KINDER MORGAN, INC. — M&A Activity 2011

Dec 6, 2011

Companies Run By Shareholders, For Shareholders David Kinder VP Corporate Development & Treasurer December 6, 2011 Filed by Kinder Morgan, Inc. Pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 of the Securities Exchange Act of 1934. Subject Company: El Paso Corporation Commission File No.: 001-14365 Commission File No. for Registration Statement on Form S-4: 333-177895

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 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. 2

Use of Non-GAAP Financial Measures 3 The non-generally accepted accounting principles ("non-GAAP") financial measures of distributable cash flow before certain items (both in the aggregate and per unit), segment earnings before depreciation, depletion, amortization and amortization of excess cost of equity investments ("DD&A") and certain items, segment distributable cash flow before certain items, and earnings before interest, taxes and DD&A ("EBITDA") before certain items are included in this presentation. Our non-GAAP financial measures should not be considered as alternatives to GAAP measures such as net income or any other GAAP measure of liquidity or financial performance. Distributable cash flow before certain items and EBITDA before certain items are significant metrics used by us and by external users of our financial statements, such as investors, research analysts, commercial banks and others, to compare basic cash flows generated by us to the cash distributions we expect to pay our unitholders on an ongoing basis. Management uses these metrics to evaluate our overall performance. Distributable cash flow before certain items also allows management to simply calculate the coverage ratio of estimated ongoing cash flows to expected cash distributions. Distributable cash flow before certain items and EBITDA before certain items are also important non-GAAP financial measures for our unitholders because they serve as indicators of our success in providing a cash return on investment. These financial measures indicate to investors whether or not we typically are generating cash flow at a level that can sustain or support an increase in the quarterly distributions we are paying pursuant to our partnership agreement. Our partnership agreement requires us to distribute all available cash. Distributable cash flow before certain items, EBITDA before certain items and similar measures used by other publicly traded partnerships are also quantitative measures used in the investment community because the value of a unit of such an entity is generally determined by the unit's yield (which in turn is based on the amount of cash distributions the entity pays to a unitholder). The economic substance behind our use of distributable cash flow before certain items and EBITDA before certain items is to measure and estimate the ability of our assets to generate cash flows sufficient to make distributions to our investors. We define distributable cash flow before certain items to be limited partners' pretax income before certain items and DD&A, less cash taxes paid and sustaining capital expenditures for KMP, plus DD&A less sustaining capital expenditures for Rockies Express, Midcontinent Express, Fayetteville Express, KinderHawk and Cypress, our equity method investees, less equity earnings plus cash distributions received for Express and Endeavor, two additional equity investees. Distributable cash flow before certain items per unit is distributable cash flow before certain items divided by average outstanding units. Segment distributable cash flow before certain items is segment earnings before certain items and DD&A less sustaining capital expenditures. In certain instances to calculate segment distributable cash flow, we also add DD&A less sustaining capital expenditures for Rockies Express, Midcontinent Express, Fayetteville Express, KinderHawk and Cypress, our equity method investees. We define EBITDA before certain items as pretax income before certain items, plus interest expense and DD&A, including the DD&A of REX, MEP, FEP, KinderHawk and Cypress, our equity method investees. "Certain items" are items that are required by GAAP to be reflected in net income, but typically either (1) do not have a cash impact, for example, goodwill impairments, allocated compensation for which we will never be responsible, and results from assets prior to our ownership that are required to be reflected in our results due to accounting rules regarding entities under common control, or (2) by their nature are separately identifiable from our normal business operations and in our view are likely to occur only sporadically, for example legal settlements, hurricane impacts and casualty losses. Management uses this measure and believes it is important to users of our financial statements because it believes the measure more effectively reflects our business' ongoing cash generation capacity than a similar measure with the certain items included. For similar reasons, management uses segment earnings before DD&A and certain items and segment distributable cash flow before certain items in its analysis of segment performance and managing our business. We believe segment earnings before DD&A and certain items and segment distributable cash flow before certain items are significant performance metrics because they enable us and external users of our financial statements to better understand the ability of our segments to generate cash on an ongoing basis. We believe they are useful metrics to investors because they are measures that management believes are important and that our chief operating decision makers use for purposes of making decisions about allocating resources to our segments and assessing the segments' respective performance. We believe the GAAP measure most directly comparable to distributable cash flow before certain items and to EBITDA before certain items is net income. Segment earnings before DD&A is the GAAP measure most directly comparable to segment earnings before DD&A and certain items and segment distributable cash flow before certain items. Our non-GAAP measures described above should not be considered as an alternative to GAAP net income, segment earnings before DD&A or any other GAAP measure. Distributable cash flow before certain items, segment earnings before DD&A and certain items, segment distributable cash flow before certain items and EBITDA before certain items are not financial measures in accordance with GAAP and have important limitations as analytical tools. You should not consider any of these non-GAAP measures in isolation or as a substitute for an analysis of our results as reported under GAAP. Because distributable cash flow before certain items and EBITDA before certain items exclude some but not all items that affect net income and because these measures are defined differently by different companies in our industry, our distributable cash flow before certain items and EBITDA before certain items may not be comparable to similarly titled measures of other companies. Segment earnings before DD&A and certain items and segment distributable cash flow have similar limitations. Management compensates for the limitations of these non-GAAP measures by reviewing our comparable GAAP measures, understanding the differences between the measures and taking this information into account in its analysis and its decision making processes. A reconciliation of these measures to the most comparable GAAP measures is provided on our website at: http://www.kindermorgan.com/investor/presentations/

