On January 5, 2024, The Williams Companies, Inc. completed a registered offering (Offering) of $1.1 billion aggregate principal amount of its 4.900% Senior Notes due 2029 (2029 Notes) and $1.0 billion aggregate principal amount of its 5.150% Senior Notes due 2034 (2034 Notes and, together with the 2029 Notes, the ?Notes?). The Offering has been registered under the Securities Act of 1933, as amended, pursuant to a registration statement on Form S-3 (Registration No. 333-253451) of the Company and the prospectus supplement dated January 2, 2024 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on January 4, 2024.

The Notes were issued pursuant to an Indenture (the ?Base Indenture?), dated as of December 18, 2012, between the Company and The Bank of New York Mellon Trust Company, N.A. as trustee (the ?Trustee?), as supplemented by the Ninth Supplemental Indenture (the ?Supplemental Indenture,? and together with the Base Indenture, the ?Indenture?), dated as of January 5, 2024, between the Company and the Trustee. Each of the 2029 Notes and the 2034 Notes are represented by a global security, the applicable forms of which are included as exhibits to the Supplemental Indenture.

The 2029 Notes will pay interest semi-annually in cash in arrears on March 15 and September 15 of each year, beginning on September 15, 2024. The 2034 Notes will pay interest semi-annually in cash in arrears on March 15 and September 15 of each year, beginning on September 15, 2024. The Notes are the Company?s senior unsecured obligations and will rank equally in right of payment with all of its other senior indebtedness and senior to all of its future indebtedness that is expressly subordinated in right of payment to the Notes.

The Indenture contains covenants that, among other things, restrict the Company?s ability to incur liens on assets to secure certain debt and merge, consolidate or sell, assign, transfer, lease convey or otherwise dispose of all or substantially all of its assets, subject to certain qualifications and exceptions. The Indenture includes customary events of default, including payment defaults and certain events of bankruptcy, insolvency or reorganization. The Company may redeem some or all of the Notes at any time or from time to time prior to February 15, 2029 in the case of the 2029 Notes, and December 15, 2033, in the case of the 2034 Notes, at a specified ?make-whole?

premium described in the Indenture. The Company also has the option at any time or from time to time on or after February 15, 2029, in the case of the 2029 Notes, and December 15, 2033, in the case of the 2034 Notes, to redeem the applicable Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to the redemption date, as more fully described in the Indenture.