EnLink Midstream (ENLC) Announces Board Changes

EnLink Midstream, LLC (NYSE: ENLC) (EnLink) today announced changes to the Board of Directors (Board) of EnLink Midstream Manager, LLC, the managing member of ENLC (EnLink Manager), following the October 15, 2024, closing of the transaction in which ONEOK, Inc. (NYSE: OKE) (ONEOK) acquired Global Infrastructure Partner's (GIP) entire 43% equity interest in ENLC and all of GIP's interest in EnLink Manager.

As a result of acquiring EnLink Manager, ONEOK appointed three directors to the Board who collectively have the majority voting power. Joining the Board are Pierce H. Norton II, who will serve as the Board's Chairman and will become the Chairman of the Governance and Compensation Committee, Walter S. Hulse III, who will join the Board's Sustainability Committee, and Lyndon C. Taylor, who will join the Board's Governance and Compensation Committee.

Leldon E. Echols remains the Lead Independent Director of the Board. The departing directors are Matthew C. Harris, Benjamin M. Daniel, and Scott E. Telesz, each of GIP.

"I am thankful for GIP's contribution to our company and leadership on EnLink's Board," EnLink President and Chief Executive Officer Jesse Arenivas said. "Additionally, I am pleased to welcome the ONEOK directors to our Board, each of whom brings extensive midstream and energy experience."

New Director Biographies
Pierce H. Norton II is president and chief executive officer of ONEOK and is a member of the ONEOK Board of Directors. Previously, Norton was president and chief executive officer of ONE Gas, Inc. for more than seven years and served as a member of the ONE Gas board. Norton worked for ONEOK for almost 10 years, having joined the company in 2004. Prior to the separation of ONE Gas in January 2014, Norton served as executive vice president, commercial, of ONEOK and ONEOK Partners.

His other roles at ONEOK included executive vice president and chief operating officer of ONEOK and ONEOK Partners, responsible for the company's natural gas gathering and processing, natural gas pipelines, natural gas liquids, natural gas distribution and energy services business segments. Norton also held the position as president of ONEOK Distribution Companies – Oklahoma Natural Gas, Kansas Gas Service and Texas Gas Service.

An Alabama native, Norton earned a Bachelor of Science degree in mechanical engineering in 1982 from the University of Alabama in Tuscaloosa and was a University of Alabama College of Engineering Distinguished Fellow. He also is a graduate of Harvard Business School's Advanced Management Program.

Walter S. Hulse III is executive vice president, chief financial officer, treasurer, investor relations and corporate development, of ONEOK.

Hulse joined ONEOK in 2015 from Spinnaker Strategic Advisory Services, LLC, which provided consulting services to mid-cap and large-cap publicly traded companies, including the review of merger and/or acquisition opportunities, debt and equity markets, corporate restructuring and potential divestitures. Hulse served as a consultant to ONEOK for many years, including during the separation of the company's natural gas distribution business into the stand-alone publicly traded company, ONE Gas.

Previously, Hulse was vice chairman of the Investment Banking Department, managing director and head of the business development group at UBS Investment Bank. Prior to that, he was head of the Global Utility Group at UBS Investment Bank. Before joining UBS through its merger with PaineWebber Incorporated, Hulse held various roles at Paine Webber and J.P. Morgan.

Hulse graduated from the Wharton School at the University of Pennsylvania with a Bachelor of Science in economics.

Lyndon C. Taylor is executive vice president, chief legal officer and assistant secretary of ONEOK.

Taylor joined ONEOK in 2023. Before joining ONEOK, he was executive vice president, chief legal and administrative officer of Devon Energy Corporation, responsible for overseeing the legal, corporate governance, compliance and government relations functions. Prior to Devon, Taylor founded and led the Houston office of Skadden Arps, serving the legal needs of numerous energy clients for 12 years. He has in-depth experience in many aspects of the energy business, including capital markets and Securities and Exchange Commission (SEC) activities, merger and acquisition (M&A) deals, commercial transactions, regulatory compliance, labor and employment matters, intellectual property and litigation.

With nearly 40 years of legal expertise, primarily in the energy space, Taylor has extensive experience guiding organizations on legal and business strategies that balance risk and company objectives, helping them to be successful in a changing market.

Taylor earned a Juris Doctor with honors from the University of Oklahoma College of Law and a Bachelor of Science in industrial engineering and management from Oklahoma State University.

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