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Investor Presentaiton

CANADIAN UTILITIES OVERVIEW Regulated Utilities: Returns On Equity CU INC. IS COMPRISED OF OUR ALBERTA UTILITY COMPANIES AND ACHIEVES TOP-TIER RETURNS ON EQUITY CU Inc.'s average ROE is 2.1% above average AUC approved over last 10 years. 1. Alberta Utility Peer Average (excluding CU Inc.) is a simple average and includes AltaGas, Alta Link, Enmax Distribution, Enmax Transmission, EPCOR Distribution, EPCOR Transmission, and Fortis Alberta. 2. CU Inc. Average is a simple average and includes Electric Distribution, Electric Transmission, Natural Gas Distribution, and Natural Gas Transmission. *2022 Achieved ROE's will be published in Q2 2023 as per normal regulatory process. CU INC. An ATCO Company 10 YEAR AVERAGE (2012-2021) 10.6% 8.5% 9.1% AUC Approved Alberta Utility Peer Average¹ CU Inc. Average² ATCO Ltd. Investor Presentation 28
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