ALTAGAS ACTIVATES CONTINGENCY PLAN TO MAINTAIN UNINTERRUPTED RIPET EXPORT OPERATIONS AMID LABOUR DISRUPTION

Executive Summary

• AltaGas activated its contingency plan for the Ridley Island Propane Export Terminal (RIPET) in response to an ILWU‑523B strike commencing Nov 27, 2025.
• The company expects the alternate workforce to maintain “materially consistent” export operations with minimal financial impact and reaffirms its 2025 full‑year guidance range.
• No change to service levels for over 70 export customers is anticipated; the terminal’s role in Canada‑Asia propane trade remains unchanged.

Key Details

• Labour Action: ILWU Local 523B initiated strike action at RIPET effective Nov 27, 2025.
• Contingency Measures: An alternate workforce has been deployed to operate the terminal; all safety and reliability protocols remain in place.
• Operational Impact: AltaGas expects “minimal financial impact” and plans to maintain “materially consistent export operations.”
• Guidance: The company reiterates its 2025 full‑year guidance range, indicating no revision to earnings or cash flow forecasts.
• Customer Base: RIPET serves more than 70 export customers; service continuity is a priority.
• Strategic Importance: The terminal provides critical egress for Canadian propane to high‑value Asian markets, supporting pricing and energy security objectives.

Notable Quotes

“While AltaGas is disappointed that a resolution has not yet been reached, the Company remains committed to working collaboratively with its union partner… As a result of the contingency plan being enacted, the Company expects minimal financial impact and is reiterating its 2025 full‑year guidance range.” – Company statement.