Kinder Morgan, Inc. · NYSE:KMI

Kinder Morgan — Kinder Morgan 2013 Analyst Conference

14 slides from Kinder Morgan's conference presentation, Jan 30, 2013

1. Slide 1: Appendix

   KINDER/MORGAN Appendix

2. Slide 2: Toll Road-like, Fee-based Business Model

   Toll Road-like, Fee-based Business Model Natural Gas Products Kinder Morgan Terminals CO2 Pipelines Pipelines Canada (KMP) (KMP) (KMP/EPB/KMI) (KMP) (KMP) – Interstate & LNG: take or pay – Take or pay, minimum – S&T: primarily minimum – Intrastate: ~75% take or pay (a) – Essentially no  Volume Secu

3. Slide 3: KMP CO2 Asset Summary

   KMP CO2 Asset Summary KMP Remaining CO2 Reserves Interest Location Deliverability Operator McElmo Dome 45% SW Colorado 20+ years KMP Doe Canyon 87% SW Colorado 20+ years KMP Bravo Dome 11% NE New Mexico 9+ years Oxy KMP Capacity Pipelines Interest Location (MMcf/d) Operator McElmo Dome to Cortez 50%

4. Slide 4: KMP Current Cost of Capital Calculation

   KMP Current Cost of Capital Calculation Annualized Current KMP 4Q 2012 Unit Price LP Distribution 1/18/2013 Equity Current KMP Yield $5.16 ÷ $88.65 5.8% GP Gross-up ÷ 54% Cost of Equity = 10.7% Equity % of Capital Structure x 50% Equity Component of Cost of Capital = 5.4% Interest % of Overall Rate

5. Slide 5: Explanation of Return Calculations

   Explanation of Return Calculations Formula Notes Segment Segment Distributable Cash Flow Return on Investment = before Certain Items (a) Average Total Investment (c) Total Segment KMP Distributable Cash Flow Return on Investment = before Certain Items (b) Average Total Investment (c) Total Distribut

6. Slide 6: Explanation of Return Calculations – Cont’d

   Explanation of Return Calculations – Cont’d Formula Notes Gross PP&E Investments (a) Calculation of Goodwill Total Investment: Gross intangibles (excluding amortization) Plus: Asset write-offs / retirements Cumulative environmental reserves Legal reserves / expenditures (b) Cumulative cash spent on

7. Slide 7: Use of Non-GAAP Financial Measures

   Use of Non-GAAP Financial Measures KMP The non-generally accepted accounting principles ("non-GAAP") financial measures of distributable cash flow before certain items (both in the aggregate and per unit), segment earnings before depreciation, depletion, amortization and amortization of excess cost

8. Slide 8: Use of Non-GAAP Financial Measures – Cont’d

   Use of Non-GAAP Financial Measures – Cont’d EPB The non-generally accepted accounting principles, or non-GAAP, financial measures of distributable cash flow before certain items, both in the aggregate and per unit, and earnings before depreciation, depletion, amortization, or DD&A, and certain items

9. Slide 9: Use of Non-GAAP Financial Measures – Cont’d

   Use of Non-GAAP Financial Measures – Cont’d KMI The non-generally accepted accounting principles, or non-GAAP, financial measure of cash available to pay dividends is included in this presentation. This non-GAAP financial measure should not be considered as an alternative to a GAAP measure such as n

10. Slide 10: KMP GAAP Reconciliation

    KMP GAAP Reconciliation 2013B 2012 2013B 2012 KMP Consolidated DCF Excluding Certain Items (a) Total Distributions Net income per GAAP income statement $ 2,671 $ 1,339 LP distributions per GAAP cash flow statement $ 1,188 Certain items (net of minority interest) 9 883 Difference due to KMR and timin

11. Slide 11: EPB GAAP Reconciliation

    EPB GAAP Reconciliation 2013B 2012 2013B 2012 EPB Consolidated DCF Excluding Certain Items (a) Debt Ratios Net income per GAAP income statement $ 622 $ 579 Long-term debt (before unamortized discounts) $ 4,254 Certain items (net of minority interest) 2 19 Notes payable & current maturities 93 Net in

12. Slide 12: KMI GAAP Reconciliation

    KMI GAAP Reconciliation 2013B 2012 2013B Cash Available to Pay Dividends EBITDA Excluding Certain Items Income from continuing operations $ 2,107 $ 1,333 KMP EBITDA excluding certain items (d) $ 4,980 Income from discontinued operations - 159 EPB EBITDA excluding certain items (d) 1,131 Income attri

13. Slide 13: Investor Relations Contacts

    Investor Relations Contacts Institutional Investors / Sell-side Analysts David Michels VP Finance & IR for KM, CFO of EPB (713) 369-9895 david_michels@kindermorgan.com Peter Staples Director Investor Relations (713) 369-9221 peter_staples@kindermorgan.com Retail Investors / Brokers Peter Staples Dir

14. Slide 14: Kinder Morgan

    KINDER/MORGAN

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