Dominion Cove Point Export Project

Platts 16th Annual Liquefied Natural Gas February 9, 2017

Note to Investors

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This presentation contains certain forward-looking statements, including projected future dividend growth rates and operating

earnings growth rates which are subject to various risks and uncertainties. Factors that could cause actual results to differ

materially from management's projections, forecasts, estimates and expectations may include factors that are beyond the

company's ability to control or estimate precisely, fluctuations in energy-related commodity prices, estimates of future market

conditions, access to and costs of capital, fluctuations in the value of our pension assets and assets held in our

decommissioning trusts, the receipt of regulatory approvals for, and timing of, planned projects, acquisitions and divestitures,

and the ability to complete planned construction or expansion projects within the terms and timeframes initially anticipated.

Other factors include, but are not limited to, weather conditions, including the effects of hurricanes, earthquakes, high winds and

major storms on operations, the risks associated with the operation of nuclear facilities, unplanned outages of Dominion’s

generation facilities, state and federal legislative and regulatory developments and changes to environmental and other laws and

regulations, including those related to climate change, greenhouse gases and other emissions to which we are subject, political

and economic conditions, industrial, commercial and residential growth or decline in Dominion’s service territory, risks of

operating businesses in regulated industries that are subject to changing regulatory structures, changes to regulated gas and

electric rates collected by Dominion, changes to rating agency requirements and ratings, changing financial accounting

standards, fluctuations in interest rates, changes in federal and state tax laws, employee workforce factors, including collective

bargaining, counter-party credit and performance risk, risks related to energy trading and marketing, adverse outcomes in

litigation matters, the risk of hostile cyber intrusions and other uncertainties. Other risk factors are detailed from time to time in

Dominion’s most recent quarterly report on Form 10-Q or annual report on Form 10-K filed with the Securities and Exchange

Commission.

Projections or forecasts shown in this document are based on the assumptions listed in this document and are subject to change

at any time. Dominion undertakes no obligation to update any forward-looking information statement to reflect developments

after the statement is made. In addition, certain information presented in this document incorporates planned capital

expenditures reviewed and endorsed by Dominion’s Board of Directors in late 2011. Dominion undertakes no obligation to

update such planned expenditures to reflect plan or project-specific developments, including regulatory developments, or other

updates until the following annual update for the plans. Actual capital expenditures may be subject to regulatory and/or Board of

Directors’ approval and may vary from these estimates.

Nature Preserve on the Bay

Facility Fence Boundary

Land Owned by Dominion or Under County Control

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Cove Point LNG History

Mid-1970s Cove Point LNG designed and built

1978 Import operations commenced

1980 Import service ceased and placed in stand-by status

1994 Authorized to reactivate to provide peaking storage

2002 Dominion acquired the terminal

2003 Commercial LNG imports commenced

2004 Fifth LNG tank placed in service

2008 Facility expansion finished

2011 Pier expansion finished

2011 Export project announced

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Business Development Marketing

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• Existing import terminal

• 1.8 Bcf/d send out capacity

• 14.6 Bcf LNG storage

• Adding liquefaction equipment for 5.25 mtpa

• Providing a bidirectional LNG processing service – Dominion not buying gas or selling LNG

• Estimated project cost: $3.4 - $3.8B exclusive of financing costs

• 20-year terminal service agreements (TSA’s)

• Expected In-service date September 2017

Business Development Timeline

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• Early 2011 – began international marketing: China, Japan, Korea, Italy, Thailand, UK, India, others

• Late 2011 to mid 2012 – primary negotiations with Japanese companies.

• Mid 2012 to early 2013 – Complete negotiations

– Pacific Summit Energy (US affiliate of Sumitomo Corporation)

• Offtake Agreements with: – Tokyo Gas Co.

– Kansai Electric Power Co.

– GAIL Global (USA) LNG LLC (US affiliate of GAIL (India) Ltd.)

• Largest natural gas processing and distribution company in India

Approvals Timeline

10/2011 Filed DOE Export Application for NFTA Countries

6/2012 Submitted FERC Pre-Filing

1/2013 Completed Front-End Engineering and Design (FEED) Study

4/2013 Signed 20 year Terminal Service Agreements

Filed FERC Application

Filed Air Permit

Executed an EPC Agreement w/IHIK

Sept 2013 DOE Non-FTA Approval

5/15/2014 FERC Environmental Assessment Issued

9/29/2014 FERC Approval to Construct

10/2/2014 Construction Commences

Late 2017 Target In-Service

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Innovative Technologies

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• Parallel refrigeration compressor strings

• Highly efficient on-site power generation system

• New main cryogenic heat exchanger cool down procedure

• Recycling feed gas during start−up to minimize the potential for flaring

• Closed loop dehydration regeneration system

• Zero liquid discharge processing facilities

• Noise mitigation

Innovative Technologies

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• Parallel string arrangement (2x50%) o Single string operation (MR & PR on same shaft line)

• GE Frame 7EA driver • Three large casing compressors (3MCL1405 + MCL1405 +

2BCL806) • 20 MW helper motor

Innovative Technologies

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Front end recycling feed gas and Liquefaction Cool Down

Innovative Technologies

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High Efficiency on-site Power Generation

• Waste heat produces all the electric power necessary for the liquefaction process

• 2 Steam Turbine Generators produce up to 100 MW

• Heat Recovery Steam Generators (HRSG) on both GT exhausts produce steam for power and process use

• Startup and supplemental steam is provided by 2 auxiliary boilers

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Facility Construction – Jan 2017

November 2, 2016

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Off-Site Area A - Site Support Services

Craft Parking

Bus Loop

Offices & Training Staging & Laydown

Material Receipt

Staging & Laydown

November 2, 2016

Equipment Deliveries

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Main Cryogenic Heat Exchanger

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Construction

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Main Cryogenic Heat Exchanger - 72” Mixed Refrigerant Pipe Spool

Construction

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Main Liquefaction Rack

Construction

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Mole Sieve Dehydrators

Terminal Construction - Labor

• Construction Workforce

– On-site workforce • Staff - 671

• Direct Hire Craft – 2,205

• Sub-Contractors – 422

– Local Workforce ~ 35%

– Expect direct hire craft to peak at ~3,000

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Finished Project

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Rendering - Finished Facility December 2017