West Region Gas Pipelines

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Cautionary Language Regarding Forward-Looking Statements

This presentation contains forward-looking statements. These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts. In particular, statements, express or implied, concerning future actions, conditions or events, future operating results or the ability to generate revenues, income or cash flow or to make distributions or pay dividends are forward-looking statements. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future actions, conditions or events and future results of operations of Kinder Morgan Energy Partners, L.P., Kinder Morgan Management, LLC, El Paso Pipeline Partners, L.P., and Kinder Morgan, Inc. may differ materially from those expressed in these forward-looking statements. Many of the factors that will determine these results are beyond Kinder Morgan's ability to control or predict. These statements are necessarily based upon various assumptions involving judgments with respect to the future, including, among others, the ability to achieve synergies and revenue growth; national, international, regional and local economic, competitive and regulatory conditions and developments; technological developments; capital and credit markets conditions; inflation rates; interest rates; the political and economic stability of oil producing nations; energy markets; weather conditions; environmental conditions; business and regulatory or legal decisions; the pace of deregulation of retail natural gas and electricity and certain agricultural products; the timing and success of business development efforts; terrorism; and other uncertainties. There is no assurance that any of the actions, events or results of the forward-looking statements will occur, or if any of them do, what impact they will have on our results of operations or financial condition. Because of these uncertainties, you are cautioned not to put undue reliance on any forward-looking statement.

Privileged and Confidential

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Opening Remarks – Will Brown

Macro Presentation – George Wayne

Break – 15 Min

Business Development Project Update – Greg Ruben

Operational/Pipeline Management Update – Mark Westhoff

Commercial Update/Customer Meeting Logistics – Tim Dorpinghaus

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West Region Gas Pipelines

Chris Meyer President

West Region Gas Pipelines

Curt Moffat V.P. & Deputy

General Counsel

Tom Martin President

KM Gas Pipelines

Allyson Schuur Executive Assistant

Greg Ruben VP

Business Development

Bill Wible VP

Regulatory

Will Brown VP

Business Management

Ray Jordan Director

Account Services

Tim Dorpinghaus Director

Marketing

Billy English Director

Asset Optimization

George Wayne Director

Market Services

Mark Westhoff VP

Pipeline Management

Jim Cordaro Director

Pipeline Mgmt Rockies

Kevin Johnson Director

Pipeline Mgmt DSW

Ken Ulrich Director Bus Dev

Laine Lobban Acct Director

Bus Dev

Tony Sanabria Acct Director

Bus Dev

Tim Mang Acct Director

Asset Optimization

Dan Tygret Acct Manager

Asset Optimization

Marcus Stewart Acct Manager

Keystone Storage

Thania Delgado Acct Manager

Marketing

Mark Iverson Acct Director

Marketing

Steve Newell Acct Director

Marketing

Robin Janes Acct Director

Marketing

Randy Barton Acct Director

Marketing

Damon McEnaney Acct Director

Marketing

Kim Wetzel Sr Analyst Bus Dev

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Kinder Morgan West Region

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George Wayne Director, Market Services

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+9.6 Bcfd Res +1.9 Bcfd

+20.1 Bcfd +1.5 Bcfd -2.0 Bcfd

+7.7 Bcfd

U.S. becomes net exporter Industrial demand growth

Less Canadian Exports to U.S. More U.S. Exports to Mexico Continued supply increases

Gas-fired generation increases

Source: ICF International and Kinder Morgan Analysis

Ind +3.1 Bcfd

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Supply (Dry Gas)

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Wellhead production has declined 0.7 Bcf/d over last year due to continued low rig count

Relative to 2015, declines are projected through 2018, followed by growth as gas prices recover. Only basin with material growth over the next decade is the Denver basin

