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Investor Presentaiton

Legal Notice Other Financial Measure Disclosure Advisory This presentation includes references to consolidated adjusted earnings, which is considered to be a "total of segments measure" as that term is defined in National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure. The most directly comparable measure reported in accordance with International Financial Reporting Standards is Earnings Attributable to Class I and Class II shares, which was $370 million as at December 31, 2022. For additional information, see "Other Financial and Non-GAAP Measures" and "Reconciliation of Adjusted Earnings to Earnings Attributable to Class I and Class II Shares" in the MD&A, which is available on SEDAR at www.sedar.com. The information provided in the MD&A under the heading "Reconciliation of Adjusted Earnings to Earnings Attributable to Class I and Class II Shares" is incorporated by reference herein. ATCO Ltd. Investor Presentation 36
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