----

|                   |
|-------------------|
|                   |  |  |  |
| February 25, 2013 |   | Analyst Contact: | Andrew Ziola918-588-7163 |
|              |   | Media Contact: | Brad Borror918-588-7582 |

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|         |                                                                                |
|---------|--------------------------------------------------------------------------------|
| • | 2012 operating income of $962.9 million, compared with $939.5 million in 2011; |

|         |                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------|
| • | Natural gas gathering and processing segment operating income of $210.4 million, compared with $180.6 million in 2011; |

|         |                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------|
| • | Natural gas pipelines segment operating income of $143.8 million, compared with $130.1 million in 2011; |

|         |                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------|
| • | Natural gas liquids segment operating income of $608.2 million, compared with $628.6 million in 2011; |

|         |                                                                                           |
|---------|-------------------------------------------------------------------------------------------|
| • | Equity earnings from investments of $123.0 million, compared with $127.2 million in 2011; |

|         |                                                                           |
|---------|---------------------------------------------------------------------------|
| • | Capital expenditures of $1.6 billion, compared with $1.1 billion in 2011; |

|         |                                                                                                                                                                                              |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Entering into an equity distribution agreement through which it may, from time to time, offer common units representing limited-partner interests up to an aggregate amount of $300 million; |

|         |                                                                                                                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Announcing in November 2012 not to proceed with the Bakken Crude Express Pipeline due to insufficient long-term transportation commitments during its open season, which concluded Nov. 20, 2012; |

|         |                                                                                                                                                                                                 |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Having $537.1 million of cash and cash equivalents and no commercial paper or borrowings outstanding, under the partnership’s $1.2 billion revolving credit facility as of Dec. 31, 2012; |

|         |                                                                                                                                                                                                                                                                                              |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | ONEOK Partners in January 2013 increasing its distribution for the fourth quarter 2012 by 4 percent from the previous quarter to 71 cents per unit, or $2.84 per unit on an annualized basis, payable on Feb. 14, 2013, to unitholders of record at the close of business Jan. 31, 2013; and |

|         |                                                                                                                                                                                                                                                                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Announcing in December 2012 a reorganization to further enhance its commercial and operating capabilities.  Pierce H. Norton II now leads commercial activities; Robert F.  Martinovich now leads operating activities; Derek S. Reiners was named chief financial officer and treasurer; and Sheppard F. Miers III was named chief accounting officer. |

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|         |                                                                                                                                                                                                                                                                                                                 |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A $38.4 million increase due to volume growth in the Williston Basin from the completion of the Garden Creek and Stateline I natural gas processing plants and increased well connections, which resulted in higher natural gas volumes gathered, compressed, processed, transported and sold, and higher fees; |

|         |                                                                                                                                                            |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A $10.6 million decrease due primarily to higher compression costs and less favorable contract terms associated with volume growth in the Williston Basin; |

|         |                                                                                                              |
|---------|--------------------------------------------------------------------------------------------------------------|
| • | A $5.1 million decrease from lower realized natural gas and NGL prices, particularly ethane and propane; and |

|         |                                                                                                                                         |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------|
| • | A $1.8 million decrease from lower natural gas volumes gathered in the Powder River Basin as a result of continued production declines. |

|         |                                                                                                                                                                                                                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A $131.5 million increase due to volume growth in the Williston Basin from the completion of the Garden Creek and Stateline I natural gas processing plants and increased well connections, which resulted in higher natural gas volumes gathered, compressed, processed, transported and sold, and higher fees; |

|         |                                                                                                                                                            |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A $38.1 million decrease due primarily to higher compression costs and less favorable contract terms associated with volume growth in the Williston Basin; |

|         |                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------|
| • | A $31.4 million decrease from lower net realized natural gas and NGL prices, particularly ethane and propane; and |

|         |                                                                                                                                         |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------|
| • | A $5.9 million decrease from lower natural gas volumes gathered in the Powder River Basin as a result of continued production declines. |

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|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Natural gas gathered was 1,201 billion British thermal units per day (BBtu/d) in the fourth quarter 2012, up 14 percent compared with the same period last year due to increased well connections in the Williston Basin and in western Oklahoma, and the completion of additional natural gas gathering lines and compression to support the partnership’s Garden Creek and Stateline I natural gas processing plants in the Williston Basin; offset partially by continued production declines in the Powder River Basin in Wyoming; and up 5 percent compared with the third quarter 2012; |

|         |                                                                                                                                                                                                                                                                                                                                                                                               |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Natural gas processed was 964 BBtu/d in the fourth quarter 2012, up 27 percent compared with the same period last year due to increased well connections in the Williston Basin and western Oklahoma, and the completion of the partnership’s Garden Creek and Stateline I natural gas processing plants in the Williston Basin; and up 6 percent compared with the third quarter 2012; |

|         |                                                                                                                                                                                                              |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The realized composite NGL net sales price was $1.05 per gallon in the fourth quarter 2012, down 1 percent compared with the same period last year; and down 5 percent compared with the third quarter 2012; |

|         |                                                                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The realized condensate net sales price was $90.21 per barrel in the fourth quarter 2012, up 6 percent compared with the same period last year; and up 4 percent compared with the third quarter 2012; |

|         |                                                                                                                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The realized residue natural gas net sales price was $4.27 per million British thermal units (MMBtu) in the fourth quarter 2012, down 16 percent compared with the same period last year; and up 16 percent compared with the third quarter 2012; and |

|         |                                                                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The realized gross processing spread was $7.51 per MMBtu in the fourth quarter 2012, down 4 percent compared with the same period last year; and down 8 percent compared with the third quarter 2012. |