4 IMPORTANT ADDITIONAL INFORMATION WILL BE FILED WITH THE SEC Kinder Morgan, Inc. (“KMI”) has filed with the SEC a Registration Statement on Form S-4 in connection with the proposed transaction including a preliminary Information Statement/Prospectus of KMI and a preliminary Proxy Statement of El Paso Corporation (“EP”). The Registration Statement has not yet become effective. Following the Registration Statement having been declared effective by the SEC, KMI and EP plan to file with the SEC and mail to their respective stockholders a definitive Information Statement/Proxy Statement/Prospectus in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND THE PRELIMINARY INFORMATION STATEMENT/PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED BY KMI OR EP, INCLUDING THE DEFINITIVE INFORMATION STATEMENT/PROXY STATEMENT/PROSPECTUS, BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders are able to obtain free copies of the Registration Statement and the preliminary Information Statement/Proxy Statement/Prospectus and other documents filed with the SEC by KMI and EP through the web site maintained by the SEC at www.sec.gov or by phone, e-mail or written request by contacting the investor relations department of KMI or EP at the following: Kinder Morgan, Inc. El Paso Corporation Address: 500 Dallas Street, Suite 1000 1001 Louisiana Street Houston, Texas 77002 Houston, Texas 77002 Attention: Investor Relations Attention: Investor Relations Phone: (713) 369-9490 (713) 420-5855 E-mail: kmp_ir@kindermorgan.com investorrelations@elpaso.com This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. PARTICIPANTS IN THE SOLICITATION KMI and EP, and their respective directors and executive officers, may be deemed to be participants in the solicitation of proxies in respect of the proposed transactions contemplated by the merger agreement. Information regarding KMI’s directors and executive officers is contained in KMI’s Form 10-K for the year ended December 31, 2010, which has been filed with the SEC. Information regarding EP’s directors and executive officers is contained in EP’s Form 10-K for the year ended December 31, 2010 and its proxy statement dated March 29, 2011, which are filed with the SEC. A more complete description will be available in the Registration Statement and the Information Statement/Proxy Statement/Prospectus. SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS Statements in this document regarding the proposed transaction between KMI and EP, the expected timetable for completing the proposed transaction, future financial and operating results, benefits and synergies of the proposed transaction, future opportunities for the combined company, the sale of EP’s exploration and production assets, the possible drop-down of assets and any other statements about KMI or EP managements’ future expectations, beliefs, goals, plans or prospects constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” estimates and similar expressions) should also be considered to be forward looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward looking statements, including: the ability to consummate the proposed transaction; the ability to obtain the requisite regulatory, shareholder approvals and the satisfaction of other conditions to consummation of the transaction; the possibility that financing might not be available on the terms committed; the ability to consummate contemplated asset sales; the ability of KMI to successfully integrate EP’s operations and employees; the ability to realize anticipated synergies and cost savings; the potential impact of announcement of the transaction or consummation of the transaction on relationships, including with employees, suppliers, customers and competitors; the ability to achieve 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, including changes in the price of certain commodities; 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 the other factors described in KMI’s and EP’s Annual Reports on Form 10 K for the year ended December 31, 2010 and their most recent quarterly reports filed with the SEC. KMI and EP disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this document.

Different Ownership Interests in Same Set of Assets Kinder Morgan Energy Partners, L.P. Market Equity $25.7 (a) Debt 12.2B (b) Enterprise Value $37.9B 2011E LP Distribution per Unit $4.60 (c) 2011E Total Distributions $2.6B (c) 85MM (86%) 14MM (14%) Distributions in additional i-units / shares KMR (LLC) 99 million shares (a) LP & GP Distributions $1.3B (c) KMI Public Float KMI Cash distributions KMP (Partnership) 236 million units (a) 214MM (91%) KMI (Inc.) 708 million shares (d) Public Float Management / Original S/H Sponsors 22MM (9%) Kinder Morgan, Inc. Market Equity $21.9B (d) Debt 3.2B (e) Enterprise Value $25.1B 2011E Dividend per Share $1.19 (f) 2011E Total Dividends $842MM (f) 110MM (16%) 319MM (45%) 279MM (39%) (a) As of 12/2/2011; KMP market equity based on ~236 million common units (includes 5.3 million Class B units owned by Kinder Morgan, Inc.; Class B units are unlisted KMP common units) at a price of $78.78, and ~99 million KMR shares at a price of $71.49 (b) Debt balance as of 9/30/2011, excludes the fair value of interest rate swaps, net of cash (c) 2011 budget (d) As of 12/2/2011; KMI market equity based on 708 million fully-diluted shares (including restricted shares) at a price of $31.00; ownership figures adjusted for management purchases reflected on SEC Form 4s through 11/23/2011 (e) Debt of KMI and its subsidiaries, excluding KMP and its subsidiaries as of 9/30/2011; excludes the fair value of interest rate swaps, purchase accounting and Kinder Morgan G.P., Inc.’s $100 million of Series A Fixed-to-floating Rate Term Cumulative Preferred Stock due 2057, net of cash (f) Based on expected 2011 dividend per share, on declared basis 5

