A Compelling Investment Opportunity

Averaged $2.5 Billion of Discretionary Capital per Year Since 2008 ANNUAL GROWTH CAPITAL & CONTRIBUTIONS TO JVs (a,b) $ billions KINDER MORGAN Expansion -Average $3.0 $2.5 $2.7 $1.1 $1.4 $1.7 $3.4 $3.3 $3.2 $2.3 $3.2 $2.3 $3.1 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019B (c) Established track record of investing $2 to $3 billion per year in growth projects Note: Discretionary capital includes equity contributions to joint ventures which may include debt repayments, and excludes $19.8 billion of capital for acquisitions since 2008. a) Includes KMP (2008-2014), EPB (2013-2014), and KMI (2015-2019B). Average from 2008-2018. b) Excludes capital expenditures of our Canadian assets from KML IPO (May 2017) forward, though we do include these expenditures in the denominator of our ROI calculation. c) Includes $2.0 billion growth capital and $1.1 billion JV contributions ($0.7 billion of expansion capital and $0.6 billion of debt repayments, net of $0.2 billion of partner contributions for our consolidated JVs). 26

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