----

|                  |
|------------------|
|                  |  |  |  |
| October 30, 2012 |   | Analyst Contact: | Andrew Ziola |
|             |   |   | 918-588-7163 |
|             |   | Media Contact: | Brad Borror |
|             |   |   | 918-588-7582 |

----

----

|         |                                                                                             |
|---------|---------------------------------------------------------------------------------------------|
| • | Operating income of $248.4 million, compared with $242.4 million in the third quarter 2011; |

|         |                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------|
| • | Natural gas gathering and processing segment operating income of $57.0 million, compared with $51.8 million in the third quarter 2011; |

|         |                                                                                                                         |
|---------|-------------------------------------------------------------------------------------------------------------------------|
| • | Natural gas pipelines segment operating income of $33.5 million, compared with $34.0 million in the third quarter 2011; |

|         |                                                                                                                         |
|---------|-------------------------------------------------------------------------------------------------------------------------|
| • | Natural gas liquids segment operating income of $158.8 million, compared with $157.1 million in the third quarter 2011; |

|         |                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------|
| • | Equity earnings from investments of $28.6 million, compared with $32.0 million in the third quarter 2011; |

|         |                                                                                                 |
|---------|-------------------------------------------------------------------------------------------------|
| • | Capital expenditures of $375.3 million, compared with $252.2 million in the third quarter 2011; |

|         |                                                                                                                                                                                  |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | In the natural gas pipelines segment, Viking Gas Transmission earning the Minnesota Governor’s Award in Occupational Safety and the 2011 Wisconsin Corporate Safety Award; |

|         |                                                                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Completing in September a $1.3 billion public offering of senior notes, consisting of $400 million of five-year senior notes at 2.0 percent and $900 million of 10-year senior notes at 3.375 percent; |

|         |                                                                                                                                 |
|---------|---------------------------------------------------------------------------------------------------------------------------------|
| • | Increasing investments in its 2011 to 2015 internal-growth program to a range of approximately $5.7 billion to $6.6 billion by: |

|   |                                                                                                                                                                                                                                                                                                                                    |
|---|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Announcing in July plans to invest approximately $310 million to $345 million between now and the third quarter of 2014 to construct a 100 million-cubic-feet-per-day (MMcf/d) natural gas processing facility - the Garden Creek II plant - in eastern McKenzie County, N.D., in the Williston Basin, and related infrastructure; |

|   |                                                                                                                                                                                                                                                  |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Announcing in July plans to invest $525 million to $575 million between now and the fourth quarter of 2014 to construct a 75,000 barrel-per-day (bpd) natural gas liquids fractionator, MB-3, and related infrastructure at Mont Belvieu, Texas; |

|   |                                                                                                                                                                                                                                            |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Announcing in July plans to invest approximately $100 million between now and the third quarter of 2014 to install additional pump stations on the Bakken NGL Pipeline to increase its capacity to 135,000 bpd from an initial 60,000 bpd; |

|   |                                                                                                                                                                                                     |
|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Announcing in July plans to invest approximately $45 million between now and the second quarter of 2014 to install a 40,000 bpd ethane/propane (E/P) splitter at its Mont Belvieu storage facility; |

|         |                                                                                          |
|---------|------------------------------------------------------------------------------------------|
| • | Completing in September the 60,000 bpd expansion of the Bushton, Kan., NGL fractionator; |

|         |                                                                                                                                |
|---------|--------------------------------------------------------------------------------------------------------------------------------|
| • | Completing in September the 100 MMcf/d Stateline I natural gas processing facility in the Williston Basin in the Bakken Shale; |

----

|         |                                                                                                                                |
|---------|--------------------------------------------------------------------------------------------------------------------------------|
| • | Announcing the open season for the Bakken Crude Express Pipeline, which began Sept. 21, 2012, and will conclude Nov. 20, 2012; |

|         |                                                                                                                                                                                                                                                                                                                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Announcing 2013 guidance in September 2012, with net income expected to increase 10 percent compared with current 2012 earnings guidance; and the annual distribution declared expected to increase 10 to 15 percent between 2012 and 2015, including 2-cent-per-unit-per-quarter increases in 2013, subject to board approval, while maintaining a minimum annual coverage ratio of 1.05 times; |

|         |                                                                                                                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Having $963.6 million of cash and cash equivalents and no commercial paper or borrowings outstanding as of Sept. 30, 2012, under the partnership’s $1.2 billion revolving credit facility; and |

|         |                                                                                                                                                                                            |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Increasing the quarterly cash distribution to 68.5 cents per unit from 66 cents per unit, an increase of 4 percent, payable on Nov. 14, 2012, to unitholders of record as of Nov. 5, 2012. |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Natural gas gathered was 1,149 billion British thermal units per day (BBtu/d) in the third quarter 2012, up 10 percent compared with the same period last year due to increased drilling activity in the Williston Basin and in western Oklahoma, and completion of additional gathering lines and compression to support the partnership’s Garden Creek natural gas processing plant in the Williston Basin; offset partially by continued production declines in the Powder River Basin in Wyoming; and up 6 percent compared with the second quarter 2012; |

|         |                                                                                                                                                                                                                                                                                                                                                                                |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Natural gas processed was 906 BBtu/d in the third quarter 2012, up 25 percent compared with the same period last year due to increased drilling activity in the Williston Basin and western Oklahoma, and the completion of the partnership’s Garden Creek natural gas processing plant in the Williston Basin; and up 10 percent compared with the second quarter 2012; |

|         |                                                                                                                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The realized composite NGL net sales price was $1.10 per gallon in the third quarter 2012, up 1 percent compared with the same period last year; and up 9 percent compared with the second quarter 2012; |

|         |                                                                                                                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The realized condensate net sales price was $86.54 per barrel in the third quarter 2012, down 2 percent compared with the same period last year; and relatively unchanged compared with the second quarter 2012; |

|         |                                                                                                                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The realized residue natural gas net sales price was $3.69 per million British thermal units (MMBtu) in the third quarter 2012, down 30 percent compared with the same period last year; and down 3 percent compared with the second quarter 2012; and |

|         |                                                                                                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The realized gross processing spread was $8.14 per MMBtu in the third quarter 2012, relatively unchanged compared with the same period last year; and up 1 percent compared with the second quarter 2012. |

