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Williams Partners Reports Second-Quarter 2012 Financial Results

Williams Partners L.P. (NYSE: WPZ):

Summary Financial Information   2Q       YTD
Amounts in millions, except per-unit amounts. 2012     2011 2012     2011
Net income $ 193 $ 338 $ 541 $ 645
Net income per common L.P. unit $ 0.29 $ 0.91 $ 1.11 $ 1.72
Distributable cash flow (DCF) (1) $ 293 $ 397 $ 768 $ 838
Cash distribution coverage ratio (1) 0.79x 1.39x 1.04x 1.49x

(1) Distributable Cash Flow and Cash Distribution Coverage Ratio are non-GAAP measures. Reconciliations to the most relevant measures included in GAAP are attached to this news release.

Williams Partners L.P. (NYSE: WPZ) today announced unaudited second-quarter 2012 net income of $193 million, or $0.29 per common limited-partner unit, compared with second-quarter 2011 net income of $338 million, or $0.91 per common unit.

Year-to-date through June 30, Williams Partners reported net income of $541 million, or $1.11 per common limited-partner unit, compared with $645 million, or $1.72 per common limited-partner unit, for the first half of 2011.

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