Benjamin D. Lamb - 31 Jan 2025 Form 4 Insider Report for EnLink Midstream, LLC

Footnote F1

Pursuant to the Agreement and Plan of Merger, dated as of November 24, 2024 (the "Merger Agreement"), by and among EnLink Midstream, LLC ("EnLink"), ONEOK, Inc. ("ONEOK"), Elk Merger Sub I, L.L.C. ("Merger Sub I"), a direct, wholly-owned subsidiary of ONEOK, Elk Merger Sub II, L.L.C., a direct, wholly-owned subsidiary of ONEOK, and EnLink Midstream Manager, LLC, the managing member of EnLink, each common unit representing limited liability company interests in EnLink ("EnLink Unit") issued and outstanding immediately prior to the effective time of the merger between EnLink and Merger Sub I (the "First Merger Effective Time"), was converted into the right to receive 0.1412 shares of ONEOK common stock ("ONEOK Common Stock" and such ratio, the "Exchange Ratio"). On January 31, 2025, the closing price of one share of ONEOK Common Stock was $97.17.

Footnote F2

Additionally, pursuant to the Merger Agreement, each restricted incentive unit of EnLink ("EnLink RIU Award") that was outstanding immediately prior to the First Merger Effective Time was assumed by ONEOK and converted into a time-based restricted stock unit award of ONEOK equal to the product obtained by multiplying (x) the number of EnLink Units subject to such EnLink RIU Award immediately prior to the First Merger Effective Time multiplied by (y) the Exchange Ratio, rounded up or down to the nearest whole share of ONEOK Common Stock and otherwise subject to the same terms and conditions (including as to vesting and forfeiture) as were applicable to such EnLink RIU Award immediately prior to the First Merger Effective Time.