Table of Contents

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| Kansas                                                        |    | 48-0290000                          |
|---------------------------------------------------------------|--------------|-------------------------------------|
| (State or other jurisdiction ofincorporation or organization) |    | (I.R.S. EmployerIdentification No.) |

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KINDER MORGAN, INC. AND SUBSIDIARIES

|     |                                                                                        | PageNumber |
|----------|---------------------------------------------------------------------------------------------|------------|
|     | PART I.  FINANCIAL INFORMATION                                                    |       |
|     |                                                                                        |       |
| Item 1.  | Financial Statements (Unaudited)                                                            | 3          |
|     | Consolidated Statements of Income - Three Months Ended March 31, 2010 and 2009              | 3          |
|     | Consolidated Balance Sheets – March 31, 2010 and December 31, 2009                    | 4          |
|     | Consolidated Statements of Cash Flows - Three Months Ended March 31, 2010 and 2009          | 5          |
|     | Notes to Consolidated Financial Statements                                                  | 6          |
|     |                                                                                        |       |
| Item 2.  | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 44         |
|     | General and Basis of Presentation                                                           | 44         |
|     | Critical Accounting Policies and Estimates                                                  | 44         |
|     | Results of Operations                                                                       | 45         |
|     | Financial Condition                                                                         | 56         |
|     | Recent Accounting Pronouncements                                                            | 61         |
|     | Information Regarding Forward-Looking Statements                                            | 61         |
|     |                                                                                        |       |
| Item 3.  | Quantitative and Qualitative Disclosures About Market Risk                                  | 62         |
|     |                                                                                        |       |
| Item 4.  | Controls and Procedures                                                                     | 63         |
|     |                                                                                        |       |
|     |                                                                                        |       |
|     |                                                                                        |       |
|     | PART II.  OTHER INFORMATION                                                       |       |
|     |                                                                                        |       |
| Item 1.  | Legal Proceedings                                                                           | 63         |
|     |                                                                                        |       |
| Item 1A. | Risk Factors                                                                                | 63         |
|     |                                                                                        |       |
| Item 2.  | Unregistered Sales of Equity Securities and Use of Proceeds                                 | 63         |
|     |                                                                                        |       |
| Item 3.  | Defaults Upon Senior Securities                                                             | 63         |
|     |                                                                                        |       |
| Item 4.  | (Removed and Reserved)                                                                      | 63         |
|     |                                                                                        |       |
| Item 5.  | Other Information                                                                           | 63         |
|     |                                                                                        |       |
| Item 6.  | Exhibits                                                                                    | 64         |
|     |                                                                                        |       |
|     | Signature                                                                                   | 65         |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | Three Months EndedMarch 31, |    |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 2010                                  |    |   | 2009 |   |
| Revenues                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                  |    |   |   |   |
| Natural gas sales                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | $                                     | 1,017.5 |   |   | $ | 888.7 |   |
| Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                  | 738.5   |   |   |   | 661.4 |   |
| Product sales and other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                  | 401.6   |   |   |   | 278.8 |   |
| Total Revenues                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                  | 2,157.6 |   |   |   | 1,828.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                  |    |   |   |   |   |   |
| Operating Costs, Expenses and Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                  |    |   |   |   |   |   |
| Gas purchases and other costs of sales                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                  | 1,016.6 |   |   |   | 865.6 |   |
| Operations and maintenance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                  | 454.5   |   |   |   | 256.4 |   |
| Depreciation, depletion and amortization                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                  | 282.3   |   |   |   | 264.8 |   |
| General and administrative                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                  | 115.7   |   |   |   | 92.9 |   |
| Taxes, other than income taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                  | 45.4    |   |   |   | 39.0 |   |
| Other expense (income)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                  | (1.3    | ) |   |   | 0.3 |   |
| Total Operating Costs, Expenses and Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                                  | 1,913.2 |   |   |   | 1,519.0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                  |    |   |   |   |   |   |
| Operating Income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                  | 244.4   |   |   |   | 309.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                  |    |   |   |   |   |   |
| Other Income (Expense)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                  |    |   |   |   |   |   |
| Earnings (loss) from equity investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                  | (374.2  | ) |   |   | 48.6 |   |
| Amortization of excess cost of equity investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                  | (1.4    | ) |   |   | (1.4 | ) |
| Interest, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                  | (150.6  | ) |   |   | (142.0 | ) |
| Other, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                  | 6.6     |   |   |   | 10.6 |   |
| Total Other Income (Expense)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  | (519.6  | ) |   |   | (84.2 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                  |    |   |   |   |   |   |
| Income (Loss) from Continuing Operations Before Income Taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  | (275.2  | ) |   |   | 225.7 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                  |    |   |   |   |   |   |
| Income Taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  | 95.5    |   |   |   | (80.6 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                  |    |   |   |   |   |   |
| Income (Loss) from Continuing Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                  | (179.7  | ) |   |   | 145.1 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                  |    |   |   |   |   |   |
| Loss from Discontinued Operations, net of tax                                                                                                |   |                                  | (0.2    | ) |   |   | (0.2 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                  |    |   |   |   |   |   |
| Net Income (Loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                  | (179.9  | ) |   |   | 144.9 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                  |    |   |   |   |   |   |
| Net Loss (Income) Attributable to Noncontrolling Interests                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                  | 19.0    |   |   |   | (29.6 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                  |    |   |   |   |   |   |
| Net Income (Loss) Attributable to Kinder Morgan, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | $                                     | (160.9  | ) |   | $ | 115.3 |   |

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|                                                                                                    |   | March 31,2010 |     |   | December 31,2009 |   |
|---------------------------------------------------------------------------------------------------------|--------|---------------|----------|--------|------------------|--------|
|                                                                                                    |   | (Unaudited)   |     |   |             |   |
| ASSETS                                                                                                  |   |          |     |   |             |   |
| Current assets                                                                                          |   |          |     |   |             |   |
| Cash and cash equivalents                                                                               |   | $             | 137.1    |   |             | $      | 165.6 |   |
| Restricted deposits                                                                                     |   |          | 35.1     |   |             |   | 52.5 |   |
| Accounts, notes and interest receivable, net                                                            |   |          | 835.0    |   |             |   | 921.6 |   |
| Inventories                                                                                             |   |          | 79.6     |   |             |   | 71.9 |   |
| Gas in underground storage                                                                              |   |          | 51.9     |   |             |   | 43.5 |   |
| Fair value of derivative contracts                                                                      |   |          | 58.6     |   |             |   | 20.8 |   |
| Other current assets                                                                                    |   |          | 50.2     |   |             |   | 109.7 |   |
| Total current assets                                                                                    |   |          | 1,247.5  |   |             |   | 1,385.6 |   |
|                                                                                                    |   |          |     |   |             |   |   |   |
| Property, plant and equipment, net                                                                      |   |          | 16,949.4 |   |             |   | 16,803.5 |   |
| Investments                                                                                             |   |          | 3,340.7  |   |             |   | 3,695.6 |   |
| Notes receivable                                                                                        |   |          | 194.3    |   |             |   | 190.6 |   |
| Goodwill                                                                                                |   |          | 4,813.6  |   |             |   | 4,744.3 |   |
| Other intangibles, net                                                                                  |   |          | 369.0    |   |             |   | 259.8 |   |
| Fair value of derivative contracts                                                                      |   |          | 312.1    |   |             |   | 293.3 |   |
| Deferred charges and other assets                                                                       |   |          | 161.4    |   |             |   | 213.6 |   |
| Total Assets                                                                                            |   | $             | 27,388.0 |   |             | $      | 27,586.3 |   |
|                                                                                                    |   |          |     |   |             |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY                                                              |   |          |     |   |             |   |   |   |
| Current liabilities                                                                                     |   |          |     |   |             |   |   |   |
| Current portion of debt                                                                                 |   | $             | 2,599.9  |   |             | $      | 768.7 |   |
| Cash book overdrafts                                                                                    |   |          | 48.1     |   |             |   | 36.6 |   |
| Accounts payable                                                                                        |   |          | 591.3    |   |             |   | 620.8 |   |
| Accrued interest                                                                                        |   |          | 124.2    |   |             |   | 292.1 |   |
| Accrued taxes                                                                                           |   |          | 100.3    |   |             |   | 58.6 |   |
| Deferred revenues                                                                                       |   |          | 86.9     |   |             |   | 76.1 |   |
| Fair value of derivative contracts                                                                      |   |          | 278.2    |   |             |   | 272.0 |   |
| Accrued other current liabilities                                                                       |   |          | 172.8    |   |             |   | 194.6 |   |
| Total current liabilities                                                                               |   |          | 4,001.7  |   |             |   | 2,319.5 |   |
|                                                                                                    |   |          |     |   |             |   |   |   |
| Long-term liabilities and deferred credits                                                              |   |          |     |   |             |   |   |   |
| Long-term debt                                                                                          |   |          |     |   |             |   |   |   |
| Outstanding                                                                                             |   |          | 11,306.5 |   |             |   | 12,779.7 |   |
| Preferred interest in general partner of Kinder Morgan Energy Partners, L.P.                            |   |          | 100.0    |   |             |   | 100.0 |   |
| Value of interest rate swaps                                                                            |   |          | 422.2    |   |             |   | 361.0 |   |
| Total long-term debt                                                                                    |   |          | 11,828.7 |   |             |   | 13,240.7 |   |
| Deferred income taxes                                                                                   |   |          | 1,918.0  |   |             |   | 2,039.9 |   |
| Fair value of derivative contracts                                                                      |   |          | 380.4    |   |             |   | 469.6 |   |
| Other long-term liabilities and deferred credits                                                        |   |          | 811.1    |   |             |   | 670.5 |   |
| Total long-term liabilities and deferred credits                                                        |   |          | 14,938.2 |   |             |   | 16,420.7 |   |
|                                                                                                    |   |          |     |   |             |   |   |   |
| Total Liabilities                                                                                       |   |          | 18,939.9 |   |             |   | 18,740.2 |   |
|                                                                                                    |   |          |     |   |             |   |   |   |
| Commitments and contingencies (Notes 4 and 11)                                                          |   |          |     |   |             |   |   |   |
| Stockholders’ Equity                                                                              |   |          |     |   |             |   |   |   |
| Common stock – authorized and outstanding – 100 shares, par value $0.01 per share |   |          | -        |   |             |   | - |   |
| Additional paid-in capital                                                                              |   |          | 7,849.7  |   |             |   | 7,845.7 |   |
| Retained deficit                                                                                        |   |          | (3,817.2 | )      |             |   | (3,506.3 | ) |
| Accumulated other comprehensive loss                                                                    |   |          | (130.9   | )      |             |   | (167.9 | ) |
| Total Kinder Morgan, Inc. stockholder’s equity                                                    |   |          | 3,901.6  |   |             |   | 4,171.5 |   |
| Noncontrolling interests                                                                                |   |          | 4,546.5  |   |             |   | 4,674.6 |   |
| Total Stockholders’ Equity                                                                        |   |          | 8,448.1  |   |             |   | 8,846.1 |   |
| Total Liabilities and Stockholders’ Equity                                                        |   | $             | 27,388.0 |   |             | $      | 27,586.3 |   |

