Kern River Gas Transmission Company 2021 Customer Meetings Muddy Creek Compressor Station Near Evanston, Wyoming 1 BHE Acquisition of Dominion Energy Gas Transportation and Storage Business ■ Eastern asset acquisition closed Q4 2020 ‒ Carolina Gas Transmission ‒ Eastern Gas Transportation & Storage ‒ Iroquois Gas Transmission System (50% interest) ‒ Cove Point LNG (25% interest) 2 BHE Pipeline Group Post Acquisition 3 Berkshire Hathaway Energy Exceptional Businesses and Assets • 12 million customers worldwide • BHE is the top-rated service provider within the industry • Kern River was ranked #1 in the regional pipeline group for the eleventh straight year and #1 or #2 out of all interstate pipelines for the 13th straight year • BHE OSHA Recordable Incident Rate of 0.51 • Kern River employees have worked more than ten years without a lost-time injury • BHE has 48% renewable/noncarbon generation • Kern River’s 2020 methane emissions was 0.005% - much lower than the industry average of 0.26% • BHE utility rates are below national averages • Kern River rates are a cost-competitive option to Southern California and southern Nevada • BHE has $127.3b in total assets • Exceptional cyber and physical protection • Kern River has had no unplanned interruptions to primary firm customers since May 2012 • BHE 2020 net income > $3.5b • BHE operating cash flows > $6.2b • Kern River has achieved rate stability since 2004 (last rate case) and reduced rates twice since 2014 4 Kern River Commercial Group 5 Kern River System ■ Based in Salt Lake City, Utah ■ 1,718-mile pipeline system, of which 1,340 miles are 36- inch-diameter steel pipe ■ 383,500 compressor horsepower ■ 2.17 Bcf/day design capacity ■ 2.41 MDth/day operating capacity at Veyo in 2020 ■ Access to natural gas supplies in Wyoming, Utah and California via 19 receipt meter stations ■ Serves markets in Utah, Nevada and California via 82 delivery meter stations 6 Mainline Construction History Project In-Service Date Quantity Original System February 1992 724,449 2002 Expansion May 1, 2002 124,500 2003 Expansion May 1, 2003 906,626 2010 Expansion November 1, 2010 145,000 Apex Expansion October 1, 2011 266,000 2,166,575 7 Supply Flow Options Wyoming 5.3 Bcf/d ■ Our customers have access to abundant and cost-competitive supplies Salt Lake ‒ Rockies, Canadian, Permian Salt City and San Juan supplies Lake Goshen connecting to premium City 0.6 markets in Utah, Nevada and Bcf/d California ‒ Freemont Peak allows access to PG&E system supply ‒ 17Z Oxy allows access to CA Las Vegas Oxy 17Z Resources’ Elk Hills supply 0.2 Bcf/d Dag Moj 0.4 Bcf/d Los Freemont Peak Angeles 0.3 Bcf/d 8 System Operations ■ Kern River’s pipeline system is looped from Opal, Wyoming to the Daggett compressor station, except through the Las Vegas area, plus an additional 82 miles – Allows Kern River to bypass sections of the pipeline for maintenance or repair activities while maintaining service on remainder of the system ■ Meter stations – Connected to both the main and loop lines – Meter stations can be fully served by either line ■ Gas control – Staffed 24/7 – Fully functional backup facility located off-site for use during emergency events ■ SCADA – All compressor stations, meter stations and automated mainline valves are remotely monitored and controlled ■ Real-time modeling of the system – Calculates line pack and imports to SCADA system ■ Backhaul – Kern River has back haul flow capabilities from Goshen, Wheeler Ridge, Kramer Junction, Freemont Peak via Sidewinder, PG&E Daggett, and Oxy 17Z to delivery meter stations located in California, Nevada and Utah – Enhances Kern River’s operational reliability and responsiveness to emergency events 9 PHMSA Rulemakings ■ On October 1, 2019, the Pipeline and Hazardous Materials Safety Administration, or PHMSA, published Part 1 of a new rule, also referred to as the “Mega” rule, that applies to pipelines that carry natural gas, oil and other hazardous materials in the U.S. ‒ Part 1, Gas Transmission Rule (effective July 1, 2020) ● Kern River has implemented the required procedural changes ‒ Part 2, Gas Transmission Rule ● Repair criteria, inspections following extreme events, management of change, corrosion control, strengthened assessment requirements ● Awaiting publication in Federal Register ● Minimal impact to Kern River – only minor procedural changes will be required ■ Pipeline Safety: Gas Pipeline Regulatory Reform ‒ Effective March 21, 2021 (on hold until President Biden’s review is complete) ‒ Includes regulatory changes to: ● Monetary threshold for incident reporting ● Annual physical inspection of remote rectifiers ● Strength test requirements for pressure vessels and fabricated assemblies ● Welder