LUMA Opportunity Highlights

CANADIAN CU UTILITIES LIMITED An ATCO Company 8.9% 8.5% ALBERTA UTILITIES ACHIEVE TOP TIER RETURNS ON EQUITY 10.8% 10.7% 9.1% 8.5% CU Inc.'s average ROE +2.3 per cent above average AUC approved over last 10 years (+2.2 per cent over last 3 years) Operational excellence and lower costs benefit our customers and share owners 10 Year Average (2010-2019) AUC Approved Alberta Utility Average 3 Year Average (2017-2019) ■CU Inc. Average (1) Alberta Utility Average (excluding CU) is a simple average and includes AltaGas, AltaLink, Enmax Distribution, Enmax Transmission, EPCOR Distribution, EPCOR Transmission, and Fortis Alberta (2) CU Inc. Average is a simple average and includes Electric Distribution, Electric Transmission, Natural Gas Distribution, and Natural Gas Transmission. INVESTOR PRESENTATION FEBRUARY 2021 22 ATCO CUTILITIES LIMITED CANADIAN An ATCO Company

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