Baird Investment Banking Pitch Book

MARCELLUS / UTICA TAKEAWAY CAPACITY DETAILS (Bcf/d) Name Northeast PA Pipeline Expansion Rose Lake Expansion Northeast Connector Leidy Southeast East Side Expansion Nagar Expansion Norther Access 2015 Rock Springs AIM Project Adandic Bridge New York Bay Expansion Project Atlantic Sunrise PennEast Pipeline Project Diamond East Project Northeast Supply Enhancement Project NE Takeaway from New Projects TOT Expansion Southwest PA/Utica Pipeline Expansion Southeast Main Line REX East-to-West Reversal Utic Backhaul TEAM 2014 West Side Expansion TEAM South Uniontown to Gas City Ohio Pipeline Energy Network (OPEN) ET Rover Project Gulf Marketu Expanplon Access South Project Adair Southwest Project Leach Xpress NEXUS Project Mountain Valley Project Appalachiato Market Project Gulf Xpress Wester Marcellus Project Atlantic Coast Pipeline SW Takeaway from New Projects YOY Expansion Total Takeaway from New Projects Incremento You Change Operator Kinder Morgan Kinder Morgan Spectra Energy Willams Willams NFGS TransCanada Tall Grass Energy LP Kinder Morgan Spectra Energy Source Spectra Energy Spectra Energy Kinder Morgan Spectra Energy ETP Spectra Energy Spectra Energy Spectra Energy Source Spectra Energy EQT Spectra Energy Columbia Dominion Bentek Marcellus/Utica Production Forecast TOY Growth TGP 300 Line Transco Transco Columbia TOP 200 Line National Fuel Transc AGT AGT Transco Transco PennEast Transco Transco TGP 200 Line Rockies Express TOP 300 Line Texas Eastern/AGT Columbia Texas Easter Texas Eastern TOP 100 Line Texas Eastern Panhandle Eastern Texas Eastern Texas Eastern Texas Eastern Columcia Transco Texas Eastern Columbia Transco Antic Coast Project Type New Pipeline Connector Upgrades Compressor Lateral Loop Upgrades Upgrades New Pipeline Reversal Reversal Reversal Loop Reversal Reversal New Pipeline Upgrades Upgrades New Pipeline Upgrades New Pipeline Source: Company documents, Bentek, company documents, and Wall Street Research. Points of Expansion Bradford Co., PA York City, PA Northeast & North N Chautauqua Co, NLY Hinsdale, NT/Eden NY Lonciiterco PA NY, CT, RI, MA Northeast A Northeast PA Northeast PA Luxeme Co., PA Lycoming/Luzerne, RA York County, PA McKean Co., PA Lebanon, OH Monroe Co, OH Destination Uniontown, PA Broad Run, WW Monroe Co, OH Delance, Chlo Southwest PA Uniontown, PW Southwest PA OH, WV, & PA Northeastern OH Wetzel Co., WV Beme, OH Leach, KY Clarington, OH Harrison Co., CH Northeast PA Rockway, NY Mid-Atlantic Seaboard Northeast Seaboard Northeast Seaboard Cecil Co, MD Boston, MA Northeast Seaboard Northe N Fairfax Co, VA Trenton, N Mercer, N Patterson, LA Missouri Gulf Coast Northem N Southwest PA OH, WV, & PA Waynesburg, WV & Smithfield, PA Leach, KY & Rayne, LA Bitdla Cô, Mỹ Erie Co, NY Southwest PA Kosdlusko, MS Adair Co, KY Leach, KY Southeastern Mi Now 2014 Nov 2014 4015 Nov. 2015 Nov. 2015 Lambert, N Rayne, LA Station 165, Southern VA Greenwille Co., VA Aug. 2016 Nov 2017 Mid-2018 2H 2018 Mid-2018 Dec 2019 Nov 2017 Various Stages Various Stages Apr. 2014 Nov. 2014 Nov. 2014 Gulf Coast Gulf Coarsit Samia, Canada/Gulf Coast 3017 Aug. 2015 Various Stages Nov. 2015 Nov. 2017 3018 Nov 2018 Nov. 2018 Late 2018 Late 2019 230 165 1,250 500 444 16,406 230 100 1,200 500 600 425 5:40 550 3,455 8614 19,751 312 158 341 2,000 2,000 300 425 550 800 1,334 22,403 Confidential 230 100 525 192 342 115 2,000 500 600 300 425 540 320 200 11,519 3,570 13,983 24,500 100 525 158 140 192 115 6,264 3,800 500 484 435 790 550 3,250 330 1,500 1,000 870 1,500 10,120 27,953 23,901 BAIRD 2019 525 312 150 115 1,700 1,100 1,000 497 897 2,800 500 984 550 3,250 320 200 1,500 1,750 2,000 1,000 870 1,500 1,500 25,180 1,500 30,350 2,397 29,372 Project Bronco | Page 17

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