Welcome 2015 Natural Gas Pipeline Company of America LLC Customer - PowerPoint PPT Presentation

Welcome

2015 Natural Gas Pipeline Company of America LLC Customer Meeting Park Hyatt Hotel Chicago, IL August 19, 2015

Corporate Overview and Gas Pipeline Group Growth Projects and Opportunities Tom Martin President, Natural Gas Pipeline Group August 19, 2015

Unparalleled Asset Footprint Largest Energy Infrastructure Company in North America  3rd largest energy company in N. America with an enterprise value of ~$120 billion  $22 billion of currently identified organic growth projects  Largest natural gas network in N. America — Own an interest in/ operate ~69,000 miles of natural gas pipeline — Connected to every important U.S. natural gas resource play, including: Eagle Ford, Marcellus, Utica, Bakken, Uinta, Haynesville, Fayetteville and Barnett  Largest independent transporter of petroleum products in N. America — Transport ~2.4 MMBbl/d (a)  Largest transporter of CO 2 in N. America — Transport ~1.4 Bcf/d of CO 2 (a)  Largest independent terminal operator in N. America (b) — Own an interest in or operate ~165 liquids/ dry bulk terminals — ~142 MMBbls domestic liquids capacity — Handle ~83 MMtons of dry bulk products (a) — Strong Jones Act shipping position  Only Oilsands pipe serving West Coast — Transports ~300 MBbl/d to Vancouver/ Washington State; proposed expansion takes capacity to 890 MBbl/d __________________________ (a) 2015 budgeted volumes. 4 (b) Excludes terminals contributed to Watco.

Weathering the Storm Well-positioned Assets, Stable Cash Flow Weathering the High Seas (a)  Oil last closed above $90/Bbl on 10/6/2014  Low commodity price sensitivity Oil significantly lower today, down over 50% —  2015 budgeted EBDA is ~87% fee-based, ~96% fee-based or hedged  Safe harbor: KMI has demonstrated strong relative stock performance since 10/6/2014 — $1/Bbl change in oil price = $10 million  KMI is one of only nine companies in the DCF impact; 10¢/MMBtu change in natural S&P 500 with the following investment gas price = $3 million DCF impact traits (b) :  Existing backlog largely insulated from oil — >$70 billion market cap price fluctuation due to long-term customer — >3% current dividend yield contracts and association with high-demand, — >5% projected annual dividend growth multi-year projects — In sustained low price environment, the KMI Stock Perf. Since Oil was Last $90 (a) rate at which we add to our backlog may 10% slow 6% 0% — Capital cost savings are possible -12% -10% -22%  Significant demand creation expected with -20% -31% -30% lower-priced petroleum feedstocks -39% -40%  Acquisition opportunities -53% -50% -60% S&P 500 S&P 500 Alerian EPX E&P WTI Oil KMI __________________________ Index Energy Index Index Spot Px. (a) Source: Bloomberg. Price performance from 10/6/2014 to 8/14/2015. (b) Sources: Bloomberg, FactSet and Wall Street research. As of 8/14/2015. 5 Includes companies which meet the following criteria: in S&P 500, market cap >$70 billion, LQA dividend yield >~3%, 2015-2017 projected annual dividend growth >~5%.

5-year Project Backlog (a) $22 Billion of Currently Identified Organic Growth Projects Tremendous footprint provides $22B of currently identified growth projects over next 5 years 5-year Growth Capex Backlog ($B) 2H 2015 2016 2017 2018+ Total Natural Gas Pipelines $0.7 $0.7 $2.7 $5.3 $9.4 Products Pipelines 0.2 0.1 0.8 0.5 1.6 ~90% of backlog is for Terminals 0.4 0.6 1.3 0.2 2.5 fee-based pipelines, CO 2 – S&T (b) terminals and 0.3 0.1 0.1 0.3 0.8 associated facilities CO 2 – EOR (b) Oil Production 0.3 0.5 0.4 1.1 2.3 Kinder Morgan Canada 5.4 5.4 Total $1.9 $2.0 $5.3 $12.8 $22.0 Not included in backlog: – TGP Northeast “supply path” – Marcellus/ Utica liquids pipeline solution (UMTP) – Further LNG export opportunities – Potential acquisitions __________________________ (a) Highly-visible backlog consists of current projects for which commercial contracts have been either secured, or are at an advanced stage of negotiation. Total capital expenditures for each project, shown in year of expected in-service; projects in-service prior to 6/30/2015 excluded. Includes KM's proportionate share of non-wholly owned projects. Includes estimated capitalized corporate overhead of $1,086 million. 6 (b) S&T = CO 2 Sales & Transportation. EOR = Enhanced Oil Recovery.