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|                                                                                                                                                                     |   | Three Months Ended March 31, |    |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------|---------|
|                                                                                                                                                                     |   | 2010                                             |    |   | 2009 |   |
| Cash Flows From Operating Activities                                                                                                                                     |   |                                             |    |   |   |   |
| Net Income (Loss)                                                                                                                                                        |   | $                                                | (179.9  | ) |   | $ | 144.9 |   |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities                                                                                  |   |                                             |    |   |   |   |   |   |
| Loss from discontinued operations, net of tax                                                                                                                            |   |                                             | 0.2     |   |   |   | 0.2 |   |
| Depreciation, depletion and amortization                                                                                                                                 |   |                                             | 282.3   |   |   |   | 264.8 |   |
| Deferred income taxes                                                                                                                                                    |   |                                             | (156.6  | ) |   |   | 17.0 |   |
| Amortization of excess cost of equity investments                                                                                                                        |   |                                             | 1.4     |   |   |   | 1.4 |   |
| Income from the allowance for equity funds used during construction                                                                                                      |   |                                             | (0.5    | ) |   |   | (9.3 | ) |
| (Income) loss from the sale or casualty of property, plant and equipment and other net assets |   |                                             | (1.3    | ) |   |   | 0.4 |   |
| (Earnings) loss from equity investments                                                                                                                                  |   |                                             | 374.2   |   |   |   | (48.6 | ) |
| Distributions from equity investments                                                                                                                                    |   |                                             | 49.8    |   |   |   | 60.0 |   |
| Proceeds from termination of interest rate swap agreements                                                                                                               |   |                                             | -       |   |   |   | 144.4 |   |
| Changes in components of working capital                                                                                                                                 |   |                                             |    |   |   |   |   |   |
| Accounts receivable                                                                                                                                                      |   |                                             | 53.3    |   |   |   | 199.6 |   |
| Inventories                                                                                                                                                              |   |                                             | (7.5    | ) |   |   | (4.3 | ) |
| Other current assets                                                                                                                                                     |   |                                             | 36.2    |   |   |   | 5.3 |   |
| Accounts payable                                                                                                                                                         |   |                                             | (8.3    | ) |   |   | (246.2 | ) |
| Accrued interest                                                                                                                                                         |   |                                             | (167.8  | ) |   |   | (126.5 | ) |
| Accrued taxes                                                                                                                                                            |   |                                             | 77.3    |   |   |   | (52.9 | ) |
| Accrued liabilities                                                                                                                                                      |   |                                             | (41.3   | ) |   |   | (101.1 | ) |
| Rate reparations, refunds and other litigation reserve adjustments                                                                                                       |   |                                             | 158.0   |   |   |   | - |   |
| Other, net                                                                                                                                                               |   |                                             | (30.6   | ) |   |   | (35.5 | ) |
| Cash flows provided by continuing operations                                                                                                                             |   |                                             | 438.9   |   |   |   | 213.6 |   |
| Net cash flows used in discontinued operations                                                                                                                           |   |                                             | (0.2    | ) |   |   | (0.3 | ) |
| Net Cash Provided by Operating Activities                                                                                                                                |   |                                             | 438.7   |   |   |   | 213.3 |   |
|                                                                                                                                                                     |   |                                             |    |   |   |   |   |   |
| Cash Flows From Investing Activities                                                                                                                                     |   |                                             |    |   |   |   |   |   |
| Acquisitions of assets and investments                                                                                                                                   |   |                                             | (226.3  | ) |   |   | (0.5 | ) |
| Repayments from customers                                                                                                                                                |   |                                             | -       |   |   |   | 98.1 |   |
| Capital expenditures                                                                                                                                                     |   |                                             | (223.8  | ) |   |   | (417.6 | ) |
| Deconsolidation of variable interest entity due to the implementation of ASU 2009-17 (Note 13)          |   |                                             | (17.5   | ) |   |   | - |   |
| Sale or casualty of property, plant and equipment, and other net assets net of removal costs                                                                             |   |                                             | 13.4    |   |   |   | (0.8 | ) |
| Net proceeds from (investments in) margin deposits                                                                                                                       |   |                                             | 15.9    |   |   |   | (5.8 | ) |
| Proceeds from restricted deposits                                                                                                                                        |   |                                             | 2.1     |   |   |   | - |   |
| Contributions to investments                                                                                                                                             |   |                                             | (136.0  | ) |   |   | (174.2 | ) |
| Distributions from equity investments in excess of cumulative earnings                                                                                                   |   |                                             | 73.9    |   |   |   | - |   |
| Net Cash Used in Investing Activities                                                                                                                                    |   |                                             | (498.3  | ) |   |   | (500.8 | ) |
|                                                                                                                                                                     |   |                                             |    |   |   |   |   |   |
| Cash Flows From Financing Activities                                                                                                                                     |   |                                             |    |   |   |   |   |   |
| Issuance of debt                                                                                                                                                         |   |                                             | 1,189.5 |   |   |   | 1,268.0 |   |
| Payment of debt                                                                                                                                                          |   |                                             | (814.9  | ) |   |   | (1,048.0 | ) |
| Repayments from related party                                                                                                                                            |   |                                             | -       |   |   |   | 1.2 |   |
| Debt issue costs                                                                                                                                                         |   |                                             | (0.8    | ) |   |   | (1.5 | ) |
| Increase (decrease) in cash book overdrafts                                                                                                                              |   |                                             | 11.5    |   |   |   | (3.3 | ) |
| Cash dividends                                                                                                                                                           |   |                                             | (150.0  | ) |   |   | (50.0 | ) |
| Contributions from noncontrolling interests                                                                                                                              |   |                                             | -       |   |   |   | 287.9 |   |
| Distributions to noncontrolling interests                                                                                                                                |   |                                             | (200.8  | ) |   |   | (175.8 | ) |
| Other, net                                                                                                                                                               |   |                                             | -       |   |   |   | 1.8 |   |
| Net Cash Provided by Financing Activities                                                                                                                                |   |                                             | 34.5    |   |   |   | 280.3 |   |
|                                                                                                                                                                     |   |                                             |    |   |   |   |   |   |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents                                                                                                             |   |                                             | (3.4    | ) |   |   | (0.9 | ) |
|                                                                                                                                                                     |   |                                             |    |   |   |   |   |   |
| Decrease in Cash and Cash Equivalents                                                                                                                                    |   |                                             | (28.5   | ) |   |   | (8.1 | ) |
| Cash and Cash Equivalents, beginning of period                                                                                                                           |   |                                             | 165.6   |   |   |   | 118.6 |   |
| Cash and Cash Equivalents, end of period                                                                                                                                 |   | $                                                | 137.1   |   |   | $ | 110.5 |   |
|                                                                                                                                                                     |   |                                             |    |   |   |   |   |   |
| Noncash Investing and Financing Activities                                                                                                                               |   |                                             |    |   |   |   |   |   |
| Assets acquired by the assumption or incurrence of liabilities                                                                                                           |   | $                                                | 10.5    |   |   | $ | - |   |
| Assets acquired by contributions from noncontrolling interests                                                                                                           |   | $                                                | 81.7    |   |   | $ | - |   |
| Supplemental Disclosures of Cash Flow Information                                                                                                                        |   |                                             |    |   |   |   |   |   |
| Cash paid during the period for interest (net of capitalized interest)                                                                                                   |   | $                                                | 286.9   |   |   | $ | 271.6 |   |
| Cash paid during the period for income taxes (net of refunds)                                                                                                            |   | $                                                | 2.2     |   |   | $ | 140.5 |   |

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|                                       |   | ProductsPipelines–KMP |     |   | Natural GasPipelines–KMP |   |     | CO2–KMP |   |   | Terminals–KMP |   |   | KinderMorganCanada–KMP |    |   | Total  |   |
|--------------------------------------------|--------|-----------------------------|----------|--------|-------------------------------------|--------|----------|---------------|--------|--------|---------------------|--------|--------|------------------------------|---------|--------|--------|--------|
| Goodwill                                   |   | $                           | 2,116.5  |   |                                | $      | 3,488.0  |          |   | $      | 1,521.7             |   |   | $                            | 1,415.4 |   |   | $      | 613.1 |   |   | $ | 9,154.7 |   |
| Accumulated impairment losses.             |   |                        | (1,266.5 | )      |                                |   | (2,090.2 | )             |   |   | -                   |   |   |                         | (676.6  | )      |   |   | (377.1 | ) |   |   | (4,410.4 | ) |
| Balance as of December 31, 2009            |   |                        | 850.0    |   |                                |   | 1,397.8  |          |   |   | 1,521.7             |   |   |                         | 738.8   |   |   |   | 236.0 |   |   |   | 4,744.3 |   |
| Acquisitions and adjustments               |   |                        | -        |   |                                |   | -        |          |   |   | -                   |   |   |                         | 61.2    |   |   |   | - |   |   |   | 61.2 |   |
| Currency translation adjustments |   |                        | -        |   |                                |   | -        |          |   |   | -                   |   |   |                         | -       |   |   |   | 8.1 |   |   |   | 8.1 |   |
| Balance as of March 31, 2010               |   | $                           | 850.0    |   |                                | $      | 1,397.8  |          |   | $      | 1,521.7             |   |   | $                            | 800.0   |   |   | $      | 244.1 |   |   | $ | 4,813.6 |   |

|                                                                    |   | March 31,2010 |   |   | December 31,2009 |   |
|-------------------------------------------------------------------------|--------|--------------------|--------|--------|-----------------------|--------|
| Customer relationships, contracts and agreements    |   |               |   |   |                  |   |
| Gross carrying amount                                                   |   | $                  | 419.5  |   |                  | $      | 297.9 |   |
| Accumulated amortization                                                |   |               | (63.1  | )      |                  |   | (50.9 | ) |
| Net carrying amount                                                     |   |               | 356.4  |   |                  |   | 247.0 |   |
|                                                                    |   |               |   |   |                  |   |   |   |
| Technology-based assets, lease value and other |   |               |   |   |                  |   |   |   |
| Gross carrying amount                                                   |   |               | 14.1   |   |                  |   | 14.1 |   |
| Accumulated amortization                                                |   |               | (1.5   | )      |                  |   | (1.3 | ) |
| Net carrying amount                                                     |   |               | 12.6   |   |                  |   | 12.8 |   |
|                                                                    |   |               |   |   |                  |   |   |   |
| Total other intangibles, net                                            |   | $                  | 369.0  |   |                  | $      | 259.8 |   |

----

|                                        | March 31, 2010          |
|---------------------------------------------|-------------------------|
|                                        | Short-termnotes payable |   |   | Weighted-averageinterest rate |
|                                        | (In millions)           |
| Kinder Morgan, Inc. – Secured debt(a) |                    | $ | 112.6 |   |   |   | 1.49 | % |
| KMP – Unsecured debt(b)               |                    |   |   |   |   |   |   |   |
| Credit facility                             |                    | $ | 675.0 |   |   |   | 0.58 | % |
| Commercial paper                            |                    | $ | 65.0 |   |   |   | 0.49 | % |

| (a) | The average short-term debt outstanding (and related weighted-average interest rate) was $172.1 million (1.78%) during the three months ended March 31, 2010. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | The average short-term debt outstanding (and related weighted-average interest rate) was $515.2 million (0.63%) during the three months ended March 31, 2010. |

----

----

----

----

----

|                                                                                                 |   | Three Months Ended March 31, |    |
|------------------------------------------------------------------------------------------------------|--------|------------------------------|---------|
|                                                                                                 |   | 2010                         |    |   | 2009 |   |
|                                                                                                 |   | KinderMorgan, Inc.      |    |   | Noncontrollinginterests |   |   | Total |   |   | KinderMorgan, Inc. |   |   | Noncontrollinginterests |   |   | Total |   |
| Beginning Balance                                                                                    |   | $                            | 4,171.5 |   |   | $ | 4,674.6 |   |   | $ | 8,846.1 |   |   | $ | 4,404.3 |   |   | $ | 4,072.6 |   |   | $ | 8,476.9 |   |
| Impact from equity transactions of KMP                                      |   |                         | 2.1     |   |   |   | (3.4 | ) |   |   | (1.3 | ) |   |   | 6.5 |   |   |   | (10.1 | ) |   |   | (3.6 | ) |
| A-1 and B unit amortization                                                                          |   |                         | 1.9     |   |   |   | - |   |   |   | 1.9 |   |   |   | 1.9 |   |   |   | - |   |   |   | 1.9 |   |
| Distributions to noncontrolling interests                                                            |   |                         | -       |   |   |   | (200.8 | ) |   |   | (200.8 | ) |   |   | - |   |   |   | (176.3 | ) |   |   | (176.3 | ) |
| Contributions from noncontrolling interests                                           |   |                         | -       |   |   |   | 81.7 |   |   |   | 81.7 |   |   |   | - |   |   |   | 287.9 |   |   |   | 287.9 |   |
| Implementation of Accounting Standards Update 2009-17(a)                              |   |                         | -       |   |   |   | (45.9 | ) |   |   | (45.9 | ) |   |   | - |   |   |   | - |   |   |   | - |   |
| Cash dividends                                                                                       |   |                         | (150.0  | ) |   |   | - |   |   |   | (150.0 | ) |   |   | (50.0 | ) |   |   | - |   |   |   | (50.0 | ) |
| Other                                                                                                |   |                         | -       |   |   |   | 0.1 |   |   |   | 0.1 |   |   |   | - |   |   |   | 2.7 |   |   |   | 2.7 |   |
| Comprehensive income                                                                                 |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income (loss)                                                                                    |   |                         | (160.9  | ) |   |   | (19.0 | ) |   |   | (179.9 | ) |   |   | 115.3 |   |   |   | 29.6 |   |   |   | 144.9 |   |
| Other comprehensive income (loss), net of tax                                              |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Change in fair value of derivatives utilized for hedging purposes                                    |   |                         | 15.6    |   |   |   | 11.3 |   |   |   | 26.9 |   |   |   | 15.9 |   |   |   | 17.5 |   |   |   | 33.4 |   |
| Reclassification of change in fair value of derivatives to net income       |   |                         | 4.1     |   |   |   | 21.7 |   |   |   | 25.8 |   |   |   | (20.5 | ) |   |   | (8.4 | ) |   |   | (28.9 | ) |
| Foreign currency translation adjustments                                                             |   |                         | 18.1    |   |   |   | 27.3 |   |   |   | 45.4 |   |   |   | (21.2 | ) |   |   | (26.7 | ) |   |   | (47.9 | ) |
| Adjustments to pension and other postretirement benefit plan liabilities              |   |                         | (0.8    | ) |   |   | (1.1 | ) |   |   | (1.9 | ) |   |   | (0.9 | ) |   |   | (1.4 | ) |   |   | (2.3 | ) |
| Total other comprehensive income (loss)                                                              |   |                         | 37.0    |   |   |   | 59.2 |   |   |   | 96.2 |   |   |   | (26.7 | ) |   |   | (19.0 | ) |   |   | (45.7 | ) |
| Total comprehensive income (loss)                                                                    |   |                         | (123.9  | ) |   |   | 40.2 |   |   |   | (83.7 | ) |   |   | 88.6 |   |   |   | 10.6 |   |   |   | 99.2 |   |
| Ending Balance                                                                                       |   | $                            | 3,901.6 |   |   | $ | 4,546.5 |   |   | $ | 8,448.1 |   |   | $ | 4,451.3 |   |   | $ | 4,187.4 |   |   | $ | 8,638.7 |   |
|                                                                                                 |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (Tax Expense) Tax Benefit Included in Other Comprehensive Income:                                    |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Change in fair value of derivatives utilized for hedging purposes |   | $                            | (10.3   | ) |   | $ | (1.2 | ) |   | $ | (11.5 | ) |   | $ | (10.2 | ) |   | $ | (1.6 | ) |   | $ | (11.8 | ) |
| Reclassification of change in fair value of derivatives to net income                                |   |                         | (2.8    | ) |   |   | (2.3 | ) |   |   | (5.1 | ) |   |   | 13.2 |   |   |   | 0.7 |   |   |   | 13.9 |   |
| Foreign currency translation adjustments                                                             |   |                         | (12.6   | ) |   |   | (2.9 | ) |   |   | (15.5 | ) |   |   | 12.6 |   |   |   | 2.4 |   |   |   | 15.0 |   |
| Adjustments to pension and other postretirement benefit plan liabilities                   |   |                         | 0.6     |   |   |   | 0.1 |   |   |   | 0.7 |   |   |   | 0.7 |   |   |   | 0.2 |   |   |   | 0.9 |   |
| Tax included in total other comprehensive income                            |   | $                            | (25.1   | ) |   | $ | (6.3 | ) |   | $ | (31.4 | ) |   | $ | 16.3 |   |   | $ | 1.7 |   |   | $ | 18.0 |   |

