Mr. Jon Morrison reports

ALTAGAS ANNOUNCES VERN YU AS PRESIDENT AND CHIEF EXECUTIVE OFFICER

AltaGas Ltd. has appointed Vern Yu as the company's next president and chief executive officer, effective July 1, 2023. Mr. Yu will also join AltaGas' board of directors at the same time. The announcement follows an extensive global search process conducted by the transition committee of the board, which included the evaluation of highly qualified internal and external candidates and was aided with the support of a global executive search firm.

"Vern is a highly capable and seasoned leader with three decades of experience across the energy infrastructure value chain, including the utilities and mid-stream markets and we are excited to have him join the AltaGas team," said Pentti Karkkainen, board chair at AltaGas. "Known as a strong and engaged leader that empowers people, Vern is well regarded for his strategic mindset, commercial acumen and intimate knowledge of the North American energy infrastructure markets. The board believes Vern's strong experience across a wide range of commercial, operational and financial leadership roles, including lower-carbon ventures, will be instrumental in advancing AltaGas's corporate strategy of operating long-life infrastructure assets that connect customers and markets and are positioned to provide resilient and durable value for AltaGas's stakeholders. Vern shares AltaGas's core values, has strong character and will complement the company's deep bench strength of senior leaders that have been internally developed and externally added in recent years to deliver strong and compounding stakeholder value creation in the years ahead."

Mr. Yu joins AltaGas after a successful three-decade career at Enbridge Inc. where he most recently served as executive vice-president, corporate development, chief financial officer and president, new energy technologies. During his three decades at Enbridge, Mr. Yu held various roles of increasing responsibility across the company, including its utilities and mid-stream segments with strong experience across Canadian and United States operations. This includes Mr. Yu previously serving as executive vice-president and president, liquids pipelines, and prior to that as executive vice-president and chief development officer. Over the last decade, Mr. Yu played a leading role in securing more than $30-billion in new growth projects, completion of the Line 3 replacement project, leading Enbridge's entry into European offshore wind market, and leading various acquisitions that were aligned with advancing Enbridge's corporate strategy.

"I am excited about the opportunity to lead AltaGas in the next chapter of its corporate life," said Mr. Yu. "AltaGas has a tremendous asset base in the U.S. and Canada that provides safe, reliable and affordable energy to its customers, global connectivity for the Canadian energy industry and is positioned to deliver strong corporate growth over the years ahead. AltaGas also has a long history of operating in a manner that fosters strong long-term partnerships with first nations rightsholders, local communities, customers and industry partners. I look forward to joining the highly capable senior leadership team at a company whose core values are aligned with my own personal principles and I believe are the foundation for true long-term sustainability."

"On behalf of the board of directors, I would like to thank Randy Crawford for his leadership over the past 4.5 years that has streamlined and focused AltaGas, deleveraged the balance sheet and drove operational excellence across the enterprise, all of which will be critical in delivering ongoing value in the years ahead, under Vern's leadership and guidance," said Mr. Karkkainen.

Mr. Yu's biography

Mr. Yu joins AltaGas after a successful three-decade career at Enbridge where he most recently served as executive vice-president, corporate development, chief financial officer and president, new energy technologies. During his three decades at Enbridge, Mr. Yu held various commercial, operational and financial roles of increasing responsibility across the company. This includes Mr. Yu previously serving as executive vice-president and president, liquids pipelines, and prior to that as executive vice-president and chief development officer.

Mr. Yu is a professional engineer and holds a master of business administration degree in finance from the University of Toronto, as well as a bachelor of science degree in applied science from Queen's University. Mr. Yu serves on the board of the Calgary Economic Development and is the chair of the Enbridge Tour Alberta for Cancer. Mr. Yu previously served as the vice-chair of the Alberta Cancer Foundation's board of trustees and served on the boards of DCP Midstream and Energir Inc.

About AltaGas Ltd.

AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The company operates a diversified, lower-risk, high-growth utilities and mid-stream business that is focused on delivering resilient and durable value for its stakeholders.

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