AltaGas Value Proposition

Premiere, Globally Connected Midstream Platform Robust long-term fundamentals, supported by West Coast LNG Industry-leading Montney footprint - positioned to attract volumes and value chain opportunities Visible near and long-term growth De-risking commercial framework Strong counter-party credit: ~80% investment grade customers and growing take-or-pay or fee-for-service (currently ~50%) 2024E Normalized EBITDA 1,3 Credit Quality 20% 27% ■ A- and Above BBB+ to BBB- BB+ to BB- 36% 53% RIPET Prince Rupert Blair Creek Montney Region Townsend North Pine Fort St. John Younger Gordondale Pipestone 1/11 Dimsdale (Pipestone Gas Storage) Duvernay Region + Pipestone Dimi (Pipe Gas Pipestone I/II Announced Pipestone Acquisition Fort Contract Type² Saskatchewan Edmonton EEEP 10% Deep Basin JEEP 35% ■Take-or-Pay & 1 Harmattan Cost-of-Service ■Fee-for-Service ■Differential Commodity Ferndale Empress Bakken Region 19% AltaGas Midstream NGL Fractionation Gas Processing Processing and Fractionation LPG Export Terminal Storage Facility 65 Truck Terminal Rail Transport HH Rail Pipestone Assets Gas Processing Storage Facility Notes: 1) Non-GAAP financial measure; see discussion in the advisories.; 2) Differential: Merchant unhedged Global Export and other marketing volumes; Commodity: Frac exposed volumes, hedged and unhedged.; 3) Totals may not add due to rounding; *See "Forward-looking Information" AltaGas Globally Connected Infrastructure 45

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