Horizontal drilling = 65% of all rigs

Powder River activity increasing – 9 rigs

Basin Current Dry Production

MMcf/d

YOY Prod Growth MMcf/d

Current Rigs

Gas/Oil

Green River 2,770 (355) 11/0

Piceance 1,387 (104) 6/0

Uinta 667 (144) 0/7

Denver/Julesburg 1,617 17 0/25

Powder River 371 (71) 0/9

Other 106 (13) 0/1

Total 6,918 (669) 17/41

Rockies Active Rigs

Wellhead Production

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(Volumes are Wellhead – Measured in MMcfd)

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Active Rigs

Oil Production

2016 to 2026 Growth

+1.3 Bcfd +600 MBo/d

DJ Basin rigs almost 50% of total Rockies rigs. Transition to horizontal wells over last 6 years. Increased use of XRL drilling. Anticipate additional rigs added in 2017 –

Anadarko, Noble, PDC, Extraction, BBG

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Drilling activity in the San Juan Basin has been steadily declining. Coal Bed Methane (CBM) is depleting; however, we have started to see some recent horizontal drilling in the CBM. Moreover, since 2012, liquids rich plays are being develop (Gallup) with some optimistic results.

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San Juan Basin Production is expected to decline by approximately 670 MMcf/d over the next decade. Coal Bed Methane depletions are

primary driver of production decline.

Coal Bed Methane accounts for approximately 56% of total

production. Associated gas from the Gallup is projected to grow.

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$2.69

$2.66

$2.73

$2.17

$2.44

Prices are Prompt Month (Jun, 2017) Forwards, volumes are 2017 YTD average. 1Excludes Vancouver, B.C.

Pembina is acquiring Veresen and will continue developing the Jordan Cove LNG export terminal. Key FERC filing milestones expected in late 2017.

Northwest Innovation Works is developing 300 MDth/d Methanol export facility in Kalama, WA. They recently contracted I/T capacity on NWPL and may contract for additional firm capacity on upstream pipelines as needed. Future expansions in OR could bring total Methanol demand to 1 Bcf/d.

Woodfibre B.C. and Pacific NW LNG projects have received full Canadian Gov’t approval, but FID still pending. Woodfibre has begun remediation work at its brownfield site in preparation for possible facility construction.

PNW Demand

NoCal Demand

2016-2017 +240 -228

SUPPLY DEMAND

Sumas 1,114 PNW Demand1 2,490

GTN 2,135

NWPL 326 Malin Deliveries

1,757 Ruby 673

TOTAL 4,247 TOTAL 4,247

Sumas

Ruby Malin A

A

B

C

D

B

C D

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+2.6 Bcfd

+6.5 Bcfd

Most of the Permian Basin supply growth is coming from the Midland and Delaware Basins

based on superior economics. BE $35+/bo Permian Basin Forecast – 400 Rigs

Active Rigs

Oil Production

+3.0 MMBo/d

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Midland

Delaware

Midland and Delaware NGL production eclipsed 2 MMBbls.

Although NGL prices have improved since 2016, they are still not anticipated by the market to exceed pre-2014 pricing in the

next few years.

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Key Interstate Pipeline

Design

Capacity

Bcfd

A EPNG (San Juan Crossover) 0.613

B EPNG South Mainline (Cornudas West) 2.441

C TW (West Texas Lateral) 0.748

D NGPL (Segment 8 Capacity) 0.394

E NNG (Permian system) 0.455

Total Interstate Capacity 4.651

Key Intrastate Pipeline

Estimated

Capacity

Bcfd

F OneOK WestTex Red River* 0.400

G OneOK WestTex Elcor System* 0.143

H Enbridge Palo Duro Pipeline 0.075

I ATMOS 1.000

J Enterprise Texas 1.000

K KM Texas Pipeline 0.205

L Oasis Pipeline (Energy Transfer Fuels) 1.200

M Enterprise Texas 0.560

P Trans Pecos (early 2017) 1.356

Q Comanche Trails (early 2017) 1.135

R OneOK RoadRunner (2016-2018) 0.640

Total Intrastate Capacity 7.714

* OneOK WestTex Transmission – includes the Elcor System between the Permian and El Paso, TX (previously owned by EPNG) and the Red River pipeline between the Permian and the Texas Panhandle. - Elcor System – 20” pipeline with maximum capacity of 143 MMcfd - Red River Pipeline – 24” with maximum capacity between 300 and 400 MMcfd