KMR 101 (a) KMR is KMP KMR shares are pari passu with KMP units KMR dividend equal to KMP cash distribution, but paid in additional shares; effectively a dividend reinvestment program (b) Like KMP units, KMR shares are tax efficient — but with simplified tax reporting (no K-1s, UBTI) KMR is a significant entity KMR market cap = $7.0 billion, ~30% of total KMP capitalization (c) ~$20 million in daily liquidity KMR has generated strong returns for investors and trades at an unjustified discount to KMP 14.9% compound annual total return since ‘01 IPO vs. 15.4% for KMP Current 9.3% discount compared to historical 7.8% discount since IPO Insiders prefer KMR Management has purchased KMR at a rate of over 2:1 vs KMP, or almost 7:1 excluding one transaction (d) 6 KMR Discount to KMP Management Purchases of KMR / KMP (d) $10 $8 $6 $4 $2 $0 KMR KMR $8.1 $4.5 (millions) 10% 5% 0% -5% -10% -15% -20% Dec-00 Dec-02 Dec-04 Dec-06 Dec-08 Dec-10 IPO 5/14/2001 (a) All figures through / as of 12/2/2011; see footnotes on slide 10 for explanation of total return calculations (b) Calculation of share dividend: KMP quarterly cash distribution per unit divided by KMR 10-day avg price prior to x-date = fractional share paid for every KMR share owned, e.g. $1.16 / $65.986 = 0.017579 share; example reflects actual KMR share dividend calculated for 3Q 2011 paid on 11/14/2011; refer to KMP 3Q 2011 10-Q for more information (c) As of 12/2/2011; see footnotes on slide 5 for more information (d) Purchase of KMR shares and KMP units by directors and officers of KMR/KMP since the KMR IPO in 2001, as reported in SEC Form 4 filings; 7:1 ratio excludes one open market purchase of KMP units relating to an arrangement requiring cash distributions for payment of interest

Our Strategy: Stay the Course Focus on stable fee-based assets that are core to North American energy infrastructure — Market leader in each of our business segments Control costs — It’s the investors’ money, not management’s – treat it that way Leverage asset footprint to seek attractive capital investment opportunities, both expansion and acquisition — Since 1997, KMP has completed $11.5 billion in acquisitions and $13.0 billion in greenfield / expansion projects Maintaining a strong balance sheet is paramount — Enables continued access to capital markets to grow the business — KMP accessed capital markets for over $24 billion since inception (a,b) Keep it simple 7 Same Strategy Since Inception (a) Through 9/30/2011 (b) Adjusted for 3Q KMR dividend paid on 11/14/2011 (a)

8 Asset Footprint Largest independent transporter of petroleum products in the U.S. — Transport ~1.9 MMBbl/d (a) 2 largest transporter of natural gas in the U.S. — Own an interest in / operate over 24,000 miles of interstate / intrastate pipeline — Connected to many important natural gas shale plays including Eagle Ford, Haynesville, Fayetteville and Barnett — Largest provider of contracted natural gas treating services in U.S. Largest transporter of CO 2 in the U.S. — Transport ~1.3 Bcf/d of CO 2 (a) 2 largest oil producer in Texas — Produce ~54 MBbl/d of crude oil gross (~36 MBbl/d net) (a) Largest independent terminal operator in the U.S. — Own an interest in or operate over 180 liquids / dry bulk terminals (b) — 107 MMBbls domestic liquids capacity (c) — Expect to handle over 100 MMtons of dry bulk products in 2011 — Largest handler of petcoke in U.S. Only Oilsands pipeline serving the West Coast — TMPL transports ~300 MBbl/d to Vancouver / Washington State Pacific Northern TransColorado 2 Pacific CALNEV KMCO KMTP KMTejas Wink SACROC Yates 9 5 3 Plantation Cypress 4 Central Florida 7 2 2 4 3 2 2 3 KMIGT Trailblazer 2 Cochin Express Platte Trans Mountain Claytonville KMLP REX REX MEP 2 FEP Puget Sound 2 2 3 2 KinderHawk Katz Eagle Ford ESPL Horizon NGPL 2 4 2 2 2 2 3 2 2 4 nd nd (a) 2011 budget (b) Excludes 33 transload facilities (c) Includes leased capacity NGPL GAS STORAGE (KMI) NATURAL GAS PROCESSING NGPL (KMI) NATURAL GAS STORAGE NATURAL GAS PIPELINES PRODUCTS PIPELINES TERMINALS TRANSMIX FACILITIES PRODUCTS PIPELINES GAS TREATERS CRUDE OIL PIPELINES TERMINALS KM HEADQUARTERS PETROLEUM PIPELINES ( 2 , 3 , 8 ) INDICATES NUMBER OF FACILITIES IN AREA PETROLEUM PIPELINES TERMINALS CO 2 PIPELINES CO 2 OIL FIELDS 2 3