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|                                                                                |
|--------------------------------------------------------------------------------|
|                                                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                           |   | Three Months Ended |   | Years Ended |
|                                                                           |   | December 31, |   | December 31, |
| Operating Information (a)                                                      |   | 2012 |   | 2011 |   | 2012 |   | 2011 |
| Percent of proceeds                                                            |   |   |   |   |   |   |   |   |
| NGL sales (Bbl/d) (b)                                                          |   | 11,186 |  |   | 6,777 |  |   | 9,803 |  |   | 6,472 |  |
| Residue gas sales (MMBtu/d) (b)                                                |   | 71,044 |  |   | 52,338 |  |   | 65,205 |  |   | 48,198 |  |
| Condensate sales (Bbl/d) (b)                                                   |   | 1,877 |  |   | 1,438 |  |   | 2,104 |  |   | 1,684 |  |
| Percentage of total net margin                                                 |   | 67 | % |   | 62 | % |   | 64 | % |   | 61 | % |
| Fee-based                                                                      |   |   |   |   |   |   |   |   |
| Wellhead volumes (MMBtu/d)                                                     |   | 1,200,980 |  |   | 1,057,269 |  |   | 1,118,693 |  |   | 1,030,045 |  |
| Average rate ($/MMBtu)                                                         |   | $ | 0.33 |  |   | $ | 0.35 |  |   | $ | 0.35 |  |   | $ | 0.34 |  |
| Percentage of total net margin                                                 |   | 30 | % |   | 32 | % |   | 31 | % |   | 32 | % |
| Keep-whole                                                                     |   |   |   |   |   |   |   |   |
| NGL shrink (MMBtu/d) (c)                                                       |   | 7,001 |  |   | 8,668 |  |   | 6,747 |  |   | 10,131 |  |
| Plant fuel (MMBtu/d) (c)                                                       |   | 743 |  |   | 837 |  |   | 757 |  |   | 1,104 |  |
| Condensate shrink (MMBtu/d) (c)                                                |   | 342 |  |   | 761 |  |   | 904 |  |   | 1,082 |  |
| Condensate sales (Bbl/d)                                                       |   | 69 |  |   | 154 |  |   | 183 |  |   | 219 |  |
| Percentage of total net margin                                                 |   | 3 | % |   | 6 | % |   | 5 | % |   | 7 | % |
| (a) - Includes volumes for consolidated entities only.                         |   |   |   |   |   |   |
| (b) - Represent equity volumes.                                                |   |   |   |   |   |   |   |   |
| (c) - Refers to the Btus that are removed from natural gas through processing. |   |   |

----

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |
|                  |   | Year Ending December 31, 2013 |
|                  |   | VolumesHedged |   | Average Price |   | PercentageHedged |
| NGLs (Bbl/d)          |   | 6,439 |  |   | $ | 1.19 |  | / gallon | 45% |
| Condensate (Bbl/d)    |   | 2,038 |  |   | $ | 2.43 |  | / gallon | 83% |
| Total (Bbl/d)         |   | 8,477 |  |   | $ | 1.49 |  | / gallon | 51% |
| Natural gas (MMBtu/d) |   | 60,014 |  |   | $ | 3.79 |  | / MMBtu | 79% |
|                  |   |   |   |   |   |   |   |
|                  |   |   |   |   |   |   |   |
|                  |   | Year Ending December 31, 2014 |
|                  |   | VolumesHedged |   | Average Price |   | PercentageHedged |
| Condensate (Bbl/d)    |   | 868 |  |   | $ | 2.22 |  | / gallon | 33% |
| Natural gas (MMBtu/d) |   | 36,726 |  |   | $ | 4.11 |  | / MMBtu | 48% |

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|         |                                                                                                                                                                                                                                       |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Natural gas transportation capacity contracted was 5,429 thousand dekatherms per day in the fourth quarter 2012, relatively unchanged compared with the same period last year; and up 3 percent compared with the third quarter 2012; |

|         |                                                                                                                                                                                                |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Natural gas transportation capacity subscribed was 90 percent in the fourth quarter 2012, unchanged compared with the same period last year; and up 3 percent from the third quarter 2012; and |

|         |                                                                                                                                                                                                                         |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The average natural gas price in the Mid-Continent region was $3.29 per MMBtu in the fourth quarter 2012, up 3 percent compared with the same period last year; and up 20 percent compared with the third quarter 2012. |

|         |                                                                                       |
|---------|---------------------------------------------------------------------------------------|
| • | A $141.4 million decrease due primarily to narrower NGL location price differentials; |

|         |                                                                                    |
|---------|------------------------------------------------------------------------------------|
| • | A $7.3 million decrease in isomerization margins from lower isomerization volumes; |

|         |                                                                              |
|---------|------------------------------------------------------------------------------|
| • | A $3.1 million decrease due to the impact of operational measurement losses; |

|         |                                                                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A $32.8 million increase from higher NGL volumes gathered and fractionated, and higher fees from contract renegotiations for its NGL exchange-services activities; and |

|         |                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------|
| • | A $3.5 million increase due to higher NGL storage margins as a result of favorable contract renegotiations. |