P

Q

Source: Ventyx data, KM research, CFE

R

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Western markets and Mexico are the high value markets for Permian gas, but they are demand limited

LNG and Mexico exports (South TX) are key drivers for Gulf-

directed Permian gas

Local demand growth is driven by power

generation and processing

Midwest & North Central TX markets are “overflow” for

Permian gas as pipe capacity is

filled

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Without additional western demand or Permian capacity additions to the east,

Permian prices under Rockies and MidCon with continued competition

from AECO and the Northeast.

SoCal Border

MidCon

STX

Cheyenne AECO

Leidy

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Perm

ian

dry

gas

pro

du

ctio

n

Widening of Seasonal Spreads

Spreads Widen Further

Out of

Capacity

Without additional pipeline capacity to the east, Permian price is lower in 2019

with greater seasonal volatility

By 2021 as production continues to grow, eastbound capacity is full; hence, Permian prices lower to compete into

the MidCon

By 2024, Permian production outstrips all takeaway capacity out of the basin

The forward Permian basis narrows in 2020, suggesting the market is expecting expansion capacity to the east (not “yet”

assumed in the fundamental forecast)

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Source: Existing to planned capacity from Velocity Suite; Gas demand impacts derived from ICF International generation forecast data

Given the projections for existing and new renewable power, the West Region may see a

maximum demand destruction in power gen of 3.2 Bcfd (1.8 winter to 4.5 summer) by 2025.

CA natural gas intensity is decreasing while overall U.S. is increasing

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The EIM seeks to optimize generation resources across a broad power market region to reduce costs

and emissions: Minimizes sub-hourly dispatch

Reduces reserve capacity requirements Reduces renewable generation curtailments

Seattle City Light, Portland General Electric, Idaho Power, and Salt River Project will also join the EIM

100-200 MMcfd net impact to WECC region gas demand

Since its inception, EIM has saved $146 MM and averaged 5 MMcfd of reduced gas-fired generation

demand in 2016

Source: CAISO

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Rising gas production in the Permian begins to decrease Permian gas price after 2020. DSW and Mexico demand

increases market price. The net result is an increase in the spread to

Arizona and California; especially during summer peaks.

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Keystone Gas

Storage

Natural gas storage provides value due to

daily, monthly, and seasonal volatility.

Market changes are increasing volatility.

Increasing supply and outflows

Local unforeseen Events

Source: CAISO, ABB, Kinder Morgan Analysis

Growing renewables

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SENER Forecasts demand in Mexico to grow by 1.3 Bcfd between 2016

and 2026

Imports are forecasted to grow by 850 MMcfd between 2016 and 2026

Production in Mexico is forecasted to grow 460 MMcfd from 2016 to 2026

24 GW of renewable power generation capacity being installed

between 2016 and 2030

Currently, there is no existing natural gas storage in Mexico

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MX Import Demand vs. Import Pipe Capacity

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-230

Much of the Northeast, and

much of the Central and West-Central, demand

is supplied by Eagle Ford

Most of the Northwest, West-Central, and some Northeast demand supplied from Rockies and Permian

+700

+440

+380

-20

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Pipeline Capacity in Western Mexico

Sasabe El Paso

Tucson

Hueco

Waha

Guaymas

Topolobampo

Mazatlán

Presidio/ Ojinaga

El Encino

Puerto Libertad

IENova 30” ISD – Jun, 2017

510 mmcf/d

Transcanada 24” ISD – Jun, 2017 202 mmcf/d

Transcanada 30” ISD – Mid 2017 670 mmcf/d

IENova ISD – 2014 36” - 770 mmcf/d Fermaca

ISD – 2013 36” 850 mmcf/d

IENova ISD – May, 2017 42” - 1,350 mmcf/d

Transpecos ET Consortium

ISD – Mar, 2017 42” - 1,356 mmcf/d

Samalayuca

Fermaca ISD – Jan, 2018 42” - 1,500 mmcf/d

La Laguna

Comanche Trails – ET Consortium ISD – Jan, 2017 42” 1,135 mmcf/d

San Elizario/ San Isidro

IEnova - San Isidro to Samalayuca ISD – 2017 24-42” – 1,135 mmcf/d Carso - Sam to Sasabe