----

|                                                                                |
|--------------------------------------------------------------------------------|
|                                                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                           | Three Months Ended |   | Nine Months Ended |
|                                                                           | September 30, |   | September 30, |
| Operating Information (a)                                                      | 2012 |   | 2011 |   | 2012 |   | 2011 |
| Percent of proceeds                                                            |   |   |   |   |   |   |   |
| NGL sales (Bbl/d) (b)                                                     | 9,941 |  |   | 6,963 |  |   | 9,338 |  |   | 6,433 |  |
| Residue gas sales (MMBtu/d) (b)                                           | 69,952 |  |   | 52,038 |  |   | 63,244 |  |   | 46,702 |  |
| Condensate sales (Bbl/d) (b)                                              | 1,825 |  |   | 1,401 |  |   | 2,180 |  |   | 1,754 |  |
| Percentage of total net margin                                                 | 65 | % |   | 63 | % |   | 63 | % |   | 61 | % |
| Fee-based                                                                      |   |  |   |   |  |   |   |  |   |   |  |
| Wellhead volumes (MMBtu/d)                                                     | 1,149,072 |  |   | 1,044,385 |  |   | 1,091,063 |  |   | 1,020,871 |  |
| Average rate ($/MMBtu)                                                         | $ | 0.34 |  |   | $ | 0.35 |  |   | $ | 0.35 |  |   | $ | 0.34 |  |
| Percentage of total net margin                                                 | 30 | % |   | 31 | % |   | 31 | % |   | 32 | % |
| Keep-whole                                                                     |   |  |   |   |  |   |   |  |   |   |  |
| NGL shrink (MMBtu/d) (c)                                                  | 6,040 |  |   | 9,145 |  |   | 6,643 |  |   | 10,753 |  |
| Plant fuel (MMBtu/d) (c)                                                  | 656 |  |   | 973 |  |   | 761 |  |   | 1,193 |  |
| Condensate shrink (MMBtu/d) (c)                                           | 924 |  |   | 801 |  |   | 1,072 |  |   | 1,204 |  |
| Condensate sales (Bbl/d)                                                       | 187 |  |   | 162 |  |   | 217 |  |   | 244 |  |
| Percentage of total net margin                                                 | 5 | % |   | 6 | % |   | 6 | % |   | 7 | % |
| (a) - Includes volumes for consolidated entities only.                         |   |   |   |   |   |   |
| (b) - Represents equity volumes.                                               |   |   |
| (c) - Refers to the Btus that are removed from natural gas through processing. |   |   |

----

|                                      |
|--------------------------------------|
|                                      |  |  |  |  |  |  |  |  |  |  |
|                                 | Three Months Ending December 31, 2012 |
|                                 | VolumesHedged | (a) |   | Average Price |   | PercentageHedged |
| NGLs (Bbl/d)                         | 9,488 |  |   |   | $ | 1.25 |  | / gallon |   | 71% |
| Condensate (Bbl/d)                   | 1,987 |  |   |   | $ | 2.42 |  | / gallon |   | 77% |
| Total (Bbl/d)                        | 11,475 |  |   |   | $ | 1.46 |  | / gallon |   | 72% |
| Natural gas (MMBtu/d)                | 50,109 |  |   |   | $ | 4.54 |  | / MMBtu |   | 77% |
| (a) - Hedged with futures and swaps. |   |   |   |   |   |   |   |

|                                      |
|--------------------------------------|
|                                      |  |  |  |  |  |  |  |  |  |  |
|                                 | Year Ending December 31, 2013 |
|                                 | VolumesHedged | (a) |   | Average Price |   | PercentageHedged |
| NGLs (Bbl/d)                         | 428 |  |   |   | $ | 2.51 |  | / gallon |   | 2% |
| Condensate (Bbl/d)                   | 2,038 |  |   |   | $ | 2.43 |  | / gallon |   | 70% |
| Total (Bbl/d)                        | 2,466 |  |   |   | $ | 2.44 |  | / gallon |   | 10% |
| Natural gas (MMBtu/d)                | 50,137 |  |   |   | $ | 3.85 |  | / MMBtu |   | 80% |
| (a) - Hedged with futures and swaps. |   |   |   |   |   |   |   |

|                                      |
|--------------------------------------|
|                                      |  |  |  |  |  |  |  |  |  |  |
|                                 | Year Ending December 31, 2014 |
|                                 | VolumesHedged | (a) |   | Average Price |   | PercentageHedged |
| Natural gas (MMBtu/d)                | 36,726 |  |   |   | $ | 4.11 |  | / MMBtu |   | 50% |
| (a) - Hedged with futures and swaps. |   |   |   |   |   |   |   |

----

|         |                                                                                                                                                                                                                                       |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Natural gas transportation capacity contracted was 5,249 thousand dekatherms per day in the third quarter 2012, up 2 percent compared with the same period last year; and relatively unchanged compared with the second quarter 2012; |

|         |                                                                                                                                                                                                |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Natural gas transportation capacity subscribed was 87 percent in the third quarter 2012 compared with 85 percent in the same period last year; and unchanged from the second quarter 2012; and |

|         |                                                                                                                                                                                                                            |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The average natural gas price in the Mid-Continent region was $2.75 per MMBtu in the third quarter 2012, down 32 percent compared with the same period last year; and up 27 percent compared with the second quarter 2012. |

|         |                                                                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A $32.9 million increase from higher NGL volumes gathered and fractionated and higher fees from contract renegotiations for its NGL exchange-services activities; |

|         |                                                                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A $5.8 million increase in isomerization margins resulting from wider price differentials between normal butane and iso-butane and higher isomerization volumes; |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A decrease of $20.9 million in optimization and marketing margins, which resulted from a $43.4 million decrease due to narrower NGL price differentials and lower transportation capacity available for optimization activities, as an increasing portion of its transportation capacity between the Conway, Kan., and Mont Belvieu, Texas, NGL market centers is utilized by its exchange services activities to produce fee-based |

