A Compelling Investment Opportunity

Cash Flow Generation Machine KINDER MORGAN ~$5 billion of 2019B distributable cash flow (DCF) = ~$2 billion for dividends + ~$3 billion to enhance shareholder value $ billions ■Common dividends declared ■DCF after dividends $3.4 $3.4 $1.1 2016 $2.9 2019B dividend coverage of 2.2x(a) $2.7 $2.3 $1.8 $1.1 2017 2018 2019 Budget Generated $10 billion of DCF after dividends & >$10 billion of CFFO after dividends in last 3 years Note: See Non-GAAP Financial Measures and Reconciliations. CFFO defined as Net Cash Provided by Operating Activities. Amounts reflect DCF after declared common dividends and CFFO after cash common dividends paid. a) 2019 budgeted (2019B) DCF divided by 2019B common dividends declared. 6

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