A Compelling Investment Opportunity

KINDER MORGAN Compelling Investment Opportunity Returning value to shareholders via significant dividend growth | Attractive valuation DRILL-DOWN OF S&P 500 COMPANIES ENTERPRISE VALUE / 2020E EBITDA Attractive valuation provides upside potential 399 2020E Net Debt / 2020E EBITDA <5.0x 289 Investment grade 126 Market cap >$35bn 59 2 10.4x KMI 18E-20E EPS CAGR >10% 2019E DIVIDEND YIELD (a) 2019E dividend yield >4% More than double S&P 500 & more coming 5% KINDER MORGAN INC 19E-20E dividend growth >20% KMI 11.1x S&P 500 Median 2% S&P 500 Median Source: Bloomberg. Share price, market capitalization, enterprise value, ratings, and consensus estimates of KMI and of S&P 500 index (SPX) as of 8/26/2019. Consensus calculations of non-GAAP financial measures may differ from such measures as defined and calculated by KMI. See Non-GAAP Financial Measures and Reconciliations. a) 2019E dividend per share divided by share price as of 8/26/2019. 22 27

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