| (a) | Upon the adoption of Accounting Standards Update No. 2009-17, which amended the codification’s “Consolidation” topic, on January 1, 2010, Triton Power Company LLC is no longer consolidated into our financial statements, but is treated as an equity investment (see Note 13). |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                        |   | March 31,2010 |    |   | December 31,2009 |   |
|-----------------------------|--------|---------------|---------|--------|------------------|--------|
| KMP                         |   | $             | 2,657.2 |   |             | $      | 2,746.4 |   |
| KMR                         |   |          | 1,878.2 |   |             |   | 1,870.7 |   |
| Triton Power Company LLC(a) |   |          | -       |   |             |   | 45.9 |   |
| Other                       |   |          | 11.1    |   |             |   | 11.6 |   |
|                        |   | $             | 4,546.5 |   |             | $      | 4,674.6 |   |

| (a) | Upon the adoption of Accounting Standards Update No. 2009-17, which amended the codification’s “Consolidation” topic, on January 1, 2010, Triton Power Company LLC is no longer consolidated into our financial statements, but is treated as an equity investment (see Note 13). |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                            | Notional quantity       |
|-------------------------------------------------|-------------------------|
| Derivatives designated as hedging contracts     |                    |
| Crude oil                                       | 23.9 million barrels    |
| Natural gas(a)                                  | 69.8 billion cubic feet |
| Derivatives not designated as hedging contracts |                    |
| Natural gas(a)                                  | 0.1 billion cubic feet  |

| (a) | Notional quantities are shown net. |
|-----|------------------------------------|

----

|                                                                     | Asset derivatives          |   |                        | Liability derivatives |
|--------------------------------------------------------------------------|----------------------------|--------|-----------------------------|-----------------------|
|                                                                     | March 31, 2010   |   | December 31, 2009 |                  |   | March 31, 2010 |   | December 31, 2009 |
|                                                                     | Balance sheetlocation |   | Fairvalue                   |                  | Balance sheetlocation |   | Fairvalue |   |   | Balance sheetlocation |   | Fairvalue |   | Balance sheetlocation |   | Fairvalue |
|                                                                     |                       |   |                        |                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Derivatives designated as hedging contracts          |                       |   |                        |                  |   |   |   |   |   |   |   |
| Energy commodity derivative contracts                                    | Current                    |   | $                           | 52.6                  |   | Current |   | $ | 19.1 |   |   | Current |   | $ | (273.1) |   | Current |   | $ | (270.8) |
|                                                                     | Non-current                |   |                        | 53.6                  |   | Non-current |   |   | 57.3 |   |   | Non-current |   |   | (190.4) |   | Non-current |   |   | (241.5) |
| Subtotal                                                                 |                       |   |                        | 106.2                 |   |   |   |   | 76.4 |   |   |   |   |   | (463.5) |   |   |   |   | (512.3) |
|                                                                     |                       |   |                        |                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest rate swap agreements                                            | Non-current                |   |                        | 258.4                 |   | Non-current |   |   | 236.0 |   |   | Non-current |   |   | (174.0) |   | Non-current |   |   | (218.5) |
| Cross currency swap agreements                                           | Non-current                |   |                        | -                     |   | Non-current |   |   | - |   |   | Non-current |   |   | (15.1) |   | Non-current |   |   | (9.6) |
| Total                                                                    |                       |   |                        | 364.6                 |   |   |   |   | 312.4 |   |   |   |   |   | (652.6) |   |   |   |   | (740.4) |
|                                                                     |                       |   |                        |                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Derivatives not designated as hedging contracts |                       |   |                        |                  |   |   |   |   |   |   |   |
| Energy commodity derivative contracts                                    | Current                    |   |                        | 6.0                   |   | Current |   |   | 1.7 |   |   | Current |   |   | (5.1) |   | Current |   |   | (1.2) |
|                                                                     | Non-current                |   |                        | 0.1                   |   | Non-current |   |   | - |   |   | Non-current |   |   | (0.9) |   | Non-current |   |   | - |
|                                                                     |                       |   |                        | 6.1                   |   |   |   |   | 1.7 |   |   |   |   |   | (6.0) |   |   |   |   | (1.2) |
| Total derivatives                                                        |                       |   | $                           | 370.7                 |   |   |   | $ | 314.1 |   |   |   |   | $ | (658.6) |   |   |   | $ | (741.6) |

----

| Derivatives infair valuehedgingrelationships |   | Location ofgain/(loss)recognized inincome onderivative |   | Amount of gain/(loss)recognized in incomeon derivative(a) |   |   | Hedged items infair valuehedgingrelationships |    | Location ofgain/(loss)recognized inincome on relatedhedged item |   | Amount of gain/(loss)recognized in income onrelated hedged items(a) |
|--------------------------------------------------------|--------|-----------------------------------------------------------------------|--------|------------------------------------------------------------------------------------|--------|--------|--------------------------------------------------------------|---------|------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------|
|                                                   |   |                                                                  |   | Three Months EndedMarch 31,                                              |   |   |                                                         |    |                                                                                     |   | Three Months EndedMarch 31,                                                                            |
|                                                   |   |                                                                  |   | 2010                                                                               |   | 2009   |                                                         |    |                                                                                     |   |                                                                                                   |   | 2010 |   | 2009 |
| Interest rate swap agreements                |   | Interest, net – income/(expense)                      |   | $                                                                                  | 66.9   |   | $                                                            | (130.4) |                                                                                     |   | Fixed rate debt                                                                                        |   | Interest, net – income/(expense) |   | $ | (66.9) |   | $ | 130.4 |
| Total                                                  |   |                                                                  |   | $                                                                                  | 66.9   |   | $                                                            | (130.4) |                                                                                     |   | Total                                                                                                  |   |   |   | $ | (66.9) |   | $ | 130.4 |

| (a) | Amounts reflect the change in the fair value of interest rate swap agreements and the change in the fair value of the associated fixed rate debt which exactly offset each other as a result of no hedge ineffectiveness.  Amounts do not reflect the impact on interest expense from the interest rate swap agreements under which we pay variable rate interest and receive fixed rate interest. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|     Derivatives in    cash flow hedgingrelationships | Amount of gain/(loss) recognized in OCI onderivative (effectiveportion) |   | Location ofgain/(loss)reclassified from  Accumulated OCI  into income(effective portion) |   Amount of gain/(loss) reclassified fromAccumulated OCIinto income(effective portion) |   | Location ofgain/(loss)recognized inincome onderivative(ineffective portionand amountexcluded fromeffectivenesstesting) | Amount of gain/(loss) recognized in incomeon derivative(ineffective portionand amountexcluded fromeffectiveness testing |   |
|-------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                        | Three Months EndedMarch 31,                                                                                |   |                                                                                                                                  | Three Months EndedMarch 31,                                                                                                         |   |                                                                                                                                                 | Three Months EndedMarch 31,                                                                                                                                               |   |
|                                                                                                        | 2010                                                                                                       |   | 2009                                                                                                                                  |                                                                                                                                |   | 2010                                                                                                                                                 |                                                                                                                                                                      | 2009   |   |   | 2010 |   | 2009 |   |
| Energy commodity derivative contracts                                                             |                                                                                                       | $      | 15.6                                                                                                                                  |                                                                                                                                |   | $                                                                                                                                                    | 15.9                                                                                                                                                                      |   | Revenues-natural gas sales |   | $ | - |   |   | $ | 0.5 |   | Revenues |   | $ | 5.4 |   |   | $ | - |   |
|                                                                                                        |                                                                                                       |   |                                                                                                                                  |                                                                                                                                |   |                                                                                                                                                 |                                                                                                                                                                      |   | Revenues-product sales and other |   |   | (4.2 | ) |   |   | 20.1 |   |   |   |   |   |   |   |   | - |   |
|                                                                                                        |                                                                                                       |   |                                                                                                                                  |                                                                                                                                |   |                                                                                                                                                 |                                                                                                                                                                      |   | Gas purchases and other costs of sales |   |   | 0.1 |   |   |   | (0.1 | ) | Gas purchases and other costs of sales |   |   | 0.9 |   |   |   | - |   |
| Total                                                                                                       |                                                                                                       | $      | 15.6                                                                                                                                  |                                                                                                                                |   | $                                                                                                                                                    | 15.9                                                                                                                                                                      |   | Total |   | $ | (4.1 | ) |   | $ | 20.5 |   | Total |   | $ | 6.3 |   |   | $ | - |   |

|       Derivatives in       net investment   hedging   relationships |   | Amount of gain/(loss) recognized in OCI onderivative (effectiveportion) |   | Location ofgain/(loss)reclassified from  Accumulated OCI  into income(effective portion |   | Amount of gain/(loss) reclassified fromAccumulated OCIinto income(effective portion) |   | Location ofgain/(loss)recognized inincome onderivative(ineffective portionand amountexcluded fromeffectivenesstesting) |       | Amount of gain/(loss) recognized in incomeon derivative(ineffective portionand amountexcluded fromeffectiveness testing |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------|------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                          |   | Three Months EndedMarch 31,                                                                 |   |                                                                                                                                 |   | Three Months EndedMarch 31,                                                                              |   |                                                                                                                                                 |       | Three Months EndedMarch 31,                                                                                                                                |   |
|                                                                                                                                                          |   | 2010                                                                                                       |   |                                                                                                                                 | 2009   |                                                                                                                    |   |                                                                                                                                                 | 2010       |                                                                                                                                                                      |   | 2009 |   |   |   | 2010 |   |   | 2009 |   |
| Cross currency swap agreements                                                                                                                      |   | $                                                                                                          | (5.5   | )                                                                                                                                    |   | $                                                                                                                       | (6.0   | )                                                                                                                                                    | Other, net |                                                                                                                                                                      | $      | - |   |   | $ | - |   | Revenues |   | $ | - |   |   | $ | - |   |
| Total                                                                                                                                                         |   | $                                                                                                          | (5.5   | )                                                                                                                                    |   | $                                                                                                                       | (6.0   | )                                                                                                                                                    | Total      |                                                                                                                                                                      | $      | - |   |   | $ | - |   | Total |   | $ | - |   |   | $ | - |   |

| Derivatives not designatedas hedging contracts  |   | Location of gain/(loss) recognizedin income on derivative |   | Amount of gain/(loss) recognizedin income on derivative |
|--------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------|
|                                                                     |   |                                                                                    |   | Three Months EndedMarch 31,                                                           |
|                                                                     |   |                                                                                    |   | 2010                                                                                  |   | 2009 |
| Energy commodity derivative contracts                     |   | Gas purchases and other costs of sales                    |   | $                                                                                     | 0.7 |   | $ | (0.4) |
| Total                                                                    |   |                                                                                    |   | $                                                                                     | 0.7 |   | $ | (0.4) |

