Investor Presentaiton

Utility Business High quality assets underpinned by regulated, low-risk cash flow Delivering clean and affordable natural gas to homes and businesses in 8 jurisdictions Estimated combined rate base more than doubles and estimated combined customer base triples in size Increased diversification, across several high growth areas, minimizing exposure to any one jurisdiction ENSTAR NATURAL GAS COMPANY PNG Pacific Northern ~$7 Billion Projected rate base in 2021 ~1.8 Million customers across 8 states and provinces AltaGas Expectations as at August 1, 2018 See "forward-looking information" AltaGas utilities SEMCOENERGY GAS COMPANY Heritage Gas Washington Gas AWGL Com 11

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