15 Years of Consistent Growth KMP Total Distributions (GP + LP) ($MM) (a) KMP Annual LP Distribution Per Unit (b) KMP Net Debt to EBITDA (c) 9 (a) In 2010, total distributions paid were $2,250 million. These distributions would have been $2,420 million ($170 million greater) if all distributions paid in August 2010 had been cash from operations, rather than a portion being a distribution to the LPs of cash from interim capital transactions; the GP receives only 2% of distributions of cash from interim capital transactions (b) Annual LP distribution, rounded to 2 decimals where applicable (c) Debt is net of cash and excludes fair value of interest rate swaps (d) 2011 budget (e) 2011 forecast

Significant Historical Returns (a) Total Return YTD 2011 2010 2-year (e) 3-year (e) 5-year (e) KMP 19% 23% 78% 61% 108% KMR 15% 32% 97% 60% 114% S&P 500 Index 1% 15% 46% -8% 12% Alerian MLP Index 9% 36% 140% 52% 115% MSCI REIT Index 3% 28% 64% 2% 16% Philadelphia UTY Index 14% 6% 16% -15% 21% KMP: 26% CAGR Since ’96 (b) KMR: 15% CAGR Since ‘01 (c) Source: Bloomberg (a)Total returns calculated on daily basis through 12/2/2011, except where noted; assume dividends / distributions reinvested in index / stock / unit (b)Start date 12/31/1996 (c)Start date 5/14/2001; KMR initial public offering; KMP CAGR over same period is 15% (d)Alerian MLP index (e)Calculated through 12/31/2010, start dates for 2-year, 3-year and 5-year return calculations are 12/31/2008, 12/29/2007 and 12/31/2005, respectively 10 AMZ (d) = $963 KMP = $3,118 KMR = $431 Dollars Dollars S&P 500 = $219 S&P 500 = $122 AMZ (d) = $446 IPO 5/14/2001

Promises Made, Promises Kept KMP Budgeted Distribution per unit: 2000: $1.60 2001: $1.95 2002: $2.40 2003: $2.63 2004: $2.84 2005: $3.13 2006: $3.28 2007: $3.44 2008: $4.02 2009: $4.20 2010: $4.40 2011: $4.60 KMP Actual Distribution per unit: 2000: $1.71 2001: $2.15 2002: $2.435 2003: $2.63 2004: $2.87 2005: $3.13 2006: $3.26 2007: $3.48 2008: $4.02 2009: $4.20 2010: $4.40 Promises Made Promises Kept 11 Achieved LP distribution target in 10 out of 11 years

Kinder Morgan 2011-2012 Budget Guidance KMP 2011 Budget $4.60 per unit LP distributions declared 2012 Budget $4.98 per unit LP distributions declared (8.3% growth) (a) Total segment earnings before DD&A of almost $4.4 billion Assumes WTI crude oil price of $93.75/Bbl on unhedged crude oil production Sensitivity is ~$6 million per $1/Bbl change in crude price (slightly more than 0.1% of total segment earnings before DD&A) Total growth capex of $1.7 billion (b) Over $490 million of equity funded by KMR dividend KMI 2011 Budget $1.16 per share dividend ($1.19 expected on declared basis) 2012 Budget $1.35 per share dividend declared (a,c) 12 Operate all of our assets in a safe, compliant and environmentally sound manner (a) Does not include any impact from the proposed acquisition of El Paso by KMI (b) Includes capital for internal expansions, small acquisitions and contributions to joint ventures (c) KMI previously announced that if the El Paso transaction were to close on January 1, 2012, KMI would expect to pay dividends per share of around $1.45 for 2012; since the transaction is unlikely to be in effect for the full year 2012, KMI’s actual dividend in 2012 will likely be slightly less than $1.45

