Mr. Jon Morrison reports

ALTAGAS LTD. CLOSES AGGREGATE $400 MILLION MEDIUM TERM NOTE OFFERING

AltaGas Ltd. has completed its issue of $400-million of senior unsecured medium term notes with a coupon rate of 4.638 per cent, maturing on May 15, 2026.

The net proceeds resulting from the offering will be used to pay down existing indebtedness under AltaGas's credit facility and to refinance the senior unsecured medium-term note maturing in June, 2023. The offering continues to stagger, extend and derisk AltaGas's capital structure and tenor profile.

The offering was made through a syndicate of investment dealers co-led by TD Securities Inc., CIBC Capital Markets Inc. and National Bank Financial Inc. under AltaGas's short-form base shelf prospectus dated March 31, 2023, prospectus supplement dated May 11, 2023, and related pricing supplement dated May 11, 2023.

All financial figures are in Canadian dollars.

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.

We seek Safe Harbor.