AltaGas Value Proposition

Continuing the Longer-term Journey of Compounding Normalized Earnings Per Share¹ Normalized EBITDA¹ 5-year 11% CAGR 5-year 6% CAGR Net Debt / Normalized EBITDA¹ Stock Performance 19 20 21 22 23E 24E 19 20 21 22 23E 24E 18 19 20 21 22 23E 24E 11% Normalized EPS CAGR 2019-2024E 6% 4.5x Net Debt / Normalized Normalized EBITDA CAGR 2019-2024E EBITDA Reduction 2018YE Q3/23TTM Dec-19 Aug-20 Apr-21 Dec-21 Aug-22 Apr-23 ALA-CA LDC Index Midstream Index Blended Index >10% Annual TSR Outperformance since 2019 Dividends + Share Price Notes: 1) Non-GAAP financial measure, see discussion in the advisories. 2) "E" denotes: normalized EPS guidance ranges of $1.85-$2.05 (2023) and $2.05-$2.25 (2024), and normalized EBITDA guidance ranges of $1.5B-$1.6B (2023) and $1.675B -$1.775B (2024); *See "Forward-looking information" AltaGas Long-term Outputs Align with Strategy 16

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