Globally Connected Infrastructure
Continuing the Longer-term Journey of Compounding
Normalized Earnings
Per Share¹
Normalized
EBITDA¹
5-year 11% CAGR
5-year 6% CAGR
Net Debt /
Normalized EBITDA¹
Stock Performance
19
20
21
22
23E
24E
19
20
21
22
23E
24E
18
19
20
21
22
23E 24E
11%
Normalized EPS
CAGR 2019-2024E
6%
4.5x
Net Debt / Normalized
Normalized EBITDA
CAGR 2019-2024E
EBITDA Reduction
2018YE Q3/23TTM
Dec-19 Aug-20 Apr-21 Dec-21 Aug-22 Apr-23
ALA-CA
LDC Index
Midstream Index
Blended Index
>10%
Annual TSR
Outperformance
since 2019
Dividends + Share Price
Notes: 1) Non-GAAP financial measure, see discussion in the advisories. 2) "E" denotes: normalized EPS guidance ranges of $1.85-$2.05 (2023) and $2.05-$2.25 (2024), and normalized EBITDA guidance ranges of $1.5B-$1.6B (2023) and $1.675B -$1.775B (2024);
*See "Forward-looking information"
AltaGas
Long-term Outputs Align with Strategy
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