KMI: 2020 Guidance - Published Budget

CO2 Free Cash Flow and Attractive Returns Long history of generating high returns and significant CO2 free cash flow with minimal acquisitions CO₂ IRR% 2000-2018 2 EOR oil production 18% SIGNIFICANT CO2 FREE CASH FLOW $ millions KINDER MORGAN $1,432 $1,458 $1,326 $1,094 $286 $1,141 Total CO2 Segment 28% $960 $919 $887 $907 $847 (incl. CO2 & transport) $796 $453 $433 $373 $342 $792 $667 $276 $397 $436 $725 $532 $449 $587 $661 $858 $479 $666 $416 $643 $451 $489 $316 2009 2013 2014 2010 2011 2012 2015 2016 2017 ■FCF Capex Acquisitions Adjusted Segment EBDA 2018 2019B ◇ Note: CO2 Internal Rate of Return (IRR) and CO2 Free Cash Flow. See Non-GAAP Financial Measures and Reconciliations. 42

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