Kinder Morgan Market Opportunity and Financial Overview

7% Commodity- price based 3% 9% 2% G&P 1% 6% 2% Contract Strategy Insulates Cash Flow Through Commodity Cycles Structure long-term contracts that minimize price & volume volatility Natural Gas 2023B Adjusted Segment EBDA: Interstate / LNG TX Intrastate 67% take- or-pay or hedged Volumes & price are contractually fixed 40% 26% fee- based Price is fixed, volumes are variable Avg. remaining contract life Additional cash flow security KINDER MORGAN Primarily acreage dedications for fee-based contracts as of 1/1/2023 6.0/17.7 years Tariffs are FERC-regulated 6.2 years 4.1 years Refined products 1% 9% 1% generally not applicable Products Crude transport 2% 1% 2.3 years Pipeline tariffs are FERC-regulated ~2/3 of 2023B Products Segment Adj. Segment EBDA has an annual inflation-linked tariff escalator Crude G&P 1% Liquids terminals 5% 2% 2.7 years Terminals Jones Act tankers 2% 3.3 years ~3/4 of 2023B Terminals Segment Adj. Segment EBDA has annual price escalators (inflation linked or fixed price escalators) Bulk terminals: primarily minimum volume guarantee or requirements Bulk terminals 1% 2% 4.3 years EOR Oil & Gas 5% 2% CO2 CO2 & Transport 1% ETV 1% 6.2 years Commodity-price based contracts are mostly minimum volume committed 1% Note: Adjusted Segment EBDA is a non-GAAP measure. See Non-GAAP Financial Measures & Reconciliations. Numbers may not sum due to rounding. TX Intrastate average remaining contract life includes term sale portfolio. 43

View entire presentation