Will Williams or Williams Partners file Form 8937, Report of Organizational Actions Affecting Basis of Securities, as a result of this transaction?

No. Form 8937 is required when an organizational action affects the basis of holders of a security or holders of a class of the security. For this purpose, a security includes a share of stock in a corporation but not a unit in a partnership. The transaction is a taxable exchange of WPZ units for Williams Common Stock. WPZ unitholder’s basis in their Williams Common Stock received in the exchange will be the WMB closing share price on August 10, 2018. The basis of Williams Common Stock in the hands of previous WMB shareholders is unchanged, therefore no For

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