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AltaGas announces consideration of hybrid subordinated debt securities offering

Press Release

CALGARY, AB, Aug. 3, 2022  – AltaGas Ltd. (“AltaGas” or the “Company”) (TSX: ALA) today announced that it is considering an offering of hybrid subordinated debt securities under its short form base shelf prospectus dated February 22, 2021.

If a successful offering is priced and completed, 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 C (TSX: ALA.PR.U). There is no certainty that AltaGas will ultimately complete the offering being considered or as to the timing or terms on which such an offering might be completed.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the hybrid subordinated debt securities in any jurisdiction. The hybrid subordinated debt securities considered to be offered have not been approved or disapproved by any regulatory authority. The hybrid subordinated debt securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered or sold within the United States, or to or for the account of, United States persons.

ABOUT ALTAGAS

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 Midstream business that is focused on delivering resilient and durable value for its stakeholders.

For more information visit www.altagas.ca or reach out to one of the following:

Jon Morrison
Senior Vice President, Investor Relations & Corporate Development
[email protected]

Adam McKnight
Director, Investor Relations
[email protected]

Investor Inquiries
1-877-691-7199
[email protected]

Media Inquiries
1-403-206-2841
[email protected]

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