Barclays Investment Banking Pitch Book
Preliminary Sources & Uses
(5 in millions)
Sources:
KMI Shares
New KMI Debt
Assumed KMP Debt
Total Sources:
KMP
Uses:
Purchase KMP Equity
Existing KMP Debt
Total Uses:
KMP Public Units Out. (mm units)
(Shares in millions)
Rich Kinder
Other Insiders (4)
Current KMI Public
Total"
$24,321
3,339
22,201
$49,861
$27,660
22,201
$49,861
311.2
Status Quo
Share Count
243
124
669
1,036
(S in millions)
Sources:
KMI Shares
New KMI Debt
Assumed KMR Debt
Total Sources:
KMR
Uses:
Purchase KMR Equity
Existing KMR Debt
Total Uses:
KMR Public Shares Out. (mm shares)
KMI Ownership
% Ownership
23%
12%
65%
100%
1. Assumes KMP KMR and EPB units owned by insiders will be converted into KMI shares.
2. Assumes that all EPB and KMP directors remain insiders
$10,530
$10,530
$10,530
$10,530
118.5
(Shares in millions)
Rich Kinder
Other Insiders (4)
(S in millions)
Sources:
KMI Shares
New KMI Debt
Assumed EPB Debt
Total Sources:
Uses:
Purchase EPB Equity
Existing EPB Debt
Total Uses:
EPB Public Units Out. (mm units)
KMP/KMR Owned by Insiders (¹5)
EPB Owned by Insiders (¹)(5)
Total Insider Ownership
Current KMI Public
KMP Public Unitholders
KMR Public Unitholders
EPB Public Unitholders
Total
Pro Forma
EPB
Share Count
245
124
6
0
375
669
670
291
133
2,139
Confidential
$4,811
661
4,764
$10,236
$5,472
4,764
$10,236
139.2
% Ownership
11%
6%
0%
0%
18%
31%
31%
14%
6%
100%
3 Total shares outstanding at year-end 2014. Does not include warrant dilution
4 Per KMI 2014 proxy, excludes 8.8mm shares held by entities indirectly controlled by Mr. Sarofim includes 5. 1mm restricted shares issued to management.
5. Per KMI 2014 proxy and KMP and EPB 2013 10-Ks Excludes 46mm KMP units held in entities indirectly controlled by Mr. Sarofim and/or advisory managed accounts over which Mr.
Sarofim or entities controlled by him have shared voting and/or dispositive powers.
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