Barclays Investment Banking Pitch Book

KMI Equity Research Analyst Estimates Equity Research Analyst Price Targets and Recommendations Equity Research (¹) ($ in millions, except share price) Firm Jefferies US Capital Advisors RBC Capital Markets Deutsche Bank Research Credit Suisse Barclays Raymond James Morgan Stanley Goldman Sachs Simmons & Company International Tudor Pickering Holt & Co. UBS JPMorgan Mean Estimates Median Estimates High Low BARCLAYS Analyst Christopher Sighinolfi Rebecca G Followill Elvira Scotto Richard Cheng Estimates per Bloomberg and FactSet. May not match IBES consensus. J. Edwards Richard Gross Darren Horowitz Brian Lasky Theodore Durbin Mark L Reichman Bradley Olsen Shneur Z Gershuni Jeremy Tonet 21 Recommendation Hold Hold Buy Buy Outperform Buy Overweight Equal Buy Overweight Hold Buy Overweight KMI Reference Valuation Analysis Date of Estimates 8/5/2014 07/29/14 7/21/2014 7/17/2014 7/17/2014 7/17/2014 7/17/2014 7/17/2014 07/17/14 07/17/14 7/1/2014 06/20/14 05/19/14 Target Price $36.00 $31.00 $40.00 $42.00 $41.00 $39.00 $38.00 $37.00 $45.00 $41.00 $37.00 $38.00 $36.00 $38.54 $38.00 $45.00 $31.00

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