----

|                                  |   | Asset position |   |
|---------------------------------------|--------|---------------------|--------|
| Interest rate swap agreements         |   | $                   | 258.4  |   |
| Energy commodity derivative contracts |   |                | 112.3  |   |
| Gross exposure                        |   |                | 370.7  |   |
| Netting agreement impact              |   |                | (76.8  | ) |
| Net exposure                          |   | $                   | 293.9  |   |

----

| Credit ratings downgraded(a)                                                     |   | Incrementalobligations |   | Cumulativeobligations(b) |
|----------------------------------------------------------------------------------|--------|------------------------|--------|--------------------------|
| One notch to BBB-/Baa3                                                           |   | $                      | 19.0   |                     |   | $ | 44.5 |   |
|                                                                             |   |                   |   |                     |   |   |   |   |
| Two notches to below BBB-/Baa3 (below investment grade) |   | $                      | 115.2  |                     |   | $ | 159.7 |   |

| (a) | If there are split ratings among the independent credit rating agencies, most counterparties use the higher credit rating to determine our incremental collateral obligations, while the remaining use the lower credit rating.  Therefore, a one notch downgrade to BBB-/Baa3 by one agency would not trigger the entire $19.0 million incremental obligation. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | Includes current posting at current rating.                                                                                                                                                                                                                                                                                                                               |

|   | ▪ | Level 1 Inputs—quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date; |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | Level 2 Inputs—inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.  If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability; and |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | Level 3 Inputs—unobservable inputs for the asset or liability.  These unobservable inputs reflect the entity’s own assumptions about the assumptions that market participants would use in pricing the asset or liability, and are developed based on the best information available in the circumstances (which might include the reporting entity’s own data). |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                     | Asset fair value measurements using                                                                       |
|------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------|
|                                     |           Total           |   | Quoted prices inactive marketsfor identical  assets (Level 1)   |   | Significant otherobservable  inputs (Level 2)  |   | Significantunobservable  inputs (Level 3)  |
| As of March 31, 2010                     |                                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Energy commodity derivative contracts(a) |                                                                                                                          | $ | 112.3 |   |   |   | $ | - |   |   |   | $ | 53.5 |   |   |   | $ | 58.8 |   |
| Interest rate swap agreements            |                                                                                                                          | $ | 258.4 |   |   |   | $ | - |   |   |   | $ | 258.4 |   |   |   | $ | - |   |
|                                     |                                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| As of December 31, 2009                  |                                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Energy commodity derivative contracts(a) |                                                                                                                          | $ | 78.1 |   |   |   | $ | - |   |   |   | $ | 14.4 |   |   |   | $ | 63.7 |   |
| Interest rate swap agreements            |                                                                                                                          | $ | 236.0 |   |   |   | $ | - |   |   |   | $ | 236.0 |   |   |   | $ | - |   |

|                                                                  | Liability fair value measurements using                                                                   |
|-----------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------|
|                                                                  |           Total           |   |  Quoted prices in active marketsfor identicalliabilities(Level 1) |   |  Significant other observableinputs (Level 2) |   | Significantunobservable  inputs (Level 3)  |
| As of March 31, 2010                                                  |                                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Energy commodity derivative contracts(b)                              |                                                                                                                          | $ | (469.5) |   |   |   | $ | - |   |   |   | $ | (433.3) |   |   |   | $ | (36.2) |   |
| Interest rate swap agreements                                         |                                                                                                                          | $ | (174.0) |   |   |   | $ | - |   |   |   | $ | (174.0) |   |   |   | $ | - |   |
| Cross currency interest rate swap agreements |                                                                                                                          | $ | (15.1) |   |   |   | $ | - |   |   |   | $ | (15.1) |   |   |   | $ | - |   |
|                                                                  |                                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| As of December 31, 2009                                               |                                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Energy commodity derivative contracts(b)                              |                                                                                                                          | $ | (513.5) |   |   |   | $ | - |   |   |   | $ | (462.8) |   |   |   | $ | (50.7) |   |
| Interest rate swap agreements                                         |                                                                                                                          | $ | (218.5) |   |   |   | $ | - |   |   |   | $ | (218.5) |   |   |   | $ | - |   |
| Cross currency interest rate swap agreements |                                                                                                                          | $ | (9.6) |   |   |   | $ | - |   |   |   | $ | (9.6) |   |   |   | $ | - |   |

| (a) | Level 2 consists primarily of OTC West Texas Intermediate hedges and OTC natural gas hedges that are settled on NYMEX.  Level 3 consists primarily of natural gas basis swaps, natural gas options and West Texas Intermediate options.                         |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | Level 2 consists primarily of OTC West Texas Intermediate hedges and OTC natural gas hedges that are settled on NYMEX.  Level 3 consists primarily of West Texas Sour hedges, natural gas basis swaps, natural gas options and West Texas Intermediate options. |

|                                                                                                                                          |   | Three Months EndedMarch 31, |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|--------|
|                                                                                                                                          |   | 2010                                  |   |   | 2009 |   |
| Derivatives-net asset (liability)                                                                                                             |   |                                  |   |   |   |   |
| Beginning of Period                                                                                                                           |   | $                                     | 13.0   |   |   | $ | 44.1 |   |
| Realized and unrealized net losses                                                                                                            |   |                                  | 8.6    |   |   |   | 6.3 |   |
| Purchases and settlements                                                                                                                     |   |                                  | 1.0    |   |   |   | 3.0 |   |
| Transfers in (out) of Level 3                                                                                                                 |   |                                  | -      |   |   |   | - |   |
| End of Period                                                                                                                                 |   | $                                     | 22.6   |   |   | $ | 53.4 |   |
|                                                                                                                                          |   |                                  |   |   |   |   |   |   |
| Change in unrealized net losses relating to contracts still held at end of period |   | $                                     | 3.8    |   |   | $ | (14.5 | ) |

----

|       | March 31, 2010 |     | December 31, 2009        |
|------------|----------------|----------|--------------------------|
|       | Carryingvalue  |     | Estimatedfair value |   | Carryingvalue |   | Estimatedfair value |
| Total debt | $              | 14,006.4 |                     | $ | 14,659.3 |   | $ | 13,648.4 |   | $ | 14,158.2 |

|                          | Asset fair value measurements using |
|-------------------------------|---------------------------------------------------------|
|                          | Total                                                   |   | Quoted prices inactive marketsfor identicalassets (Level 1) |   | Significant otherobservableinputs (Level 2) |   | Significantunobservableinputs (Level 3) |
| Investment in NGPL PipeCo LLC | $                                                       | 269.0 |   | $ | - |   | $ | - |   | $ | 269.0 |

|   | ▪ | Products Pipelines–KMP— the transportation and terminaling of refined petroleum products, including gasoline, diesel fuel, jet fuel and natural gas liquids; |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | Natural Gas Pipelines–KMP—the sale, transport, processing, treating, storage and gathering of natural gas; |
|--------|---------|------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | CO2–KMP—the production and sale of crude oil from fields in the Permian Basin of West Texas and the transportation and marketing of carbon dioxide used as a flooding medium for recovering crude oil from mature oil fields; |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | Terminals–KMP—the transloading and storing of refined petroleum products and dry and liquid bulk products, including coal, petroleum coke, cement, alumina, salt and other bulk chemicals; |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | Kinder Morgan Canada–KMP—the transportation of crude oil and refined products from Alberta, Canada to marketing terminals and refineries in British Columbia, the state of Washington and the Rocky Mountains and Central regions of the United States; |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | NGPL PipeCo LLC— consists of our 20% interest in NGPL PipeCo LLC, the owner of Natural Gas Pipeline Company of America and certain affiliates, collectively referred to as Natural Gas Pipeline Company of America or NGPL, a major interstate natural gas pipeline and storage system, which we operate; and |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | Power—consists of a natural gas-fired electric generation facility. |
|--------|---------|---------------------------------------------------------------------------|

----

|                              |   | Three Months EndedMarch 31, |    |
|-----------------------------------|--------|---------------------------------------|---------|
|                              |   | 2010                                  |    |   | 2009 |   |
| Revenues                          |   |                                  |    |   |   |   |
| Products Pipelines–KMP      |   |                                  |    |   |   |   |
| Revenues from external customers  |   | $                                     | 207.5   |   |   | $ | 188.2 |   |
| Natural Gas Pipelines–KMP   |   |                                  |    |   |   |   |   |   |
| Revenues from external customers  |   |                                  | 1,236.7 |   |   |   | 1,051.7 |   |
| CO2–KMP                     |   |                                  |    |   |   |   |   |   |
| Revenues from external customers  |   |                                  | 335.2   |   |   |   | 253.2 |   |
| Terminals–KMP               |   |                                  |    |   |   |   |   |   |
| Revenues from external customers  |   |                                  | 303.8   |   |   |   | 267.7 |   |
| Intersegment revenues             |   |                                  | 0.3     |   |   |   | 0.2 |   |
| Kinder Morgan Canada–KMP    |   |                                  |    |   |   |   |   |   |
| Revenues from external customers  |   |                                  | 59.8    |   |   |   | 50.0 |   |
| Power(a)                          |   |                                  |    |   |   |   |   |   |
| Revenues from external customers  |   |                                  | 2.8     |   |   |   | 6.6 |   |
| Other                             |   |                                  |    |   |   |   |   |   |
| NGPL PipeCo LLC fixed fee revenue |   |                                  | 11.8    |   |   |   | 11.5 |   |
| Total segment revenues            |   |                                  | 2,157.9 |   |   |   | 1,829.1 |   |
| Less: Total intersegment revenues |   |                                  | (0.3    | ) |   |   | (0.2 | ) |
| Total consolidated revenues       |   | $                                     | 2,157.6 |   |   | $ | 1,828.9 |   |

----

|                                                                                                                         |   | Three Months EndedMarch 31, |   |
|------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|--------|
|                                                                                                                         |   | 2010                                  |   |   | 2009 |   |
| Segment earnings (loss) before depreciation, depletion, amortizationand amortization of excess cost of equity investments(b) |   |                                  |   |   |   |   |
| Products Pipelines–KMP(c)                                                                                              |   | $                                     | 6.4    |   |   | $ | 145.4 |   |
| Natural Gas Pipelines–KMP                                                                                              |   |                                  | 220.6  |   |   |   | 200.0 |   |
| CO2–KMP                                                                                                                |   |                                  | 266.6  |   |   |   | 191.7 |   |
| Terminals–KMP                                                                                                          |   |                                  | 150.5  |   |   |   | 134.3 |   |
| Kinder Morgan Canada–KMP                                                                                               |   |                                  | 45.0   |   |   |   | 19.5 |   |
| NGPL PipeCo LLC(d)                                                                                                           |   |                                  | (419.6 | ) |   |   | 12.3 |   |
| Power(a)                                                                                                                     |   |                                  | 1.2    |   |   |   | 1.1 |   |
| Total segment earnings before DD&A                                                                                       |   |                                  | 270.7  |   |   |   | 704.3 |   |
| Total segment depreciation, depletion and amortization                                                                       |   |                                  | (282.3 | ) |   |   | (264.8 | ) |
| Total segment amortization of excess cost of investments                                                                     |   |                                  | (1.4   | ) |   |   | (1.4 | ) |
| NGPL PipeCo LLC fixed fee revenue                                                                                            |   |                                  | 11.8   |   |   |   | 11.5 |   |
| General and administrative expenses                                                                                          |   |                                  | (115.7 | ) |   |   | (92.9 | ) |
| Unallocable interest and other, net of interest income(e)                                                                    |   |                                  | (155.8 | ) |   |   | (150.3 | ) |
| Unallocable income tax benefit (expense)                                                                                     |   |                                  | 93.0   |   |   |   | (61.3 | ) |
| Income (loss) from continuing operations                                                                                     |   | $                                     | (179.7 | ) |   | $ | 145.1 |   |

|                            |   | March 31,2010 |     |   | December 31,2009 |   |
|---------------------------------|--------|--------------------|----------|--------|-----------------------|--------|
| Assets                          |   |               |     |   |                  |   |
| Products Pipelines–KMP    |   | $                  | 5,633.2  |   |                  | $      | 5,614.7 |   |
| Natural Gas Pipelines–KMP |   |               | 10,017.6 |   |                  |   | 9,956.7 |   |
| CO2–KMP                   |   |               | 4,179.6  |   |                  |   | 4,230.5 |   |
| Terminals–KMP             |   |               | 4,861.5  |   |                  |   | 4,537.3 |   |
| Kinder Morgan Canada–KMP  |   |               | 1,845.5  |   |                  |   | 1,797.7 |   |
| NGPL PipeCo LLC(d)              |   |               | 269.0    |   |                  |   | 698.5 |   |
| Power(a)                        |   |               | 4.2      |   |                  |   | 67.6 |   |
| Total segment assets            |   |               | 26,810.6 |   |                  |   | 26,903.0 |   |
| Corporate assets(f)             |   |               | 577.4    |   |                  |   | 683.3 |   |
| Total consolidated assets       |   | $                  | 27,388.0 |   |                  | $      | 27,586.3 |   |

| (a)       | Upon the adoption of Accounting Standards Update No. 2009-17, which amended the codification’s “Consolidation” topic, on January 1, 2010, Triton Power Company LLC is no longer consolidated into our financial statements, but is treated as an equity investment (see Note 13). This resulted in decreases to 2010 revenues, operating expenses and noncontrolling interests with no impact to segment earnings before DD&A as compared to 2009. |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b)       | Includes revenues, earnings from equity investments, allocable interest income, and other, net, less operating expenses, allocable income taxes, and other expense (income).                                                                                                                                                                                                                                                                                             |
| (c)       | 2010 amount includes a $158.0 million increase in expense associated with rate case liability adjustments.                                                                                                                                                                                                                                                                                                                                                               |
| (d)       | Includes a $430.0 million non-cash investment impairment charge (see Note 2).                                                                                                                                                                                                                                                                                                                                                                                            |
| (e)       | Includes (i) interest expense and (ii) miscellaneous other income and expenses not allocated to reportable segments.                                                                                                                                                                                                                                                                                                                                                     |
| (f)  | Includes cash and cash equivalents, margin and restricted deposits, unallocable interest receivable, prepaid assets and deferred charges, risk management assets related to the fair value of interest rate swaps and miscellaneous corporate assets (such as information technology and telecommunications equipment) not allocated to individual segments.                                                                                                             |

