ONE Gas Spin-Off


On January 31, 2014, ONEOK, Inc. ("ONEOK") distributed all of the shares of common stock of ONE Gas, Inc. ("ONE Gas"), a wholly owned subsidiary of ONEOK, to ONEOK shareholders (the "Distribution"). Prior to the Distribution, ONEOK transferred its natural gas distribution business to ONE Gas. The distribution occurred by way of a pro rata dividend to ONEOK shareholders of record as of January 21, 2014, the record date of the Distribution (the "Record Date"). Each ONEOK shareholder was entitled to receive one share of ONE Gas common stock for every four shares of ONEOK common stock held by such shareholder at the close of business on the Record Date. ONEOK did not distribute any fractional shares to shareholders. Instead, fractional shares were aggregated and sold in the open market at prevailing market prices by Wells Fargo Bank, N.A., acting as distribution agent. Checks representing the pro rata share of the $34.31 per share net proceeds of the sale of the aggregated fractional shares have been or will be sent to stockholders of record entitled to these proceeds.

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