Investor Presentation

Highly-Contracted Cash Flows Stable cash flows with ~72% take-or-pay or hedged earnings CONTRACT MIX OF 2021B ADJUSTED SEGMENT EBDA Take-or-pay 68% Entitled to payment regardless of throughput Reservation fee for capacity Nat gas interstates / LNG 43% Note: See Non-GAAP Financial Measures & Reconciliations. Intrastates includes term sale portfolio. Nat gas intrastates 8% Terminals 8% KINDER MORGAN Fee-based 25% Fixed fee collected regardless of commodity price Volumetric-based revenues G&P 5% Terminals 4% Nat gas intrastates 1% Refined products pipes 10% Nat gas interstates / LNG 3% Crude pipes 1% Hedged 4% Other 3% CO2 & transport 2% G&P 1% Crude pipes 3% Jones Act 3% Ref. prod. pipes, 1% EOR oil & gas 4% Disciplined approach to managing price volatility Substantially hedged near-term price exposure Commodity-price based EOR, G&P, intrastates 3% 7

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