Investor Presentation

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 36

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