KMP

Diversified Cash Flow $1,079MM segment EBDA (a,d) — 50% Interstate — 50% Intrastate (e) $730MM segment EBDA (a) — 56% Pipelines — 39% Associated Terminals — 5% Transmix $1,098MM segment EBDA (a) — 28% CO 2 transport and sales — 72% oil production related — Production hedged (b) : 2011=87% ($71/Bbl) (c) 2012=72% ($90) 2013=47% ($92) 2014=25% ($93) 2015=11% ($99) $713MM segment EBDA (a) — 56% Liquids — 44% Bulk CO 2 Terminals Products Pipelines Natural Gas Pipelines KMP Segment Earnings before DD&A 2011E = $3.8 billion (a,d) $193MM segment EBDA (a) 14 (a) Budgeted 2011 segment earnings before DD&A excluding certain items (b) Percent of estimated net crude oil and heavy natural gas liquids production; 2011 figures represent remaining hedges as of November, 2011 (c) 2011 budget assumes an $89/Bbl price on unhedged barrels (d) Includes $176.9 million of JV depreciation for REX, MEP, FEP, KinderHawk and Cypress (e) Includes upstream segment (KMP) Kinder Morgan Canada 28% 29% 19% 19% 5%

$2.6 Billion Growth Expenditures Forecast in 2011 (a) • $1,295 million of equity - $838.8MM in KMP through secondary offerings / ATM - $23.7MM issued as part of TGS acquisition - $432.1MM in KMR dividends (includes KMR 3Q dividend paid 11/14/2011) • $1,150 million of new debt ($1,850 million including $700 million refinancing) (a) 2011 forecast; where applicable, includes equity contributions to joint ventures (~$400 million) and acquisitions (~$1.2 billion) (b) Includes growth capital expenditures for Kinder Morgan Canada of ~$11 million Natural Gas Pipelines Products Pipelines (b) Terminals CO 2 KMP Growth Expenditures 2011E = $2.6 billion (a,b) 15 (KMP) Year-to-date capital raised through 9/30/2011:

Near-term Areas of Growth Potential Projects Estimated Investment Near-term (3-5 years) (a) Natural Gas / Liquids – Investments in shale infrastructure Natural gas pipeline extensions / new construction Crude / condensate storage Convert natural gas assets to liquids / crude service – $1.0–1.8 billion Terminals – Coal exports Add ~35mm tons of incremental export coal capacity at existing facilities – $0.7–0.8 billion CO 2 – CO used for enhanced oil recovery (EOR) 100-300 MMcf/d expansion of CO source and transportation capacity – $0.5–1.3 billion Kinder Morgan Canada – Move Oilsands crude and refined products to West Coast for export Expand Trans Mountain pipeline capacity by 80-400 MBbl/d – $1.5–4.0 billion 16 (KMP) $3.7 to $7.9 billion in potential future growth opportunities (a) Potential total project cost (8/8ths) 2 2

($ in billions) (a) Includes equity contributions to joint ventures (b) 1998 – 2010, does not include 2011 budget (c) 2011 forecast Total Invested by Type (a,b) Total Invested by Segment (a,b) 17 Total Invested by Year (a,b) Over $22B of Growth Capital Invested (a,b) (KMP)

Returns on Capital 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Segment ROI (a) : Products Pipelines 11.9% 11.8% 12.8% 12.9% 12.4% 11.6% 11.8% 13.2% 12.5% 13.4% 13.7% Natural Gas Pipelines 13.3 15.5 12.9 13.5 14.0 15.5 16.7 17.5 16.9 14.0 11.9 CO 2 27.5 24.6 22.0 21.9 23.8 25.7 23.1 21.8 25.9 23.5 25.7 Terminals 19.1 18.2 17.7 18.4 17.8 16.9 17.1 15.8 15.5 15.1 14.6 Kinder Morgan Canada -- -- -- -- -- -- -- 11.0 12.1 12.8 13.7 KMP ROI 12.3% 12.7% 12.6% 13.1% 13.6% 14.3% 14.4% 14.1% 14.9% 13.9% 13.5% KMP Return on Equity 17.2% 19.4% 20.9% 21.7% 23.4% 23.9% 22.6% 22.9% 25.2% 25.2% 24.3% 18 (KMP) Note: A definition of this measure may be found in the appendix to the Analyst Conference presentation dated 3/24/2011, which is available on our website at www.kindermorgan.com (a) G&A is deducted to calculate the KMP ROI, but is not allocated to the segments and therefore not deducted to calculate the individual Segment ROI

Balance Sheet Remains Solid (a) 2011 $7 (e) 2012 $967 (f) 2013 $507 2014 $501 2015 $300 Total bank credit $2,200 Less: Commercial paper (353) Letters of credit (232) Excess capacity $1,615 Credit Summary Revolver Capacity Long-Term Debt Maturities Debt / EBITDA (b,c) 3.6x EBITDA / interest (c) 6.4x Long-term debt rating Baa2 / BBB / BBB (d) ($ in millions) (a) All figures as of 9/30/2011 (b) Debt balance excludes fair value of interest rate swaps and is net of cash (c) EBITDA and interest are trailing 12 months, EBITDA includes our proportionate share of REX, MEP, FEP, KinderHawk (through 2Q 2011), Eagle Hawk (beginning 3Q 2011) and Cypress DD&A (d) As rated by Moody’s, S&P and Fitch, respectively (e) Remaining 2011 maturities (f) Excludes 9% senior notes due 2/1/2019 with optional put in 2012 19 (KMP)

