Letter to Our Stakeholders

To Our Stakeholders,

As we reflect on another year of significant growth and transformation, we remain grounded in our core values and motivated by the importance of our mission and the opportunities ahead. In 2024 and early 2025, we expanded our operational scale and capabilities through the acquisitions of Medallion Midstream and EnLink Midstream. These key transactions position ONEOK to lead with greater connectivity and scale across the midstream energy value chain.

These integrations provide not only new assets and employees, but also new perspectives, experiences and ideas. Together, we are building an innovative organization focused on our shared purpose: delivering the energy that makes a difference in how we move, live, communicate and learn across the U.S. and around the world.

This report reflects the measurable progress we've made in our sustainability efforts — progress that continues to be at the forefront of all we do. While our workforce and operations have grown, our commitment to our core values remains unchanged. Our focus on safety and environmental, ethics, inclusion and diversity, excellence, service and innovation continue to shape our behaviors that define our culture and guide our decisions.

Safety, in particular, remains central to our identity. In 2024, our company performance on one of our key safety metrics — Total Recordable Incident Rate (TRIR) — was nearly 23% better than our targeted performance for the year. While this is an encouraging result, continuous improvement in this area is key to creating processes aimed at achieving a zero-incident workplace.

We continue to invest in technology, talent and innovation to drive progress toward our emissions goals. As of year-end 2024, we achieved reductions equivalent to approximately 77% of our 2030 Scope 1 and Scope 2 GHG emissions reduction target when comparing those assets operating in 2019 through today. Since 2019, we’ve also reduced absolute methane emissions from Scope 1 operations by 57%, through our expanded use of methane detection technologies, best management practices and targeted emissions elimination.

Our commitment to long-term success extends beyond the business itself; it includes investing in the economic health and resilience of the communities where we live and work. In 2024, we furthered our commitment, contributing nearly $9 million and approximately 20,000 volunteer hours across approximately 350 communities. We believe that strong operations and strong communities go hand in hand, and our investments reflect that belief.

As we look ahead, we do so with confidence and excitement — rooted in the strength of our people, the resilience of our business and the innovation that drives our progress. We are proud of the transformation our company has been through, and we remain focused on operating responsibly, delivering long-term stakeholder value and helping to shape the future of energy.

Thank you for your continued interest and support.

Sincerely,

Pierce H. Norton II
President and Chief Executive Officer