Investor Presentaiton

Clear LPG Shipping Cost Advantage to Asia Japan/ Korea 1 Demand: Supply: 10 days Ocean Freight Cost Terminal Cost Rail Cost Ft. Saskatchewan Prince Rupert Rail Cost North America 1 Demand: Supply: Terminal Cost Ocean Freight Cost (Includes Canal Fee) Mt. Belvieu 25 days WCSB to Asia Costs (US$/Gal) WCSB Netbacks (US$/Gal) Japan Price less $0.30 to $0.40 Japan Price less $0.40 to $0.60 $0.10 -$0.20 Via RIPET Rail Terminal Included Via Gulf Coast $0.25-$0.30 Via RIPET Included Shipping Included Total Costs $0.30 -$0.40 $0.05 -$0.10 $0.10 -$0.20 $0.40 - $0.60 Via Gulf Coast RIPET Premium AltaGas 1 Shipping time as per Idemitsu Estimated based on public information See "forward-looking information" 43

View entire presentation