Presentation to Delegation from Brazil June 14, 2007

1. Presentation to Delegation from Brazil June 14, 2007

2. Cautionary Statement RegardingForward-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. 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 the 2007 plan; changes in reserve estimates based upon internal and third party reserve analyses; our ability to meet production volume targets in our E&P segment; 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; our ability to successfully exit the energy trading business; changes in commodity prices for oil, natural gas, and power and relevant basis spreads; 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. Certain of the production information in this presentation include the production attributable to El Paso’s 43 percent interest in Four Star Oil & Gas Company (“Four Star”). El Paso’s Supplemental Oil and Gas disclosures, which are included in its Annual Report on Form 10-K, reflect its proportionate share of the proved reserves of Four Star separate from its consolidated proved reserves. In addition, the proved reserves attributable to its proportionate share of Four Star represent estimates prepared by El Paso and not those of Four Star.

3. Antonio Pinho Vice President, International E & P

4. Defining Our Purpose El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner

5. Creating a New Culture the place to workthe neighbor to havethe company to own

6. Pipelines Exploration & Production Core Business Units

7. Pipelines a meaningful company doing meaningful work delivering meaningful results 7

8. El Paso Pipeline System TennesseeGas Pipeline Wyoming Interstate ColoradoInterstate Gas Cheyenne Plains Pipeline MojavePipeline SouthernNatural Gas Elba IslandLNG El PasoNatural Gas Mexico Ventures Florida GasTransmission (50%) • Approximately 30,000 miles of interstate pipelines • 19% of total U.S. interstate pipeline mileage • 23 Bcf/d capacity (16% of total U.S.) • 16 Bcf/d throughput (28% of U.S. consumption) • Best market connection and supply access • Leading pipeline integrity program

9. Many Value Added Projects More than $2 billion of committed growth TGP Essex-Middlesex $47 MM November 2007 82 MMcf/d TGP NE ConneXion New England$103 MM November 2007 136 MMcf/d WIC Kanda Lateral $141 MM 2008 January 2008 Up to 410 MMcf/d WIC Medicine Bow Expansion—2008 $18 MM July 2008 205 MMcf/d CIG High Plains Pipeline$145 MM (50%) December 2008/July 2009 965 MMcf/d CP Shell Expansion $21 MM April 2008 70 MMcf/d SNG Elba Expansion III & Elba Express $930 MM 2010–2012 8.4 Bcf / 900 MMcfd CIG Raton Expansion $12 MM December 2007 29 MMcf/d SESH Interest $170 MM June 2008/October 2010 137 MMcf/d/ 490 MMcf/d EPNG Mexico Lateral Loop $36 MM November 2008 127 MMcf/d TGP Carthage Expansion $35 MM May 2009 100 MMcf/d SNG Cypress Phase I / II $244 MM/$19 MM May 2007/May 2008 220 MMcf/d/116 MMcf/d Mexico JV—LPG Reynosa $53 MM (50%) July 2007 30,000 Bbl/d TGP Eugene Island 371 $33 MM September 2007 200 MMcf/d SNG South System III $133 MM–$286 MM Oct 2010–Apr 2012 245 MMcf/d–367 MMcf/d FGT Phase VII $63 MM May 2007 60 MMcf/d TGP LA Deepwater Link $55 MM July 2007 850 MMcf/d FERC Certificated/ Under Construction Signed PA’s Expected PA’s Strong Positions

10. Exploration &Production Company a meaningful company doing meaningful work delivering meaningful results 10

11. NileDelta Sinai Gulf Egypt of Egypt Onshore* • Total year production of 413 MMcfe/d • Year-end reserves of 1,711 Bcfe • R/P: 11.3 Suez Egypt • 2 exploration blocks Brazil Texas Gulf Coast • Total year production of187 MMcfe/d • Year-end reserves of406 Bcfe • R/P: 6.0 Rio de Janeiro GOM/SLA • Total year production of174 MMcfe/d • Year-end reserves of272 Bcfe • R/P: 4.3 El Paso E&P: Top 10 Independent Total Company • Total year production of 798 MMcfe/d • Year-end reserves of 2,637 Bcfe* • R/P: 9.1 Brazil • Total year productionof 24 MMcfe/d • Year-end reserves of 248 Bcfe • R/P: 28.7 *Includes our 43.1% share of Four Star; all data 2006 unless noted

12. 1 3 km Pinaúna Exploration Upside—Cacau and Açai • Current profile • Currently 12 MMBoe proved reserves booked • Estimate 37 MMBoe with conservative OWC • Exploration upside • 2-well exploration program underway • Could add incremental100 MMBoe (Pc = 34%) • El Paso currently 100% WI • Production to begin 4Q 2008 • 15,000 Boe/d–25,000 Boe/d Brazil BAS-74 Pinaúna POD area Rio de Janeiro BAS-64 BAS-64 BAS-73 2380 m OWC 1 Açaí-1 2 Cacau-1 3 -2420 m OWC 3D survey outline Sergi depth W

13. Brazil Rio de Janeiro Bia & BM-ES-5 Block Prospectivity New Discovery Well: 4-ESS-164A Date: April 2006 Operator: Petrobrás Block: BES-100, area 1 Reservoir: Upper Cretaceous sands Status: Discovery 280 MMbo (source: www.petrobras.com) Light oil discoveries in Espírito Santo Basinnow total 700 MMBoe, all since 2003

14. Focus on Continued Improvement • Solid foundation of people and assets • Ability to replace reserves from identified inventory • Organization executing at higher level of activity • Build credibility on performance • Provide visibility on future growth • Improve capital and operating efficiency

15. What is PVR (Present Value Ratio) • Represents the present value of future after-tax cash flows discounted at 10.5% over total investment • Target ratio is 1.15: Every $1.00 investedreturns $1.15 on an after-tax, discounted basisover the life of the project

16. Tony Chovanec Managing Director – Marketing and Trading

17. Production Marketing 22 Commercial Staff

18. What We Do • Sell E&P and partner production of approximately 0.9 Bcf/d and 25,000 Bbls/d of oil • Fulfill EP Marketing Legacy sales obligations of approximately .5Bcf/d • Provide price protection for EP production volumes using financial products such as collars, options, and swaps • Provide Marketing Scheduling/Operations Services for both Marketing and E&P • Monitor strategic transport and storage opportunities, and purchase capacity as appropriate

19. Primary Risks • Significantly falling prices for our future production.A steep, prolonged decline in future price could impair our cash flows and severely limit our ability to pay down debt and grow • Significant Supply Losses or Inaccurate Production Forecasts.Could require that we purchase much higher priced replacement gas intramonth • Erosion of Transportation Value • Pipeline Constraints.Could impede our ability to get our equity gas moved from the production area

20. Primary Risks • CounterpartyCredit.Will the people we sell to pay us? • Employee Retention. Specialized skills sets

21. Financial Markets • Volatile commodity markets • Significant credit risk • Substantial cash or collateral requirements to support trading ventures • Regulatory uncertainty and risk • Impact of increased Hedge Fund activity

22. 2007 Natural Gas Hedge Program • Supports approximately 89%* of 2007 domestic natural gas production 133 BcfAverage cap $11.48 MMBtu Ceiling 54.8 Bcf $8.00 floor/$16.89 ceiling 78.4 Bcf $7.70fixed price 89.4 Bcf $7.50 floor Balance atMarket Price Floors 223 BcfAverage floor $7.69 MMBtu Note: Assumes 1 Mcf = 1 MMBtu

23. Questions