----

|         |                                                                              |
|---------|------------------------------------------------------------------------------|
| • | A $5.5 million decrease due to the impact of operational measurement losses. |

|         |                                                                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A $68.8 million increase from higher NGL volumes gathered and fractionated and higher fees from contract renegotiations for its NGL exchange-services activities; |

|         |                                                                                                                                      |
|---------|--------------------------------------------------------------------------------------------------------------------------------------|
| • | A $50.3 million increase in optimization and marketing margins, which resulted primarily from wider NGL product price differentials; |

|         |                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------|
| • | A $9.6 million increase due to higher storage margins as a result of favorable contract renegotiations; |

|         |                                                                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A $3.9 million increase due to higher isomerization margins, which resulted from wider NGL price differentials between normal butane and iso-butane; and |

|         |                                                                              |
|---------|------------------------------------------------------------------------------|
| • | A $1.3 million decrease due to the impact of operational measurement losses. |

|         |                                                                                                                                                                                                                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | NGLs fractionated were 581,000 bpd in the third quarter 2012, up 10 percent compared with the same period last year due primarily to increased throughput from existing connections and new supply connections in the Mid-Continent and Rocky Mountain regions; and up 10 percent compared with the second quarter 2012; |

|         |                                                                                                                                                                                                                                                                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | NGLs transported on gathering lines were 530,000 bpd in the third quarter 2012, up 20 percent compared with the same period last year due primarily to increased production through existing supply connections, and new supply connections in the Mid-Continent and Rocky Mountain regions; and up 1 percent compared with the second quarter 2012; |

|         |                                                                                                                                                                                 |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | NGLs transported on distribution lines were 504,000 bpd in the third quarter 2012, up 10 percent compared with the same period last year due primarily to the completion of the |

----

|         |                                                                                                                                                                                                                                                                                                                       |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Conway-to-Mont Belvieu average price differential for ethane in ethane/propane mix, based on Oil Price Information Service (OPIS) pricing, was 16 cents per gallon in the third quarter 2012, compared with 27 cents per gallon in the same period last year; and 23 cents per gallon in the second quarter 2012. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Approximately $1.5 billion to $1.8 billion to construct a 1,300-mile crude-oil pipeline with the initial capacity to transport 200,000 bpd.  The Bakken Crude Express Pipeline will transport light-sweet crude oil from the Bakken Shale in the Williston Basin in North Dakota to the Cushing, Okla., crude-oil market hub.  In September, the partnership announced an open-season process that provides potential shippers the opportunity to execute long-term transportation contracts on the proposed pipeline in exchange for priority transportation service.  The open season began on Sept. 21, 2012, and will conclude on Nov. 20, 2012.  Following receipt of sufficient supply commitments and all necessary permits and compliance with customary regulatory requirements, construction is expected to begin in early 2014 and be completed by mid-2015. |

|         |                                                                                            |
|---------|--------------------------------------------------------------------------------------------|
| • | Approximately $2.4 billion to $2.9 billion for natural gas liquids projects including: |

|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Approximately $610 million to $810 million for the construction of a 570-plus-mile, 16-inch NGL pipeline - the Sterling III Pipeline - expected to be completed in late 2013, to transport either unfractionated NGLs or NGL purity products from the Mid-Continent region to the Texas Gulf Coast with the initial capacity of 193,000 bpd and the ability to expand to 250,000 bpd; and the reconfiguration of its existing Sterling I and II NGL distribution pipelines to transport either unfractionated NGLs or NGL purity products; |

|   |                                                                                                                                                                               |
|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Approximately $300 million to $390 million for the construction of a 75,000 bpd NGL fractionator, MB-2, at Mont Belvieu, Texas, that is expected to be completed in mid-2013; |

|   |                                                                                                                                                                                                                            |
|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Approximately $525 million to $575 million for the construction of a 75,000 bpd NGL fractionator, MB-3, and related infrastructure at Mont Belvieu, Texas, that is expected to be completed in the fourth quarter of 2014; |

----

|   |                                                                                                                                                                                                                           |
|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Approximately $45 million to install a 40,000 bpd ethane/propane (E/P) splitter at its Mont Belvieu storage facility to split E/P mix into purity ethane, that is expected to be completed in the second quarter of 2014; |

|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Approximately $450 million to $550 million for the construction of an approximately 600-mile NGL pipeline - the Bakken NGL Pipeline - to transport unfractionated NGLs produced from the Bakken Shale in the Williston Basin to the Overland Pass Pipeline, a 760-mile NGL pipeline extending from southern Wyoming to Conway, Kan.  The Bakken NGL Pipeline is expected to be in service during the first quarter of 2013, with an initial capacity of 60,000 bpd; |

|   |                                                                                                                                                                                                                                                    |
|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Approximately $100 million to install additional pump stations on the Bakken NGL Pipeline to increase its capacity to 135,000 bpd from an initial capacity of 60,000 bpd.  The expansion is expected to be completed in the third quarter of 2014; |

|   |                                                                                                                                                                                                                                      |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Approximately $35 million to $40 million on the partnership’s 50 percent-owned Overland Pass Pipeline for a 60,000-bpd capacity expansion to transport the additional unfractionated NGL volumes from the Bakken NGL Pipeline; |

|   |                                                                                                                                                                                                                                         |
|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Approximately $117 million for a 60,000-bpd expansion of the partnership’s NGL fractionation capacity at Bushton, Kan., which was completed in September 2012, to accommodate volumes from the Mid-Continent and Williston Basin; |

|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Approximately $220 million to construct more than 230 miles of 10- and 12-inch diameter NGL pipelines that expanded the partnership’s existing Mid-Continent NGL gathering system in the Cana-Woodford and Granite Wash areas, which is expected to add approximately 75,000 to 80,000 bpd of raw, unfractionated NGLs to the partnership’s existing NGL gathering systems in the Mid-Continent and the Arbuckle Pipeline.  Construction of the NGL pipelines was completed in April 2012 and connected three new third-party natural gas processing facilities and three existing third-party natural gas processing facilities that were expanded to the partnership’s NGL gathering system.  In addition, the installation of additional pump stations on the Arbuckle Pipeline was completed, increasing its capacity to 240,000 bpd; and |

|   |                                                                                                                                                                                                                                                                                     |
|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | At the end of 2011, the partnership completed the installation of seven additional pump stations along its existing Sterling I NGL distribution pipeline, which cost approximately $30 million; the additional pump stations increased the pipeline’s capacity by 15,000 bpd. |

|         |                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------|
| • | Approximately $1.8 billion to $1.9 billion for natural gas gathering and processing projects including: |

