ALTAGAS ANNOUNCES $200 MILLION HYBRID NOTE OFFERING

Executive Summary

• AltaGas Ltd. has priced an offering of $200 million in 5.375% Fixed-to-Fixed Rate Junior Subordinated Notes, Series 4, due December 5, 2055.
• The notes are callable after five years and are being offered through a syndicate of underwriters co-led by BMO Nesbitt Burns Inc. and Scotia Capital Inc.
• The company intends to use the net proceeds from this offering to redeem or repurchase its outstanding Cumulative Redeemable 5-Year Rate Reset Preferred Shares, Series A, and Cumulative Redeemable Floating Rate Preferred Shares, Series B.

Key Details

• Instrument: 5.375% Fixed-to-Fixed Rate Junior Subordinated Notes, Series 4.
• Maturity Date: December 5, 2055.
• Call Provision: Callable after five years.
• Gross Proceeds: $200 million.
• Underwriters: Syndicate co-led by BMO Nesbitt Burns Inc. and Scotia Capital Inc.
• Prospectus: Offered under AltaGas' short form base shelf prospectus dated March 12, 2025, supplemented by a prospectus supplement dated September 3, 2025.
• Expected Closing Date: On or about September 5, 2025.
• Use of Proceeds: Redemption or repurchase of:
  • Cumulative Redeemable 5-Year Rate Reset Preferred Shares, Series A (TSX: ALA.PR.A).
  • Cumulative Redeemable Floating Rate Preferred Shares, Series B (TSX: ALA.PR.B).

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.