AltaGas Value Proposition

(MMtherms/household) Gas Utilities Critical for Long-term Energy Delivery Affordability, Reliability and Climate Benefits Remain Strong Annual U.S. Household Energy Demand Gas vs. Electric Cost of Electricity Over Natural Gas Delivered Electrification Costs Household Energy Bills 6.0x 120 Natural Gas Electricity U.S. Average 5.0x 100 80 60 40 20 4.0x 3.0x 200% 175% 150% U.S. Average 125% 100% 75% 50% 25% 0% U.S. Average Michigan Virginia Maryland liiii l… …. 2.0x 1.0x 0 - 0.0x Michigan Virginia Maryland District of Columbia U.S. Average Michigan Virginia Maryland District of Columbia District of Columbia U.S. Average U.S. Average Demand for natural gas within AltaGas' jurisdictions represents ~70% of total household energy consumed. The current delivered cost of electricity over natural gas is approximately three times. Sources: Energy Analysis, AGA; RRA; Internal Analysis Using US Government Reported Public Information.; Notes: internal calculation, based on 2022 data, measured using therms equivalent. AltaGas Gas Utilities are Irreplicable Switching to an all-electric home would increase the average monthly bill by ~$275 (>75% of the average monthly household savings). 20 20

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