----

|   |                                                                                                                                                                                                                                                                                                                                                          |
|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Approximately $360 million for the Garden Creek plant, a 100-MMcf/d natural gas processing facility in the Bakken Shale in the Williston Basin in North Dakota that was placed in service at the end of 2011, and related expansions; and for new well connections, expansions and upgrades to the existing natural gas gathering system infrastructure; |

|   |                                                                                                                                                                                                                                                                                                                                                                            |
|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Approximately $300 million to $355 million to construct the Stateline I plant, a 100-MMcf/d natural gas processing facility in the Bakken Shale in the Williston Basin in North Dakota, which was completed in September 2012, and related NGL infrastructure; expansions and upgrades to the existing gathering and compression infrastructure; and new well connections; |

|   |                                                                                                                                                                                                                                                                                                                                                                       |
|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Approximately $260 million to $305 million to construct the Stateline II plant, a 100-MMcf/d natural gas processing facility in the Bakken Shale in the Williston Basin in North Dakota, which is expected to be in service in the first quarter of 2013; expansions and upgrades to the existing gathering and compression infrastructure; and new well connections; |

|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Approximately $140 million to $160 million to construct a 270-mile natural gas gathering system and related infrastructure in Divide County, N.D.  This system, which is expected to be in service in the third quarter 2013, will gather and transport natural gas from producers in the Bakken Shale in the Williston Basin to the partnership’s previously announced 100 MMcf/d Stateline II natural gas processing facility in western Williams County, N.D.; |

|   |                                                                                                                                                                                                                                                                                                                                 |
|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Approximately $340 million to $360 million to construct the Canadian Valley plant, a 200-MMcf/d natural gas processing facility in the Cana-Woodford Shale in Oklahoma, which is expected to be in service in the first quarter 2014; and expansions and upgrades to the existing gathering and compression infrastructure; and |

|   |                                                                                                                                                                                                                                                                                                                                                    |
|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| - | Approximately $310 million to $345 million to construct the Garden Creek II plant, a 100-MMcf/d natural gas processing facility in the Bakken Shale in the Williston Basin in North Dakota, which is expected to be in service in the third quarter of 2014; and expansions and upgrades to the existing gathering and compression infrastructure. |

----

----

|         |                                                                                                                                             |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------|
| • | the effects of weather and other natural phenomena, including climate change, on our operations, demand for our services and energy prices; |

|         |                                                                                                                                                                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | competition from other United States and foreign energy suppliers and transporters, as well as alternative forms of energy, including, but not limited to, solar power, wind power, geothermal energy and biofuels such as ethanol and biodiesel; |

|         |                                                 |
|---------|-------------------------------------------------|
| • | the capital intensive nature of our businesses; |

|         |                                                                          |
|---------|--------------------------------------------------------------------------|
| • | the profitability of assets or businesses acquired or constructed by us; |

|         |                                                        |
|---------|--------------------------------------------------------|
| • | our ability to make cost-saving changes in operations; |

|         |                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | risks of marketing, trading and hedging activities, including the risks of changes in energy prices or the financial condition of our counterparties; |

|         |                                                                                          |
|---------|------------------------------------------------------------------------------------------|
| • | the uncertainty of estimates, including accruals and costs of environmental remediation; |

|         |                                                              |
|---------|--------------------------------------------------------------|
| • | the timing and extent of changes in energy commodity prices; |

|         |                                                                                                                                                                                                                                                                                               |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the effects of changes in governmental policies and regulatory actions, including changes with respect to income and other taxes, pipeline safety, environmental compliance, climate change initiatives and authorized rates of recovery of natural gas and natural gas transportation costs; |

|         |                                                                                                                                                                                                                                                                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the impact on drilling and production by factors beyond our control, including the demand for natural gas and crude oil; producers’ desire and ability to obtain necessary permits; reserve performance; and capacity constraints on the pipelines that transport crude oil, natural gas and NGLs from producing areas and our facilities; |

|         |                                                                                                                         |
|---------|-------------------------------------------------------------------------------------------------------------------------|
| • | difficulties or delays experienced by trucks or pipelines in delivering products to or from our terminals or pipelines; |

|         |                                                                                                                    |
|---------|--------------------------------------------------------------------------------------------------------------------|
| • | changes in demand for the use of natural gas because of market conditions caused by concerns about global warming; |

|         |                                                                                                                     |
|---------|---------------------------------------------------------------------------------------------------------------------|
| • | conflicts of interest between us, our general partner, ONEOK Partners GP, and related parties of ONEOK Partners GP; |

----

|         |                                                                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the impact of unforeseen changes in interest rates, equity markets, inflation rates, economic recession and other external factors over which we have no control; |

|         |                                                                                                                                                                                                                                                                                |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | our indebtedness could make us vulnerable to general adverse economic and industry conditions, limit our ability to borrow additional funds and/or place us at competitive disadvantages compared with our competitors that have less debt or have other adverse consequences; |

|         |                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------|
| • | actions by rating agencies concerning the credit ratings of us or the parent of our general partner; |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the results of administrative proceedings and litigation, regulatory actions, rule changes and receipt of expected clearances involving the Oklahoma Corporation Commission (OCC), Kansas Corporation Commission (KCC), Texas regulatory authorities or any other local, state or federal regulatory body, including the Federal Energy Regulatory Commission (FERC), the National Transportation Safety Board (NTSB), the Pipeline and Hazardous Materials Safety Administration (PHMSA), the Environmental Protection Agency (EPA) and the Commodity Futures Trading Commission (CFTC); |

|         |                                                                                  |
|---------|----------------------------------------------------------------------------------|
| • | our ability to access capital at competitive rates or on terms acceptable to us; |

|         |                                                                                                                                                                     |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | risks associated with adequate supply to our gathering, processing, fractionation and pipeline facilities, including production declines that outpace new drilling; |

|         |                                                                                                                                                                              |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the risk that material weaknesses or significant deficiencies in our internal control over financial reporting could emerge or that minor problems could become significant; |

|         |                                                          |
|---------|----------------------------------------------------------|
| • | the impact and outcome of pending and future litigation; |

|         |                                                                                       |
|---------|---------------------------------------------------------------------------------------|
| • | the ability to market pipeline capacity on favorable terms, including the effects of: |

|         |                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------|
| • | performance of contractual obligations by our customers, service providers, contractors and shippers; |

|         |                                                                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the timely receipt of approval by applicable governmental entities for construction and operation of our pipeline and other projects and required regulatory clearances; |

|         |                                                                                                                                                                                                                                                                                                                      |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | our ability to acquire all necessary permits, consents and other approvals in a timely manner, to promptly obtain all necessary materials and supplies required for construction, and to construct gathering, processing, storage, fractionation and transportation facilities without labor or contractor problems; |

|         |                                                  |
|---------|--------------------------------------------------|
| • | the mechanical integrity of facilities operated; |

|         |                                                             |
|---------|-------------------------------------------------------------|
| • | demand for our services in the proximity of our facilities; |

|         |                                         |
|---------|-----------------------------------------|
| • | our ability to control operating costs; |

