Fueling the Future: Kinder Morgan's Role in Reducing Emissions and Generating Cash Flow
Manageable Natural Gas Re-Contracting Exposure
Analysis of existing contracts that renew during next two years
KMI ADJUSTED EBITDA $ billions
■Adjusted EBITDA Natural Gas re-contracting
$8
$7
$6
$5
$4
84
$3
KINDER MORGAN
Expected annual
net re-contracting
exposure
Primarily Copano
S Texas legacy
contracts
Expiring contracts are assessed for volumetric &
rate risk based on November 2020 market
assumptions (time of budget)(a)
Excludes benefit of new cash flows from growth
projects
Excludes potential for re-purposing underutilized
assets or otherwise enhancing service offerings
Contracts on natural gas pipelines have average
remaining term of 6 years
Expect to more than offset re-contracting
headwinds with growth projects underway,
increases in usage, opportunities for currently
uncontracted capacity & improved value for
storage
$2
$1
$-
2017
2018
2019
2020
2021
Budget
2022
2023
1% of
2021B(a)
1% of
2021B
Note: See Non-GAAP Financial Measures & Reconciliations for reconciliations of Adjusted EBITDA to its closest GAAP measure for 2020 and 2021 budget. For reconciliation of Adjusted EBITDA to its closest GAAP measure for the
years 2017 through 2019, see KMI's Annual Reports on Form 10-K for the year-ended December 31, 2019 and 2018 filed with the Securities and Exchange Commission.
a) 2022 re-contracting exposure adjusted lower from previous estimate due to Ruby Pipeline risk that was brought forward to 2021
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