Investor Presentaiton

WGL Overview WGL is a leading diversified U.S. energy company Seen as a preferred source of clean and efficient energy solutions that produce value for customers, investors and communities Disciplined capital allocation strategy focused on infrastructure investments with numerous near-term opportunities Strong balance sheet and credit ratings (Moody's/S&P/ Fitch) WGL Holdings: (Baa1/BBB/BBB) Washington Gas: (A2/A-/A-) Utility Power EBIT Contribution By Segment5 Utility 67% Midstream 10% Commercial 10% Retail 13% 2017A Midstream Utility 60% Midstream 15% Commercial 15% Retail 10% 2020E Retail 2017A EBIT (%)1 Natural gas regulated utility serving 1.2 million customers with a rate base of C$3.3 billion 2,3 Serves three, high growth and economically strong jurisdictions: Washington D.C., Maryland and Virginia AltaGas Owns distributed generation assets including solar, and natural gas fuel cells The commercial segment is comprised of two businesses: Distributed generation Energy efficiency Stable earnings underpinned by contracts with a majority from investment grade counterparties Ownership stakes in four major midstream projects Expected to be the fastest growing segment through 2020 1 As of September 30, 2017, excludes other activities and eliminations; 2 WGL figures converted C$1.26 / US $1.00 3 WGL rate base extrapolated to calendar year end 2017 based on FY2017 rate base and a CAGR of 9.0%; 4 As per WGL FY2017A Form 10-K 5 WGL Standalone based on May 2016 Investor Presentation See "forward-looking information" Provides retail gas and electricity to 230,000 customers in Washington D.C., Maryland, Virginia, Delaware and Pennsylvania Volatility mitigated through five year secured supply arrangement with Shell4 Integrated service offering supporting other business lines 27

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