AltaGas Value Proposition

2024 Guidance Puts & Takes Tailwinds Headwinds Export Tolling & Merchant Volumes Global Export Margins ☑ Pipestone I and Dimsdale Contribution Utility Rate Base Growth ☑ Normal Weather (DC & MI) USD/CAD FX DC/MD Rate Case Timing Alaska Sale As highlighted in Q3/23, we expect to achieve results in the upper half of the 2023 normalized EBITDA guidance range. Lower MVP AFUDC Interest Expense Notes: 1) Non-GAAP financial measure; see discussion in the advisories; *See "Forward-looking Information" AltaGas Normalized EBITDA¹ Guidance ($ millions) - $1,500 $1,600 Utilities: ~55% - 57% $1,675 - $1,775 Utilities: ~ 53% - 57% Midstream: ~43% 45% Midstream: ~43% -47% 2023E 2024E Normalized EPS¹ Guidance $2.05 - $2.25 $1.85 - $2.05 5-year 11.5% CAGR 2019 2020 2021 2022 2023E 2024E Positioned to Deliver Top Quartile Y/Y EBITDA and EPS Growth in 2024 vs. Energy Infrastructure Peers 60 50

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