Mark Leland Executive Vice President

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Mark LelandExecutive Vice President Chief
Financial Officer

• El PasoWhere Weve Been andWhere Were Going
• NOMADSAugust 10, 2009

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Cautionary Statement RegardingForward-looking
Statements
This presentation includes certain
forward-looking statements and projections. The
company 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, our ability to implement and
achieve our objectives in our 2008 plan,
including achieving our earnings and cash flow
targets changes in reserve estimates based upon
internal and third-party reserve analyses the
effects of any changes in accounting rules and
guidance our ability to meet production volume
targets in our Exploration and Production
segment uncertainties and potential consequences
associated with the outcome of governmental
investigations outcome of litigation our
ability to comply with the covenants in our
various financing documents our ability to
obtain necessary governmental approvals for
proposed pipeline projects and our ability to
successfully construct and operate such projects
the risks associated with recontracting of
transportation commitments by our pipelines
regulatory uncertainties associated with pipeline
rate cases actions by the credit rating
agencies the successful close of our financing
transactions our ability to close our announced
asset sales on a timely basis changes in
commodity prices and basis differentials for oil,
natural gas, and power inability to realize
anticipated synergies and cost savings associated
with restructurings and divestitures on a timely
basis or at all general economic and weather
conditions in geographic regions or markets
served by the company and its affiliates, or
where operations of the company and its
affiliates are located the uncertainties
associated with governmental regulation
political and currency risks associated with
international operations of the company and its
affiliates competition and other factors
described in the company's (and its affiliates')
Securities and Exchange Commission filings While
the company makes these statements and
projections in good faith, neither the company
nor its management can guarantee that anticipated
future results will be achieved. Reference must
be made to those filings for additional important
factors that may affect actual results. The
company assumes no obligation to publicly update
or revise any forward-looking statements made
herein or any other forward-looking statements
made by the company, whether as a result of new
information, future events, or otherwise.
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El Paso Corporation
NileDelta
Sinai
Gulf
Egypt
of
Egypt
Suez
Elba Island
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El Paso Case Study
Fortune 20 Company Market Cap 38B 15,000
employees 20 Businesses
74.50
Fortune 500 Company Market Cap 7B 5,000
employees 2 Core Businesses
10.24
3.45
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How the Story Begins

• El Paso in business for 80 years
• High profile proxy contest mid-2003
• Companys viability in doubt
• Shareholders lacked confidence
• Employee morale low
• New management September 2003

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Building Blocks for Success

• Purpose
• Values
• Vision
• Corporate governance
• Cultural transformation
• Turnaround plan communication and execution

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We Have a Clear Purpose
El Paso Corporation provides natural gas and
related energy products in a safe, efficient, and
dependable manner
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Shared Values anda Vision for the Future
the place to workthe neighbor to havethe
company to own
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Culture Transformation

• From
• Entitlement
• Managers
• Jobs
• Present
• Tactical
• Administrative HR
• Policies Procedures
• HR Programs

• To
• Performance-driven
• Leaders
• Careers
• Engaged
• Strategic
• Partnering HR
• Flexible Solutions
• Leadership Owned

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Its WorkingEmployee Survey Highlights

• How engaged are employees?
• 2004 52
• 2006 73
• 2008 86
• I am proud to work at El Paso
• 2004 42
• 2006 78
• 2008 91

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Aggressively Responding to Challenges

• Challenges
• Difficult capital markets
• Weak natural gas prices
• Actions taken
• Raised significant liquidity
• Financings, MLP drop down, asset sales
• Secured substantial price protectionthrough 2011
• Ruby
• Secured 50 partner
• Hired financial advisor

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Staying Focused On Strategy

• Complete pipeline backlog
• On-time/on-budget
• Maximize returns on EP
• Haynesville
• Altamont
• Continue efficiency gains
• Increase organizational effectiveness
• Mitigate downside risk

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El Paso Pipeline Group
North Americas Leading Natural Gas Pipeline
Franchise
TennesseeGas Pipeline
ColoradoInterstate Gas
Wyoming Interstate
Cheyenne Plains Pipeline
MojavePipeline
SouthernNatural Gas
Elba IslandLNG
El PasoNatural Gas
Mexico Ventures
Gulf LNG(50)
Florida GasTransmission (50)

