Natural Gas as Part of a Clean Energy Portfolio Reliable. Affordable. Clean. Community.

Geographic Footprint A National Perspective 2

Dominion energy Profile Primary Operating Segments Electric Transmission & Distribution Gas Transmission & Distribution Generation Electric Transmission 6,600 miles of transmission lines Favorable regulatory environment Electric Distribution 57,600 miles of distribution lines 2.6 million franchise retail customer accounts in VA and NC Gas Transmission Together with Gas Distribution, operates one of the largest natural gas storage system in the U.S. 15,000 miles of pipeline in eleven states Cove Point LNG import facility Well positioned in Marcellus and Utica Shale regions Gas Distribution 51,300 miles of distribution pipeline and 2.3 million natural gas customer accounts in five states Retail Utility Generation 21,500 MW of capacity Balanced, diverse fuel mix Favorable regulatory environment Merchant Generation 4,700 MW of capacity, including nuclear, gas and renewable power Active hedging program for energy revenue/margins Profile December 2016 3 3

Corporate Transition Notable Developments 2000: $9 billion merger with Consolidated Natural Gas a major natural gas transmission and distribution company 2002: $217 million acquisition of Cove Point LNG a major LNG import facility 2009: Dominion puts Cove Point Expansion Project into full commercial service 2014: Dominion begins construction for approximately $4 billion Cove Point LNG Export project 2014: Dominion and partners announce proposed Atlantic Coast Pipeline -- $5 billion to $5.5 billion, 600-mile natural gas pipeline from West Virginia, southeast through Virginia and central North Carolina. 2015: Purchase of Carolina Gas Transmission from SCANA Corporation for approximately $492.9 million. CGT owns and operates interstate natural gas pipeline in South Carolina and southeastern Georgia. 2016: Dominion Energy and Questar Corporation combine. 4

Generation Transition Notable Developments Coal Retirements Chesapeake Energy Center - coal units retired 2014 Yorktown – retired in April 2017 Converted coal-fired units to natural gas Possum Point - 2003 Bremo - 2014 Converted coal-fired units to biomass Hopewell - 2013 Altavista - 2013 Southampton - 2013 Hybrid coal and biomass, new technology Virginia City Hybrid Energy Center - 2012 New combined cycle natural gas power stations Warren County - 2014 Brunswick County - 2016 Greensville County - late 2018 projected startup 5

Electric Generation* by Fuel Type: 2007 vs. 2016 More Gas & Renewable Energy, Less Coal Coal Gas Hydro Nuclear Solar Fuel Cell Electric Generation* by Fuel Type: Pumped Storage2.4% Renewables 3.2% Oil 0.5% Coal 26.5% Gas 33.6% Nuclear 33.8% *Electric Production by Fuel proportions exclude Non-utility Generation (NUG) under contract. 6

Modern Natural Gas Generation Greensville Power Station 1,585 MW plant in Greensville County, VA 3-on-1 gas fired combined cycle Third similar project (similar to Warren and Brunswick Power Stations) Estimated Costs of $1.3 billion Expected in-service late 2018 Charlottesville Greensville Richmond The Greensville 3x1 CC is expected to be the largest and most efficient in the U.S. 7

Atlantic coast pipeline Project Overview What is the Atlantic Coast Pipeline (ACP)? A joint ownership venture with four energy companies to build an interstate natural gas transmission pipeline Will serve the growing energy needs of Virginia & North Carolina Why Build the Atlantic Coast Pipeline? Cleaner energy for our customers and our community Provides access to low-cost natural gas supply Increases reliability & security of gas supply Decreases nation’s dependence on foreign imports Who will benefit from it? Residential Customers Customers with Businesses Overall Economy in these States 8

Air Pollutant performance Dramatic Reductions Emission Rates of Sulfur Dioxide (SO2), Oxides of Nitrogen (NOx), and Mercury (Hg) have decreased even as power generation (demand) has increased since 2000. 9

