Compounding Long-term Dividends at 5-7% CAGR slide image

Compounding Long-term Dividends at 5-7% CAGR

AltaGas MBbl/d 800 700 600 500 400 300 200 100 0 2020 Alberta Montney NGL Outlook (2020-2030) Alberta: Marked Montney Liquids-rich Growth on Horizon Pipestone Growth Area AB Sands Kakwa Core Ante Creek ■Kaybob Elmworth ■Mulligan Grande Prairie Pouce Coupe 2030 0 MBbl/d 50 50 2020 100 150 2021 200 250 2022 2023 ■Bluesky Charlie Lake ■Dunvegan 2024 Deep Basin NGL Outlook (2020-2030) Harmattan Growth Area Alberta Montney expected to be the largest NGL supply in Canada, representing 40% of Canadian production by 2030. Source: Wood Mackenzie; Notes: See "Forward-looking Information" Alberta Deep Basin expected to also show upwards of 30% NGL supply growth by 2030. Recent M&A activity reiterates growth potential. Energy Fundamentals are a Tailwind for Midstream ■Falher 2025 2026 Glauconitic 2027 Notikewin Wilrich 28
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