Focused on Distribution Growth History of Delivering Distribution Growth (a) : — 1-year growth = 4.8% — 3-year growth = 8.1% — 5-year growth = 7.0% Annual LP Distribution Per Unit (b) (a) Compound annual growth in KMP LP distributions per unit for the 1-year, 3-year and 5-year periods ending 12/31/2010 (b) Annual LP distribution, rounded to 2 decimals where applicable (c) 2011 budget 20 (KMP)

KMI

98% of Cash Comes from KMP A major interstate natural gas pipeline and one of the largest natural gas storage operators in the U.S. KMI owns a 20% equity interest and operates the pipeline FERC-regulated Primary customers are in Chicago General Partner interest receives incentive distributions from KMP KMI owns ~11% of total limited partner interests Interests in KMP (b) NGPL (a) 2011 budget (b) Includes: (i) general partner interest, (ii) 21.7 million KMP units and (iii) 14.1 million KMR shares KMI Total Cash Receipts 2011E = $1.36 billion (a) — Limited capital expenditures above KMP level — Post the IPO, new public stockholders own ~16% of KMI, the sponsors own ~45%, and Rich Kinder, other management and original stockholders own ~39% — In 2011, KMI is budgeted to receive $1.36 billion in distributions, and after paying cash taxes, cash interest and G&A, is budgeted to have $820 million to distribute 22 (KMI)

Liquidity Summary (a) 2011 --- (d) 2012 $839 2013 --- 2014 --- 2015 $250 Total bank credit $1,000 Less: Revolver drawn (375) Letters of credit (41) Excess capacity $584 Credit Summary Revolver Capacity Long-Term Debt Maturities 2.4x Long-term debt rating Ba1 / BB / BB+ (c) ($ in millions) 23 (a) Debt of KMI’s subsidiary, Kinder Morgan Kansas, Inc; all figures as of 9/30/2011 (b) Distributions received from equity investees net of G&A and sustaining capital expenditures for trailing 12 months; net debt excludes the fair value of interest rate (c) As rated by Moody’s, S&P and Fitch, respectively (d) Remaining 2011 maturities (KMI) Net debt / distributions received less G&A (b) swaps, purchase accounting and Kinder Morgan G.P., Inc.’s $100 million of Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock due 2057

KMP Drives KMI Growth Substantial cash flow Minimal capital expenditures at KMI level Strong balance sheet Growing distributions and investment at KMP drive KMI dividend growth KMP Cash Distributions Received by KMI 24 (a) In 2010, total distributions paid to KMI (GP + LP) were $1,032 million. These distributions to KMI would have been $1,202 million ($170 million greater) if all distributions paid in August 2010 had been cash from operations, rather than a portion being a distribution to the LPs of cash from interim capital transactions; the GP receives only 2% of distributions of cash from interim capital transactions (b) 2011 budget (KMI)

KMP Risks Regulatory — Pacific Products Pipeline FERC / CPUC cases — Periodic rate reviews — Unexpected policy changes Crude Oil Production Volumes Crude Oil Prices — 2011 budget assumes $89/Bbl realized price on unhedged barrels Economically Sensitive Businesses (e.g., steel terminals) Environmental Terrorism Interest Rates — ~50% floating rate debt — The full-year impact of a 100-bp increase in rates equates to an approximate $60 million increase in interest expense 25

KMI, KMP & KMR: Attractive Value Proposition Unparalleled asset footprint Established track record Industry leader in all business segments Experienced management team Supportive general partner Transparency to investors Attractive returns driven by combination of yield plus growth 26

El Paso Update

Kinder Morgan National Footprint Pro Forma for Proposed KMI Acquisition of El Paso Kinder Natural Gas Pipelines Natural Gas Storage Natural Gas Processing Gas Treaters NGPL (KMI) NGPL Gas Storage (KMI) Products Pipelines Products Pipelines Terminals Transmix Facilities CO 2 Pipelines CO 2 Oil Fields Crude Oil Pipelines Terminals Petroleum Pipelines Petroleum Pipelines Terminals Headquarters El Paso Natural Gas Pipelines Tennessee Gas Pipeline Elba Express Pipeline Elba Island LNG Florida Gas Transmission (50%) Gulf LNG (50%) Southern Natural Gas Cheyenne Plains Pipeline Wyoming Interstate Colorado Interstate Gas Mojave Pipeline El Paso Natural Gas Ruby Pipeline (50%) Combined Assets 28

El Paso Transaction Timeline E&P sale process under way Integration plan being developed Expect Q1 2012 shareholder meeting — Registration statement filed Expect Q2 2012 closing HSR pre-merger notification forms filed 29

