The document summarizes El Paso Pipeline Group, a leading natural gas pipeline operator in North America. It highlights the company's broad network of pipelines, strong connectivity to markets and supply basins, and $4 billion growth project backlog. The summary also notes the company's focus on key regions like the Northeast, Southeast, Rockies, and Southwest, and its strategy of leveraging LNG experience through Gulf LNG and Elba Island terminal projects.

1. Pipeline Group

2. Strong and Growing
Broad market presence: Growing demand
regions, key supply basins, LNG terminals
Excellent connections to markets and supply
Almost $4 billion of committed growth
projects with attractive risk/return profile
6%–8% long-term EBIT growth
29

3. El Paso Pipeline Group
North America’s Leading Natural Gas Pipeline Franchise
Tennessee
Wyoming Gas Pipeline
Colorado
Interstate
Interstate Gas
Cheyenne
Mojave
Plains Pipeline
Pipeline
Southern
Natural Gas
Elba Island
El Paso
LNG
Natural Gas
Mexico
Florida Gas
Ventures Gulf LNG
Transmission (50%)
(50%)
19% of total U.S. interstate pipeline mileage
24 Bcf/d capacity (16% of total U.S.)
17 Bcf/d throughput (28% of gas delivered to U.S. consumers)
Source: El Paso Corporation based on 2007 data
Note: Includes El Paso Corporation and El Paso Pipeline Partners, L.P.
30

4. 2007 Highlights
EBIT: 7% growth (YOY)
Pipeline integrity program: 75% complete
Organic growth: Six projects placed in-service,
backlog increased from $2 billion to $4 billion
Acquisitions (divestitures): Gulf LNG purchase,
(closed ANR sale)
Successful IPO: El Paso Pipeline Partners MLP
31

5. Our Pipelines Access
Best Markets and Supply
2007–2016 Growth in Bcf/d
Canada
Canadian
-3.5
LNG
+1
Rockies
Supply
Northeast
+2.9
Demand
+2.0
Rockies & Southwest
Demand
+1.2
Elba
Southeast
LNG
Demand
+1.2
+3.6
Mexico
Demand
+1.8
Gulf of
Mexico LNG
Mexico +5.6
LNG
+1.5
Source: El Paso Corporation
32

6. Continued Throughput Increase
% Increase 2007 vs. 2005
TGP 10%
SNG 18%
Unchanged
EPNG
CIG 31%
14% overall increase
Note: CIG includes Colorado Interstate Gas, Cheyenne Plains and Wyoming Interstate
EPNG includes El Paso Natural Gas and Mojave
33

7. The High Value of
“Last Mile” and “First Mile” Service
Integrated with Point-to-Point Integrated with
Suppliers Transportation Markets
Pipeline
LDC Citygate
Storage
Storage
Market
Supply
LNG
Wellheads
Hub
Hub
Direct Connects
(Industrial, Power Gen)
Processing
Pipelines
Commodity
High Value High Value
Service
34

8. Excellent Connectivity in Markets
ID VT
SD
NH
WY NE
Boston
MA
NY
RI
CT
Denver
UT
CO
NJ New York
PA
66 supply meters in the Rockies
110 delivery meters along the Front Range 97 delivery meters into 26 LDCs
UT SC
NV
Atlanta
Birmingham
CA AZ NM
Phoenix GA
AL
FL
155 delivery meters into Alagasco and AGL
348 delivery meters in Arizona Also, FGT deep connectivity in Florida 35

9. Revenue Stability
$ Millions
$2,500
$2,250
2007 reservation revenue
$2,000
Usage and other revenue
$1,750
$1,500
$1,250
77%
$1,000
$750
$500
86%
61%
$250 86% 93%
86%
$0
Total TGP SNG EPNG CIG FGT
1Q 4Q 2Q
Projected effective dates 3Q
2009 2011 2010
for next rate case N/A 2009
Reservation as a % of total revenue increases over time
Note: CIG includes Colorado Interstate Gas, Cheyenne Plains and Wyoming Interstate; EPNG includes
El Paso Natural Gas and Mojave; SNG includes Elba Island
36

10. Contract Stability
Thousands of Dth/d as of December 2007
40%
11,000
9,740
10,000
9,000
8,000
7,000
6,000
16%
5,000 14% 3,909
11%
4,000 3,388
11%
2,755
8% 2,539
3,000
1,836
2,000
1,000
0
2008 2009 2010 2011 2012 Beyond
Average remaining contract term: 5.4 years
37

11. Northeast Focus
Volume Change from 2007–2016
TGP Position
Excellent connectivity in Canada
-1 Bcf/d
NE/upstate NY
Excellent supply access to TGP Concord
diverse sources $21 MM
Nov 2009 LNG
Organic expansions 30 MMcf/d +1 Bcf/d
ConneXion NY/NJ (2006)
ConneXion NE (2007)
Well placed to bring new TGP
supplies into region, especially
NYC area
Appalachia supply potential
Region
Demand
NE Passage
+ 2 Bcf/d
+2 Bcf/d
Source: El Paso Corporation
38