|         |                                                                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | acts of nature, sabotage, terrorism or other similar acts that cause damage to our facilities or our suppliers’ or shippers’ facilities; |

|         |                                                                              |
|---------|------------------------------------------------------------------------------|
| • | economic climate and growth in the geographic areas in which we do business; |

|         |                                                                                                                                                                              |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the risk of a prolonged slowdown in growth or decline in the United States or international economies, including liquidity risks in United States or foreign credit markets; |

|         |                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------|
| • | the impact of recently issued and future accounting updates and other changes in accounting policies; |

|         |                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the possibility of future terrorist attacks or the possibility or occurrence of an outbreak of, or changes in, hostilities or changes in the political conditions in the Middle East and elsewhere; |

|         |                                                                                                                    |
|---------|--------------------------------------------------------------------------------------------------------------------|
| • | the risk of increased costs for insurance premiums, security or other items as a consequence of terrorist attacks; |

|         |                                                                                                                                                                                                                                                                             |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | risks associated with pending or possible acquisitions and dispositions, including our ability to finance or integrate any such acquisitions and any regulatory delay or conditions imposed by regulatory bodies in connection with any such acquisitions and dispositions; |

|         |                                                                                        |
|---------|----------------------------------------------------------------------------------------|
| • | the impact of uncontracted capacity in our assets being greater or less than expected; |

|         |                                                                                                                                                                                    |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the ability to recover operating costs and amounts equivalent to income taxes, costs of property, plant and equipment and regulatory assets in our state and FERC-regulated rates; |

|         |                                                                                                                             |
|---------|-----------------------------------------------------------------------------------------------------------------------------|
| • | the composition and quality of the natural gas and NGLs we gather and process in our plants and transport on our pipelines; |

|         |                                                                                               |
|---------|-----------------------------------------------------------------------------------------------|
| • | the efficiency of our plants in processing natural gas and extracting and fractionating NGLs; |

|         |                                             |
|---------|---------------------------------------------|
| • | the impact of potential impairment charges; |

|         |                                                                                                                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the risk inherent in the use of information systems in our respective businesses, implementation of new software and hardware, and the impact on the timeliness of information for financial reporting; |

|         |                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------|
| • | our ability to control construction costs and completion schedules of our pipelines and other projects; and |

|         |                                                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the risk factors listed in the reports we have filed and may file with the Securities and Exchange Commission (SEC), which are incorporated by reference. |

----

----

|                                                                                                      |
|------------------------------------------------------------------------------------------------------|
|                                                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| ONEOK Partners, L.P. and Subsidiaries                                                                |   |   |   |   |   |   |   |
| CONSOLIDATED STATEMENTS OF INCOME                                                                    |   |   |   |   |   |   |   |
|                                                                                                 | Three Months Ended |   | Nine Months Ended |
|                                                                                                 | September 30, |   | September 30, |
| (Unaudited)                                                                                          | 2012 |   | 2011 |   | 2012 |   | 2011 |
|                                                                                                 | (Thousands of dollars, except per unit amounts) |
| Revenues                                                                                             | $ | 2,547,460 |  |   | $ | 2,903,576 |  |   | $ | 7,266,354 |  |   | $ | 8,187,405 |  |
| Cost of sales and fuel                                                                               | 2,127,723 |  |   | 2,509,570 |  |   | 6,024,065 |  |   | 7,104,305 |  |
| Net margin                                                                                           | 419,737 |  |   | 394,006 |  |   | 1,242,289 |  |   | 1,083,100 |  |
| Operating expenses                                                                                   |   |  |   |   |  |   |   |  |   |   |  |
| Operations and maintenance                                                                           | 110,268 |  |   | 96,211 |  |   | 319,905 |  |   | 291,346 |  |
| Depreciation and amortization                                                                        | 49,754 |  |   | 45,221 |  |   | 150,024 |  |   | 131,665 |  |
| General taxes                                                                                        | 10,908 |  |   | 10,095 |  |   | 40,505 |  |   | 37,284 |  |
| Total operating expenses                                                                             | 170,930 |  |   | 151,527 |  |   | 510,434 |  |   | 460,295 |  |
| Gain (loss) on sale of assets                                                                        | (420 | ) |   | (69 | ) |   | 603 |  |   | (791 | ) |
| Operating income                                                                                     | 248,387 |  |   | 242,410 |  |   | 732,458 |  |   | 622,014 |  |
| Equity earnings from investments                                                                     | 28,591 |  |   | 32,029 |  |   | 92,380 |  |   | 93,665 |  |
| Allowance for equity funds used during construction                                                  | 3,302 |  |   | 759 |  |   | 6,126 |  |   | 1,625 |  |
| Other income                                                                                         | 2,971 |  |   | 82 |  |   | 6,567 |  |   | 960 |  |
| Other expense                                                                                        | (472 | ) |   | (7,167 | ) |   | (2,104 | ) |   | (6,249 | ) |
| Interest expense (net of capitalized interest of $11,328, $5,967, $29,472 and $12,716, respectively) | (47,776 | ) |   | (55,735 | ) |   | (148,110 | ) |   | (170,626 | ) |
| Income before income taxes                                                                           | 235,003 |  |   | 212,378 |  |   | 687,317 |  |   | 541,389 |  |
| Income taxes                                                                                         | (2,626 | ) |   | (2,554 | ) |   | (9,396 | ) |   | (9,253 | ) |
| Net income                                                                                           | 232,377 |  |   | 209,824 |  |   | 677,921 |  |   | 532,136 |  |
| Less:  Net income attributable to noncontrolling interests                                 | 102 |  |   | 138 |  |   | 336 |  |   | 416 |  |
| Net income attributable to ONEOK Partners, L.P.                                                      | $ | 232,275 |  |   | $ | 209,686 |  |   | $ | 677,585 |  |   | $ | 531,720 |  |
| Limited partners’ interest in net income:                                                      |   |  |   |   |  |   |   |  |   |   |  |
| Net income attributable to ONEOK Partners, L.P.                                                      | $ | 232,275 |  |   | $ | 209,686 |  |   | $ | 677,585 |  |   | $ | 531,720 |  |
| General partner’s interest in net income                                                       | (59,807 | ) |   | (37,731 | ) |   | (163,210 | ) |   | (105,376 | ) |
| Limited partners’ interest in net income                                                       | $ | 172,468 |  |   | $ | 171,955 |  |   | $ | 514,375 |  |   | $ | 426,344 |  |
| Limited partners’ net income per unit, basic and diluted                                       | $ | 0.78 |  |   | $ | 0.84 |  |   | $ | 2.38 |  |   | $ | 2.09 |  |
| Number of units used in computation (thousands)                                                      | 219,816 |  |   | 203,816 |  |   | 216,241 |  |   | 203,816 |  |