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|         |                                                                                                                                                                                                                         |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A $101.5 million increase from higher NGL volumes gathered and fractionated related to the completion of certain growth projects and higher fees from contract renegotiations for its NGL exchange-services activities; |

|         |                                                                                                              |
|---------|--------------------------------------------------------------------------------------------------------------|
| • | A $13.1 million increase due to higher NGL storage margins as a result of favorable contract renegotiations; |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A $91.2 million decrease in optimization and marketing margins, which resulted from a $94.6 million decrease from narrower NGL location price differentials and less transportation capacity available for optimization activities; an increasing portion of its transportation capacity between the Conway, Kan., and Mont Belvieu, Texas, NGL market centers now is utilized by its exchange-services activities to produce fee-based earnings.  This decrease was offset partially by a $3.5 million increase in its marketing activities, which benefited from higher NGL truck and rail volumes; |

|         |                                                                                  |
|---------|----------------------------------------------------------------------------------|
| • | A $4.5 million decrease due to the impact of operational measurement losses; and |

|         |                                                                                              |
|---------|----------------------------------------------------------------------------------------------|
| • | A $3.4 million decrease due to lower isomerization margins from lower isomerization volumes. |

|         |                                                                                                                                                                                                                                                                                                                                           |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | NGLs fractionated were 600,000 barrels per day (bpd) in the fourth quarter 2012, up 3 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 3 percent compared with the third quarter 2012; |

|         |                                                                                                                                                                                                                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | NGLs transported on gathering lines were 531,000 bpd in the fourth quarter 2012, up 12 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 relatively unchanged compared with the third quarter 2012; |

|         |                                                                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | NGLs transported on distribution lines were 507,000 bpd in the fourth quarter 2012, down 1 percent compared with the same period last year; and up 1 percent compared with the third quarter 2012; and |

|         |                                                                                                                                                                             |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The average Conway-to-Mont Belvieu price differential of ethane in ethane/propane mix, based on Oil Price Information Service (OPIS) pricing, was 7 cents per gallon in the |

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|         |                                                                                                |
|---------|------------------------------------------------------------------------------------------------|
| • | Approximately $2.6 billion to $3.0 billion for the following natural gas liquids projects: |

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

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | 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 by adding an incremental 75,000 bpd 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 these NGL pipelines was completed in April 2012, and the partnership connected three new third-party natural gas processing facilities and three existing third-party natural gas processing facilities that were expanded to its NGL gathering system.  In addition, the installation of additional pump stations on the Arbuckle Pipeline was completed, increasing its capacity to 240,000 bpd; |

|         |                                                                                                                                                                                                                                             |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | 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 NGL volumes from the Mid-Continent and Williston Basin; |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | 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 2013, with an initial capacity of 60,000 bpd; |

|         |                                                                                                                                                                                                                                      |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | 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; |

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|         |                                                                                                                                                                               |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | 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 $610 million to $810 million for the construction of a 540-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 an 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 $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 2014; |

|         |                                                                                                                                                                                                                         |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | 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 2014; |

|         |                                                                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | 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 2014; and |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | Approximately $140 million, announced in January 2013, for the construction of an approximately 95-mile NGL pipeline between existing NGL fractionation infrastructure at Hutchinson, Kan., and Medford, Okla., and the modification of the partnership’s NGL fractionation infrastructure at Hutchinson, Kan., to accommodate lighter, unfractionated NGLs produced in the Williston Basin; both projects are expected to be completed in the first quarter 2015. |

|         |                                                                                                                           |
|---------|---------------------------------------------------------------------------------------------------------------------------|
| • | Approximately $2.1 billion to $2.3 billion for the following 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 and Three Forks formations in the Williston Basin in North Dakota that was placed into 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 $560 million to $660 million to construct the Stateline I and II plants, 100-MMcf/d natural gas processing facilities, and related NGL infrastructure, expansions and upgrades to the existing gathering and compression infrastructure, |

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|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | 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 and Three Forks formations 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; |

|         |                                                                                                                                                                                                                                                                                                                                                                                |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | 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 and Three Forks formations in the Williston Basin in North Dakota, which is expected to be in service in the third quarter 2014; and expansions and upgrades to the existing gathering and compression infrastructure; and |

|         |                                                                                                                                                                                                                                                                                                                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | Approximately $325 million to $360 million, announced in January 2013, to construct the Garden Creek III plant, a 100-MMcf/d natural gas processing facility in the Bakken Shale and Three Forks formations in the Williston Basin in North Dakota, which is expected to be in service in the first quarter 2015; and expansions and upgrades to the existing gathering and compression infrastructure. |

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----

----

----

|         |                                                                                                                                             |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------|
| • | 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 between 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 or extended periods of ethane rejection; |

