Investor Presentaiton

Delivering Growth and Security Payout ratio balances company growth and investor return and positions ALA for further dividend growth Dividend growth¹ $2.19 $2.10 $1.98 $1.77 $1.53 $1.32 $1.38 $1.44 7.5% CAGR 49% Dividend payout2,3 57% 58% 55% 51% 46% III 42% illl 2011 2012 2013 2014 2015 2016 2017 2010 2011 2012 2013 2014 2015 2016 2017 2010 AltaGas 1 Based on annualized run rate 2 2010 in accordance with CGAAP. 2011 and forward in accordance with U.S. GAAP 3 Dividends paid as a percentage of FFO. See "forward-looking information" 26

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