KINDER MORGAN, INC.

(KMI)
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Delayed Nyse  -  04:00 2022-06-30 pm EDT
16.76 USD   -0.95%
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Kinder Morgan : May 2022 Investor Presentation

05/05/2022 | 07:19am EDT

MAY 2022 INVESTOR PRESENTATION

Altamont gathering right-of-way, Granite Park, Utah

Disclosure

Forward-looking statements / non-GAAP financial measures / industry & market data

General - The information contained in this presentation does not purport to be all-inclusive or to contain all information that prospective investors may require. Prospective investors are encouraged to conduct their own analysis and review of information contained in this presentation as well as important additional information through the Securities and Exchange Commission's ("SEC") EDGAR system at www.sec.govand on our website at www.kindermorgan.com.

Policies and Procedures -This presentation includes descriptions of our vision, mission and values and various policies, standards, procedures, processes, systems, programs, initiatives, assessments, technologies, practices, and similar measures related to our operations and compliance systems ("Policies and Procedures"). References to Policies and Procedures in this presentation do not represent guarantees or promises about their efficacy, or any assurance that such measures will apply in every case, as there may be exigent circumstances, factors, or considerations that may cause implementation of other measures or exceptions in specific instances.

Forward-Looking Statements - This presentation includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934 ("Exchange Act"). Forward-looking statements include any statement that does not relate strictly to historical or current facts and include statements accompanied by or using words such as "anticipate," "believe," "intend," "plan," "projection," "forecast," "strategy," "outlook," "continue," "estimate," "expect," "may," "will," "shall," and "long-term". In particular, statements, express or implied, concerning future actions, conditions or events, including our Policies and Procedures and their efficacy, long term demand for our assets and services, energy-transition related opportunities, including opportunities related to alternative energy sources, future operating results or the ability to generate revenues, income or cash flow or to pay dividends are forward-looking statements. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. 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. We disclaim any obligation, other than as required by applicable law, to publicly update or revise any of our forward-looking statements to reflect future events or developments.

Future actions, conditions or events and future results of operations may differ materially from those expressed in these forward-looking statements. Many of the factors that will determine these results are beyond our ability to control or predict. These statements are necessarily based upon various assumptions involving judgments with respect to the future, including, among others; commodity prices, including prices for Renewable Identification Numbers under the U.S. Environmental Protection Agency's Renewable Fuel Standard Program; the timing and extent of changes in the supply of and demand for the products we transport and handle; national, international, regional and local economic, competitive, political and regulatory conditions and developments; the timing and success of business development efforts; the timing, cost, and success of expansion projects; technological developments; the condition of capital and credit markets; inflation rates; interest rates; the political and economic stability of oil-producing nations; energy markets; federal, state or local income tax legislation; weather conditions; environmental conditions; business, regulatory and legal decisions; terrorism; cyber-attacks; and other uncertainties. Important factors that could cause actual results to differ materially from those expressed in or implied by forward-looking statements include risks and uncertainties described in this presentation and in our Annual Report on Form 10-K for the year ended December 31, 2021 and our subsequent reports filed with the SEC (under the headings "Risk Factors," "Information Regarding Forward-Looking Statements" and elsewhere). These reports are available through the SEC's EDGAR system atwww.sec.govand on our website at www.kindermorgan.com.

GAAP - Unless otherwise stated, all historical and estimated future financial and other information included in this presentation have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP").

Non-GAAP - In addition to using financial measures prescribed by GAAP, we use non-generally accepted accounting principles ("non-GAAP") financial measures in this presentation. Descriptions of our non-GAAP financial measures, as well as reconciliations of historical non-GAAP financial measures to their most directly comparable GAAP measures, can be found in this presentation under "Non-GAAP Financial Measures and Reconciliations". These non-GAAP financial measures do not have any standardized meaning under GAAP and may not be comparable to similarly titled measures presented by other issuers. As such, they should not be considered as alternatives to GAAP financial measures.

Industry and Market Data - Certain data included in this presentation has been derived from a variety of sources, including independent industry publications, government publications and other published independent sources. Although we believe that such third-party sources are reliable, we have not independently verified, and take no responsibility for, the accuracy or completeness of such data.