|         |                                                                                                                                                                              |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | 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 |   | Years Ended |
|                                                                                                |   | December 31, |   | December 31, |
| (Unaudited)                                                                                         |   | 2012 |   | 2011 |   | 2012 |   | 2011 |
|                                                                                                |   | (Thousands of dollars, except per unit amounts) |
| Revenues                                                                                            |   | $ | 2,915,797 |  |   | $ | 3,135,202 |  |   | $ | 10,182,151 |  |   | $ | 11,322,607 |  |
| Cost of sales and fuel                                                                              |   | 2,516,254 |  |   | 2,640,922 |  |   | 8,540,319 |  |   | 9,745,227 |  |
| Net margin                                                                                          |   | 399,543 |  |   | 494,280 |  |   | 1,641,832 |  |   | 1,577,380 |  |
| Operating expenses                                                                                  |   |   |   |   |   |   |   |   |
| Operations and maintenance                                                                          |   | 113,158 |  |   | 123,142 |  |   | 433,063 |  |   | 414,488 |  |
| Depreciation and amortization                                                                       |   | 53,077 |  |   | 45,884 |  |   | 203,101 |  |   | 177,549 |  |
| General taxes                                                                                       |   | 8,972 |  |   | 7,592 |  |   | 49,477 |  |   | 44,876 |  |
| Total operating expenses                                                                            |   | 175,207 |  |   | 176,618 |  |   | 685,641 |  |   | 636,913 |  |
| Gain (loss) on sale of assets                                                                       |   | 6,133 |  |   | (172 | ) |   | 6,736 |  |   | (963 | ) |
| Operating income                                                                                    |   | 230,469 |  |   | 317,490 |  |   | 962,927 |  |   | 939,504 |  |
| Equity earnings from investments                                                                    |   | 30,644 |  |   | 33,581 |  |   | 123,024 |  |   | 127,246 |  |
| Allowance for equity funds used during construction                                                 |   | 7,522 |  |   | 710 |  |   | 13,648 |  |   | 2,335 |  |
| Other income                                                                                        |   | 1,010 |  |   | 3,249 |  |   | 7,577 |  |   | 1,060 |  |
| Other expense                                                                                       |   | (521 | ) |   | (447 | ) |   | (2,625 | ) |   | (3,547 | ) |
| Interest expense (net of capitalized interest of $11,010,$9,505, $40,482 and $22,221, respectively) |   | (57,908 | ) |   | (52,511 | ) |   | (206,018 | ) |   | (223,137 | ) |
| Income before income taxes                                                                          |   | 211,216 |  |   | 302,072 |  |   | 898,533 |  |   | 843,461 |  |
| Income taxes                                                                                        |   | (709 | ) |   | (3,316 | ) |   | (10,105 | ) |   | (12,569 | ) |
| Net income                                                                                          |   | 210,507 |  |   | 298,756 |  |   | 888,428 |  |   | 830,892 |  |
| Less:  Net income attributable to noncontrolling interests                                          |   | 102 |  |   | 157 |  |   | 438 |  |   | 573 |  |
| Net income attributable to ONEOK Partners, L.P.                                                     |   | $ | 210,405 |  |   | $ | 298,599 |  |   | $ | 887,990 |  |   | $ | 830,319 |  |
|                                                                                                |   |   |   |   |   |   |   |   |
| Limited partners’ interest in net income:                                                     |   |   |   |   |   |   |   |   |
| Net income attributable to ONEOK Partners, L.P.                                                     |   | $ | 210,405 |  |   | $ | 298,599 |  |   | $ | 887,990 |  |   | $ | 830,319 |  |
| General partner’s interest in net income                                                      |   | (64,645 | ) |   | (42,444 | ) |   | (227,855 | ) |   | (147,820 | ) |
| Limited partners’ interest in net income                                                      |   | $ | 145,760 |  |   | $ | 256,155 |  |   | $ | 660,135 |  |   | $ | 682,499 |  |
|                                                                                                |   |   |   |   |   |   |   |   |
| Limited partners’ net income per unit, basic and diluted                                      |   | $ | 0.66 |  |   | $ | 1.26 |  |   | $ | 3.04 |  |   | $ | 3.35 |  |
|                                                                                                |   |   |   |   |   |   |   |   |
| Number of units used in computation (thousands)                                                     |   | 219,816 |  |   | 203,816 |  |   | 217,134 |  |   | 203,816 |  |
|                                                                                                |   |   |   |   |   |   |   |   |