requalification requirements ‒ Minimal impact to Kern River – only minor procedural changes will be required 10 System Utilization ■ Received 25% of Rockies natural gas Average Scheduled Volume (Dth/day) supply in 2020 3,000,000 ■ Delivered approximately 25%(1) of California’s demand for natural gas in 2,500,000 2020 2,000,000 ■ Delivered 80%(2) of southern Nevada’s 1,500,000 natural gas in 2020, an average of 1,000,000 561,391 Dth/d 500,000 ■ Deliveries to Utah have increased by 0 50% since 2017 (162,444 Dth/d in 2020) 2013 2014 2015 2016 2017 2018 2019 2020 2021 ■ Scheduled throughput averaged 107% of Avg Daily Scheduled Design design capacity in 2020 and 105% in 2021 – through July 27 2021 through July 27 (1) Based on the 2021 California Gas Report (2) Based on Kern River’s average scheduled volumes to Nevada and Southwest Gas Transmission Company’s system capacity served by El Paso Natural Gas and Transwestern Pipeline 11 Pipeline System Management Swing of 1,020,477 Dth on daily basis or 42,520 Dth on hourly basis Swing of 668,545 Dth on daily basis or 27,856 Dth on hourly basis 12 Pipeline System Management Number of Days with at least 100,000 DTH of System Line Pack Change 80 69 (2017) 70 60 59 (2016) 53 (2019) 50 49 (2018) 40 42 (2020) # of # of instances 30 20 23 (2021) 10 0 Feb Aug Jan Mar Apr May Jun Jul Sep Oct Nov Dec 13 Pipeline System Management Line Pack Events1 Line Pack Level 2016 2017 2018 2019 2020 20212 Low 4 9 6 3 3 0 High 21 23 12 10 9 11 ■ Kern River manages line pack through effective coordination and communication with customers ■ Kern River has not issued a scheduling or imbalance penalty since 1996 1 Several notices may have been posted for a single critical line pack event 2 2021 events through July 27 14 Firm Transportation Reservation/Demand Rates Tax Reform & Jobs Act - 501G WITH Tax Reform Rate Credit (Non-Leap Year Rates) Original Period 2 Alternate Insulated Non-Insulated Period 2 Rolled-in Service Period 1 10-yr 15-yr 10-yr 15-yr 25-yr 2002 Exp 10-yr $0.4213 $0.2421 $0.2073 $0.2437 $0.2089 $0.1863 Orig Sys/2002 Exp 15-yr $0.3233 $0.2045 $0.1736 $0.2061 $0.1752 $0.1550 Alternate Original Period 2 Period 2 Incremental Service Period 1 10-yr 15-yr 25-yr N/A 2003/2010 Exp 10-yr $0.5191 $0.2283 $0.1992 $0.1804 2003/2010 Exp 15-yr $0.4198 $0.2263 $0.1979 $0.1796 WITHOUT Tax Reform Rate Credit (Non-Leap Year Rates) Original Period 2 Alternate Insulated Non-Insulated Period 2 Rolled-in Service Period 1 10-yr 15-yr 10-yr 15-yr 25-yr 2002 Exp 10-yr $0.4734 $0.2720 $0.2329 $0.2738 $0.2347 $0.2093 Orig Sys/2002 Exp 15-yr $0.3633 $0.2298 $0.1951 $0.2316 $0.1969 $0.1742 Alternate Original Period 2 Period 2 Incremental Service Period 1 10-yr 15-yr 25-yr N/A 2003/2010 Exp 10-yr $0.5833 $0.2565 $0.2238 $0.2027 2003/2010 Exp 15-yr $0.4717 $0.2543 $0.2224 $0.2018 15 Firm Transportation Rate History (Includes Demand & Commodity Rates) All rates n0n-leap year 16 Cost-Competitive Options to Southern California & Nevada $5 $4.7795 $4.2641 $0.4894 $4 $0.4894 $3.6171 $0.1557 $1.1370 $0.4100 $3.1065 $3.1643 $3.0988 $3.1474 $0.4894 $0.1796 $2.8705 $3 $0.1550 $0.3619 $0.2561 $0.5700 $0.3619 $0.2226 $/Dth $2 Rockies Rockies San Juan Rockies Rockies $2.8996 $2.8996 Permian Permian $2.7180 AECO $2.8996 $2.8996 $2.4469 $2.4469 $1 $2.3662 $0 Kern River Kern River Transwestern El Paso El Paso PG&E PG&E PG&E Rolled-in 2003 Exp GTN GTN Ruby 25-yr Alt P2 25-yr Alt P2 TCPL NWP Rate Rate Gas Price Fuel and Commodity Transportation Demand Rate Source: Platts M2M Modeled Natural Gas Curves, 120-Month Daily Assessments Dated July 28, 2021 17 Financial Strength ■ Kern River has a 100% capitalization structure ■ We have a diversified customer portfolio that is dominated by long-term contracts with highly rated customers (average: S&P’s A- and Moody’s A3) ■ We have predictable and stable cash flow ■ We have no dividend requirement to BHE Pipeline Group or to Berkshire Hathaway ■ We continue to achieve solid financial results ■ We have access to Berkshire Hathaway capital to fund expansions and major projects ■ We invest in our systems to ensure safe and reliable operations ■ We consistently execute projects with cost controls, which allows adequate returns ■ We have achieved rate stability since 2004 (our last rate case) and reduced rates on two occasions since 2014 18 Environmental Stewardship ■ We are committed to using natural resources wisely and to protecting our environment for the benefit of future generations ■ Methane reduction and liquid spill prevention are two of Kern River’s operational performance metrics ‒ Methane Reduction ● We actively manage avoidance of methane emissions far below the industry average of 0.26% ▪ 2020: 0.005% ● Kern River is a member of the U.S.