12. Southeast Focus
Volume Change from 2007–2016
+ 4 Bcf/d
Region
Demand
SNG/FGT Position + 3.5 Bcf/d
Excellent connectivity TGP
Elba a unique asset to
SNG
capture growth
Elba Island
Gulf LNG well-placed
Numerous storage
opportunities + 4 Bcf/d
LNG
+ 1 Bcf/d
Gulf LNG
FGT
LNG
+ 5.5 Bcf/d
Source: El Paso Corporation
39

13. Coal Fired Power Generation
Losing Favor
Cancelled 5 GW
Retired 1
Converted to gas 2
Total 8 GW
Represents approx. 1 Bcf/d
future gas demand
Source: Global Energy Intelligence—Velocity Suite 40

14. Southeast Growth Projects
SNG SESH—Phase I
$150 MM
SNG South System III/
July 2008
SESH Phase II
140 MMcf/d
$285 MM / $35 MM Elba Expansion III & Elba Express
2010–2012 $1.1 Billion
TGP Carthage Expansion 370 MMcf/d / 350 MMcf/d 2010–2013
$39 MM 8.4 Bcf / 0.9 Bcf/d & 1.2 Bcf/d
May 2009
100 MMcf/d
TGP Bluewater/800 Line
Expansion
$25 MM SNG Cypress
November 2008 Phase II & III
340 MMcf/d $20 MM / $85 MM
May 2008 / January 2011
Gulf LNG
115 MMcf/d / 160 MMcf/d
$1.1 Billion (100%)
October 2011
6.6 Bcf / 1.3 Bcf/d
FGT Phase VIII Expansion
$2+ Billion (100%)
2011
800 MMcf/d
41

15. Leveraging LNG Experience
Elba Island LNG Gulf LNG
Savannah, GA Pascagoula, MS
$1.1 billion terminal expansion and $1.1 Billion (100%); 50% EP
Elba Express Pipeline $870 MM non-recourse financing
8.4 Bcf incremental storage capacity completed
0.9 Bcf/d incremental send-out capacity 1.3 Bcf/d base sendout
Fully contracted with Shell and BG Fully contracted with Angola LNG and ENI
EPC with CBI EPC with Aker Kvaerner
Current expansion will double facility 2011 In-service
Investing more than $2 billion on LNG and related projects
42

16. FGT Phase VIII Added to
Committed Backlog
AL Proposed Pipeline Expansion
GA FGT
$2+ billion (100%)
50% EP, 50% SUG
500 miles
FL
800 MMcf/d capacity
PA with FPL for 400 MMcf/d
for 25-year term
2011 in-service
43

17. Southwest Focus
Volume Change from 2007–2016
+0.5 Bcf/d
-0.2 Bcf/d
Las Vegas
Mojave
EPNG
EPNG Position
Los Angeles
Excellent connectivity to
Phoenix market +0.5 Bcf/d
Supply diversity; Region
Phoenix
excellent supply basin Demand
connectivity
+ 0.8 Bcf/d
Significant Mexico cross
border opportunities
Storage play Net from Mexico*
+1 Bcf/d
*Net change into/out of region
Source: El Paso Corporation 44

18. Rockies Focus
CIG
WIC
Big Horn
Cheyenne Plains
Green River
CIG, WIC, CP Supply Position
Powder River
Attached to all growth basins
Many solely connected Wind River
supply sources
WIC is lowest cost pipe Opal
Cheyenne
CIG Front Range Position
Serves nearly the entire
Front Range demand Denver
Denver-
Uinta
Well connected to storage Piceance Julesburg
facilities
Strong customer linkage
San Juan
Raton
Source: El Paso Corporation 45

19. Rockies Production Growth
Wellhead Volumes in Bcf/d
14
Forecast
Denver
+3 Bcf/d
12 Piceance
Uinta
Powder River
10
Overthrust
Green River
8 Wind River
Big Horn
6
Forecast by 2016 (Bcf/d):
4
High Case 13.3
Mid Case 11.9
2
Low Case 10.4
0
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
1990–2006: Wellhead total data from HIS database
2007–2016: El Paso forecast 46

20. Rockies Growth Projects
Volume Change from 2007–2016 CIG
WIC
WIC Medicine Bow Cheyenne Plains
Expansion
$37 MM
September 2008
330 MMcf/d
Ruby
PIpeline
~ 1.5 to 2.0
Opal Bcf/d
Cheyenne
~ 1.0 to 1.5
Bcf/d
CP Coral Expansion
CIG High Plains Pipeline
$23 MM
$198 MM (100%)
July 2008
November 2008
70 MMcf/d
900 MMcf/d
CIG Totem Storage
$139 MM (100%)
WIC Piceance Lateral
July 2009
$62 MM
200 MMcf/d
4Q 2009
220 MMcf/d
Source: El Paso Corporation 47