----

|                                                                             |
|-----------------------------------------------------------------------------|
|                                                                             |  |  |  |  |  |  |  |  |
| ONEOK Partners, L.P. and Subsidiaries                                       |   |   |   |   |
| CONSOLIDATED BALANCE SHEETS                                                 |   |   |   |   |
|                                                                        |   | December 31, |   | December 31, |
| (Unaudited)                                                                 |   | 2012 |   | 2011 |
| Assets                                                                      |   | (Thousands of dollars) |
| Current assets                                                              |   |   |   |   |
| Cash and cash equivalents                                                   |   | $ | 537,074 |  |   | $ | 35,091 |  |
| Accounts receivable, net                                                    |   | 914,036 |  |   | 922,237 |  |
| Affiliate receivables                                                       |   | 16,092 |  |   | 4,132 |  |
| Gas and natural gas liquids in storage                                      |   | 235,836 |  |   | 202,186 |  |
| Commodity imbalances                                                        |   | 89,704 |  |   | 62,884 |  |
| Other current assets                                                        |   | 98,966 |  |   | 79,343 |  |
| Total current assets                                                        |   | 1,891,708 |  |   | 1,305,873 |  |
|                                                                        |   |   |   |   |
| Property, plant and equipment                                               |   |   |   |   |
| Property, plant and equipment                                               |   | 8,585,142 |  |   | 6,963,652 |  |
| Accumulated depreciation and amortization                                   |   | 1,440,871 |  |   | 1,259,697 |  |
| Net property, plant and equipment                                           |   | 7,144,271 |  |   | 5,703,955 |  |
|                                                                        |   |   |   |   |
| Investments and other assets                                                |   |   |   |   |
| Investments in unconsolidated affiliates                                    |   | 1,221,405 |  |   | 1,223,398 |  |
| Goodwill and intangible assets                                              |   | 645,871 |  |   | 653,537 |  |
| Other assets                                                                |   | 55,975 |  |   | 59,913 |  |
| Total investments and other assets                                          |   | 1,923,251 |  |   | 1,936,848 |  |
| Total assets                                                                |   | $ | 10,959,230 |  |   | $ | 8,946,676 |  |
|                                                                        |   |   |   |   |
| Liabilities and equity                                                      |   |   |   |   |
| Current liabilities                                                         |   |   |   |   |
| Current maturities of long-term debt                                        |   | $ | 7,650 |  |   | $ | 361,062 |  |
| Notes payable                                                               |   | — |  |   | — |  |
| Accounts payable                                                            |   | 1,058,007 |  |   | 1,049,284 |  |
| Affiliate payables                                                          |   | 75,710 |  |   | 41,096 |  |
| Commodity imbalances                                                        |   | 273,173 |  |   | 202,542 |  |
| Other current liabilities                                                   |   | 155,892 |  |   | 234,645 |  |
| Total current liabilities                                                   |   | 1,570,432 |  |   | 1,888,629 |  |
|                                                                        |   |   |   |   |
| Long-term debt, excluding current maturities                                |   | 4,803,629 |  |   | 3,515,566 |  |
|                                                                        |   |   |   |   |
| Deferred credits and other liabilities                                      |   | 121,662 |  |   | 95,969 |  |
|                                                                        |   |   |   |   |
| Commitments and contingencies                                               |   |   |   |   |
|                                                                        |   |   |   |   |
| Equity                                                                      |   |   |   |   |
| ONEOK Partners, L.P. partners’ equity:                                |   |   |   |   |
| General partner                                                             |   | 152,513 |  |   | 106,936 |  |
| Common units: 146,827,354 and 130,827,354 units issued and outstanding at   |   |   |   |   |
| December 31, 2012 and December 31, 2011, respectively                       |   | 2,945,051 |  |   | 1,959,437 |  |
| Class B units: 72,988,252 units issued and outstanding at December 31, 2012 |   |   |   |   |
| and December 31, 2011                                                       |   | 1,460,498 |  |   | 1,426,115 |  |
| Accumulated other comprehensive loss                                        |   | (99,322 | ) |   | (51,088 | ) |
| Total ONEOK Partners, L.P. partners’ equity                           |   | 4,458,740 |  |   | 3,441,400 |  |
|                                                                        |   |   |   |   |
| Noncontrolling interests in consolidated subsidiaries                       |   | 4,767 |  |   | 5,112 |  |
|                                                                        |   |   |   |   |
| Total equity                                                                |   | 4,463,507 |  |   | 3,446,512 |  |
| Total liabilities and equity                                                |   | $ | 10,959,230 |  |   | $ | 8,946,676 |  |

----

|                                                                                 |
|---------------------------------------------------------------------------------|
|                                                                                 |  |  |  |  |  |  |  |  |
| ONEOK Partners, L.P. and Subsidiaries                                           |   |   |   |   |
| CONSOLIDATED STATEMENTS OF CASH FLOWS                                           |   |   |
|                                                                            |   | Years Ended December 31, |
| (Unaudited)                                                                     |   | 2012 |   | 2011 |
|                                                                            |   | (Thousands of dollars) |
| Operating activities                                                            |   |   |   |   |
| Net income                                                                      |   | $ | 888,428 |  |   | $ | 830,892 |  |
| Depreciation and amortization                                                   |   | 203,101 |  |   | 177,549 |  |
| Allowance for equity funds used during construction                             |   | (13,648 | ) |   | (2,335 | ) |
| Loss (gain) on sale of assets                                                   |   | (6,736 | ) |   | 963 |  |
| Deferred income taxes                                                           |   | 6,815 |  |   | 4,417 |  |
| Equity earnings from investments                                                |   | (123,024 | ) |   | (127,246 | ) |
| Distributions received from unconsolidated affiliates                           |   | 120,442 |  |   | 132,741 |  |
| Changes in assets and liabilities:                                              |   |   |   |   |
| Accounts receivable                                                             |   | 8,201 |  |   | (107,096 | ) |
| Affiliate receivables                                                           |   | (11,960 | ) |   | 1,029 |  |
| Gas and natural gas liquids in storage                                          |   | (33,650 | ) |   | 114,973 |  |
| Accounts payable                                                                |   | (45,014 | ) |   | 161,323 |  |
| Affiliate payables                                                              |   | 34,614 |  |   | 11,331 |  |
| Commodity imbalances, net                                                       |   | 43,811 |  |   | (59,099 | ) |
| Other assets and liabilities                                                    |   | (125,327 | ) |   | (9,707 | ) |
| Cash provided by operating activities                                           |   | 946,053 |  |   | 1,129,735 |  |
|                                                                            |   |   |   |   |
| Investing activities                                                            |   |   |   |   |
| Capital expenditures (less allowance for equity funds used during construction) | (1,560,513 | ) |   | (1,063,383 | ) |
| Contributions to unconsolidated affiliates                                      |   | (30,768 | ) |   | (64,491 | ) |
| Distributions received from unconsolidated affiliates                           |   | 35,299 |  |   | 23,644 |  |
| Proceeds from sale of assets                                                    |   | 10,778 |  |   | 1,093 |  |
| Cash used in investing activities                                               |   | (1,545,204 | ) |   | (1,103,137 | ) |
|                                                                            |   |   |   |   |
| Financing activities                                                            |   |   |   |   |
| Cash distributions:                                                             |   |   |   |   |
| General and limited partners                                                    |   | (760,912 | ) |   | (609,446 | ) |
| Noncontrolling interests                                                        |   | (783 | ) |   | (637 | ) |
| 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                                                  |   | (9,641 | ) |   | (10,986 | ) |
| Repayment of long-term debt                                                     |   | (361,062 | ) |   | (236,931 | ) |
| Issuance of common units, net of issuance costs                                 |   | 919,427 |  |   | — |  |
| Contribution from general partner                                               |   | 19,069 |  |   | — |  |
| Cash provided by financing activities                                           |   | 1,101,134 |  |   | 7,595 |  |
| Change in cash and cash equivalents                                             |   | 501,983 |  |   | 34,193 |  |
| Cash and cash equivalents at beginning of period                                |   | 35,091 |  |   | 898 |  |
| Cash and cash equivalents at end of period                                      |   | $ | 537,074 |  |   | $ | 35,091 |  |
| Supplemental cash flow information:                                             |   |   |   |   |
| Cash paid for interest, net of amounts capitalized                              |   | $ | 317,044 |  |   | $ | 198,579 |  |
| Cash paid for income taxes                                                      |   | $ | 7,542 |  |   | $ | 2,252 |  |