ISD – 2018 36” – 472 mmcf/d

ISD – 2015 510 mmcf/d

Aguascalientes

EPNG – South Mainline

• Information sourced from CFE Requests For Proposals and related press releases • ISD – In Service Date (actual or estimated) • mmcf/d – million cubic feet per day

Roadrunner - OneOk Fermaca Consortium

ISD – PH1 Mar, 2016; PH2 Oct, 2016; PH3 2019 30” 170-640 mmcf/d

Fermaca ISD – 2018 42” - 1,150 mmcf/d

KM/MGI/Mitsui - Sierrita PL ISD – Oct. 2014 36” – 201 mmcf/d (431 mmcf/d by 2020

SoCal Border

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Demand growth continues

LNG exports and Power Generation are primary sources of demand growth

Low gas prices incentivize Industrial and Residential growth

Supply growth continues to outpace domestic demand

Supply growth occurs in low-cost, highly productive fields

Fewer imports (Canada) and more exports (LNG and Mexico) provide balance between supply and demand

The Permian is an area of opportunity and challenges

Highly productive with direct access to premium western market and growth in Mexico

Growth may begin to test capacity

Increasing price and basis volatility

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Greg Ruben V.P. Business Development

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Facilities: 4 Cavern Bedded Salt Storage

4 Bcf Working Capacity 400 MM/D Withdrawal/183 MM/D Injection 15,100 HP compression, 16.6 mile 24” lateral to tie into EPNG (1100 Lines), 12.3 mile 16” lateral to tie into EPNG 2000/1600 Lines

Contract: November 2020 in-service

20 year term from final Cavern In-Service (2024)

Provides No-Notice Service to AGS Shippers Negotiations ongoing

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Description Expand capacity of Sierrita by 230 MDth/d;

total revised capacity of 431 MDth/d

Incremental volumes to serve growing

demand in Western Mexico Facilities

New compressor station (~16,000 HP) Transportation Agreement with CFE

19.5 year term

Status

CFE awarded capacity in Open Season:

October 2015

Finalizing compressor site acquisition

Sonora, Mexico

Ehrenberg Phoenix

Sierrita Pipeline

Tucson

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SAN JUAN

PERMIAN

ANADARKO

New Compression

17-mile Pipeline Loop

Ehrenberg Phoenix

El Paso

Waha

Sierrita Pipeline

Description

Expand west flow capability by 271MDth

Incremental volumes to Sierrita and Ehrenberg

Facilities

New compression near Deming and Willcox

17-miles of 30” line loop (Hueco towards El Paso)

Transportation Agreement with CFE

15+ Years

Status

CFE awarded capacity in Open Season: June 2016

Supplemental Open Season closes May 15 to

provide up to 50MDth additional capacity

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EPNG Permian Interconnection Activity

Keystone

Waha

Wink

Gresham

Black River

Cornudas

Eunice

New Mexico

Texas

Carlsbad

Hobbs

Puckett

Line 3

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2

Plains

Guadalupe

Delaware Basin

Midland Basin Central

Platform

Status Receipt (Mcfd)

2012 610,000

2013 615,000

2014 492,000

2015 1,566,200

2016 1,337,200

2017* 3,827,000

* Includes interconnects currently under construction

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EPNG Permian Expansion Projects

Keystone

Waha

Gresham

Black River

Cornudas

Eunice

New Mexico

Texas

Carlsbad

Hobbs

Puckett

Plains

Guadalupe

Orla

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493 KMTP

Expansion Underway

Potential Expansions

LINE 1600

LINE 2000

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CIG line 5A/B expansion project currently underway

