Kinder Morgan, Inc. · NYSE:KMI
Kinder Morgan — Investor Presentation (December 2025)
24 slides from Kinder Morgan's investor presentation, Dec 3, 2025
Slide 1: Colorado Interstate Gas 2025 Winter Preparation
Colorado Interstate Gas 2025 Winter Preparation December 3, 2025
Slide 2: Agenda
Agenda • Introductions • CIG Overview • Winter Preparedness • Winter Weather Postings • CIG Southern Front Range changes • Open Customer Q&A • Wrap-up 2
Slide 3: Introductions
KINDERMORGAN Introductions
Slide 4: Transportation and Storage Services contacts
Compan c. Patty Beavers hheduler Lead Nathan Sheffer i ICE: nshetter Nathan Sheffer @kindermorgan.com ler Senior! (79) 520-7513, ICE: french Jeremy. French @kindermorgan.com Janie Morin eae el Caleb Newberry Scheduler! Caleb Newberry@kindermorgan.com Katelynn Behan (71s) 520-4887 {Ce Poshan Katelynn
Slide 5: CIG Overview
CIG Overview • Originally designed to bring gas from far reaching production basins to the Front Range • Today 90% of supply is from the DJ • Low pressure system No-Notice Transportation (NNT) relies on system line pack and four storage fields • Fort Morgan • Latigo • Boehm • Flank • High Plains sys
Slide 6: Winter Preparation
KINDERMORGAN Winter Preparation
Slide 7: Autumn Facilities Preparation: Air Blending Facilities
Autumn Facilities Preparation Air Blending Facilities • Ready for winter service no later than October 31 • Critical valves inspected and serviced • Btu measurement tested for proper operation (including spares) • Dehydration • Dry filter replacement • Heater operation verification and switch to sta
Slide 8: Autumn Facilities Preparation: Compressor Stations
Autumn Facilities Preparation Compressor Stations • Heaters inspected and activated • Boiler systems inspected for leaks and proper circulation • Piping/equipment heat trace tested, and insulation inspected • Engine/compressor Hot Start equipment on and working • Critical spare parts inventory or av
Slide 9: Autumn Facilities Preparation: Metering and Pipeline Facilities
Autumn Facilities Preparation Metering and Pipeline Facilities • Regulator/relief inspection • Critical valves inspected and serviced • Inspect and test batteries, UPS systems (AC and DC) • Solar Panels and gas flow computers (GFC) at main line block valves inspected • Gas analyzer supplies checked/
Slide 10: Autumn Facilities Preparation: Communication Systems
Autumn Facilities Preparation Communication Systems • Two-way radios tested • Cell phone batteries and chargers operating properly Telecom Microwave Sites • Chargers, batteries, building HVAC equipment inspected • Backup generators tested and fluid levels inspected • Anti-freeze effective to -30 Fa
Slide 11: Winter Storm Preparation
Winter Storm Preparation • Pre-storm coordination conference calls between Field Operations and Gas Control • Discuss areas of focus • Establish communication avenues for employees to convey intentions before, during, and after storms • Establish manning of key facilities including those that may no
Slide 12: Winter Weather Postings
KINDERMORGAN Winter Weather Postings
Slide 13: CIG Cold Weather Posting Process
CIG Cold Weather Posting Process CIG Cold Weather Posting Process and Response to DJ Supply Failures • Weather Forecast Triggers • single day with highs in the teens, lows single digit to sub-zero • sustained multi-day winter weather conditions • interconnecting pipeline cold weather postings • By 5
Slide 14: CIG Cold Weather Posting Process
CIG Cold Weather Posting Process 1. Cold Weather Notice posted 3-5 days in advance of cold weather • States CIG will cap underperforming receipts at the next available cycle during the cold weather period • NEW – CIG and Young will suspend authorized overrun withdrawals and interruptible storage wit
Slide 15: CIG Southern Front Range
KINDERJMORGAN Delivering Energy to Improve Lives CIG Southern Front Range
Slide 16: Objectives
Objectives • Southern System Orientation • Raton Basin decline • Southern system today • Southern system 2027 and beyond • Impact to Receipt and Delivery Location Operators 16
Slide 17: Southern System Orientation Map
Southern System Orientation Map • CIG Southern Front Range of DJ Basin Receipts Colorado system • Scheduling Segments • 208, 240, 268, 272, 274 Air Blended • DJ Basin is projected to add the volumetric equivalent of a Raton basin every year 208 DJ vs Raton Production (MMcf/d) 4,000 3,500 3,000 2,500
Slide 18: CIG Southern Front Range Scheduling Map
CIG Southern Front Range Scheduling Map 208 268 240 274 272 18
Slide 19: Raton Basin Decline
Raton Basin Decline Base Low High Production Production Production Year MMcf/d MMcf/d MMcf/d 2024 139 138 140 2025 129 125 132 2026 119 113 125 2027 111 102 120 2028 104 92 116 2029 98 83 113 2030 93 75 111 • Chart reflects wellhead supply • Today, CIG receives the average of the “Low” case for 2026
Slide 20: Today
Today DJ Receipts Btu ~ 1105 • 208 southbound largely meets Sg ~ 0.66 demand except Pueblo area Wobbe ~ 1360 power plant seasonally Air Blended schedules gas from Raton Btu ~ 1035 North and South supplies are isolated Sg ~ 0.65 northbound on 240 Wobbe ~ 1285 from each other • DJ and Raton supplies 2
Slide 21: Early-Mid 2027 and Beyond
Early-Mid 2027 and Beyond DJ Receipts Btu ~ 1105 • 208 and north demand growth Sg ~ 0.66 require supply from 268|274 Wobbe ~ 1360 • As Raton declines, 240 over Air Blended Btu ~ 1035 the years will be backfilled Sg ~ 0.65 with DJ gas following the path Wobbe ~ 1285 268|274|272 208 268 240 Raton Rece
Slide 22: Impact to Receipt and Delivery Operators
Impact to Receipt and Delivery Operators DJ Receipts Btu ~ 1105 • Raton receipt location operators Sg ~ 0.66 will see pipeline pressures up to Wobbe ~ 1360 1050 psig but in years to come Air Blended up to 1150 psig Btu ~ 1035 Sg ~ 0.65 • The “null” point or interface Wobbe ~ 1285 between DJ and Rato
Slide 23: Representative Gas Quality
Representative Gas Quality TSP TSP Name Gas Flow Start Gas Flow End 6914865 COLORADO INTERSTATE GAS CO. 10/8/2025 10/8/2025 Cricondentherm Location Location Name Gas Flow Date/Time Hydrocarbon Carbon Dioxide % Nitrogen % Heating Value Btu/cf Wobbe Index Oxygen PPM Dew Pt oF 892115 CIG/CIG WATKINS RA
Slide 24: Thank you
Thank you
Kinder Morgan — Investor Presentation (December 2025) on 6ix