----

|                                                                                                 |
|-------------------------------------------------------------------------------------------------|
|                                                                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| ONEOK Partners, L.P. and Subsidiaries                                                           |   |   |   |   |   |   |   |   |
| INFORMATION AT A GLANCE                                                                         |   |   |   |   |   |   |   |   |
|                                                                                            | Three Months Ended | Years Ended |
|                                                                                            | December 31, | December 31, |
| (Unaudited)                                                                                     |   | 2012 |   | 2011 |   | 2012 |   | 2011 |
|                                                                                            | (Millions of dollars, except as noted) |
| Natural Gas Gathering and Processing                                                            |   |   |   |   |   |   |   |   |
| Net margin                                                                                      |   | $ | 122.9 |  |   | $ | 104.7 |  |   | $ | 455.2 |  |   | $ | 402.9 |  |
| Operating costs                                                                                 |   | $ | 43.2 |  |   | $ | 44.1 |  |   | $ | 164.0 |  |   | $ | 153.7 |  |
| Depreciation and amortization                                                                   |   | $ | 21.7 |  |   | $ | 18.1 |  |   | $ | 83.0 |  |   | $ | 68.3 |  |
| Operating income                                                                                |   | $ | 59.1 |  |   | $ | 42.3 |  |   | $ | 210.4 |  |   | $ | 180.6 |  |
| Equity earnings from investments                                                                |   | $ | 8.1 |  |   | $ | 8.6 |  |   | $ | 29.1 |  |   | $ | 30.5 |  |
| Natural gas gathered (BBtu/d) (a)                                                               |   | 1,201 |  |   | 1,057 |  |   | 1,119 |  |   | 1,030 |  |
| Natural gas processed (BBtu/d) (a) (b)                                                          |   | 964 |  |   | 758 |  |   | 866 |  |   | 713 |  |
| NGL sales (MBbl/d) (a)                                                                          |   | 70 |  |   | 51 |  |   | 61 |  |   | 48 |  |
| Residue gas sales (BBtu/d) (a)                                                                  |   | 430 |  |   | 345 |  |   | 397 |  |   | 317 |  |
| Realized composite NGL net sales price ($/gallon) (a) (c)                                       |   | $ | 1.05 |  |   | $ | 1.06 |  |   | $ | 1.06 |  |   | $ | 1.08 |  |
| Realized condensate net sales price ($/Bbl) (a) (c)                                             |   | $ | 90.21 |  |   | $ | 85.39 |  |   | $ | 88.22 |  |   | $ | 82.56 |  |
| Realized residue gas net sales price ($/MMBtu) (a) (c)                                          |   | $ | 4.27 |  |   | $ | 5.08 |  |   | $ | 3.87 |  |   | $ | 5.47 |  |
| Realized gross processing spread ($/MMBtu) (a) (c)                                              |   | $ | 7.51 |  |   | $ | 7.79 |  |   | $ | 8.05 |  |   | $ | 8.17 |  |
| Capital expenditures - growth                                                                   |   | $ | 124.9 |  |   | $ | 212.1 |  |   | $ | 544.7 |  |   | $ | 599.0 |  |
| Capital expenditures - maintenance                                                              |   | $ | 6.1 |  |   | $ | 7.5 |  |   | $ | 21.4 |  |   | $ | 24.7 |  |
| (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                                                                                      |   | $ | 74.1 |  |   | $ | 70.5 |  |   | $ | 286.1 |  |   | $ | 284.4 |  |
| Operating costs                                                                                 |   | $ | 23.6 |  |   | $ | 29.5 |  |   | $ | 101.9 |  |   | $ | 108.6 |  |
| Depreciation and amortization                                                                   |   | $ | 11.2 |  |   | $ | 11.5 |  |   | $ | 45.7 |  |   | $ | 45.4 |  |
| Operating income                                                                                |   | $ | 44.7 |  |   | $ | 29.5 |  |   | $ | 143.8 |  |   | $ | 130.1 |  |
| Equity earnings from investments                                                                |   | $ | 18.2 |  |   | $ | 19.4 |  |   | $ | 73.2 |  |   | $ | 76.9 |  |
| Natural gas transportation capacity contracted (MDth/d) (a)                                     |   | 5,429 |  |   | 5,433 |  |   | 5,366 |  |   | 5,373 |  |
| Transportation capacity subscribed (a) (b)                                                      |   | 90 | % |   | 90 | % |   | 89 | % |   | 89 | % |
| Average natural gas priceMid-Continent region ($/MMBtu) (a)                                     |   | $ | 3.29 |  |   | $ | 3.20 |  |   | $ | 2.64 |  |   | $ | 3.88 |  |
| Capital expenditures - growth                                                                   |   | $ | — |  |   | $ | 1.6 |  |   | $ | 1.2 |  |   | $ | 9.2 |  |
| Capital expenditures - maintenance                                                              |   | $ | 10.8 |  |   | $ | 11.0 |  |   | $ | 24.2 |  |   | $ | 28.6 |  |
| (a) - Includes volumes for consolidated entities only.                                          |   |   |   |   |   |   |   |   |
| (b) - Prior periods have been recast to reflect current estimated capacity.                     |   |   |   |   |   |   |
