AltaGas Value Proposition

Global Energy Demand Continues to Compound Population Growth and Rising Mobility Drive Strong Long-term Outlook Global Energy Demand (1990-2050) (MMboe/d) 450 ■Gas ■ Oil 400 Coal Nuclear 350 ■Renewables Biomass 300 250 200 150 100 50 90 95 00 05 10 10 15 20 25 25 30 35 40 40 Long-term energy demand expected to grow through 2050, driven by global population growth, rising mobility and economic expansion. 45 45 50 Conventional Energy Demand: Coal, Oil/Liquids and Natural Gas (1900-2022) 250 10 Coal Oil Gas -Population 9 200 Conventional Energy Demand (MMboe/d) 150 100 Calls for precipitous declines in conventional energy are intellectually dishonest. 50 50 0 €006 L 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 2020 2030 2040 2050 Few things more correlated than population growth, prosperity, and energy usage. All forms of energy needed on the road ahead. Sources: Wood Mackenzie; Refinitiv/Reuters; Notes: See "Forward-looking Information" AltaGas Long-term Demand and Investment Thesis to Support Midstream and Utilities Growth 8165 43 22 0 Global Population (Blns) 18

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