Boardwalk Pipelines primarily transports and stores natural gas and natural gas liquids for its customers. Boardwalk owns and operates approximately 13,965 miles of natural gas and liquids pipelines. Additionally, Boardwalk owns and operates natural gas and liquids underground storage facilities.

*See the Loews Company Overview, found at www.loews.com, for additional disclosures and definitions, including a reconciliation of EBITDA to net income.