AltaGas Value Proposition

2024 Capex Budget 2024 Capital Budget: $1.2 Billion Largest 2024 capital outlays include Utilities ARP, System Betterment, and the Pipestone II facility. Increasing Midstream Allocation Strong organic growth opportunities across both platforms - driving healthy competition for capital. Attractive opportunities in Midstream driving increased allocation. Corporate/Power 6% Midstream: Maintenance & Turnaround ☐ Pipestone II ☐ Optimization capital Utilities 58% Midstream 36% Utilities: ☐ ARP/MRP Programs " Customer Growth System Betterment 2% 1% 1% 2% 6% 58% 70% 78% 89% 87% 36% 28% 20% 10% 12% 2020 2021 2022 2023E 2024E ■ Utilities Midstream Corporate/Power Notes: *See "Forward-looking Information" AltaGas Significant Growth Opportunities Require High-grading To Maintain Ability to Self-fund 61

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