el paso 05_22%20Yardley_MLP%20Investor%20Confr_FINAL(Web)

El Paso Pipeline Partners

James C. YardleyPresident & Chief Executive Officer

El Paso Pipeline GP Company, L.L.C.

2008 MLP Investor ConferenceMay 22, 2008

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Cautionary StatementRegarding Forward-Looking Statements

This presentation includes forward-looking statements and projections, made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. El Paso Pipeline Partners has made every reasonable effort to ensure that the information and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this presentation, including, without limitation, the ability to obtain necessary governmental approvals for proposed pipeline projects and to successfully construct and operate such projects; operating hazards, natural disasters, weather-related delays, casualty losses and other matters beyond our control; the risks associated with recontracting of transportation commitments; regulatory uncertainties associated with pipeline rate cases and other tariff filings; actions taken by third-party operators, processors and transporters; conditions in geographic regions or markets served by El Paso Pipeline Partners and its affiliates and equity investees or where its operations and affiliates are located; the effects of existing and future laws and governmental regulations; competitive conditions in our industry; changes in the availability and cost of capital; and other factors described in El Paso Pipeline Partners’ (and its affiliates’) Securities and Exchange Commission filings. While these statements and projections are made in good faith, El Paso Pipeline Partners and its management cannot guarantee that anticipated future results will be achieved. Reference must be made to those filings for additional important factors that may affect actual results. El Paso Pipeline Partners assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made, whether as a result of new information, future events, or otherwise.

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Investment Highlights

El Paso is the premier U.S. natural gas pipeline companyAlignment of interests (67% ownership + IDRs)

Strategic growth vehicle for El PasoWell located, high-quality assetsSignificant contracted organic growth projects Growth through potential acquisitions - third party, drop down or both

90%+ revenue from capacity reservation chargesAverage contract life of more than 8 years

Financial Flexibility Strong and flexible financial position

Strong Sponsorship

Growth Vehicle

Stable CashFlow

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MLP OpportunitiesC

ash

Flow

Sta

bilit

y

Asset LifeLow High

InterstatePipelines

Price stability Long-term firm demand contractsStable asset base

Majority of alternative MLP’s

Low

Hig

h

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El Paso Pipeline PartnersPrimary focus is natural gas transmission and storage assetsThree FERC regulated interstate pipelines:

100% of WIC: 800 miles, 2.7 Bcf/d10% of CIG: 4,000 miles, 3.0 Bcf/d10% of SNG: 7,600 miles, 3.7 Bcf/d

Demand-based revenues from high- quality customers with strong credit profilesSeveral organic expansions underway

Diverse, growing supply regions High connectivity to growing demand regions

SNGWICCIG

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Sponsor Committed to Growth

28,437,786 EPB Common Units27,727,411 EPB Subordinated Units

GP interest and incentive distribution rights

33.2% LP

Public Unitholders28,756,250 EPBCommon Units

64.8% LP2.0% GP

Organic projects

Third-party acquisitions

Drop downs from El PasoMost pipeline assets suitable for MLP$2.4 billion NOL at December 31, 2007

Commitment to Growth

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Stable Cash Flow

Capacity Reservation ChargesVariable ChargesInterruptible Contracts

WIC CIG SNG2007 Revenue Composition*

98.1%1.3%0.6%

89.3%7.0%3.7%

88.3%7.4%4.3%

Weighted Average Contract Life

10 years 5 years 6 years

Capacity reservation charges result in cash flow stability

*Excludes liquids and fuel retention revenues

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Best Positioned AssetsChanges 2007–2016 (Bcf/d)

Source: El Paso Corporation

-2.0

-1.10.6-0.8

-1.3-1.0-0.7

-1.0

1.5

3.8 0.6

1.1

2.20.42.7

1.20.64.9

2.1

5.6

0.4

0.6

9

Rockies Production Growth19

9019

9119

9219

9319

9419

9519

9619

9719

9819

9920

0020

0120

0220

0320

0420

0520

0620

0720

0820

0920

1020

1120

1220

1320

1420

1520

16

DenverPiceanceUintaPowder RiverOverthrustGreen RiverWind RiverBig Horn

Forecast by 2016 (Bcf/d):