----

|                                                                                                                                 |
|---------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                 |  |  |  |  |  |  |  |
| ONEOK Partners, L.P. and Subsidiaries                                                                                           |   |   |   |
| CONSOLIDATED BALANCE SHEETS                                                                                                     |   |   |   |
|                                                                                                                            | September 30, |   | December 31, |
| (Unaudited)                                                                                                                     | 2012 |   | 2011 |
| Assets                                                                                                                          | (Thousands of dollars) |
| Current assets                                                                                                                  |   |   |   |
| Cash and cash equivalents                                                                                                       | $ | 963,648 |  |   | $ | 35,091 |  |
| Accounts receivable, net                                                                                                        | 815,403 |  |   | 922,237 |  |
| Affiliate receivables                                                                                                           | 14,361 |  |   | 4,132 |  |
| Gas and natural gas liquids in storage                                                                                          | 327,219 |  |   | 202,186 |  |
| Commodity imbalances                                                                                                            | 56,861 |  |   | 62,884 |  |
| Other current assets                                                                                                            | 103,247 |  |   | 79,343 |  |
| Total current assets                                                                                                            | 2,280,739 |  |   | 1,305,873 |  |
| Property, plant and equipment                                                                                                   |   |  |   |   |  |
| Property, plant and equipment                                                                                                   | 7,977,062 |  |   | 6,963,652 |  |
| Accumulated depreciation and amortization                                                                                       | 1,393,668 |  |   | 1,259,697 |  |
| Net property, plant and equipment                                                                                               | 6,583,394 |  |   | 5,703,955 |  |
| Investments and other assets                                                                                                    |   |  |   |   |  |
| Investments in unconsolidated affiliates                                                                                        | 1,218,282 |  |   | 1,223,398 |  |
| Goodwill and intangible assets                                                                                                  | 647,788 |  |   | 653,537 |  |
| Other assets                                                                                                                    | 62,390 |  |   | 59,913 |  |
| Total investments and other assets                                                                                              | 1,928,460 |  |   | 1,936,848 |  |
| Total assets                                                                                                                    | $ | 10,792,593 |  |   | $ | 8,946,676 |  |
| Liabilities and equity                                                                                                          |   |  |   |   |  |
| Current liabilities                                                                                                             |   |  |   |   |  |
| Current maturities of long-term debt                                                                                            | $ | 7,851 |  |   | $ | 361,062 |  |
| Notes payable                                                                                                                   | — |  |   | — |  |
| Accounts payable                                                                                                                | 972,192 |  |   | 1,049,284 |  |
| Affiliate payables                                                                                                              | 44,228 |  |   | 41,096 |  |
| Commodity imbalances                                                                                                            | 213,771 |  |   | 202,542 |  |
| Other current liabilities                                                                                                       | 156,980 |  |   | 234,645 |  |
| Total current liabilities                                                                                                       | 1,395,022 |  |   | 1,888,629 |  |
| Long-term debt, excluding current maturities                                                                                    | 4,805,301 |  |   | 3,515,566 |  |
| Deferred credits and other liabilities                                                                                          | 121,871 |  |   | 95,969 |  |
| Commitments and contingencies                                                                                                   |   |   |   |
| Equity                                                                                                                          |   |  |   |   |  |
| ONEOK Partners, L.P. partners’ equity:                                                                                    |   |  |   |   |  |
| General partner                                                                                                                 | 147,228 |  |   | 106,936 |  |
| Common units: 146,827,354 and 130,827,354 units issued and outstanding atSeptember 30, 2012 and December 31, 2011, respectively | 2,948,360 |  |   | 1,959,437 |  |
| Class B units: 72,988,252 units issued and outstanding atSeptember 30, 2012 and December 31, 2011                               | 1,462,097 |  |   | 1,426,115 |  |
| Accumulated other comprehensive loss                                                                                            | (92,098 | ) |   | (51,088 | ) |
| Total ONEOK Partners, L.P. partners’ equity                                                                               | 4,465,587 |  |   | 3,441,400 |  |
| Noncontrolling interests in consolidated subsidiaries                                                                           | 4,812 |  |   | 5,112 |  |
| Total equity                                                                                                                    | 4,470,399 |  |   | 3,446,512 |  |
| Total liabilities and equity                                                                                                    | $ | 10,792,593 |  |   | $ | 8,946,676 |  |

----

|                                                                                 |
|---------------------------------------------------------------------------------|
|                                                                                 |  |  |  |  |  |  |  |
| ONEOK Partners, L.P. and Subsidiaries                                           |   |   |   |
| CONSOLIDATED STATEMENTS OF CASH FLOWS                                           |   |   |   |
|                                                                            | Nine Months Ended |
|                                                                            | September 30, |
| (Unaudited)                                                                     | 2012 |   | 2011 |
|                                                                            | (Thousands of dollars) |
| Operating activities                                                            |   |   |   |
| Net income                                                                      | $ | 677,921 |  |   | $ | 532,136 |  |
| Depreciation and amortization                                                   | 150,024 |  |   | 131,665 |  |
| Allowance for equity funds used during construction                             | (6,126 | ) |   | (1,625 | ) |
| Loss (gain) on sale of assets                                                   | (603 | ) |   | 791 |  |
| Deferred income taxes                                                           | 5,863 |  |   | 4,999 |  |
| Equity earnings from investments                                                | (92,380 | ) |   | (93,665 | ) |
| Distributions received from unconsolidated affiliates                           | 92,996 |  |   | 87,151 |  |
| Changes in assets and liabilities:                                              |   |  |   |   |  |
| Accounts receivable                                                             | 106,834 |  |   | (82,595 | ) |
| Affiliate receivables                                                           | (10,229 | ) |   | (599 | ) |
| Gas and natural gas liquids in storage                                          | (125,033 | ) |   | 73,970 |  |
| Accounts payable                                                                | (76,592 | ) |   | 91,974 |  |
| Affiliate payables                                                              | 3,132 |  |   | 6,713 |  |
| Commodity imbalances, net                                                       | 17,252 |  |   | (67,064 | ) |
| Other assets and liabilities                                                    | (122,539 | ) |   | (28,549 | ) |
| Cash provided by operating activities                                           | 620,520 |  |   | 655,302 |  |
| Investing activities                                                            |   |  |   |   |  |
| Capital expenditures (less allowance for equity funds used during construction) | (1,011,527 | ) |   | (662,386 | ) |
| Contributions to unconsolidated affiliates                                      | (21,284 | ) |   | (51,686 | ) |
| Distributions received from unconsolidated affiliates                           | 25,756 |  |   | 16,158 |  |
| Proceeds from sale of assets                                                    | 1,663 |  |   | 758 |  |
| Cash used in investing activities                                               | (1,005,392 | ) |   | (697,156 | ) |
| Financing activities                                                            |   |  |   |   |  |
| Cash distributions:                                                             |   |  |   |   |  |
| General and limited partners                                                    | (550,978 | ) |   | (451,480 | ) |
| Noncontrolling interests                                                        | (636 | ) |   | (343 | ) |
| Borrowing (repayment) of notes payable, net                                     | — |  |   | (429,855 | ) |
| Issuance of long-term debt, net of discounts                                    | 1,295,036 |  |   | 1,295,450 |  |
| Long-term debt financing costs                                                  | (9,635 | ) |   | (10,986 | ) |
| Repayment of long-term debt                                                     | (358,948 | ) |   | (233,948 | ) |
| Issuance of common units, net of issuance costs                                 | 919,521 |  |   | — |  |
| Contribution from general partner                                               | 19,069 |  |   | — |  |
| Cash provided by financing activities                                           | 1,313,429 |  |   | 168,838 |  |
| Change in cash and cash equivalents                                             | 928,557 |  |   | 126,984 |  |
| Cash and cash equivalents at beginning of period                                | 35,091 |  |   | 898 |  |
| Cash and cash equivalents at end of period                                      | $ | 963,648 |  |   | $ | 127,882 |  |

