AltaGas Closes Additional Medium Term Note Offering

Press Release

CALGARY, AB, July 9, 2024 – AltaGas Ltd. (“AltaGas”) (TSX: ALA) today announced that it has closed its previously announced additional offering of $250 million aggregate principal amount of its 5.597% Medium Term Notes, Series 29, due March 14, 2054 (the “Notes”) issued at a price of $96.379 plus accrued interest. Including the additional Notes, there will be $500 million aggregate principal amount of Notes outstanding.

The net proceeds from the offering will be used to repay amounts drawn on the syndicated credit facility. The term loan was repaid in full on June 28, 2024.

The additional Notes were offered on a best-efforts basis in each of the provinces of Canada through a syndicate of investment dealers led by BMO Nesbitt Burns Inc. under AltaGas’ short form base shelf prospectus dated March 31, 2023, as supplemented by a prospectus supplement dated May 11, 2023, and related pricing supplement dated July 5, 2024.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. The additional Notes have not been approved or disapproved by any regulatory authority nor has any such authority passed upon the accuracy or adequacy of the short form base shelf prospectus or the pricing supplement.

All financial figures are in Canadian dollars.

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 Energy Infrastructure business that is focused on delivering stable and growing value for its stakeholders.

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

Jon Morrison
Senior Vice President, Corporate Development and Investor Relations
Jon.Morrison@altagas.ca

Aaron Swanson
Vice President, Investor Relations
Aaron.Swanson@altagas.ca

Investor Inquiries
1-877-691-7199
investor.relations@altagas.ca

Media Inquiries
1-403-206-2841
media.relations@altagas.ca

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