Investor Presentaiton

Power Business Generating clean energy with natural gas and renewable sources Diversified Power Portfolio ■ 1,930 MW of power generation ■ Power generation in over 20 states and provinces ■ Contracts with creditworthy counterparties provide long- term stable cash flow Weighted average contract life is ~14 years¹ Enhanced growth from clean energy " Up to $350 million in new battery storage opportunities ■ -US$100 million per year in distributed generation opportunities ■ Over $300 million in new solar opportunities ☐ Strong footprint provides excellent opportunities to develop solar generation projects ធម៌ 66 Segment normalized EBITDA² (2019F) Utilities 40% - 45% Gas 27% -32% California Gas-fired generation, 10% Power 25% - 30% Northwest Hydro, 7% Distributed Generation, Energy Storage, 1% Power- Other, 7% ■ Track record of building projects on-time / ahead of schedule and under budget in both Canada and the U.S. 66 Distribution Generation Wind Power Generation Hydro Power Generation Biomass Power Generation Gas-Fired Power Generation Energy Storage AltaGas 66 646 1 Assumes average of 20 year contracts for WGL distributed generation 2 Expectations as at August 1, 2018 2019E EBITDA is indicative, and based upon assumed asset monitizations. FX Rate of C$1.26/US$1 See "forward-looking information ༢ 13

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