Disclosure Forward looking statements / non-GAAP financial measures General The information contained in this presentation does not purport to be allinclusive or to contain all information that prospective investors may require.…
Kinder Morgan: Leader in North American Energy Infrastructure Unparalleled & irreplaceable asset footprint built over decades CO2 & transport Largest natural gas transmission network CO2 EOR oil & gas production Natural gas 6% 3%…
A Core Energy Infrastructure Holding Generating significant cash flow & returning significant value to shareholders 35 billion market capitalization One of the 10 largest energy companies in the S&P 500 14% owned by management…
Our Response to COVID-19 Prioritizing the health of our co-workers & their families while maintaining safe & reliable operations of our assets Leveraging well-established and previously utilized business continuity & pandemic response…
Resilient through Prior Cycles Conservative business strategy built to withstand commodity price dislocations Quarterly Adjusted EBITDA (left, in mm) WTI Crude Oil (right, / bbl) 2,100 100 1,900 90 1,700 80 1,500 70 1,300 60…
Prepared to Weather the Storm Disciplined management of the balance sheet improves financial position relative to prior downturns NET DEBT / ADJUSTED EBITDA CFFO CAPITAL EXPENDITURES DIVIDENDS PAID(c) in millions Significantly lower…
2020 Updated Guidance Revised to incorporate estimated impact of COVID-19 & oil price decline Change from Change from Key metrics 2020 Forecast 2020 Budget 2019 Adjusted EBITDA 7.0 billion (8)% (8)% Distributable cash flow 4.6…
Customers Are Primarily End-Users of the Products We Handle Net revenues underpinned by investment grade counterparties & credit support Ratings as of 5/15/2020 Marketer Midstream Not rated 6% 2% 11% Producer non-IG or not rated…
Highly-Contracted Cash Flows Stable cash flows with 74% take-or-pay or hedged earnings(a) CONTRACT MIX(a) Contract type: Payment feature: Example assets: Natural gas interstates / LNG (90%) Natural gas intrastates (75%b) 6% 2%…
U.S. Natural Gas Demand Expected to Remain Intact Increases in LNG & Mexico exports expected to offset modest declines in other sectors SHORT-TERM DEMAND TRENDS Bcfd, 2019 2021 +4.5 LNG exports +0.8 Mexico exports, net +0.4…
Hydrocarbons Required to Meet Long-Term Energy Demand U.S. energy infrastructure will be critical for decades GLOBAL PRIMARY ENERGY DEMAND BY FUEL Broad-based natural gas demand growth across all billion tons oil equivalent sectors…
3.3bn of Commercially-Secured Capital Projects Underway Our project backlog as of 3/31/2020 Demand Pull / KMI Capital Estimated Supply Push ( billion) In-Service Date Capacity Permian takeaway projects (PHP, TX Intrastates, NGPL) 0.9…
Successfully Achieving Attractive Build Multiples Established track record of leveraging our footprint & project management expertise Competitive advantages: INVESTMENT MULTIPLES: PROJECTS COMPLETED 2015-2019 Capital invested / year 2…
Prioritizing Environmental, Social & Governance (ESG) Ongoing enhancements to ESG disclosures Long-standing commitment to reducing methane emissions SUSTAINALYTICS ESG RISK RATING(a) SUCCESSFUL METHANE EMISSIONS REDUCTIONS(a) bcf,…
Compelling Investment Opportunity Strategically-positioned assets generating substantial cash flow with attractive investment opportunities Stable cash flows with 74% take-or-pay or hedged earnings(a) 7 billion 2020 Forecast…
Appendix
2020 Updated Guidance Assumptions Change from 2020 Budget Adjusted Segment EBDA Discretionary capital Key developments Reduced upstream customer activity impacting contributions from gathering & processing (G&P) assets, particularly…
2020 Updated Guidance Sensitivities Limited remaining commodity exposure for remaining 9 months Assumptions (last 9 mos) Change Potential Impact to Adjusted EBITDA & DCF (balance of year) Natural Gas Products Terminals CO2 Total…
Refined Products Pipes Historically A Steady Contributor Fee-based with stable volumes over time, including through prior crude oil price downturns 9% of total KMI EBDA REFINED PRODUCTS VOLUMES(a) mmbbld 2.0 17.0 HISTORICAL VOLUME…
Gathering & Processing Assets Across Multiple Key Basins Represents 10% of total KMI EBDA with 8% in Natural Gas & 2% in Products (primarily Bakken) 14% Other 43% Eagle Ford SHORT-TERM DRY GAS PRODUCTION OUTLOOK Copano South Texas &…
Leading the Way Out of the Permian Successfully completed GCX on time & budget PHP well underway Leveraging existing footprint into new takeaway capacity that reaches Natural Gas Pipelines across Texas & the Desert/Southwest (DSW),…
Supporting the Buildout of U.S. LNG Exports Serving significant liquefaction capacity & well-positioned to capture more Kinder Morgan network advantages: Natural gas transportation leader 70,000 miles of natural gas pipelines Move 40% of…
CO2 Segment Predictable Volumes & Hedged Commodity Price Mitigating uncertainties where possible EOR oil & gas production represents 6% of KMI business mix NET OIL PRODUCTION: ACTUALS VS. BUDGET HEDGED VOLUMES mbbld as of 4/7/2020…
CO2 Segment Consistently Generates Free Cash Flow Low cash cost structure yields healthy margins through multiple commodity price cycles EOR OIL & GAS CASH OPERATING COSTS CO2 SEGMENT FREE CASH FLOW per net barrel millions Cash costs…
Non-GAAP Financial Measures & Reconciliations Defined Terms Reconciliations for the historical periods 26
Use of Non-GAAP Financial Measures The non-GAAP financial measures of Adjusted Earnings and distributable cash flow (DCF), each in the aggregate and per share; segment earnings before depreciation, depletion, amortization (DD&A) and…
Use of Non-GAAP Financial Measures (Continued) Adjusted Segment EBDA is calculated by adjusting segment earnings before DD&A and amortization of excess cost of equity investments (Segment EBDA) for Certain Items attributable to the…
GAAP Reconciliations in millions Reconciliation of DCF 2019 Reconciliation of Adjusted EBITDA 2019 Net income available to common stockholders (GAAP) 2,190 Net income (GAAP) 2,239 Total Certain Items (29) Total Certain Items (29)…
GAAP Reconciliations in millions Reconciliation of Adjusted Segment EBDA 2019 Reconciliation of interest, net 2019 Natural Gas Pipelines (GAAP) 4,661 Interest, net (GAAP) (1,801) Certain Items (51) Certain Items (15) Natural Gas…
Reconciliation of CO2 Free Cash Flow in millions Reconciliation of CO2 Free Cash Flow 2015 2016 2017 2018 2019 Segment EBDA 657 827 847 759 681 Certain items: Non-cash impairments and project write-offs 622 29 - 79 75…
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