Kinder Morgan Financial Measures and CO2 Segment Analysis
Strategy
Maximize the value of our assets on behalf of shareholders
KINDER MORGAN
Stable, fee-
based assets
Invest in a low
carbon future
Financial
flexibility
Core energy
infrastructure
Safe & efficient
operator
Multi-year contracts
>90% take-or-pay &
fee-based cash
flows
Newly formed
Energy Transition
Ventures Group
$1.3 billion backlog
with ~64% allocated
to natural gas
projects
Allocated ~70% of
2020 expansion
capex to natural gas
& LNG projects
Invested in
biodiesel, ethanol &
renewable diesel
projects
4.0x 2021 expected
Net Debt/Adjusted
EBITDA(a)
Long-term target
remains around
4.5x
Low cost of capital
Mid-BBB credit
ratings
Ample liquidity
Reduced net debt
by >$12 billion since
3Q 2015
Disciplined
capital
allocation
Conservative
assumptions
High return
thresholds
Self-funding 100%
of capex &
dividends for last
five years
Enhance
shareholder
value
Maintain strong
balance sheet
Attractive projects
Dividend growth
Share repurchases
a) See Non-GAAP Financial Measures & Reconciliations.
K
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