21. El Paso Backlog: Large and Profitable
Capex EBITDA (run rate)* Multiple
$3.9 billion $0.6 billion 7x
WIC Medicine Bow
Expansion TGP Concord
$37 MM $21 MM
Sep 2008 Nov 2009
330 MMcf/d 30 MMcf/d
CIG High Plains Pipeline WIC Piceance
$198 MM (100%) Lateral
November 2008 $62 MM Elba Expansion III & Elba
900 MMcf/d 4Q 2009 Express
CP Coral Expansion
220 MMcf/d $1.1 Billion
$23 MM
CIG Totem Storage SNG SESH –Phase I 2010–2013
July 2008
$139 MM (100%) $150 MM 8.4 Bcf / 0.9 Bcf/d & 1.2 Bcf/d
70 MMcf/d
July 2009 Jul 2008
200 MMcf/d 140 MMcf/d
SNG Cypress Phase II & III
$20 MM/$85 MM
May 2008 / Jan 2011
115 MMcf/d / 160 MMcf/d
TGP Bluewater / 800 Ln Exp
$25 MM
SNG South System III/
Nov 2008
TGP Carthage SESH Phase II
340 MMcf/d
Expansion $285 MM / $35 MM
$39 MM
2010–2012
May 2009 Gulf LNG 370 MMcf/d / 350 MMcf/d
100 MMcf/d $1.1 Billion (100%)
Oct 2011
El Paso Pipeline Partners, LP 6.6 Bcf / 1.3 Bcf/d
FGT Phase VIII
Expansion
El Paso Pipeline $2+ Billion (100%)
2011
800 MMcf/d
*EBITDA based on pro-rata basis
Note: As of March 31, 2008; El Paso Pipeline Partners owns 10% of SNG & CIG 48

22. De-risking of Backlog Capital Costs
Typical Pipeline Capex Breakdown
30%–35% 35%–40% 25%–35%
Pipe Contractor-related Right-of-way
Other
Primary Party
$ Billion At-Risk for Capex
$1.7 Contractor
0.8 Customer
1.4 El Paso
$3.9
49

23. Managing Execution
Backlog mostly lower risk organic projects
Reasonable lead times
EP’s size/scale alliances with pipe mills/contractors
Experienced project managers (28 yrs. avg.)
EVA-like “value creation” compensation
Solid track record
50

24. Solid Track Record
Projects Completed in 2005–2007
Actual Capex EBITDA (run rate)* Multiple
$ 1.6 billion $220 million 7x
11% capex increase vs. original budget in
challenging environment
ConneXion NE
Kanda Lateral
Yuma County
Sta 317 HP
Piceance Lateral
ConneXion
NY/NJ
Cheyenne Plains
Raton Exp I
Raton Exp II
Elba II
Cypress Phase I
LPG Burgos
Triple T
LA Deepwater
Link
*Estimated EBITDA run rate based on pro rata basis 51

25. Large Projects in Development
Northeast Passage
$2+ billion (100%)
1.1 Bcf/d capacity
2012 In-service
Joint development with Equitable
Ruby Project
$2+ billion (100%)
1.2 Bcf/d capacity
2011 In-service
PAs with PGE & 2 others
Joint ownership
Potential $4+ billion capex (100%)
Estimate $2+ billion El Paso’s share
Several other organic projects under development
Note: Not included in backlog 52

26. El Paso Pipeline Partners (EPB)
Primary focus is natural gas transmission and
storage assets
Three FERC regulated interstate pipelines:
100% of WIC: 800 miles, 2.7 Bcf/d
10% of CIG: 4,000 miles, 3.0 Bcf/d
10% of SNG: 7,600 miles, 3.7 Bcf/d
Demand-based revenues from high-quality
customers with strong credit profiles
Several organic expansions underway
WIC
SNG
CIG
Diverse, Growing Supply Regions High Connectivity to Growing Markets
53

27. EPB’s Importance to El Paso
Strategic growth vehicle for El Paso
Competitive cost of capital
Growth
Financial flexibility to optimize capital structure
Highlight value of El Paso’s pipeline franchise
Value Assets receive a higher value in MLP structure
Provide strong cash flow
EP and EPB’s interests are aligned
Alignment EP retains 67% ownership (LP and 2.0% GP)
General partnership ownership—IDRs
54

28. Commitment to MLP Growth
Committed to grow
El Paso Pipeline Partners Most pipeline assets
suitable for MLP
Organic
$2.4 billion NOL
Drop downs from El Paso
Review on ongoing basis
Third-party acquisition
Proceeds available for
reinvestment, share buy
backs, debt reduction
El Paso highly incentivized
with unit ownership,
GP interest and IDR
55

29. Leading Pipeline Franchise
Broad market presence
Excellent connectivity
$4 billion backlog: attractive risk/return profile
6%–8% long-term EBIT growth
EPB MLP highlighting value of pipes
56

30. Q&A