|                                                                                            |   |   |   |   |   |   |   |   |
| Natural Gas Liquids                                                                             |   |   |   |   |   |   |   |   |
| Net margin                                                                                      |   | $ | 203.7 |  |   | $ | 319.2 |  |   | $ | 907.3 |  |   | $ | 891.8 |  |
| Operating costs                                                                                 |   | $ | 57.2 |  |   | $ | 57.8 |  |   | $ | 223.8 |  |   | $ | 198.9 |  |
| Depreciation and amortization                                                                   |   | $ | 20.2 |  |   | $ | 16.3 |  |   | $ | 74.3 |  |   | $ | 63.9 |  |
| Operating income                                                                                |   | $ | 125.8 |  |   | $ | 245.1 |  |   | $ | 608.2 |  |   | $ | 628.6 |  |
| Equity earnings from investments                                                                |   | $ | 4.3 |  |   | $ | 5.5 |  |   | $ | 20.7 |  |   | $ | 19.9 |  |
| NGL sales (MBbl/d)                                                                              |   | 654 |  |   | 543 |  |   | 572 |  |   | 497 |  |
| NGLs fractionated (MBbl/d) (a)                                                                  |   | 600 |  |   | 583 |  |   | 574 |  |   | 537 |  |
| NGLs transported-gathering lines (MBbl/d) (b)                                                   |   | 531 |  |   | 473 |  |   | 520 |  |   | 436 |  |
| NGLs transported-distribution lines (MBbl/d) (b)                                                |   | 507 |  |   | 512 |  |   | 491 |  |   | 473 |  |
| Average Conway-to-Mont Belvieu OPIS price differential -ethane in ethane/propane mix ($/gallon) |   | $ | 0.07 |  |   | $ | 0.49 |  |   | $ | 0.17 |  |   | $ | 0.28 |  |
| Capital expenditures - growth                                                                   |   | $ | 394.4 |  |   | $ | 145.8 |  |   | $ | 912.4 |  |   | $ | 361.2 |  |
| Capital expenditures - maintenance                                                              |   | $ | 12.6 |  |   | $ | 22.8 |  |   | $ | 56.1 |  |   | $ | 40.1 |  |
| (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 |   | Twelve Months Ended |
|                                                               |   | December 31, |   | December 31, |
| (Unaudited)                                                        |   | 2012 |   | 2011 |   | 2012 |   | 2011 |
|                                                               |   | (Thousands of dollars, except per unit amounts) |
|                                                               |   |   |   |   |   |   |   |   |
| Reconciliation of Net Income to EBITDA and Distributable Cash Flow |   |   |   |   |   |   |
| Net income                                                         |   | $ | 210,507 |  |   | $ | 298,756 |  |   | $ | 888,428 |  |   | $ | 830,892 |  |
| Interest expense                                                   |   | 57,908 |  |   | 52,511 |  |   | 206,018 |  |   | 223,137 |  |
| Depreciation and amortization                                      |   | 53,077 |  |   | 45,884 |  |   | 203,101 |  |   | 177,549 |  |
| Income taxes                                                       |   | 709 |  |   | 3,316 |  |   | 10,105 |  |   | 12,569 |  |
| Allowance for equity funds used during construction                |   | (7,522 | ) |   | (710 | ) |   | (13,648 | ) |   | (2,335 | ) |
| EBITDA                                                             |   | 314,679 |  |   | 399,757 |  |   | 1,294,004 |  |   | 1,241,812 |  |
| Interest expense                                                   |   | (57,908 | ) |   | (52,511 | ) |   | (206,018 | ) |   | (223,137 | ) |
| Maintenance capital                                                |   | (30,072 | ) |   | (41,408 | ) |   | (102,161 | ) |   | (93,951 | ) |
| Equity earnings from investments                                   |   | (30,644 | ) |   | (33,581 | ) |   | (123,024 | ) |   | (127,246 | ) |
| Distributions received from unconsolidated affiliates              |   | 36,989 |  |   | 53,076 |  |   | 155,741 |  |   | 156,385 |  |
| Other                                                              |   | (6,038 | ) |   | (4,021 | ) |   | (10,809 | ) |   | (7,827 | ) |
| Distributable cash flow                                            |   | $ | 227,006 |  |   | $ | 321,312 |  |   | $ | 1,007,733 |  |   | $ | 946,036 |  |
|                                                               |   |   |   |   |   |   |   |   |
|                                                               |   |   |   |   |   |   |   |   |
| Distributions to general partner                                   |   | (64,855 | ) |   | (39,753 | ) |   | (226,450 | ) |   | (143,727 | ) |
| Distributable cash flow to limited partners                        |   | $ | 162,151 |  |   | $ | 281,559 |  |   | $ | 781,283 |  |   | $ | 802,309 |  |
|                                                               |   |   |   |   |   |   |   |   |
| Distributions declared per limited partner unit                    |   | $ | 0.710 |  |   | $ | 0.610 |  |   | $ | 2.690 |  |   | $ | 2.365 |  |
| Coverage ratio                                                     |   | 1.04 |  |   | 2.26 |  |   | 1.34 |  |   | 1.66 |  |
|                                                               |   |   |   |   |   |   |   |   |
|                                                               |   |   |   |   |   |   |   |   |
| Number of units used in computation (thousands)                    |   | 219,816 |  |   | 203,816 |  |   | 217,134 |  |   | 203,816 |  |

