Mr. Jon Morrison reports

ALTAGAS ANNOUNCES $200 MILLION HYBRID SUBORDINATED NOTE OFFERING

AltaGas Ltd. has priced an offering of $200-million of 8.90 per cent fixed-to-fixed-rate subordinated notes, Series 3, due Nov. 10, 2083. The notes are callable after five years.

The offering is expected to close on or about Nov. 10, 2023. The company intends to use the net proceeds of the offering to redeem or repurchase its outstanding cumulative redeemable five-year rate reset preferred shares, Series E (Toronto Stock Exchange: ALA.PR.E).

The subordinated notes are being offered through a syndicate of underwriters, co-led by CIBC World Markets Inc. and RBC Dominion Securities Inc., under AltaGas's short form base shelf prospectus dated March 31, 2023, as supplemented by a prospectus supplement dated Nov. 7, 2023.

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.