The stock is listed on the NYSE

Davis Polk advised the forward purchaser and the forward seller, in connection with the execution of forward sale agreements relating to 1,380,000 shares of ONE Gas, Inc.’s common stock (NYSE: OGS) (including the exercise in full by the underwriter of its option to purchase up to 180,000 additional shares) in connection with an SEC-registered offering of 1,380,000 shares of such common stock. In connection with the forward sale agreements, the forward seller borrowed 1,380,000 shares of ONE Gas, Inc.’s common stock from third parties and sold these shares to the sole underwriter.

ONE Gas, Inc. provides natural gas distribution services to approximately 2.3 million customers and is the largest natural gas distributor in Oklahoma and Kansas and the third largest in Texas, in terms of customers. ONE Gas, Inc. primarily serves residential, commercial and transportation customers in all three states. Its three divisions, Oklahoma Natural Gas, Kansas Gas Service and Texas Gas Service, distribute natural gas to approximately 88%, 71% and 13% of the natural gas distribution customers in Oklahoma, Kansas and Texas, respectively.

The Davis Polk equity derivatives team included partner Mark J. DiFiore and associate Stockton Bullitt. All members of the Davis Polk team are based in the New York office.

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