AltaGas Value Proposition

North America Balancing the Global LPG Market Global LPG Exports, By Country (2014-2023 YTD) MMBbl/d 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 AltaGas AltaGas delivers 16% of Japan's total propane imports 14% of South Korea's total LPG imports. Japan Home heating; more environmentally-friendly alternative to thermal coal. Approximately 90% of global LPG export volumes are delivered to Japan and South Korea. South Korea Propane is used for home heating and some petchem while butane is used for transportation and fuel blending. Strong Demand- pull from Asia 99% of global exports are transacted with investment grade counter parties or fully secured. 0.0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 United Arab Emirates Qatar Saudi Arabia Norway ■Algeria United States Iran ■Kuwait I ALA Sources: Wood Mackenzie. Notes: *See "Forward-looking Information" AltaGas AltaGas Asia has strong demand- pull with robust demand for increased Canadian supply. China and Other Approximately 10% of global exports are delivered to China or other markets. Future larger growth potential with PDH additions. Despite Strong Growth, AltaGas Remains a Smaller Player in the Global Market with Robust Growth Opportunities 48

View entire presentation