----

|                                                                                           |
|-------------------------------------------------------------------------------------------|
|                                                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| ONEOK Partners, L.P. and Subsidiaries                                                     |   |   |   |   |   |   |   |
| INFORMATION AT A GLANCE                                                                   |   |   |   |   |   |   |   |
|                                                                                      |   |   |   |   |   |   |   |
|                                                                                      | Three Months Ended |   | Nine Months Ended |
|                                                                                      | September 30, |   | September 30, |
| (Unaudited)                                                                               | 2012 |   | 2011 |   | 2012 |   | 2011 |
|                                                                                      | (Millions of dollars, except as noted) |
| Natural Gas Gathering and Processing                                                      |   |
| Net margin                                                                                | $ | 115.9 |  |   | $ | 104.1 |  |   | $ | 332.3 |  |   | $ | 298.2 |  |
| Operating costs                                                                           | $ | 39.4 |  |   | $ | 35.0 |  |   | $ | 120.9 |  |   | $ | 109.6 |  |
| Depreciation and amortization                                                             | $ | 19.6 |  |   | $ | 17.3 |  |   | $ | 61.3 |  |   | $ | 50.1 |  |
| Operating income                                                                          | $ | 57.0 |  |   | $ | 51.8 |  |   | $ | 151.3 |  |   | $ | 138.3 |  |
| Equity earnings from investments                                                          | $ | 5.5 |  |   | $ | 8.0 |  |   | $ | 21.0 |  |   | $ | 21.9 |  |
| Natural gas gathered (BBtu/d) (a)                                                    | 1,149 |  |   | 1,044 |  |   | 1,091 |  |   | 1,021 |  |
| Natural gas processed (BBtu/d) (a) (b)                                               | 906 |  |   | 723 |  |   | 833 |  |   | 682 |  |
| NGL sales (MBbl/d) (a)                                                               | 62 |  |   | 50 |  |   | 57 |  |   | 47 |  |
| Residue gas sales (BBtu/d) (a)                                                       | 416 |  |   | 348 |  |   | 386 |  |   | 308 |  |
| Realized composite NGL net sales price ($/gallon) (a) (c)                            | $ | 1.10 |  |   | $ | 1.09 |  |   | $ | 1.07 |  |   | $ | 1.09 |  |
| Realized condensate net sales price ($/Bbl) (a) (c)                                  | $ | 86.54 |  |   | $ | 87.89 |  |   | $ | 87.72 |  |   | $ | 81.63 |  |
| Realized residue gas net sales price ($/MMBtu) (a) (c)                               | $ | 3.69 |  |   | $ | 5.25 |  |   | $ | 3.74 |  |   | $ | 5.63 |  |
| Realized gross processing spread ($/MMBtu) (a) (c)                                   | $ | 8.14 |  |   | $ | 8.17 |  |   | $ | 8.23 |  |   | $ | 8.30 |  |
| Capital expenditures - growth                                                             | $ | 152.0 |  |   | $ | 157.9 |  |   | $ | 419.8 |  |   | $ | 386.9 |  |
| Capital expenditures - maintenance                                                        | $ | 5.7 |  |   | $ | 7.1 |  |   | $ | 15.3 |  |   | $ | 17.2 |  |
| (a) - Includes volumes for consolidated entities only.                                    |   |   |   |   |
| (b) - Includes volumes processed at company-owned and third-party facilities.             |   |   |   |   |
| (c) - Presented net of the impact of hedging activities and includes equity volumes only. |   |   |   |   |
|                                                                                      |   |   |   |   |   |   |   |
|                                                                                      |   |   |   |   |   |   |   |
| Natural Gas Pipelines                                                                     |   |   |   |   |   |   |   |
| Net margin                                                                                | $ | 71.4 |  |   | $ | 69.8 |  |   | $ | 212.0 |  |   | $ | 213.9 |  |
| Operating costs                                                                           | $ | 26.3 |  |   | $ | 24.4 |  |   | $ | 78.3 |  |   | $ | 79.1 |  |
| Depreciation and amortization                                                             | $ | 11.6 |  |   | $ | 11.4 |  |   | $ | 34.5 |  |   | $ | 33.9 |  |
| Operating income                                                                          | $ | 33.5 |  |   | $ | 34.0 |  |   | $ | 99.1 |  |   | $ | 100.6 |  |
| Equity earnings from investments                                                          | $ | 18.3 |  |   | $ | 19.8 |  |   | $ | 55.0 |  |   | $ | 57.4 |  |
| Natural gas transportation capacity contracted (MDth/d) (a)                          | 5,249 |  |   | 5,132 |  |   | 5,345 |  |   | 5,353 |  |
| Transportation capacity subscribed (a) (b)                                                | 87 | % |   | 85 | % |   | 88 | % |   | 88 | % |
| Average natural gas price                                                                 |   |   |   |   |   |   |   |
| Mid-Continent region  ($/MMBtu) (a)                                        | $ | 2.75 |  |   | $ | 4.02 |  |   | $ | 2.43 |  |   | $ | 4.10 |  |
| Capital expenditures - growth                                                             | $ | — |  |   | $ | 1.9 |  |   | $ | 1.7 |  |   | $ | 7.6 |  |
| Capital expenditures - maintenance                                                        | $ | 5.1 |  |   | $ | 8.7 |  |   | $ | 12.9 |  |   | $ | 17.6 |  |
| (a) - Includes volumes for consolidated entities only.                                    |   |   |   |   |
| (b) - Prior periods have been recast to reflect current estimated capacity.               |   |   |   |   |
|                                                                                      |   |   |   |   |   |   |   |
|                                                                                      |   |   |   |   |   |   |   |
| Natural Gas Liquids                                                                       |   |   |   |   |   |   |   |
| Net margin                                                                                | $ | 234.6 |  |   | $ | 221.3 |  |   | $ | 703.7 |  |   | $ | 572.5 |  |
| Operating costs                                                                           | $ | 56.8 |  |   | $ | 47.6 |  |   | $ | 166.6 |  |   | $ | 141.1 |  |
| Depreciation and amortization                                                             | $ | 18.6 |  |   | $ | 16.6 |  |   | $ | 54.2 |  |   | $ | 47.6 |  |
| Operating income                                                                          | $ | 158.8 |  |   | $ | 157.1 |  |   | $ | 482.4 |  |   | $ | 383.5 |  |
| Equity earnings from investments                                                          | $ | 4.8 |  |   | $ | 4.3 |  |   | $ | 16.4 |  |   | $ | 14.3 |  |
| NGL sales (MBbl/d)                                                                        | 615 |  |   | 485 |  |   | 544 |  |   | 481 |  |
| NGLs fractionated (MBbl/d) (a)                                                       | 581 |  |   | 529 |  |   | 565 |  |   | 522 |  |
| NGLs transported-gathering lines (MBbl/d) (b)                                        | 530 |  |   | 443 |  |   | 517 |  |   | 424 |  |
| NGLs transported-distribution lines (MBbl/d) (b)                                     | 504 |  |   | 457 |  |   | 489 |  |   | 460 |  |
| Conway-to-Mont Belvieu OPIS average price differential                                    |   |   |   |   |   |   |   |
|   Ethane in ethane/propane mix ($/gallon)                                  | $ | 0.16 |  |   | $ | 0.27 |  |   | $ | 0.21 |  |   | $ | 0.21 |  |
| Capital expenditures - growth                                                             | $ | 198.4 |  |   | $ | 70.1 |  |   | $ | 518.0 |  |   | $ | 215.4 |  |
| Capital expenditures - maintenance                                                        | $ | 13.9 |  |   | $ | 6.4 |  |   | $ | 43.5 |  |   | $ | 17.3 |  |
| (a) - Includes volumes fractionated at company-owned and third-party facilities.          |   |   |   |   |
| (b) - Includes volumes for consolidated entities only.                                    |   |   |   |   |

