A Compelling Investment Opportunity

Competitively Priced U.S. Natural Gas Drives LNG Opportunity U.S. LNG exports expected to more than quadruple by 2025 KINDER MORGAN NATURAL GAS PRICES (a) 18 15 12 CO $ / mmbtu A 3 2000 2010 2020 2030 Japan European Union PROJECTED U.S. LNG EXPORTS (b) Bcfd United States 3.0 2040 2018 Recent wave of offtake agreements and participation of large LNG portfolio players underscore the attractiveness of the U.S. market a) International Energy Agency World Energy Outlook 2018, New Policies Scenario. b) WoodMackenzie, North America Gas Markets Long-Term Outlook, Summer 2019. 18.8 16.3 2025 2030 15

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