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`Report of Independent Auditors
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`To the Management Committee and Management of NEXUS Gas Transmission, LLC:
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`We have audited the accompanying financial statements of NEXUS Gas Transmission, LLC (the
`“Company”), which comprise the balance sheets as of December 31, 2019 and 2018, and the related
`statements of income, of retained earnings, and of cash flows for the years then ended, included on pages
`110 through 122.13 of the accompanying Federal Energy Regulatory Commission Form No. 2.
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`Management’s Responsibility for the Financial Statements
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`Management is responsible for the preparation and fair presentation of the financial statements in
`accordance with the accounting requirements of the Federal Energy Regulatory Commission as set forth
`in its applicable Uniform System of Accounts and published accounting releases described in Note 1.
`Management is also responsible for the design, implementation, and maintenance of internal control
`relevant to the preparation and fair presentation of financial statements that are free from material
`misstatement, whether due to fraud or error.
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`Auditors’ Responsibility
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`Our responsibility is to express an opinion on the financial statements based on our audits. We conducted
`our audits in accordance with auditing standards generally accepted in the United States of America.
`Those standards require that we plan and perform the audit to obtain reasonable assurance about
`whether the financial statements are free from material misstatement.
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`An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
`the financial statements. The procedures selected depend on our judgment, including the assessment of
`the risks of material misstatement of the financial statements, whether due to fraud or error. In making
`those risk assessments, we consider internal control relevant to the Company’s preparation and fair
`presentation of the financial statements in order to design audit procedures that are appropriate in the
`circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s
`internal control. Accordingly, we express no such opinion. An audit also includes evaluating the
`appropriateness of accounting policies used and the reasonableness of significant accounting estimates
`made by management, as well as evaluating the overall presentation of the financial statements. We
`believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
`audit opinion.
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`Opinion
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`In our opinion, the financial statements referred to above present fairly, in all material respects, the
`financial position of NEXUS Gas Transmission, LLC as of December 31, 2019 and 2018, and the results of
`its operations and its cash flows for the years then ended in accordance with the accounting requirements
`of the Federal Energy Regulatory Commission as set forth in its applicable Uniform System of Accounts
`and published accounting releases described in Note 1.
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`PricewaterhouseCoopers LLP, 1000 Louisiana, Suite 5800, Houston, Texas 77002-5021
`T: (713) 356 4000, F: (713) 356 4717, www.pwc.com/us
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