Okla., Williams
owns approximately 74 percent of Williams Partners L.P. (NYSE: WPZ).
Williams Partners is an industry-leading, large-cap master limited
partnership with operations across the natural gas value chain including
gathering, processing and interstate transportation of natural gas and
natural gas liquids. With major positions in top U.S. supply basins,
Williams Partners owns and operates more than 33,000 miles of pipelines
system wide – including the nation’s largest volume and fastest growing
pipeline – providing natural gas for clean-power generation, heating and
industrial use. Williams Partners’ operations touch approximately 30
percent of U.S. natural gas. www.williams.com

Important Information:

This communication does not constitute an offer to buy or solicitation
of an offer to sell any securities, nor shall there be any sale of
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
shall be made except by means of a prospectus meeting the requirements
of Section 10 of the U.S. Securities Act of 1933, as amended. This
communication relates to the proposed Merger between Williams and
Williams Partners. In furtherance of this proposed Merger and subject to
future developments, Williams and Williams Partners have filed the
Registration Statement with the SEC and a joint consent statement/proxy
statement/prospectus and other documents related to the proposed Merger.
This communication is not a substitute for any consent statement, proxy
statement, registration statement, prospectus or other document Williams
or Williams Partners may file with the SEC in connection with the
proposed Merger. The Registration Statement was declared effective by
the SEC on July 12, 2018. INVESTORS AND SECURITY HOLDERS OF WILLIAMS AND
WILLIAMS PARTNERS ARE URGED TO READ THE REGISTRATION STATEMENT, JOINT
CONSENT STATEMENT/PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT
HAVE BEEN OR MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY
AS THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
MERGER. Williams and Williams Partners expect to begin mailing the joint
consent statement/proxy statement/prospectus to Williams stockholders
and Williams Partners unitholders today. Investors and security holders
may obtain free copies of these documents and other documents filed with
the SEC by Williams and Williams Partners through the website maintained
by the SEC at http://www.sec.gov.
Copies of the documents filed by Williams and Williams Partners with the
SEC will be available free of charge by directing a request either to
The Williams Companies, Inc., One Williams Center, Tulsa, Oklahoma
74172, Attention: Investor Relations or to Williams Partners L.P., One
Williams Center, Tulsa, Oklahoma 74172, Attention: Investor Relations.

The respective directors and executive officers of Williams and Williams
Partners may be deemed to be “participants” (as defined in Schedule 14A
under the Exchange Act) in respect of the proposed Merger. Information
about Williams’ directors and executive officers is available in
Williams’ annual report on Form 10-K for the fiscal year ended December
31, 2017, filed with the SEC on February 22, 2018. Information about
Williams Partners’ directors and executive officers is available in
Williams Partners’ annual report on Form 10-K for the fiscal year ended
December 31, 2017 filed with the SEC on February 22, 2018. Other
information regarding the participants in the solicitation and a
description of their direct and indirect interests, by security holdings
or otherwise, is contained in the joint consent statement/proxy
statement/prospectus and other relevant materials to be filed with the
Securities and Exchange Commission when they become available.

Forward-Looking Statements

The reports, filings, and other public announcements of Williams and
Williams Partners may contain or incorporate by reference statements
that do not directly or exclusively relate to historical facts. Such
statements are “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. We make these
forward-looking statements in reliance on the safe harbor protections
provided under the Private Securities Litigation Reform Act of 1995. You
typically can identify forward-looking statements by various forms of
words such as “anticipates,” “believes,” “seeks,” “could,” “may,”
“should,” “continues,” “estimates,” “expects,” “forecasts,” “intends,”
“might,” “goals,” “objectives,” “targets,” “planned,” “potential,”
“projects,” “scheduled,” “will,” “assumes,” “guidance,” “outlook,” “in
service date” or other similar expressions. These forward-looking
statements are based on management’s beliefs and assumptions and on
information currently available to management and include, among others,
statements regarding:

Forward-looking statements are based on numerous assumptions,
uncertainties and risks that could cause future events or results to be
materially different from those stated or implied in this presentation.
Many of the factors that will determine these results are beyond our
ability to control or predict. Specific factors that could cause actual
results to differ from results contemplated by the forward-looking
statements include, among others, the following:

Given the uncertainties and risk factors that could cause our actual
results to differ materially from those contained in any forward-looking
statement, we caution investors not to unduly rely on our
forward-looking statements. We disclaim any obligations to and do not
intend to update the above list or announce publicly the result of any
revisions to any of the forward-looking statements to reflect future
events or developments.

In addition to causing our actual results to differ, the factors listed
above may cause our intentions to change from those statements of
intention set forth in this presentation. Such changes in our intentions
may also cause our results to differ. We may change our intentions, at
any time and without notice, based upon changes in such factors, our
assumptions, or otherwise.

Investors are urged to closely consider the disclosures and risk factors
in Williams’ and Williams Partners’ annual reports on Form 10-K each
filed with the SEC on Feb. 22, 2018, and each of our respective
quarterly reports on Form 10-Q available from our offices or websites at www.williams.com
and investor.williams.com.

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