High Case 13.3Mid Case 11.9Low Case 10.4

Forecast

1990–2006: Wellhead total data from HIS database2007–2016: El Paso forecast

14

12

10

8

6

4

2

0

+3 Bcf/d

Wellhead Volumes in Bcf/d

10Note: $ in each column represents costs for each project, shown in the year of expenditure;

As of March 31, 2008

Committed Expansion Projects

$32432

$430156

100% ShareNet to EPB

Cypress IIISESHSS III

Cypress (II&III)SESHSS III

SNG

High PlainsTotem Storage

CIG

Kanda LateralMedicine Bow

Piceance Basin

WIC2010 & Beyond2008–2009

Solid inventory of organic growth

$ Millions

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Wyoming Interstate Company—WICOrganic Growth

Nearly $100 MM of committed growth projects

Powder RiverBasin

Opal Hub

Greasewood Compressor

Station

Douglass Compressor

Station

Contracted Capacity

Contracted Capacity

WIC Medicine Bow Expansion

$37 MMSeptember 2008

330 MMcf/d

WIC Piceance Lateral$62 MM4Q 2009

220 MMcf/d

Midpoint Compression

Station

UintaBasin

PiceanceBasin

Cheyenne Hub

Greater GreenRiver Basin

UT

WY

CO

Wamsutter Compression

Station

Note: As of March 31, 2008

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Colorado Interstate Gas—CIGOrganic Growth

CIG High Plains Pipeline

$198 MM (100%)November 2008

900 MMcf/d

CIG Totem Storage$133 MM (100%)

July 2009200 MMcf/d

Major HubsCIG Storage FieldsHigh PlainsCIG

Anadarko Basin

DJ Basin

Powder RiverBasinWind River

Basin

Greater GreenRiver Basin

Overthrust Basin

UintaBasin

PiceanceBasin

Beaver Compressor

Station

Cheyenne Hub

UT

CO

NE

WY SD

KS

RatonBasin

$166 MM of CIG committed growth projects, $17 MM net to EPB

NM

Opal Hub

Note: As of March 31, 2008

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Southern Natural Gas—SNGOrganic Growth

SNG SESH—Phase I$150 MMJuly 2008

140 MMcf/d

SNG South System III/ SESH Phase II

$285 MM / $35 MM2010–2012

370 MMcf/d / 350 MMcf/d

SNG CypressPhase II & III

$20 MM / $85 MMMay 2008 / January 2011115 MMcf/d / 160 MMcf/d

$575 MM of committed growth projects, $58 MM net to EPB

Note: As of March 31, 2008

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Strong Financial Position

Cash and cash equivalents

Revolving borrowingsCapital lease obligations

Total debtPartners’ capital

Total capitalization

Credit StatisticsDebt/capitalization

$ 9

4958

503408

$911

55%

March 31, 2008

$ Millions

Well positioned for future growth

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The MLP to Own

Diverse, growing supply regions

WICCIG SNG

Strong sponsorshipStable cash flowGrowth vehicleFinancial flexibility

High connectivity to growing demand regions

El Paso Pipeline Partners

James C. YardleyPresident & Chief Executive Officer

El Paso Pipeline GP Company, L.L.C.

2008 MLP Investor ConferenceMay 22, 2008

Appendix

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El Paso Pipeline Group

Source: El Paso Corporation based on 2007 dataNote: Includes El Paso Corporation and El Paso Pipeline Partners, L.P.

El PasoNatural Gas

Mexico Ventures

MojavePipeline

ColoradoInterstate Gas

Wyoming Interstate

Cheyenne Plains Pipeline

TennesseeGas Pipeline

SouthernNatural Gas

Florida GasTransmission (50%)

Elba IslandLNG

19% of total U.S. interstate pipeline mileage24 Bcf/d capacity (16% of total U.S.)17 Bcf/d throughput (28% of gas delivered to U.S. consumers)

Gulf LNG(50%)

North America’s Leading Natural Gas Pipeline Franchise