Hiland Acquisition: Strategic Acquisition of Premier Midstream Position in the Bakken Hiland Asset Overview: 86% (a) fee-based, crude oil gathering and transportation, and Williston, ND Tioga, ND gas gathering and processing Crude oil gathering ~59% (a)  Watford City, ND — 1,225 miles of pipelines in North Dakota and Montana — Deliver to the basin’s major takeaway pipelines and to rail Double H Pipeline crude oil transportation ~27% (a)  — 485-mile pipeline from ND to Guernsey, WY — Interconnects with Pony Express for delivery to Cushing, Oklahoma Baker, MT Gas gathering and processing ~14% (a)  — 1,800 miles of gathering pipelines in North Dakota and Montana — 240 MMcf/d of processing capacity and 30 MBbl/d of fractionation capacity, upon Double H completion of 2015 expansion Pipeline Strategic Acquisition: Establishes premier midstream platform in the core of the Bakken, one of the most prolific oil producing basins in North America Systems overlay some of the most attractive and economically viable “tier - one” areas of  the Bakken, including McKenzie, Williams and Mountrail counties  Double H crude oil pipeline provides key takeaway capacity with take-or-pay contracts Douglas, WY Legend (b) : Long- term acreage dedications with some of the Bakken’s largest, most successful  Hiland dedication area Guernsey, WY producers Gas pipeline Crude pipeline Scale and footprint well-positioned to support additional infrastructure opportunities in  and around the Bakken __________________________ (a) Percentage of estimated 2015 EBITDA. 7 (b) Many gas and crude pipes overlap as they share right of way. Map excludes smaller Mid-con gas gathering assets.

Natural Gas Megatrend Strong Natural Gas Footprint & Market Opportunity Set U.S. Natural Gas Projected Real- time, Long-term Supply & Demand (a) Benefits of Footprint (Bcf/d) Demand 2015 2020 2025 Natural Gas Segment Asset Footprint  KMI owns/ operates ~69,000 LNG net exports -0.2 7.6 10.8 miles of natural gas pipeline (d) Mexican net exports 2.6 4.3 5.5 - Move ~33% of total U.S natural Power 24.4 30.1 33.0 gas demand Industrial 21.3 24.8 26.0 Other 28.5 31.8 34.5  $9.4 billion natural gas project Total U.S. demand 76.6 98.6 109.8 backlog Supply  Significant recent demand for Marcellus/ Utica 18.7 35.8 42.3 long-term natural gas capacity All other 57.9 62.8 67.5 - 8.7 Bcf/d of new/ pending Total U.S. supply 76.6 98.6 109.8 Power contracts secured over past 1.5 Monthly Share of U.S. Power years (~10% of estimated 2015 Generation (c) Generation by Fuel, 2001-15 total U.S. demand) +5.7/ 8.6 Bcf/d (b) % of Total - 17-year average contract term Generation Coal Natural Gas 55% 50% 45% 40% 35% 30% 25% Industrial 20% (petchem) 15% +3.5/ 4.7 Bcf/d (b) 10% Exports to Jan'01 Jan'03 Jan'05 Jan'07 Jan'09 Jan'11 Jan'13 Jan'15 Mexico +1.7/ 2.9 Bcf/d (b) LNG Export __________________________ +7.9/ 11.0 Bcf/d (b) (a) Source: Wood Mackenzie Spring 2015 Long-Term View. (b) Projected 5-year/ 10-year increase. (c) Source: U.S. Energy Information Administration, July 2015 Monthly Energy Review, Table 7.2a Electricity Net Generation: Total (All Sectors) 8 (d) Includes KM operated and non-operated JV pipelines.

Supply Push TGP - Broad Run Flexibility and Expansion  Capacity: 790 MDth/d  Capital: $818 MM  Estimated In-service: — 11/2015 - Flexibility (590 MDth/d) — 11/2017 - Expansion (200 MDth/d)  Project Scope: — Piping/compression modifications to 7 existing stations to accommodate bi-directional flow — Horsepower at 3 greenfield stations  Commercial Benefit: — Moves gas north-to-south from a receipt point in West Virginia to delivery points in Mississippi and Louisiana  Avg. Contract Term: 15 years  Current Status: — Pipeline and compression modifications are underway — FERC application for Expansion filed January 2015  Major Milestones: — FERC certificate for Expansion expected 1Q2016 — Begin construction March 2016 9

Market Growth TGP Northeast Energy Direct (NED) Project - Market Path  Capacity: 600 - 1,300 MDth/d  Capital: $3.3 - 3.8 Billion  Estimated In-service: 11/2018  Project Scope: — 188 miles of 30” mainline — Laterals to serve specific LDCs — Up to 300,600 HP based on final scope  Commercial Benefit: — Supply growing New England LDC market — Provide reliable firm supply for gas-fired power generation market  Avg. Contract Term: 19.8 years  Current Status: — Executed PA’s with New England LDCs – over 560 MDth/d — Pursuing additional markets: State of Maine, LDCs, electric power — Actively participating in state legislative and regulatory activities Existing TGP Flow  Major Milestone: — FERC certificate application filing 4Q 2015 NED Additional Flow 10