Energy Infrastructure & Transition Overview

Self-Funding Capex & Dividends Since 2016 Opportunistic asset monetization enabled meaningful debt reduction Generated $1.9 billion of free cash flow after dividends over last 5 years Asset sales, net CFFO Borrowing, net Cash from BS Buybacks Other(a) Asset sales, Cash to BS net Cash to BS Other(a) Asset sales, net Debt repayment Debt repayment Dividends Dividends CFFO CapEx CapEx Sources Uses 2016 Sources Uses 2017 CFFO Other(a) Buybacks Dividends CapEx Sources Uses 2018 Cash from BS Debt repayment Other(a) Asset sales, net Dist. of KML proceeds Contrib. to JVs, net CFFO Dividends CapEx Sources Uses 2019 KINDER MORGAN Asset sales, net Cash to BS Other(a) Dividends CFFO CapEx Sources Uses 2020 Source: KMI GAAP Statement of Cash Flows. 2020 results are preliminary. Note: Free cash flow = CFFO less capital expenditures. See non-GAAP Financial Measures & Reconciliations. "Asset sales, net" include the monetization of a 50% interest in Southern Natural Gas, Kinder Morgan Canada Limited (KML IPO & sale), Trans Mountain pipeline & U.S. Cochin pipeline. (a) Unless called out separately, "Other" includes (i) contributions to JVs, (ii) distributions from JVs included in cash flow from investing, (iii) net distributions to NCI, (iv) debt repayment, net of issuances, (v) share buybacks, (vi) the effect of FX on cash & (vii) other, net. 9

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