----

----

|                                                                           |   | March 31,2010 |   |   | December 31,2009 |   |
|--------------------------------------------------------------------------------|--------|--------------------|--------|--------|-----------------------|--------|
| Derivatives - asset (liability)                                                |   |               |   |   |                  |   |
| Current Assets: Fair value of derivative contracts                             |   | $                  | 1.5    |   |                  | $      | 4.3 |   |
| Assets: Fair value of derivative contracts                                     |   | $                  | 17.4   |   |                  | $      | 18.4 |   |
| Current Liabilities: Fair value of derivative contracts                        |   | $                  | (120.8 | )      |                  | $      | (96.8 | ) |
| Long-term Liabilities and Deferred Credits: Fair value of derivative contracts |   | $                  | (150.9 | )      |                  | $      | (190.8 | ) |

|               |   | Three Months EndedMarch 31, |
|--------------------|--------|---------------------------------------|
|               |   | 2010                                  |   |   | 2009 |
| Income taxes       |   | $                                     | (95.5 | ) |   | $ | 80.6 |   |
| Effective tax rate |   |                                  | 34.7 |  % |   |   | 35.7 |  % |

----

|   | ▪ | FERC Docket Nos. OR92-8, et al (West and East Line Rates)—Complainants: Chevron, Navajo, ARCO, BP, Western Refining, ExxonMobil, Tosco, and Texaco—Defendant: SFPP—Status:  Appeals pending at the D.C. Circuit; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket No. OR92-8-025 (Watson Drain-Dry Charge)—Complainants:  BP; ExxonMobil; Chevron; ConocoPhillips; and Ultramar—Defendant: SFPP—Status:  Appeal denied by the D.C. Circuit; |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket Nos. OR96-2, et al (All SFPP Rates)—Complainants: All shippers except Chevron—Defendant: SFPP—Status:  Compliance filings pending with FERC; |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket No. OR02-4 (All SFPP Rates)—Complainant: Chevron—Defendant: SFPP—Status:  Appeal of complaint dismissal pending at the D.C. Circuit; |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket Nos. OR03-5, OR04-3, OR05-4 & OR05-5 (West, East, North, and Oregon Line Rates)—Complainants: BP, ExxonMobil, ConocoPhillips, the Airlines—Defendant: SFPP—Status:  Exceptions to initial decision pending at FERC; |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket Nos. OR07-1 & OR07-2 (North and West Line Rates)—Complainant: Tesoro—Defendant: SFPP—Status:  Held in abeyance; |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | ▪ | FERC Docket Nos. OR07-3 & OR07-6 (not consolidated) (2005-2006 Index Rate Increases)—Complainants: BP, Chevron, ConocoPhillips, ExxonMobil, Tesoro, and Valero Marketing—Defendant: SFPP—Status:  Appeal of dismissal by FERC pending at the D.C. Circuit; |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket No. OR07-4 (All SFPP Rates)—Complainants: BP, Chevron, and ExxonMobil—Defendant: SFPP—Status:  Held in abeyance; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket Nos. OR07-7, OR07-18, OR07-19 & OR07-22 (not consolidated) (Calnev Rates)—Complainants: Tesoro, Airlines, BP, Chevron, ConocoPhillips and Valero Marketing—Defendant: Calnev—Status:  Complaint amendments pending before FERC; |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket No. OR07-20 (2007 Index Rate Increases)—Complainant: BP—Defendant: SFPP—Status:  Appeal of dismissal by FERC pending at the D.C. Circuit; |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket No. OR08-13 (Most SFPP Rates)—Complainants: BP and ExxonMobil—Defendant: SFPP—Status:  Held in abeyance; |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket No. IS05-230 (North Line Rates)—Protestants: shippers—Defendant: SFPP—Status:  Exceptions to initial decision pending at FERC; |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket No. IS08-390 (West Line Rates)—Protestants: BP, ExxonMobil, ConocoPhillips, Valero Marketing, Chevron, the Airlines—Defendant: SFPP—Status:  Exceptions to initial decision pending at FERC; |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket No. IS09-375 (2009 Index Rate Increases)—Protestants: BP, ExxonMobil, Chevron, Tesoro, ConocoPhillips, Western, Navajo, Valero Marketing, and Southwest—Defendant: SFPP—Status:  Requests for rehearing of FERC dismissal pending before FERC; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket No. IS09-377 (2009 Index Rate Increases)—Protestants: BP, Chevron, and Tesoro—Defendant: Calnev—Status:  Requests for rehearing of FERC dismissal pending before FERC; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket No. IS09-437 (East Line Rates)—Protestants: BP, ExxonMobil, ConocoPhillips, Valero, Chevron, Western Refining, and Southwest Airlines—Defendant: SFPP—Status:  Pre-hearing stage; |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket Nos. OR08-15/OR09-8 (consolidated) (2008 Index Increases)—Complainants:  BP/Chevron—Defendant:  SFPP—Status:  Complaints partially dismissed and remainder set for hearing; hearing held in abeyance pending settlement discussions; |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket Nos. OR09-18/OR09-21 (not consolidated) (2008 and 2009 Index Increases)—Complainants: BP (for 2009)/Tesoro (for 2008 and 2009)—Defendant: SFPP—Status:  BP appeal of FERC dismissal pending at the D.C. Circuit; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket Nos. OR09-11/OR09-14 (not consolidated) (2007 and 2008 Page 700 Audit Request)—Complainants: BP/Tesoro—Defendant: Calnev—Status:  BP appeal of FERC dismissal pending at the D.C. Circuit; |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket Nos. OR09-12/OR09-16 (not consolidated) (2007 and 2008 Page 700 Audit Request)—Complainants: BP/Tesoro—Defendant: SFPP—Status:  BP appeal of FERC dismissal pending at the D.C. Circuit; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket Nos. OR09-15/OR09-20 (not consolidated) (Calnev Rates)—Complainants: Tesoro/BP—Defendant: Calnev—Status:  Complaints pending at FERC; |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket Nos. OR09-17/OR09-22 (Most SFPP Rates) (not consolidated)—Complainants: Tesoro/BP—Defendant: SFPP—Status:  BP appeal of FERC dismissal pending at the D.C. Circuit; and |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FERC Docket Nos. OR09-19/OR09-23 (not consolidated) (2009 Index Increases)—Complainants: Tesoro/BP—Defendant: Calnev—Status:  BP appeal of FERC dismissal pending at the D.C. Circuit. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                                                                                                                                                                            |   | Three Months EndedMarch 31, |   |   |   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|--------|--------|--------|--------|
|                                                                                                                                                                                            |   | 2010                                  |   |   | 2009   |   |   | Earningsincrease/(decrease) |   |
|                                                                                                                                                                                            |   | (In millions, except percentages)     |   |
| Segment earnings (loss) before depreciation, depletion and amortization expense and amortization of excess cost of equity investments(a)                     |   |                                  |   |   |   |   |   |   |   |   |   |   |
| Products Pipelines–KMP(b)                                                                                                                                                                 |   | $                                     | 6.4    |   |   | $      | 145.4 |   |   | $ | (139.0 | ) |   |   | (96 | ) % |
| Natural Gas Pipelines–KMP(c)                                                                                                                                                              |   |                                  | 220.6  |   |   |   | 200.0 |   |   |   | 20.6 |   |   |   | 10 | % |
| CO2–KMP(d)                                                                                                                                                                                |   |                                  | 266.6  |   |   |   | 191.7 |   |   |   | 74.9 |   |   |   | 39 | % |
| Terminals–KMP(e)                                                                                                                                                                          |   |                                  | 150.5  |   |   |   | 134.3 |   |   |   | 16.2 |   |   |   | 12 | % |
| Kinder Morgan Canada–KMP(f)                                                                                                                                                               |   |                                  | 45.0   |   |   |   | 19.5 |   |   |   | 25.5 |   |   |   | 131 | % |
| NGPL PipeCo LLC(g)                                                                                                                                                                              |   |                                  | (419.6 | )      |   |   | 12.3 |   |   |   | (431.9 | ) |   |   | (3,511 | ) % |
| Power                                                                                                                                                                                           |   |                                  | 1.2    |   |   |   | 1.1 |   |   |   | 0.1 |   |   |   | 9 | % |
| Segment earnings before depreciation, depletion and amortization expense and amortization of excess cost of equity investments |   |                                  | 270.7  |   |   |   | 704.3 |   |   |   | (433.6 | ) |   |   | (62 | ) % |
|                                                                                                                                                                                            |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation, depletion and amortization expense                                                                                                                                                |   |                                  | (282.3 | )      |   |   | (264.8 | ) |   |   | (17.5 | ) |   |   | (7 | ) % |
| Amortization of excess cost of equity investments                                                                                                                                               |   |                                  | (1.4   | )      |   |   | (1.4 | ) |   |   | - |   |   |   | - |   |
| NGPL PipeCo LLC fixed fee revenue(h)                                                                                                                                                            |   |                                  | 11.8   |   |   |   | 11.5 |   |   |   | 0.3 |   |   |   | 3 | % |
| General and administrative expense(i)                                                                                                                                                           |   |                                  | (115.7 | )      |   |   | (92.9 | ) |   |   | (22.8 | ) |   |   | (25 | ) % |
| Unallocable interest and other, net(j)                                                                                                                                                          |   |                                  | (155.8 | )      |   |   | (150.3 | ) |   |   | (5.5 | ) |   |   | (4 | ) % |
| Income (loss) from continuing operations before income taxes                                                                                                                                    |   |                                  | (272.7 | )      |   |   | 206.4 |   |   |   | (479.1 | ) |   |   | (232 | ) % |
| Unallocable income tax benefit (expense)(a)                                                                                                                                                     |   |                                  | 93.0   |   |   |   | (61.3 | ) |   |   | 154.3 |   |   |   | 252 | % |
| Income (loss) from continuing operations                                                                                                                                                        |   |                                  | (179.7 | )      |   |   | 145.1 |   |   |   | (324.8 | ) |   |   | (224 | ) % |
| Loss from discontinued operations, net of tax                                                                                                                                                   |   |                                  | (0.2   | )      |   |   | (0.2 | ) |   |   | - |   |   |   | - |   |
| Net income (loss)                                                                                                                                                                               |   |                                  | (179.9 | )      |   |   | 144.9 |   |   |   | (324.8 | ) |   |   | (224 | ) % |
| Net loss (income) attributable to noncontrolling interests                                                                                                                                      |   |                                  | 19.0   |   |   |   | (29.6 | ) |   |   | 48.6 |   |   |   | 164 | % |
| Net income (loss) attributable to Kinder Morgan, Inc.                                                                                                                                           |   | $                                     | (160.9 | )      |   | $      | 115.3 |   |   | $ | (276.2 | ) |   |   | (240 | ) % |

