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Investor Presentaiton

With approximately 7,000 employees and assets of $23 billion, ATCO is a diversified corporation providing sustainable, innovative and comprehensive energy solutions globally. ORGANIZATIONAL STRUCTURE ATCO 100% 52.3% 40% STRUCTURES & LOGISTICS GLOBAL BUSINESS UNIT CU CANADIAN UTILITIES LIMITED An ATCO Company Modular Structures Frontec 100% 100% 100% NELTUME PORTS ATCO CORPORATE 100% ELECTRICITY GLOBAL BUSINESS UNIT PIPELINES & LIQUIDS GLOBAL BUSINESS UNIT CU CORPORATE (21日) (2)(B) (5) Electricity Distribution Natural Gas Distribution Retail Energy (2)(3) Electricity Transmission Natural Gas Transmission (2)(B) (4) Alberta PowerLine Storage & Industrial Water Electricity Generation International Electricity Generation International Natural Gas (2) Distribution (1) ATCO Investments 1. ATCO Investments includes commercial real estate investments held for sale, lease or development. 2. Regulated businesses include Natural Gas Distribution, Natural Gas Transmission, International Natural Gas Distribution, Electric Distribution, and Electric Transmission. ATCO (TSX: ACO.X/ACO.Y) ~$4 billion common equity capitalization Canadian Utilities (TSX: CU / CU.X) ~$9 billion common equity capitalization CU Inc. ~$7.5 billion debt capitalization 3. Canadian Utilities' 100 per cent owned subsidiary CU Inc. includes Natural Gas Distribution, Natural Gas Transmission, Electric Distribution, and Electric Transmission. 4. Alberta PowerLine General Partner Ltd. is the general partner of Alberta PowerLine Limited Partnership (Alberta PowerLine or APL), a partnership between Canadian Utilities Limited (80 per cent) and Quanta Services, Inc. (20 per cent). 5. Retail Energy, through ATCOenergy, was launched in early 2016 to provide retail, commercial and industrial electricity and natural gas service in Alberta. INVESTOR PRESENTATION FEBRUARY 2019 6 ATCO
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