Appendix

KMP 2011 Budget (a) 2010 2011 Change Actual Budget $ % Segment EBDA $3,311.8 $3,636.7 $324.9 10% Segment EBDA w/JV DD&A (b) $3,457.4 $3,813.6 $356.2 10% Distributable cash flow Net income $1,505.5 $1,746.9 $241.4 16% DD&A (b) 1,056.2 1,100.1 43.9 4 Book / cash tax difference 26.3 38.1 11.8 45 Eagle Ford / Express / Endeavor 4.7 6.8 2.1 45 Sustaining capex (c) (179.2) (224.8) (45.6) 25 Total distributable cash flow 2,413.5 2,667.1 253.6 11 General partner's interest (1,053.4) (1,153.0) (99.6) 9 Distributable cash flow $1,360.1 $1,514.1 $154.0 11% Average Units Outstanding 307.1 321.1 14.0 5% Total DCF per unit $4.43 $4.72 $0.29 6% LP distribution per unit $4.40 $4.60 $0.20 5% Excess coverage $8.5 $37.0 Earnings per unit $1.47 $1.85 ($ in millions, except per unit) 31 (a) Excluding certain items (b) Includes $145.6 million and $176.9 million of joint venture DD&A for full-year 2010 and 2011, respectively, for our share of REX, MEP, FEP, KinderHawk and Cypress (c) Includes joint venture sustaining capex for our share of REX, MEP, FEP, KinderHawk and Cypress

KMP Quarterly Profile (a) (a)Excluding certain items; please see KMP’s periodic reports on Form 10-K and Form 10-Q for a more detailed presentation (b)Includes joint venture DD&A for our share of REX, MEP, FEP, KinderHawk and Cypress (c)2011 budget (d)Includes our share of joint venture DD&A and is reduced by joint venture sustaining capital expenditures 1Q 2Q 3Q 4Q Year Segment EBDA w/JV DD&A (b) 2011B Total Segments (c) 24% 23% 25% 28% $3,813.6 2010 Products Pipelines 24% 26% 25% 25% $687.5 Natural Gas Pipelines 26% 22% 23% 29% 981.4 CO 2 26% 25% 24% 25% 960.2 Terminals 23% 25% 25% 27% 646.6 Kinder Morgan Canada 25% 24% 24% 27% 181.6 Total Segments 25% 24% 24% 27% $3,457.4 2009 Products Pipelines 23% 25% 26% 26% $635.1 Natural Gas Pipelines 25% 20% 25% 30% 862.1 CO 2 21% 25% 25% 29% 796.4 Terminals 23% 25% 25% 27% 576.1 Kinder Morgan Canada 21% 26% 29% 24% 165.7 Total Segments 23% 24% 25% 28% $3,035.4 DCF/unit (d) 2011B (c) 25% 20% 24% 31% $4.72/unit 2010 27% 24% 23% 26% $4.43/unit 2009 23% 23% 26% 28% $4.25/unit Earnings/unit 2011B (c) 23% 17% 23% 37% $1.85/unit 2010 29% 24% 16% 31% $1.47/unit 2009 16% 24% 29% 31% $1.38/unit ($ in millions, except per unit) 32

KMP’s Stable Asset Base Natural Gas Pipelines Products Pipelines CO 2 Terminals Kinder Morgan Canada Volume Security – Interstate: virtually all take or pay – Intrastate: ~75% take or pay (a) – Volume based – S&T: primarily minimum volume guarantee – Liquids: take or pay – Bulk: minimum volume guarantee, requirements – No volume risk Remaining Contract Life – Transportation: 9.0 yrs – Not applicable – S&T: 4.7 yrs – Liquids: 4.3 yrs – Bulk: 3.2 yrs – 1.4 yrs (b) Pricing Security – Interstate: primarily fixed based on contract – Intrastate: primarily fixed margin – PPI + 2.65% – S&T: 76% fixed – O&G: volumes 87% hedged (c) – Based on contract; typically fixed or tied to PPI – Fixed based on toll settlement Regulatory Security – Interstate: regulatory return mitigates downside; may receive higher recourse rates for increased costs – Intrastate: essentially market-based – Pipeline: regulatory return mitigates downside – Terminals & transmix: not price regulated (d) – Primarily unregulated – Not price regulated – Regulatory return mitigates downside Commodity Price Exposure – Interstate: no direct – Intrastate: limited – No direct – S&T: 24% tied to oil price – O&G: volumes 13% unhedged (c) – No direct – No direct Note: all figures as of beginning of year, except where noted (a) Transportation for intrastate pipelines includes term purchase and sale portfolio (b) Assumes 1-year rate settlement on Trans Mountain (c) Percent hedged of remaining 2011 expected production, includes heavier NGL components (C4+) as of November 2011 (d) Terminals are not FERC regulated, except portion of CALNEV 33