| (a) | Includes revenues, earnings from equity investments, allocable interest income and other, net, less operating expenses, allocable income taxes, and other expense (income).  Operating expenses include natural gas purchases and other costs of sales, operations and maintenance expenses, and taxes, other than income taxes. Segment earnings include KMP’s allocable income tax benefit of $2.5 million and income tax expense of $19.3 million for the three months ended March 31, 2010 and 2009, respectively.                                                                                                                                                                                       |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | 2010 amount includes a $158.0 million expense associated with rate case liability adjustments and a $0.5 million increase in income resulting from unrealized foreign currency gains on long-term debt transactions.  2009 amount includes a $0.6 million decrease in income resulting from unrealized foreign currency losses on long-term debt transactions.                                                                                                                                                                                                                                                                                                                                                     |
| (c) | 2010 amount includes a $0.9 million unrealized gain on derivative contracts used to hedge forecasted natural gas sales and a $0.4 million increase in income from certain measurement period adjustments related to KMP’s October 1, 2009 natural gas treating business acquisition.  2009 amount includes a $1.3 million decrease in income resulting from unrealized mark to market gains and losses due to the discontinuance of hedge accounting at Casper Douglas. 2009 amount also includes a $0.8 million decrease in segment earnings related to assets sold, which had been revalued as part of the Going Private transaction and recorded in the application of the purchase method of accounting. |
| (d) | 2010 amount includes a $5.4 million unrealized gain on derivative contracts used to hedge forecasted crude oil sales. Also, 2010 and 2009 amounts include increases in segment earnings resulting from valuation adjustments of $13.4 million and $24.3 million, respectively, primarily related to derivative contracts in place at the time of the Going Private transaction and recorded in the application of the purchase method of accounting.                                                                                                                                                                                                                                                                         |
| (e) | 2010 amount includes a $0.4 million decrease in income related to storm and flood clean-up and repair activities. 2009 amount includes a $0.4 million decrease in segment earnings related to assets sold, which had been revalued as part of the Going Private transaction and recorded in the application of the purchase method of accounting.                                                                                                                                                                                                                                                                                                                                                                            |
| (f) | 2009 amount includes a $14.9 million increase in expense primarily due to certain non-cash regulatory accounting adjustments to the carrying amount of the previously established deferred tax liability                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| (g) | Includes a non-cash investment impairment charge, which we recorded in the amount of $430.0 million; see Note 2 of the accompanying Notes to Consolidated Financial Statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| (h) | See Note 9 of the accompanying Notes to Consolidated Financial Statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| (i) | Includes unallocated litigation and environmental expenses.  2010 amount includes (i) a $1.6 million increase in legal expense associated with certain items such as legal settlements and pipeline failures, (ii) a $1.4 million increase in expense for certain asset and business acquisition costs, and (iii) a $0.3 million decrease in expense related to capitalized overhead costs associated with the 2008 hurricane season.  2009 amount includes a $0.1 million increase in expense for certain Express pipeline system acquisition costs and a $0.6 million decrease in expense related to capitalized overhead costs associated with                                                        |

----

|   | the 2008 hurricane season.                                                                                                                                                              |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (j)    | 2010 and 2009 amounts include increases in imputed interest expense of $0.4 million and $0.5 million, respectively, related to KMP’s January 1, 2007 Cochin Pipeline acquisition. |

|                                                                                                                                                                                    |   | Three Months EndedMarch 31,     |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------|--------|
|                                                                                                                                                                                    |   | 2010                                      |   |   | 2009 |   |
|                                                                                                                                                                                    |   | (In millions, exceptoperating statistics) |   |
| Revenues                                                                                                                                                                                |   | $                                         | 207.5  |   |   | $ | 188.2 |   |
| Operating expenses(a)                                                                                                                                                                   |   |                                      | (208.9 | ) |   |   | (49.0 | ) |
| Earnings from equity investments                                                                                                                                                        |   |                                      | 4.5    |   |   |   | 3.5 |   |
| Interest income and Other, net-income(b)                                                                                                                                                |   |                                      | 2.6    |   |   |   | 2.8 |   |
| Income tax benefit (expense)                                                                                                                                                            |   |                                      | 0.7    |   |   |   | (0.1 | ) |
| Earnings before depreciation, depletion and amortization expense and amortization of excess cost of equity investments |   | $                                         | 6.4    |   |   | $ | 145.4 |   |
|                                                                                                                                                                                    |   |                                      |   |   |   |   |   |   |
| Gasoline (MMBbl)(c)                                                                                                                                                                     |   |                                      | 93.8   |   |   |   | 95.6 |   |
| Diesel fuel (MMBbl)                                                                                                                                                                     |   |                                      | 32.8   |   |   |   | 35.5 |   |
| Jet fuel (MMBbl)                                                                                                                                                                        |   |                                      | 24.8   |   |   |   | 26.8 |   |
| Total refined product volumes (MMBbl)                                                                                                                                                   |   |                                      | 151.4  |   |   |   | 157.9 |   |
| Natural gas liquids (MMBbl)                                                                                                                                                             |   |                                      | 5.9    |   |   |   | 4.8 |   |
| Total delivery volumes (MMBbl)(d)                                                                                                                                                       |   |                                      | 157.3  |   |   |   | 162.7 |   |
| Ethanol (MMBbl)(e)                                                                                                                                                                      |   |                                      | 7.2    |   |   |   | 5.1 |   |

| (a) | 2010 amount includes a $158.0 million expense associated with rate case liability adjustments.                                                                                                                   |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | 2010 and 2009 amounts include a $0.5 million increase in income and a $0.6 million decrease in income, respectively, resulting from unrealized foreign currency gains and losses on long-term debt transactions. |
| (c) | Volumes include ethanol pipeline volumes.                                                                                                                                                                        |
| (d) | Includes Pacific, Plantation, Calnev, Central Florida, Cochin and Cypress pipeline volumes.                                                                                                                      |
| (e) | Represents total ethanol volumes including ethanol pipeline volumes.                                                                                                                                             |

|                                             |   | EBDAincrease/(decrease)           |   |   | Revenuesincrease/(decrease) |   |
|--------------------------------------------------|--------|-----------------------------------|--------|--------|-----------------------------|--------|
|                                             |   | (In millions, except percentages) |   |
| Pacific operations                               |   | $                                 | 9.7    |   |                        |   | 15 | % |   | $ | 10.7 |   |   |   | 12 | % |
| Southeast Terminals                              |   |                              | 4.6    |   |                        |   | 40 | % |   |   | 4.8 |   |   |   | 27 | % |
| Calnev Pipeline                                  |   |                              | 2.4    |   |                        |   | 20 | % |   |   | 1.5 |   |   |   | 9 | % |
| Central Florida Pipeline                         |   |                              | 1.2    |   |                        |   | 10 | % |   |   | 1.0 |   |   |   | 7 | % |
| West Coast Terminals                             |   |                              | 1.2    |   |                        |   | 7 | % |   |   | 1.1 |   |   |   | 5 | % |
| Cochin Pipeline                                  |   |                              | (2.6   | )      |                        |   | (23 | ) % |   |   | (0.2 | ) |   |   | (2 | ) % |
| All others (including intrasegment eliminations) |   |                              | 1.4    |   |                        |   | 8 | % |   |   | 0.4 |   |   |   | 2 | % |
| Total Products Pipelines-KMP                     |   | $                                 | 17.9   |   |                        |   | 12 | % |   | $ | 19.3 |   |   |   | 10 | % |

----

|   | ▪ | a $9.7 million (15%) increase in earnings from KMP’s Pacific operations—driven by a $10.7 million (12%) increase in operating revenues consisting of (i) a $7.6 million (12%) increase in mainline delivery revenues, due to higher average tariff rates, which more than offset an overall 3% drop in mainline delivery volumes and (ii) a $3.1 million increase in terminal revenues, primarily related to incremental ethanol handling services; |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | a $4.6 million (40%) increase in earnings from KMP’s Southeast terminal operations—related largely to a $4.8 million (27%) increase in revenues that was chiefly attributable to increased ethanol throughput and storage activities; |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | a $2.4 million (20%) increase in earnings from KMP’s Calnev Pipeline—driven by a $1.5 million (9%) increase in revenues attributable mainly to higher average tariff rates compared to the first quarter last year, and to a $0.7 million (37%) reduction in combined fuel and power expenses primarily due to a 2% decrease in total refined products delivery volumes; |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | a $1.2 million (10%) increase in earnings from KMP’s Central Florida Pipeline—driven by incremental ethanol revenues and higher refined products delivery revenues; |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | a $1.2 million (7%) increase in earnings from KMP’s West Coast terminal operations—driven by incremental biodiesel revenues from its liquids facilities located in Portland, Oregon, and from an incremental contribution from the terminals’ Portland, Oregon Airport pipeline, which was acquired on July 31, 2009; and |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | a $2.6 million (23%) decrease in earnings from KMP’s Cochin pipeline system—related mainly to a $1.7 million decrease from higher operating expenses and a $1.4 million decrease from lower other non-operating income, when compared to the first quarter of 2009.  Both decreases were primarily related to favorable settlements reached in the first quarter of 2009 with the seller of the remaining approximate 50.2% interest in the Cochin pipeline system that KMP purchased on January 1, 2007. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                           |   | Three Months EndedMarch 31,               |     |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------|----------|
|                                                                                                                                                           |   | 2010                                      |     |   | 2009 |   |
|                                                                                                                                                           |   | (In millions, exceptoperating statistics) |     |
| Revenues(a)                                                                                                                                                    |   | $                                         | 1,236.7  |   |   | $ | 1,051.7 |   |
| Operating expenses(b)                                                                                                                                          |   |                                      | (1,051.5 | ) |   |   | (890.5 | ) |
| Other income(c)                                                                                                                                                |   |                                      | -        |   |   |   | (0.8 | ) |
| Earnings from equity investments                                                                                                                               |   |                                      | 33.8     |   |   |   | 26.6 |   |
| Interest income and Other, net-income                                                                                                                          |   |                                      | 2.2      |   |   |   | 14.7 |   |
| Income tax expense                                                                                                                                             |   |                                      | (0.6     | ) |   |   | (1.7 | ) |
| Earnings before depreciation, depletion and amortization expense and amortization of excess cost of equity investments |   | $                                         | 220.6    |   |   | $ | 200.0 |   |
|                                                                                                                                                           |   |                                      |     |   |   |   |   |   |
| Natural gas transport volumes (Bcf)(d)                                                                                                                         |   |                                      | 633.7    |   |   |   | 508.4 |   |
| Natural gas sales volumes (Bcf)(e)                                                                                                                             |   |                                      | 189.0    |   |   |   | 203.7 |   |

| (a) | 2010 amount includes a $0.4 million increase in revenues from certain measurement period adjustments related to KMP’s October 1, 2009 natural gas treating business acquisition.                                                                                                                                                                                                                                                                                                                                                                                                      |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | 2010 amount includes a $0.9 million unrealized gain (from a decrease in natural gas purchase costs) on derivative contracts used to hedge forecasted natural gas sales.  2009 amount includes a $1.3 million decrease in income resulting from unrealized mark to market gains and losses due to the discontinuance of hedge accounting at Casper Douglas.  Beginning in the second quarter of 2008, KMP’s Casper and Douglas gas processing operations discontinued hedge accounting, and the last of the related derivative contracts expired in December 2009. |
| (c) | 2009 amount includes a $0.8 million decrease in segment earnings related to assets sold, which had been revalued as part of the Going Private transaction and recorded in the application of the purchase method of accounting.                                                                                                                                                                                                                                                                                                                                                             |
| (d) | Includes Kinder Morgan Interstate Gas Transmission LLC, Trailblazer Pipeline Company LLC, TransColorado Gas Transmission Company LLC, Rockies Express Pipeline LLC, Midcontinent Express Pipeline LLC, Kinder Morgan Louisiana Pipeline LLC and Texas intrastate natural gas pipeline group pipeline volumes.                                                                                                                                                                                                                                                                               |
| (e) | Represents Texas intrastate natural gas pipeline group volumes.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |

|                                        |   | EBDAincrease/(decrease)           |   |   | Revenuesincrease/(decrease) |   |
|---------------------------------------------|--------|-----------------------------------|--------|--------|-----------------------------|--------|
|                                        |   | (In millions, except percentages) |   |
| Kinder Morgan Natural Gas Treating          |   | $                                 | 10.5   |   |                        |   | n/a |   |   | $ | 15.1 |   |   |   | n/a |   |
| Midcontinent Express Pipeline               |   |                              | 5.4    |   |                        |   | n/a |   |   |   | - |   |   |   | - |   |
| Kinder Morgan Louisiana Pipeline            |   |                              | 5.3    |   |                        |   | 61 | % |   |   | 17.0 |   |   |   | n/a |   |
| Casper and Douglas gas processing           |   |                              | 2.1    |   |                        |   | 74 | % |   |   | 14.9 |   |   |   | 106 | % |
| Texas Intrastate Natural Gas Pipeline Group |   |                              | (9.0   | )      |                        |   | (8 | ) % |   |   | 141.3 |   |   |   | 15 | % |
| All others                                  |   |                              | 2.9    |   |                        |   | 4 | % |   |   | (3.6 | ) |   |   | (5 | ) % |
| Intrasegment eliminations                   |   |                              | -      |   |                        |   | - |   |   |   | (0.1 | ) |   |   | (27 | ) % |
| Total Natural Gas Pipelines-KMP             |   | $                                 | 17.2   |   |                        |   | 9 | % |   | $ | 184.6 |   |   |   | 18 | % |