Leader in North American Energy Infrastructure

Energy infrastructure, especially natural gas pipelines & storage, has a decades-long time horizon

Largest natural gas transmission network

  • - ~71,000 miles of natural gas pipelines

  • - 700 bcf of working storage capacity

  • - ~1,200 miles of natural gas liquids pipelines

BUSINESS MIX

Largest independent transporter of refined products

  • - Transport ~1.7 mmbbld of refined products

  • - ~6,800 miles of refined products pipelines

  • - ~2,700 miles of crude pipelines

Largest independent terminal operator

-

141 terminals & 16 Jones Act vessels

Largest CO2 transport capacity of ~1.5 bcfd

-

~1,500 miles of CO2 pipelines

4 bcf(a) of RNG production capacity by early 2023

62%

16%

13%

9%

Natural gas

Move ~40% of U.S. natural gas consumption & exports Delivering energy to improve lives & create a better world

ProductsTerminalsCO2

Note: Volumes per 2022 budget. Business mix based on 2022 budgeted Adjusted Segment EBDA. See Non-GAAP Financial Measures & Reconciliations. a) Annual capacity at KM share. 50% interest in Indy HBTU. 3 facilities in development are 100% owned.

Strategy

Maximize the value of our assets on behalf of shareholders

Stable, fee-based assets

Core energy infrastructure

Safe & efficient operator

Multi-year contracts ~94% take-or-pay, hedged, & fee-based cash flows(a)

Invest in a low carbon future

Established Energy Transition Ventures Group

$1.7 billion backlog with >65% allocated to low carbon investments

Investing in natural gas, RNG, and liquid biofuels infrastructure at attractive returns

Financial flexibility

4.3x 2022B expected YE Net Debt / Adjusted EBITDA

Long-term target remains around 4.5x

Low cost of capital

Mid-BBB credit ratings

Ample liquidity

Reduced net debt by over $11 billion since 1Q 2015

Disciplined capital allocation

Conservative assumptions

High return thresholds

Self-funding 100% of capex & dividends for last six years

Enhance shareholder value

Maintain strong balance sheet

Attractive investments

Dividend growth

Share repurchases

Note: See Non-GAAP Financial Measures & Reconciliations. a) Based on 2022 budgeted Adjusted Segment EBDA.

Toll Road Strategy Insulates Cash Flow Through Commodity Cycles

Structure long-term contracts that minimize price & volume volatility

Natural GasProducts

6.0 years 4.2 years generally not applicable 2.4 years

  • TX Intrastate

    G&P

    Refined products

    Crude transport

    Crude G&P

    9%

    2%2%

    Terminals

    Liquids terminals

    Jones Act tankers

    Bulk terminals

    CO2

    EOR Oil & Gas

    CO2 & Transport

    Note: Numbers may not sum due to rounding.

    See Non-GAAP Financial Measures & Reconciliations.

    6% 2% 2%

    1% 2%

    5%1%

    1%

    Primarily acreage dedications for fee-based contracts

    1%

    Pipeline tariffs are FERC-regulated ~2/3 of 2022B Products Segment Adj. Segment EBDA has an annual inflation-linked tariff escalator

    2.5 years 1.3 years

    ~3/4 of 2022B Terminals Segment Adj. Segment EBDA has annual price escalators (inflation linked or fixed price escalators)

    Bulk terminals: primarily minimum volume guarantee or requirements

    5.0 years

    2% 1%

    7.6 yearsCommodity-price based contracts are mostly minimum volume committed

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Kinder Morgan Inc. published this content on 05 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 May 2022 11:18:11 UTC.


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Financials (USD)
Sales 2022 15 765 M - -
Net income 2022 2 596 M - -
Net Debt 2022 30 856 M - -
P/E ratio 2022 14,5x
Yield 2022 6,63%
Capitalization 38 003 M 38 003 M -
EV / Sales 2022 4,37x
EV / Sales 2023 4,24x
Nbr of Employees 10 529
Free-Float 87,5%
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Mean consensus HOLD
Number of Analysts 21
Last Close Price 16,76 $
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Managers and Directors
Steven J. Kean Chief Executive Officer & Director
Kimberly Allen Dang President & Director
David Patrick Michels Vice President-Finance
Richard D. Kinder Executive Chairman
Mark E. Huse Vice President-Business Systems
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