Overview 1 2025 Guidance Highlights 2 North American and Global Macro Environment 3 2025 Business Plan and Strategic Priorities 4 2025 Guidance and Headwinds and Tailwinds 5 Dividend Outlook 6 2025 Capital Program 7…
2 Strong Environment for Gas Utilities Investments U.S. Natural Gas Demand U.S. Household Energy Demand U.S. Gas-Fired Electrical Generation 90 Gas vs. Electric2 petroleum and other 4,000 85 125 renewables Natural Gas Electricity…
2 Robust Asian Demand Supports Midstream Expansion Global Natural Gas Demand Global LPG Exports Canadian Energy Export Projects 85 4.0 3.5 Coastal Gas Link 70 Recently 3.0 TMX Expansion (MMboe/d) 55 Completed Enbridge Line…
3 2025 Business Plan Continue to Execute on our Long-term Strategic Priorities Focus on growing, de-risking, and strengthening the enterprise. 1 2 3 Optimize Assets For Active Continued Balance Maximum Returns De-risking Sheet…
Advocating for Customer Choice in 2025 Advocating for Energy Choice Washington Gas, along with local unions, restaurant associations, business counsels, housing and building associations, filed two AltaGas will be very active in…
5 2025 Dividend Increase and Forward Outlook Plan to return capital through sustainable annual 1.26/Share DIVIDEND dividend increases 2025 Dividend PHILOSOPHY Compound at strong long-term rates that aligns with AltaGas long-term…
6 2025 Capex Budget 2025 Capital Budget: 1.4 Billion Increasing Midstream Allocation Capital deployment reflects the continued strong growth Strong organic growth opportunities across both platforms driving opportunities. Largest 2025…
6 2025 Capital Allocation Breakdown Capital focused on advancing short and long-term projects across portfolio. Capital Allocation Investment Focus Investment Return Low capital business development and asset optimization Mix of…
7 Data Centers Provide Additional Growth Opportunity Data Centers US Power Demand Share of Top U.S. Data Center Locations PJM Data Center Power Demand Forecast 700 Terawatt-hours 12% Data Center Consumption 600 Share of US…
7 Pipestone II Update In Service Date: 2025 Year-end June Facility Progress November Facility Progress Milestones Cleared To-Date Final Investment Decision Site Clearing FEED Acid Gas Wells Gathering System Project Execution…
7 REEF Update In Service Date: Near 2026 Year-end Rail Offloading Foundation Overburden Removal Milestones Cleared To-Date Final Investment Decision FEED Site Clearing Project Execution EPC Contracting 50% firm price EPC…
7 Mountain Valley Pipeline Update The Pipeline Q3/24 First full quarter of operations with strong operating performance and no surprises. Partners currently evaluating 475 MMcf per day expansion through additional compression. MVP…
7 Focused on Continued Balance Sheet Deleveraging Previous Leverage Target New Leverage Targets Trailing Metrics (Adjusted for Higher Hybrids) (As of Q3/24) 5.0x (including 50% (including 50% debt treatment for 4.65x debt…
2025 Normalized EBITDA Seasonality Expectations Consolidated Normalized EBITDA1 Midstream Normalized EBITDA1 Utilities Normalized EBITDA1 by Quarter by Quarter by Quarter 42%- 46% 35%-39% 28%-32% 31%-35% 25%-29% 24%-28%…
Executing on Strategic Priorities to Compound Long-term Value Normalized Earnings Normalized Adjusted Net Debt1,2 / Share Price Per Share1 EBITDA1 Normalized EBITDA Performance 2018 2019 2020 2021 2022 2023 2024E 2025E 2018 2019…
Contact Information For more information visit www.altagas.ca or reach out to one of the following: Jon Morrison Aaron Swanson Senior Vice President, Corporate Vice President, Investor Relations Development and Investor Relations…
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