Kinder Morgan Financial Measures and CO2 Segment Analysis
$310 million Acquisition of Kinetrex Energy
Platform acquisition provides multi-year head start to participate in emerging RNG market
ASSETS & VALUATION
2 small-scale LNG facilities
1 operational landfill-RNG facility with ~0.4 bcf(a)
capacity
3 landfill-RNG facilities operational by 2022 end with
total capacity of 3.5 bcf
Offtake is commercially contracted with high quality
counterparty
Expect <6x 2023 EBITDA based on $310mm
purchase price and $135mm development capex
Conservative RINS assumptions vs current spot RINS
prices
Transaction closed Aug 20, 2021
FUTURE RNG DEVELOPMENTS
Retained Kinetrex management team to pursue new
projects and expand RNG platform
Mitigate exposure to RIN volatility through fixed price
contracts in voluntary market
KINDER MORGAN
Prairie View
Liberty
NORTH AMERICA RNG DEMAND bcfd
■Stated Policies Scenario Sustainable Development Scenario
0.3
2025
Twin Bridges
1.1
Indy HBTU
Landfill
facilities
expected to
Operational RNG Plants
0.6
2030
RNG Plants Under Construction
LNG Production & Fueling Facilities
0.8
2035
1.0
2040
drive
1.9
growth
2.7
3.5
900+ landfills across the US are candidates for RNG
<100 sites operational or in development today
Sources: North America RNG Demand per IEA "Outlook for biogas and biomethane" report (March 2020). Landfill site data per EPA Landfill Methane Outreach Program (LMOP)
a) KM share. 50% interest in Indy HBTU. 3 facilities in development are 100% owned.
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