A Compelling Investment Opportunity

Reconciliation of CO 2 Free Cash Flow $ in millions KINDER MORGAN Reconciliation of CO2 Free Cash Flow 2009 2010 Segment EBDA $ 783 $ 2011 965 $ 1,099 2012 2013 Year Ended December 31, 2014 2015 2016 $ 1,322 $ 1,435 $ 1,240 $ 657 $ 2017 827 $ 847 $ 759 2018 Certain items: Non-cash impairments and project write-offs 243 622 29 79 Derivatives and other 13 (5) Segment EBDA before Certain Items 796 960 (5) 1,094 4 (3) (25) (138) 63 40 69 1,326 1,432 1,458 1,141 919 887 907 Capital expenditures (a) 342 373 433 453 667 792 725 276 436 397 Acquisitions CO2 Free Cash Flow 5 14 286 21 $ 449 $ 587 $ 661 $ 858 $ 479 $ 666 $ 416 $ 643 $ 451 $ 489 a) Includes both sustaining and growth capital expenditures. 47

View entire presentation