----

----

|                                                                                                                                                      |   | Three Months EndedMarch 31,     |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------|--------|
|                                                                                                                                                      |   | 2010                                      |   |   | 2009 |   |
|                                                                                                                                                      |   | (In millions, exceptoperating statistics) |   |
| Revenues(a)                                                                                                                                               |   | $                                         | 335.2  |   |   | $ | 253.2 |   |
| Operating expenses                                                                                                                                        |   |                                      | (79.1  | ) |   |   | (66.6 | ) |
| Earnings from equity investments                                                                                                                          |   |                                      | 6.5    |   |   |   | 5.8 |   |
| Income tax expense                                                                                                                                        |   |                                      | 4.0    |   |   |   | (0.7 | ) |
| Earnings before depreciation, depletion and amortization expense and amortization of excess cost of equity investments |   | $                                         | 266.6  |   |   | $ | 191.7 |   |
|                                                                                                                                                      |   |                                      |   |   |   |   |   |   |
| Carbon dioxide delivery volumes (Bcf)(b)                                                                                                                  |   |                                      | 191.0  |   |   |   | 212.8 |   |
| SACROC oil production (gross)(MBbl/d)(c)                                                                                                                  |   |                                      | 30.0   |   |   |   | 30.0 |   |
| SACROC oil production (net)(MBbl/d)(d)                                                                                                                    |   |                                      | 25.0   |   |   |   | 25.0 |   |
| Yates oil production (gross)(MBbl/d)(c)                                                                                                                   |   |                                      | 25.6   |   |   |   | 26.5 |   |
| Yates oil production (net)(MBbl/d)(d)                                                                                                                     |   |                                      | 11.4   |   |   |   | 11.7 |   |
| Natural gas liquids sales volumes (net)(MBbl/d)(d)                                                                                                        |   |                                      | 9.7    |   |   |   | 8.9 |   |
| Realized weighted average oil price per Bbl(e)(f)                                                                                                         |   | $                                         | 60.50  |   |   | $ | 43.85 |   |
| Realized weighted average natural gas liquids price per Bbl(f)(g)                                                                                         |   | $                                         | 55.06  |   |   | $ | 28.10 |   |

| (a) | 2010 amount includes a $5.4 million unrealized gain (from an increase in revenues) on derivative contracts used to hedge forecasted crude oil sale prices. Also, 2010 and 2009 amounts include increases in segment earnings resulting from valuation adjustments of $13.4 million and $24.3 million, respectively, primarily related to derivative contracts in place at the time of the Going Private transaction and recorded in the application of the purchase method of accounting. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | Includes Cortez, Central Basin, Canyon Reef Carriers, Centerline and Pecos pipeline volumes.                                                                                                                                                                                                                                                                                                                                                                                              |
| (c) | Represents 100% of the production from the field.  KMP owns an approximately 97% working interest in the SACROC unit and an approximately 50% working interest in the Yates unit.                                                                                                                                                                                                                                                                                               |
| (d) | Net to KMP, after royalties and outside working interests.                                                                                                                                                                                                                                                                                                                                                                                                                                |
| (e) | Includes all of KMP’s crude oil production properties.                                                                                                                                                                                                                                                                                                                                                                                                                              |
| (f) | Hedge gains/losses for crude oil and natural gas liquids are included with crude oil.                                                                                                                                                                                                                                                                                                                                                                                                     |
| (g) | Includes production attributable to leasehold ownership and production attributable to KMP’s ownership in processing plants and third party processing agreements.                                                                                                                                                                                                                                                                                                                  |

|                                |   | EBDAincrease/(decrease)           |   |   | Revenuesincrease/(decrease) |   |
|-------------------------------------|--------|-----------------------------------|--------|--------|-----------------------------|--------|
|                                |   | (In millions, except percentages) |   |
| Sales and Transportation Activities |   | $                                 | 7.0    |   |                        |   | 11 | % |   | $ | 3.8 |   |   |   | 6 | % |
| Oil and Gas Producing Activities    |   |                              | 73.4   |   |                        |   | 69 | % |   |   | 81.9 |   |   |   | 47 | % |
| Intrasegment eliminations           |   |                              | -      |   |                        |   |   |   |   |   | 1.8 |   |   |   | 12 | % |
| Total CO2-KMP                       |   | $                                 | 80.4   |   |                        |   | 48 | % |   | $ | 87.5 |   |   |   | 38 | % |

----

|   | ▪ | an increase of $79.0 million (47%) in combined crude oil and natural gas plant products sales revenues, mainly due to increases of $16.65 and $26.96, in the realized weighted average price per barrel for crude oil and natural gas liquids, respectively, and partly to a 9% increase in natural gas liquids sales volumes that was due in part to the lingering effect in 2009 from the 2008 hurricane season; and |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | a decrease of $8.5 million (12%) due to higher oil and gas related operating expenses, primarily due to higher gas processing costs related to increased gas volumes, and to higher fuel and power expenses. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                                                                                                                |   | Three Months EndedMarch 31,               |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------|--------|
|                                                                                                                                                                                                |   | 2010                                      |   |   | 2009 |   |
|                                                                                                                                                                                                |   | (In millions, exceptoperating statistics) |   |
| Revenues                                                                                                                                                                                            |   | $                                         | 304.1  |   |   | $ | 267.9 |   |
| Operating expenses(a)                                                                                                                                                                               |   |                                      | (155.9 | ) |   |   | (133.6 | ) |
| Other income(b)                                                                                                                                                                                     |   |                                      | 1.3    |   |   |   | 0.5 |   |
| Earnings from equity investments                                                                                                                                                                    |   |                                      | 0.2    |   |   |   | 0.1 |   |
| Interest income and Other, net-income (expense)                                                                                                                                                     |   |                                      | 0.9    |   |   |   | (0.1 | ) |
| Income tax expense                                                                                                                                                                                  |   |                                      | (0.1   | ) |   |   | (0.5 | ) |
| Earnings (loss) before depreciation, depletion and amortization expense and amortization of excess cost of equity investments |   | $                                         | 150.5  |   |   | $ | 134.3 |   |
|                                                                                                                                                                                                |   |                                      |   |   |   |   |   |   |
| Bulk transload tonnage (MMtons)(c)                                                                                                                                                                  |   |                                      | 21.4   |   |   |   | 19.3 |   |
| Ethanol (MMBbl)                                                                                                                                                                                     |   |                                      | 15.4   |   |   |   | 8.6 |   |
| Liquids leaseable capacity (MMBbl)                                                                                                                                                                  |   |                                      | 57.9   |   |   |   | 54.2 |   |
| Liquids utilization %                                                                                                                                                                               |   |                                      | 96.2   | % |   |   | 97.3 | % |

| (a) | 2010 amount includes a $0.4 million increase in expense related to storm and flood clean-up and repair activities.                                                                                                              |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | 2009 amount includes a $0.4 million decrease in segment earnings related to assets sold, which had been revalued as part of the Going Private transaction and recorded in the application of the purchase method of accounting. |
| (c) | Volumes for acquired terminals are included for both periods.                                                                                                                                                                   |

----

|                      |   | EBDAincrease/(decrease)           |   |   | Revenuesincrease/(decrease) |   |
|---------------------------|--------|-----------------------------------|--------|--------|-----------------------------|--------|
|                      |   | (In millions, except percentages) |   |
| West                      |   | $                                 | 8.2    |   |                        |   | 99 | % |   | $ | 13.2 |   |   |   | 73 | % |
| Mid River                 |   |                              | 2.4    |   |                        |   | 63 | % |   |   | 5.5 |   |   |   | 42 | % |
| Southeast                 |   |                              | 1.6    |   |                        |   | 16 | % |   |   | 3.5 |   |   |   | 16 | % |
| Gulf Coast                |   |                              | 1.5    |   |                        |   | 5 | % |   |   | 2.9 |   |   |   | 7 | % |
| Texas Petcoke             |   |                              | (5.5   | )      |                        |   | (29 | ) % |   |   | (4.7 | ) |   |   | (13 | ) % |
| All others                |   |                              | 1.5    |   |                        |   | 2 | % |   |   | 0.9 |   |   |   | 1 | % |
| Intrasegment eliminations |   |                              | -      |   |                        |   | - |   |   |   | 0.1 |   |   |   | 60 | % |
| Total Terminals-KMP       |   | $                                 | 9.7    |   |                        |   | 7 | % |   | $ | 21.4 |   |   |   | 8 | % |

----

|                                                                                                                                                 |   | Three Months EndedMarch 31,               |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------|--------|
|                                                                                                                                                 |   | 2010                                      |   |   | 2009 |   |
|                                                                                                                                                 |   | (In millions, exceptoperating statistics) |   |
| Revenues                                                                                                                                             |   | $                                         | 59.8   |   |   | $ | 50.0 |   |
| Operating expenses                                                                                                                                   |   |                                      | (19.5  | ) |   |   | (15.2 | ) |
| Earnings from equity investments                                                                                                                     |   |                                      | 0.4    |   |   |   | 0.3 |   |
| Interest income and Other, net-income                                                                                                                |   |                                      | 5.8    |   |   |   | 0.7 |   |
| Income tax expense(a)                                                                                                                                |   |                                      | (1.5   | ) |   |   | (16.3 | ) |
| Earnings before depreciation, depletion and amortization expense and amortization of excess cost of equity investments |   | $                                         | 45.0   |   |   | $ | 19.5 |   |
|                                                                                                                                                 |   |                                      |   |   |   |   |   |   |
| Transport volumes (MMBbl)(b)                                                                                                                         |   |                                      | 23.8   |   |   |   | 22.5 |   |

| (a) | 2009 amount includes a $14.9 million increase in expense primarily due to certain non-cash regulatory accounting adjustments to Trans Mountain’s carrying amount of the previously established deferred tax liability. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | Represents Trans Mountain pipeline system volumes.                                                                                                                                                                           |

|                                 |   | EBDAincrease/(decrease)           |   |   | Revenuesincrease/(decrease) |   |
|--------------------------------------|--------|-----------------------------------|--------|--------|-----------------------------|--------|
|                                 |   | (In millions, except percentages) |   |
| Trans Mountain Pipeline              |   | $                                 | 9.6    |   |                        |   | 32 | % |   | $ | 9.0 |   |   |   | 18 | % |
| Jet Fuel Pipeline                    |   |                              | 0.9    |   |                        |   | 226 | % |   |   | 0.8 |   |   |   | 107 | % |
| Express Pipeline                     |   |                              | 0.1    |   |                        |   | 3 | % |   |   | - |   |   |   | - |   |
| Total Kinder Morgan Canada–KMP |   | $                                 | 10.6   |   |                        |   | 31 | % |   | $ | 9.8 |   |   |   | 20 | % |

|                                       |   | Three Months EndedMarch 31, |   |
|--------------------------------------------|--------|-----------------------------|--------|
|                                       |   | 2010                        |   |   | 2009 |   |
|                                       |   | (In millions)               |   |
| Earnings (loss) from equity investments(a) |   | $                           | (419.6 | ) |   | $ | 12.3 |   |

| (a) | Includes a non-cash investment impairment charge, which we recorded in the amount of $430.0 million; see Note 2 of the accompanying Notes to Consolidated Financial Statements. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                               | Three Months EndedMarch 31, |   |
|----------------------------------------------------|-----------------------------|--------|
|                                               | 2010                        |   | 2009 |   |
|                                               | (In millions)               |   |
| Revenues(a)                                        |                        | $      | 2.8 |   |   | $ | 6.6 |   |
| Operating expenses and noncontrolling interests(a) |                        |   | (1.6 | ) |   |   | (5.5 | ) |
| Segment earnings before DD&A                   |                        | $      | 1.2 |   |   | $ | 1.1 |   |

| (a) | Upon the adoption of Accounting Standards Update No. 2009-17, which amended the codification’s “Consolidation” topic, on January 1, 2010, Triton Power Company LLC is no longer consolidated into our financial statements, but is treated as an equity investment. This resulted in decreases to 2010 revenues, operating expenses and noncontrolling interests with no impact to segment earnings before DD&A as compared to 2009. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                   |   | Three Months EndedMarch 31, |   |
|--------------------------------------------------------|--------|-----------------------------|--------|
|                                                   |   | 2010                        |   |   | 2009 |   |
|                                                   |   | (In millions)               |   |
| Kinder Morgan, Inc. general and administrative expense |   | $                           | (14.6  | ) |   | $ | (10.4 | ) |
| KMP general and administrative expense                 |   |                        | (101.1 | ) |   |   | (82.5 | ) |
| Consolidated general and administrative expense        |   | $                           | (115.7 | ) |   | $ | (92.9 | ) |
|                                                   |   |                        |   |   |   |   |   |   |
| Interest, net                                          |   | $                           | (150.6 | ) |   | $ | (142.0 | ) |
| Other, net(a)                                          |   |                        | (5.2   | ) |   |   | (8.3 | ) |
| Unallocable interest and other, net                    |   | $                           | (155.8 | ) |   | $ | (150.3 | ) |

| (a) | “Other, net” primarily represents offset to interest income shown above and included in segment earnings. |
|-----|-----------------------------------------------------------------------------------------------------------------------|