• 19 of total U.S. interstate pipeline mileage
• 26 Bcf/d capacity (15 of total U.S.)
• 19 Bcf/d throughput (30 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, LP
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Outstanding Pipeline Backlog
Current outlook on-time/on-budget
Ruby Pipeline3 Billion (100) 2011 1.31.5
Bcf/d
TGP Concord 21 MM Nov 2009 30 MMcf/d
TGP 300 Line Project 0.6 Billion 2011 340 MMcf/d
WIC System Expansion 71 MM 2011 320 MMcf/d
Elba Expansion III Elba Express 1.1
Billion 20102014 8.4 Bcf / 0.9 Bcf/d 1.2 Bcf/d
WIC Piceance Lateral 62 MM 4Q 2009 220 MMcf/d
SNG South System III/ SESH Phase II 352 MM / 69
MM 20112012 370 MMcf/d / 350 MMcf/d
CIG Raton 2010 Expansion 146 MM 4Q 2010 130
MMcf/d
FGT Phase VIII Expansion 2.4 Billion
(100) 2011 800 MMcf/d
Gulf LNG 1 Billion (100) 2011 6.6 Bcf / 1.3
Bcf/d
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Note As of August 6, 2009 El Paso Pipeline
Partners owns 25 of SNG 58 of CIG Elba Phase
III B expansion at BGs option
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Elba Expansion
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TGP Appalachian Strategy
NH

• TGP 300 Line Project
• Capital reduced from0.75 billion to 0.6
  billion
• FERC application filed in July
• 342 MMcf/d capacity
• Potential future expansions

VT
Potential Marcellus Interconnects 2 Bcf
MA
NY
CT
RI
PA
NJ
Backhaul

• Capitalizing on Footprint
• 80 MMcf/d backhauls
• 50 MM annual reserve
• No capital
• Future additional opportunities

OH
Marcellus Shale
WV
VA
Well-positioned in growing region
KY
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Top 10 Domestic Independent
Note Based on 2008 data except Egypt acres
include January 2009 transaction with RWE and the
recent South Alamein transaction which is pending
approval by the Ministry of Petroleum
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International Update

• Brazil
• ES-5 Block
• Camarupim development progressfirst export
  scheduled for August
• FPSO commissioning underway
• Pinauna Field
• Spend deferred in line with regulatory approval
  progress
• BM-CAL-5 Block
• Jequitiba well drilledand under evaluation

• Egypt
• South Mariut Block
• Two unsuccessful wells
• South Alamein Block
• Drilled first South Alamein exploration well
  tested hydrocarbons
• Second well currently drilling
• Tanta Block
• 2D seismic acquired

BM-ES-5
CAMARUPIM
?
?
?
?
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El Paso Haynesville Position

• EP Program Statistics
• Net unrisked resource900950 Bcfe
• Net risked resource800900 Bcfe
• Locations 250300
• 40,000 net acres in play
• 30,000 net acres in LA
• Most acreage is held by production

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Haynesville Shale Program Update

• 9 Wells Producing Gross IP (MMcfe/d)
• Miller Land Co 10H 1 4.5
• Travis Lynch GU 4-H 8.0
• RF Gamble 24H 1 14.6
• Blake 10H 1 20.3
• JR Gamble 11H 1 17.8
• Annette Green 22H 1 16.8
• Hamilton 12H 1 14.5
• Weathers 14H 1 22.1
• Ray Oden 35H 1 19.0
• Current Activity
• Drilling Hunt Oil 1H and JR Gamble 21H
• Completing El Paso Mgmt Inc 14H 1,AV Young 7H
  1 and Fingerle 25H 1
• 2 rigs running during remainder of 2009

Currently producing 37 MMcfe/d (net)
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Haynesville Summary
Execution Efficiency
Well Design
Well Productivity
101
13
6.5
4,075
19
6
11
18
3,758
69
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3,534
9
58
8
3
9
First 3 wells Mid 3 wells Last 3 wells
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Summary

• Making great progress on all fronts
• But gas price environment and capital markets
  uncertainty pose challenges
• Will be preparedversus hoping for the best

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Mark LelandExecutive Vice President Chief
Financial Officer

• El PasoWhere Weve Been andWhere Were Going
• NOMADSAugust 10, 2009