----

|                                                                    |
|--------------------------------------------------------------------|
|                                                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| ONEOK Partners, L.P. and Subsidiaries                              |   |   |   |   |   |   |   |
| RECONCILIATION OF NON-GAAP FINANCIAL MEASURES                      |   |   |   |   |   |   |   |
|                                                               |   |   |   |   |   |   |   |
|                                                               | Three Months Ended |   | Nine Months Ended |
|                                                               | September 30, |   | September 30, |
| (Unaudited)                                                        | 2012 |   | 2011 |   | 2012 |   | 2011 |
| (Thousands of dollars, except per unit amounts)                    |
|                                                               |   |   |   |   |   |   |   |
| Reconciliation of Net Income to EBITDA and Distributable Cash Flow |   |   |   |   |   |   |   |
| Net income                                                         | $ | 232,377 |  |   | $ | 209,824 |  |   | $ | 677,921 |  |   | $ | 532,136 |  |
| Interest expense                                                   | 47,776 |  |   | 55,735 |  |   | 148,110 |  |   | 170,626 |  |
| Depreciation and amortization                                      | 49,754 |  |   | 45,221 |  |   | 150,024 |  |   | 131,665 |  |
| Income taxes                                                       | 2,626 |  |   | 2,554 |  |   | 9,396 |  |   | 9,253 |  |
| Allowance for equity funds used during construction                | (3,302 | ) |   | (759 | ) |   | (6,126 | ) |   | (1,625 | ) |
| EBITDA                                                             | 329,231 |  |   | 312,575 |  |   | 979,325 |  |   | 842,055 |  |
| Interest expense                                                   | (47,776 | ) |   | (55,735 | ) |   | (148,110 | ) |   | (170,626 | ) |
| Maintenance capital                                                | (25,587 | ) |   | (22,356 | ) |   | (72,089 | ) |   | (52,543 | ) |
| Equity earnings from investments                                   | (28,591 | ) |   | (32,029 | ) |   | (92,380 | ) |   | (93,665 | ) |
| Distributions received from unconsolidated affiliates              | 34,557 |  |   | 32,257 |  |   | 118,752 |  |   | 103,309 |  |
| Other                                                              | (448 | ) |   | (1,359 | ) |   | (4,771 | ) |   | (3,806 | ) |
| Distributable cash flow                                            | $ | 261,386 |  |   | $ | 233,353 |  |   | $ | 780,727 |  |   | $ | 624,724 |  |
|                                                               |   |   |   |   |   |   |   |
| Distributions to general partner                                   | (59,361 | ) |   | (36,696 | ) |   | (161,595 | ) |   | (103,974 | ) |
| Distributable cash flow to limited partners                        | $ | 202,025 |  |   | $ | 196,657 |  |   | $ | 619,132 |  |   | $ | 520,750 |  |
|                                                               |   |   |   |   |   |   |   |
| Distributions declared per limited partner unit                    | $ | 0.685 |  |   | $ | 0.595 |  |   | $ | 1.980 |  |   | $ | 1.755 |  |
| Coverage ratio                                                     | 1.34 |  |   | 1.62 |  |   | 1.45 |  |   | 1.46 |  |
|                                                               |   |   |   |   |   |   |   |
| Number of units used in computation (thousands)               | 219,816 |  |   | 203,816 |  |   | 216,241 |  |   | 203,816 |  |