----

----

----

----

|                                                            |   | At March 31, 2010         |   |
|-----------------------------------------------------------------|--------|---------------------------|--------|
|                                                            |   | Short-termdebtoutstanding |   |   | Availableborrowingcapacity |   |
|                                                            |   | (In millions)             |   |
| Credit Facilities                                               |   |                      |   |   |   |   |
| Kinder Morgan, Inc.                                             |   |                      |   |   |   |   |
| $1.0 billion, six-year secured revolver, due May 2013           |   | $                         | 112.6  |   |   | $ | 817.2 |   |
|                                                       |   |                      |   |   |   |   |   |   |
| KMP                                                             |   |                      |   |   |   |   |   |   |
| $1.79 billion, five-year unsecured revolver, due August 2010(a) |   | $                         | 740.0  |   |   | $ | 793.4 |   |

| (a) | KMP plans to negotiate a renewal of its bank credit facility before its maturity date. |
|-----|----------------------------------------------------------------------------------------|

----

|                                      |   | Three Months EndedMarch 31, |   |   |   |   |
|-------------------------------------------|--------|-----------------------------|--------|--------|--------|--------|
|                                      |   | 2010                        |   |   | 2009   |   |   | Increase(Decrease) |   |
|                                      |   | (In millions)               |   |
| Net cash provided by (used in):           |   |                        |   |   |   |   |   |   |   |
| Operating activities                      |   | $                           | 438.7  |   |   | $      | 213.3 |   |   | $ | 225.4 |   |
| Investing activities                      |   |                        | (498.3 | )      |   |   | (500.8 | ) |   |   | 2.5 |   |
| Financing activities                      |   |                        | 34.5   |   |   |   | 280.3 |   |   |   | (245.8 | ) |
|                                      |   |                        |   |   |   |   |   |   |   |   |   |   |
| Effect of exchange rate changes on cash   |   |                        | (3.4   | )      |   |   | (0.9 | ) |   |   | (2.5 | ) |
|                                      |   |                        |   |   |   |   |   |   |   |   |   |   |
| Net increase in cash and cash equivalents |   | $                           | (28.5  | )      |   | $      | (8.1 | ) |   | $ | (20.4 | ) |

|   | ▪ | a $107.0 million increase in cash from overall higher net income after adjusting for non-cash items, including a $430.0 million pre-tax impairment charge on our investment in NGPL PipeCo and a $158.0 million expense related to rate case liability adjustments, both recorded in the first quarter of 2010.  The period-to-period increase in net income from our seven reportable business segments in the first three months of 2010 versus the first three months of 2009 is discussed above in “—Results of Operations” (including all of the certain items disclosed in the associated table footnotes); |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | a $268.1 million increase in cash inflows relative to net changes in working capital items, primarily driven by (i) a $138.3 million decrease in cash used for income tax payments, net of refunds, (ii) a $91.6 million increase in cash from the collection and payment of trade and related party receivables and payables and (iii) a $22.0 million increase in cash due to higher reductions, in the first quarter of 2009, in KMP’s deferred revenue obligations.  These increases in cash inflows were partially offset by a $15.3 million decrease in cash due to higher interest payments in the first quarter of 2010 (net of interest collections), mainly due to higher average borrowings (partially offset by lower average interest rates and by interest received in the first quarter of 2010 relating to an interest rate swap agreement) relative to the first quarter a year ago; and |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | a $144.4 million decrease in cash from an interest rate swap termination payment KMP received in January 2009, when it terminated a fixed-to-variable interest rate swap agreement having a notional principal amount of $300 million and a maturity date of March 15, 2031. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | a $193.8 million decrease in cash used for capital expenditures—largely due to the higher investment undertaken in the first quarter of 2009 to construct KMP’s Kinder Morgan Louisiana Pipeline and to expand and improve the Terminals-KMP business segment; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | a $38.2 million decrease in cash used due to lower contributions to equity investees in the first quarter of 2010.  The decrease was driven by a $40.5 million decrease in combined contributions made to Rockies Express Pipeline LLC, Midcontinent Express Pipeline LLC, and Fayetteville Express Pipeline.  In the first |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | ▪ | quarter of 2010, KMP contributed $130.5 million to Rockies Express Pipeline LLC and during the first quarter last year, KMP contributed a combined $171.0 million to these three pipeline projects; |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | a $23.8 million decrease in cash used due to lower period-to-period payments for margin and restricted deposits largely associated with KMP’s energy commodity hedges in the first quarter of 2010, when compared to the first quarter of 2009; |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | a $14.2 million decrease in cash used due primarily to higher net proceeds received in the first quarter of 2010 from property casualty insurance settlements related both to assets damaged during the 2008 hurricane season and to a vessel dock damaged at KMP’s International Marine Terminals facility in March 2008; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | a $73.9 million increase in cash due to higher capital distributions (distributions in excess of cumulative earnings) received from equity investments in the first quarter of 2010—chiefly due to incremental capital distributions of $47.6 million received from KMP’s equity investment in Rockies Express Pipeline LLC and $16.6 million received from our equity investment in NGPL PipeCo LLC in excess of cumulative earnings from each equity investment; |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | a $225.8 million increase in cash used for the acquisition of assets and investments.  The increase was driven by the $115.7 million in cash KMP paid to acquire three unit train ethanol handling terminals from US Development Group LLC in January 2010, and by the $97.0 million KMP paid to acquire certain terminal assets from Slay Industries in March 2010 (both acquisitions are discussed further in Note 2 to the Notes to Consolidated Financial Statements); |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | a $98.1 million increase in cash used due to repayments KMP received, in the first quarter of 2009, from a $109.6 million loan it made in December 2008 to a single customer of its Texas intrastate natural gas pipeline group.  KMP received the remaining $11.5 million loan balance in the second quarter of 2009; and |
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|   | ▪ | a $17.5 million increase in cash used resulting from the deconsolidation of Triton Power Company LLC from our consolidated financial statements upon the adoption of Accounting Standards Update No. 2009-17, which amended the codification’s “Consolidation” topic, on January 1, 2010.  Triton Power Company LLC is now treated as an equity investment (see Note 13 of the Notes to the Consolidated Financial Statements). |
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|   | ▪ | a $287.9 million decrease in cash provided by noncontrolling interest contributions primarily reflecting the $287.9 million in combined proceeds received by KMP for the issuance of approximately 6.3 million common units in the first three months of 2009; |
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|   | ▪ | a $100.0 million increase in cash used to pay dividends; |
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|   | ▪ | a $25.0 million increase in cash used for noncontrolling interest distributions, primarily due to an increase in KMP’s cash distributions to its common unit owners; |
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|   | ▪ | a $154.1 million increase in cash from overall debt financing activities—which include issuances and payments of debt and debt issuance costs.  The increase in cash in the first quarter of 2010 was driven by (i) $90.3 million in net incremental borrowings under Kinder Morgan, Inc.’s bank credit facility and (ii) the $250.0 million KMP paid on February 1, 2009 to retire the principal amount of its 6.30% senior notes that matured on that date.  Incremental borrowings under KMP’s commercial paper program in the first quarter of 2010 were largely offset by lower net borrowings under its bank credit facility; and |
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|   | ▪ | a $14.8 million increase in cash from net changes in cash book overdrafts—resulting from timing differences on checks issued but not yet presented for payment. |
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|   | ▪ | price trends and overall demand for natural gas liquids, refined petroleum products, oil, carbon dioxide, natural gas, electricity, coal, steel and other bulk materials and chemicals in North America; |
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|   | ▪ | economic activity, weather, alternative energy sources, conservation and technological advances that may affect price trends and demand; |
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|   | ▪ | changes in tariff rates charged by our or those of KMP’s pipeline subsidiaries implemented by the Federal Energy Regulatory Commission, or other regulatory agencies or the California Public Utilities Commission; |
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|   | ▪ | our ability to acquire new businesses and assets and integrate those operations into our existing operations, as well as the ability to expand our facilities; |
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|   | ▪ | difficulties or delays experienced by railroads, barges, trucks, ships or pipelines in delivering products to or from KMP’s terminals or pipelines; |
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|   | ▪ | our ability to successfully identify and close acquisitions and make cost-saving changes in operations; |
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|   | ▪ | shut-downs or cutbacks at major refineries, petrochemical or chemical plants, ports, utilities, military bases or other businesses that use our services or provide services or products to us; |
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|   | ▪ | changes in crude oil and natural gas production from exploration and production areas that we or KMP serve, such as the Permian Basin area of West Texas, the U.S. Rocky Mountains and the Alberta, Canada oil sands; |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | changes in laws or regulations, third-party relations and approvals, and decisions of courts, regulators and governmental bodies that may adversely affect our business or ability to compete; |
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|   | ▪ | changes in accounting pronouncements that impact the measurement of our results of operations, the timing of when such measurements are to be made and recorded, and the disclosures surrounding these activities; |
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|   | ▪ | our ability to offer and sell equity securities, and KMP’s ability to offer and sell equity securities and its ability to sell debt securities or obtain debt financing in sufficient amounts to implement that portion of our or KMP’s business plans that contemplates growth through acquisitions of operating businesses and assets and expansions of facilities; |
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|   | ▪ | our indebtedness, which could make us vulnerable to general adverse economic and industry conditions, limit our ability to borrow additional funds and/or place us at competitive disadvantages compared to our |
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|   |   | competitors that have less debt or have other adverse consequences; |
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|   | ▪ | interruptions of electric power supply to our facilities due to natural disasters, power shortages, strikes, riots, terrorism, war or other causes; |
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|   | ▪ | our ability to obtain insurance coverage without significant levels of self-retention of risk; |
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|   | ▪ | acts of nature, sabotage, terrorism or other similar acts causing damage greater than our insurance coverage limits; |
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|   | ▪ | capital and credit markets conditions, inflation and interest rates; |
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|   | ▪ | the political and economic stability of the oil producing nations of the world; |
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|   | ▪ | national, international, regional and local economic, competitive and regulatory conditions and developments; |
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|   | ▪ | our ability to achieve cost savings and revenue growth; |
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|   | ▪ | foreign exchange fluctuations; |
|--------|---------|--------------------------------|

|   | ▪ | the timing and extent of changes in commodity prices for oil, natural gas, electricity and certain agricultural products; |
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|   | ▪ | the extent of KMP’s success in discovering, developing and producing oil and gas reserves, including the risks inherent in exploration and development drilling, well completion and other development activities; |
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|   | ▪ | engineering and mechanical or technological difficulties that KMP may experience with operational equipment, in well completions and workovers, and in drilling new wells; |
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|   | ▪ | the uncertainty inherent in estimating future oil and natural gas production or reserves that KMP may experience; |
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|   | ▪ | the ability to complete expansion projects on time and on budget; |
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|   | ▪ | the timing and success of KMP’s and our business development efforts; and |
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|   | ▪ | unfavorable results of litigation and the fruition of contingencies referred to in Note 11 of the accompanying Notes to Consolidated Financial Statements. |
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|   | 4.1   | —     | Certain instruments with respect to the long-term debt of Kinder Morgan, Inc. and its consolidated subsidiaries that relate to debt that does not exceed 10% of the total assets of Kinder Morgan, Inc. and its consolidated subsidiaries are omitted pursuant to Item 601(b) (4) (iii) (A) of Regulation S-K, 17 C.F.R. sec.229.601. Kinder Morgan, Inc. hereby agrees to furnish supplementally to the Securities and Exchange Commission a copy of each such instrument upon request.  |
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|   | 31.1* | —     | Certification by CEO pursuant to Rule 13a-14 or 15d-14 of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                      |
|   | 31.2* | —     | Certification by CFO pursuant to Rule 13a-14 or 15d-14 of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                      |
|   | 32.1* | —     | Certification by CEO pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                            |
|   | 32.2* | —     | Certification by CFO pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                                 |

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|    | KINDER MORGAN, INC. |
|--------------|---------------------|
|    |                |   | Registrant |

| Date: May 10, 2010 |   |   |   | By:    |   | /s/ Kimberly A. Dang                                                                                   |
|--------------------|--------|--------|--------|--------|--------|--------------------------------------------------------------------------------------------------------|
|               |   |   |   |   |   | Kimberly A. DangVice President and Chief Financial Officer(Principal Financial and Accounting Officer) |

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