CarBON PERFORMANCE Continued Success CO2 emissions intensity has decreased as generation increased (Includes divestitures) 10

A Megawatt is not a megawatt Energy Sources Compared Generation Type Capacity Factor Carbon-free? Dispatchable? Solar PV 24% YES NO Onshore Wind 39% Offshore Wind 45% Biomass 83% * Advanced Combine Cycle Natural Gas 87% NO (about 1/2 carbon of coal) Advanced Nuclear 90% *EPA has viewed biomass as carbon free but is reviewing this determination Source: U.S. Energy Information Administration, Estimated LCOE (simple average of regional values) for new generation for plants entering service in 2022, April 2017 11

ACP Benefits Reliability and diversity of supply Cleaner air Economic & Environmental Reliability and diversity of supply Cleaner air Economic development activity potential Economic activity during construction and operation Support growth of intermittent renewable power sources Employment opportunities Property tax revenues 12

Relicensing nuclear 2017 Nuclear Relicensing Cost Recovery Legislation Supports Fuel Diversity 2017 Nuclear Relicensing Cost Recovery Legislation License extension for North Anna & Surry to allow them to operate for the next 20 years -- currently scheduled to retire between 2032 and 2040. Potential loss of existing zero-emitting nuclear would significantly complicate compliance with any carbon reduction program in the post-2030 timeframe. To achieve electric output compatible with NA and Surry (3,346 MW) would require over 98,000 acres of solar panels (over 2 times the size of Richmond, VA) 13

Pumped Storage—SB 1418 2017 General Assembly Declares one or more pumped storage hydro facilities in the coalfields region to be in the public interest: Enjoys broad bipartisan support Also declares associated renewable generation in the coalfields region to be in the public interest Pumped storage is the only large-scale source of energy storage commercially available at present Major economic development potential for Southwest Virginia 14

Residential Rate Comparison, Typical Monthly Bills, 1,000 kWh Residential Rates Very Competitive Residential Rate Comparison, Typical Monthly Bills, 1,000 kWh As of May 2017, Dominion’s typical residential bill is: - 8.4% Below the VA Statewide Average - 24.2% Below the East Coast Average - 15.4% Below the National Average - 34.9% Below the RGGI States Average - 16.5% Below the D.C. Regional Average Source: Edison Electric Institute, Typical Bills and Average Rates Report: Winter 2017. Rates effective Jan.1, 2016. Annualized, monthly residential bills, 1,000 kWh usage. Latest data available. 15

Industrial Rates Extremely Competitive Industrial Rate Comparison (¢/kWh) As of May 2017, Dominion’s average industrial rate is: - 21.2% Below Southeast Peer Group Avg - 44.7% Below East Coast Average - 24.6% Below CNBC “Top States for - 52.7% Below RGGI States Average Business” 2016 Average - 35.8% Below National Average Source: Edison Electric Institute, Typical Bills and Average Rates Report : Winter 2017. Rates effective Jan. 1, 2017. Annualized, monthly industrial bills, 1,000 kW demand & 650,000 kWh usage. Latest data available. Nebraska industrial rates from U.S. Energy Information Administration, Electric Power Monthly, April 2017, for rates effective February 2017. 16

Project resistance A Vocal Minority 17 17

aCP environmental & Safety best practices Extensive Planning & Precautions Industry-leading, best-in-class program for construction, emission controls, methane reduction measures Program to avoid landslides on steep slopes 100% X-ray inspected pipeline welds Hydrostatic pressure tests prior to operation 24-7/365 monitoring from Dominion’s gas control center Remote-controlled shut-off valves State-of-art inspection program 18

Renewable energy 2000 Dominion Energy’s Renewable Portfolio 19 Hydroelectric in operation: 318 MW 19

Renewable energy today Dominion Energy’s Renewable Portfolio 20

Questions? 21