The net proceeds from the offering, after deducting underwriting discounts, commissions and offering expenses, are expected to be approximately $6.92 billion. ONEOK intends to use the net proceeds from the offering to fund the purchase price for its previously announced transactions to acquire Global Infrastructure Partners' (GIP) interest in EnLink Midstream, LLC ("EnLink" and, such transaction, the "EnLink Transaction") and GIP's interest in Medallion Midstream, LLC and to pay fees and expenses related to the respective transactions.

senior notes, consisting of:

• $1.25 billion of 3-year senior notes at a coupon of 4.25%.
• $600 million of 5-year senior notes at a coupon of 4.40%.
• $1.25 billion of 7-year senior notes at a coupon of 4.75%.
• $1.60 billion of 10-year senior notes at a coupon of 5.05%.
• $1.50 billion of 30-year senior notes at a coupon of 5.70%.
• $800 million of 40-year senior notes at a coupon of 5.85%.