TransColorado 2 2 KMTP KMTejas KMIGT Trailblazer 2 KMLP REX REX FEP MEP KinderHawk Eagle Ford KMP Natural Gas Pipelines Segment 2011 Growth Drivers: Fayetteville Express (FEP) pipeline in- service Eagle Ford shale development (under JV with Copano, and on standalone basis) KinderHawk full year plus volume growth Storage expansions Full year of MEP expansions Long-term Growth Drivers: Natural gas is the logical fuel of choice — Cheap, abundant, domestic and clean Demand growth and shifting supply from multiple basins lead to: — Pipeline / storage expansions and extensions (e.g. Eagle Ford) — Greenfield development (e.g. FEP) — Integrated solutions (gas service, NGL lines / rail options) Optionality of deploying portions of existing footprint in different product uses Expand service offerings to customers (e.g. treating and G&P) Acquisitions Well-positioned in the Rockies, shales and in Texas NATURAL GAS PIPELINES NATURAL GAS STORAGE NATURAL GAS PROCESSING GAS TREATERS KM HEADQUARTERS ( 2 ) INDICATES NUMBER OF FACILITIES IN AREA 34

KMP Products Pipelines Segment 2011 Growth Drivers: PPI tariff escalator (PPI + 2.65 = ~6.8% (a) ) Organic volume growth Full year of 2010 acquisitions (Chevron, Shell, High Sierra) and expansion projects (Carson, Colton, KMST) Long-term Growth Drivers: RFS (b) and proliferation of product specs increase demand for storage and ancillary services — Ethanol and biodiesel growth including terminals and pipeline expansions Development of shale play liquids infrastructure — Condensate transportation and storage services from Eagle Ford — Bakken crude service on Cochin — Marcellus pipeline connection to Cochin Tariff index adjustments / organic volume growth Increased outsourcing of military fuel logistics Acquisitions Well-located with origin in refinery / port hubs and terminus in population centers (a) Starting 7/1/2011 (b) RFS (U.S. Renewable Fuels Standard) requires a two-fold increase in use of renewable fuels through 2022, from 13 Bgal/yr in 2010 to 36 Bgal/yr in 2022 35 Pacific Northern 2 Pacific CALNEV Plantation Cypress Central Florida 2 2 4 3 2 Cochin 2 2 PRODUCTS PIPELINES PRODUCTS PIPELINES TERMINALS TRANSMIX FACILITIES KM HEADQUARTERS ( 2 ) INDICATES NUMBER OF FACILITIES IN AREA

KMP Terminals Segment 2011 Growth Drivers: Increase in rates on existing contracts Higher coal and ethanol throughput Full year of 2010 acquisitions (Slay, USD, Watco) and expansion projects (Carteret and Pier IX) Partial benefit from $159 million in expected 2011 acquisitions Long-term Growth Drivers: Diversity of product specs and customer desire for optionality lead to: — Expansions and higher rates at well-located, high-connectivity terminals Two-fold increase in use of renewable fuels through 2022 (a) leads to: — Ethanol / biofuel expansion Newbuild and expansion of petcoke and export coal terminals (IMT and Houston) Expansion of rail business Acquisition of terminals from “mom and pop” owners and from majors Well-located in refinery / port hubs and inland waterways 36 (a) RFS (U.S. Renewable Fuels Standard) requires a two-fold increase in use of renewable fuels through 2022, from 13 Bgal/yr in 2010 to 36 Bgal/yr in 2022 TERMINALS KM HEADQUARTERS INDICATES NUMBER OF FACILITIES IN AREA ( 2 ) 9 5 2 3 2 4 7 3 2 4 3 4 2 2 2 3 2 2 2 2 3

KMP CO 2 Segment 2011 Growth Drivers: Current forecast 250-300 Bbl/d production increase at Katz Higher overall oil / NGL prices CO 2 S&T price increases Relatively flat production at SACROC and Yates Long-term Growth Drivers: Billions of barrels of domestic oil still in place Strong demand for CO 2 — Higher rates and better terms on new CO 2 S&T contracts — Potential expansion of CO 2 source fields / pipelines Continue buildout of SACROC / Yates / Katz — Continuing technology improvements Own and operate best source of CO 2 for EOR 37 *For asset descriptions and map see slide 6 of Appendix to 3/24/2011 Analyst Conference presentation, available on our website at www.kindermorgan.com CO 2 PIPELINES CO 2 OIL FIELDS KM HEADQUARTERS CO 2 SOURCE FIELDS CRUDE OIL PIPELINES

KMP Kinder Morgan Canada Segment Sole oil pipeline from Oilsands to West Coast / export markets 38 KM HEADQUARTERS PETROLEUM PIPELINES PETROLEUM PIPELINES TERMINALS ( 2 ) INDICATES NUMBER OF FACILITIES IN AREA Express Platte Trans Mountain Puget Sound 2 2011 Growth Drivers: New toll settlement pending on Trans Mountain pipeline (TMPL) Long-term Growth Drivers: Expand Oilsands export capacity to West Coast and China — TMPL is lowest-cost option with ability to do staged expansions, or one large expansion Expanded dock capabilities (Vancouver) Merchant terminal opportunities on West Coast Bakken opportunities on Platte pipeline