Investor Presentaiton

Leading North American Diversified Energy Company Premier footprint in Canada and the U.S. Balanced Long-Term Target Business Mix Fee/ Take-or- Pay Cash PPA / Contract Cash Flow Midstream Power Flow Utility Regulated Cash Flow Gas Processing Regional LNG Facility LPG Export Terminal Distributed Generation Wind Power Generation Hydro Power Generation LPG Export Terminal Under Construction Storage Facility Storage Facility Under Construction Midstream Pipelines Midstream Pipelines Under Development AltaGas Biomass Power Generation Gas-Fired Power Generation Energy Storage Utilities 66 6 6 Segment normalized EBITDA1 (2017A) Gas 27% Power -37% Utilities -36% Segment normalized EBITDA² (2019F) 65 6 Gas Power -27%-32% -25% - 30% 66 7 Ο 1 AltaGas standalone 2 Expectations as at August 1, 2018, 2019E EBITDA is indicative, and based assumed asset monetizations. FX Rate of C$1.26/US$1.00 Normalized EBITDA is a non-GAAP measure. See "forward-looking information" Utilities -40% - 45% LO 5

View entire presentation