AltaGas Value Proposition

Electrification Would Increase Emissions and Cripple Economic Activity MMBtu/year 160 120 80 00 Household Energy Use and Emissions¹ (Natural Gas vs. Electric) 1 2 Current PJM Grid Generation Capacity Mix² <30% 10 of PJM electric 80 power generation 45% 160 Mt/House comes from nuclear + renewables Without Gas, Economic Durability Drops German Industrial Sector Cutting Production Due to High Natural Gas Prices Г 12% CNBC 17% High Natural Gas Prices 22% Lead to a Shutdown of British Fertilizer Plants The New York Times L 1 2 40 + 0 2 Electric Home Natural Gas Home CO2 Emissions An electric home consumes 42% more energy than a natural gas home. An electric home also produces 23% more CO₂ than a natural gas home. Natural Gas Coal Oil Nuclear Renewables Other California and Texas Power Outages³ (Outages Not Caused by Human Attacks) 28 24 >2x More Outages over 5 years 3 13 12 2018 2022 ■California Texas Sources: 1) Energy Analysis, AGA, based on 2021 data; 2) PJM disclosures, and 3) U.S. Department of Energy. Notes: See "Forward-looking Information" AltaGas Electrification Doesn't Mean Lower Emissions 4 Commercial and Industrial Customers Saved more than US$500 Billion using AGA Natural Gas Over the Past Decade Industrial development and economic activity stalls without affordable natural gas. Electrification is causing marked deterioration in energy reliability. 23

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