Tax Withholding Related to Merger Transaction

The receipt of shares of ONEOK, Inc. (“ONEOK”) common stock and cash in exchange for Magellan Midstream Partners, L.P. (“Magellan”) units pursuant to the merger will be treated as a taxable sale of Magellan units for U.S. federal income tax purposes. For a foreign unitholder of Magellan, the broker effecting the transfer on behalf of the foreign unitholder is responsible for withholding 10% of the amount realized on the sale under Treasury Regulation Section 1.1446-4(f). The amount realized on the sale includes the shares of ONEOK common stock (valued at the closing price of ONEOK on the closing date of the transaction, which was $66.54) and aggregate cash consideration received in the merger.

— Click on the appropriate year to expand for more details on Magellan's cash distribution and qualified notice history.

Distributions declared associated with each respective quarter. Distributions declared and paid within 45 days following end of quarter.
*Partial payment due to IPO.
All distributions have been adjusted to account for the 2-for-1 unit split on October 12, 2012 and the 2-for-1 unit split on April 12, 2005, as applicable.