----

|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |  |  |
| ONEOK Partners, L.P. and Subsidiaries            |   |   |   |
| EARNINGS GUIDANCE*                               |   |   |   |
|                                             |   |   |   |
|                                             | Updated | Previous |   |
|                                             | 2013 | 2013 |   |
|                                             | Guidance | Guidance | Change |
|                                             | (Millions of dollars) |
|                                             |   |   |   |
| Operating income                                 |   |   |   |
| Natural Gas Gathering and Processing             | $ | 238 |  | $ | 253 |  | $ | (15 | ) |
| Natural Gas Pipelines                            | 153 |  | 144 |  | 9 |  |
| Natural Gas Liquids                              | 545 |  | 630 |  | (85 | ) |
| Operating income                                 | 936 |  | 1,027 |  | (91 | ) |
| Equity earnings from investments                 | 110 |  | 138 |  | (28 | ) |
| Other income (expense)                           | 25 |  | 46 |  | (21 | ) |
| Interest expense                                 | (227 | ) | (222 | ) | (5 | ) |
| Income before income taxes                       | 844 |  | 989 |  | (145 | ) |
| Income taxes                                     | (14 | ) | (14 | ) | — |  |
| Net income attributable to ONEOK Partners, L.P.  | $ | 830 |  | $ | 975 |  | $ | (145 | ) |
|                                             |   |   |   |
|                                             |   |   |   |
| Capital expenditures                             |   |   |   |
| Natural Gas Gathering and Processing             | $ | 1,025 |  | $ | 691 |  | $ | 334 |  |
| Natural Gas Pipelines                            | 50 |  | 44 |  | 6 |  |
| Natural Gas Liquids                              | 1,560 |  | 1,863 |  | (303 | ) |
| Other                                            | 5 |  | 6 |  | (1 | ) |
| Total capital expenditures                       | $ | 2,640 |  | $ | 2,604 |  | $ | 36 |  |
|                                             |   |   |   |
| Growth                                           | $ | 2,520 |  | $ | 2,485 |  | $ | 35 |  |
| Maintenance                                      | 120 |  | 119 |  | 1 |  |
| Total capital expenditures                       | $ | 2,640 |  | $ | 2,604 |  | $ | 36 |  |
|                                             |   |   |   |
| *Amounts shown are midpoints of ranges provided. |   |   |   |

----

|                                                                    |
|--------------------------------------------------------------------|
|                                                                    |  |  |  |  |  |  |  |  |  |
| ONEOK Partners, L.P. and Subsidiaries                              |   |   |   |
| EARNINGS GUIDANCE*                                                 |   |   |   |
|                                                               |   |   |   |
|                                                               | Updated | Previous |   |
|                                                               | 2013 | 2013 |   |
|                                                               | Guidance | Guidance | Change |
|                                                               | (Millions of dollars) |
|                                                               |   |   |   |
| Reconciliation of Net Income to EBITDA and Distributable Cash Flow |   |   |
| Net income                                                         | $ | 830 |  | $ | 975 |  | $ | (145 | ) |
| Interest expense                                                   | 227 |  | 222 |  | 5 |  |
| Depreciation and amortization                                      | 251 |  | 257 |  | (6 | ) |
| Income taxes                                                       | 14 |  | 14 |  | — |  |
| Allowance for equity funds used during construction and other      | (27 | ) | (48 | ) | 21 |  |
| EBITDA                                                             | $ | 1,295 |  | $ | 1,420 |  | $ | (125 | ) |
| Interest expense                                                   | (227 | ) | (222 | ) | (5 | ) |
| Maintenance capital                                                | (120 | ) | (119 | ) | (1 | ) |
| Equity earnings from investments                                   | (110 | ) | (138 | ) | 28 |  |
| Distributions received from unconsolidated affiliates              | 124 |  | 163 |  | (39 | ) |
| Other                                                              | (7 | ) | (9 | ) | 2 |  |
| Distributable cash flow                                            | $ | 955 |  | $ | 1,095 |  | $ | (140 | ) |
|                                                               |   |   |   |
| *Amounts shown are midpoints of ranges provided.                   |   |   |   |