190 MDth/d incremental capacity

Open season awarded in March 2017

In-service date targeted for September 2017

~1 Bcf/d of DJ north to Cheyenne Hub expansion potential without laying pipe

400 MDth/d on High Plains

300 MDth/d on CIG 5C

300 MDth/d on Front Range Pipeline

In-service as early as 3rd QTR 2018

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CIG DJ Basin Interconnect Activity

Volume (Mcf/d)

2013 625,000

2014 604,700

2015 236,630

2016 22,300

2017* 428,000

COLORADO

WYOMING

Denver

Colorado Springs

Ft. Collins

* Includes interconnects currently under construction

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Mark Westhoff V.P. Pipeline Management

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DJ Basin

Permian Basin

Rawlins

West Slope

San Juan Basin

Ehrenberg

South Mainline

North Mainline

Wind River Lateral

Cheyenne Plains Colorado Interstate Gas (CIG) El Paso Natural Gas (EPNG) Mojave Pipeline Ruby Pipeline TransColorado Wyoming Interstate Company (WIC)

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Proximity to demand centers

Rapid response to production issues

Coordination with receipt/delivery operators

Mainline flow reversals

Blending rich supplies on Wind River

Utilizing the assets of Western Pipes

Blending limits being reached

Decline of CIG west end receipts

Challenges for west slope deliveries

Pressure maintenance

Denver

Colorado Springs

Cheyenne

Rifle

Trinidad

Rawlins

Wind River Lateral

DJ Basin

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Plains south constraint reversed

San Juan production decline

North mainline utilization decline San Juan Crossover bi-directional Transport capacity usable linepack

Increasing utilization of south mainline

Line 2000 segregation Ehrenberg control valves Higher base linepack More narrow linepack range

San Juan Basin

North Mainline

Ehrenberg

Permian Basin

South Mainline

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Inconsistent with EPNG current operations

Impair effective communications

Create false impressions, nuisance notices

Maintain existing procedures, eliminate limits

7200 MMcf for high probability draft SOC

7000 and 7900 MMcf for low and high SOC

Tariff sections 11.1 (a) (i) (A) and (ii)

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Transport capacity at high utilization

Hard lesson: April 20

Safety related testing and maintenance

Coordination with stakeholders

Focus on those requiring shut in

General capacity impacts demanded much better communication

Going forward

Regular maintenance coordination

Emergent work: detailed analysis and communication

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Tim Dorpinghaus Director, KM West Pipeline Marketing

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Coding and Testing Nominations and Scheduling, Invoicing - 75% Complete Capacity Management – 80% Complete Allocations – 90% Complete Contracts - 100% Complete

Regulatory Update

Tariff changes approved by FERC – order received in November 2016

Customer Training Update WebEx refresher training sessions planned for – August/September (Dates TBD) Will provide in-house assistance for October business nominations (COS) – September

Key Dates

Complete all testing by September 1st Compliance filing for the approved Tariff Changes will be filed in September Open to Customers for October Business September 18th

Additional Questions

Conversion: please email #DartConversionWest@kindermorgan.com Training: Patty Beavers at 719-520-4321 or patty_beavers@kindermorgan.com Training: Evelyn Spencer at 719-520-4753 or evelyn_spencer@kindermorgan.com

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Dinner: Northern Sky Terrace/Rainmakers Ballroom 6pm

Breakfast: Deseo Room 6:30am- 8:30 am

Archers:

Depart from South Terrace at 8:30 am and return at 11:30am

Billy English (719) 433 - 1467

Botanical Gardens:

Depart from South Terrace at 9:00 am and return 12:30pm

Thania Delgado (719) 246 - 2324

Golf:

Pro-shop by 7:00am for 7:30 am tee off

Pro-shop – go out the back of the hotel and turn left

Damon McEnaney (719) 510 - 2219

South Terrace

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