Globally Connected Infrastructure

AltaGas Value Proposition Diversified, Low-Risk Business Model with Visible Growth and Disciplined Capital Allocation Low Risk Energy Infrastructure 1 2 3 Disciplined Capital Allocation Platform Providing Stable and Growing Earnings/Cash Flows Robust energy fundamentals for natural gas and NGLS Low-risk commercial frameworks - >80% utilities/take-or-pay and fee- for-service contracts >90% of earnings from Utilities / Investment Grade counterparties Diversified platform provides opportunity to optimize capital allocation Visible, Industry- Leading Growth Utilities modernization programs and customer growth provides visible and low-risk growth Growing global LPG demand provides structural growth tailwind Opportunities to fill latent capacity through lower-capex investments drive improving returns Energy evolution provides opportunities to augment growth Balance sheet de-risking - follow path to 4.5x net debt / normalized EBITDA Equity Self-funding model Prudent and sustainable dividend payout ratio (~50-60% of normalized EPS) Disciplined capital allocation Notes: 1) Non-GAAP measure; see discussion in the advisories. *See "Forward-looking Information" AltaGas Low Risk Commercial Model; Industry-Leading Growth 4

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