AltaGas Ltd. announced that it has priced an additional offering of $250 million aggregate principal amount of its 5.597% Medium Term Notes, Series 29, due March 14, 2054 (the "Notes"). The additional Notes will be issued at a price of $96.379 plus accrued interest. Upon completion of the offering of the additional Notes, there will be $500 million aggregate principal amount of Notes outstanding.

The offering of the additional Notes is expected to close on or about July 9, 2024. The net proceeds resulting 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 are being 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. AltaGas will be filing a pricing supplement pursuant to the base shelf prospectus dated March 31, 2023, as supplemented by a prospectus supplement dated May 11, 2023 relating to the offering of the additional Notes with the securities regulatory authorities in each of the provinces of Canada. The pricing supplement and accompanying base shelf prospectus and prospectus supplement contain important detailed information about the additional Notes being offered. A copy of the pricing supplement and the accompanying base shelf prospectus and prospectus supplement relating to the additional Notes may be obtained over the Internet under AltaGas' profile at the Canadian Securities Administrators' website.

Investors should read the pricing supplement and accompanying base shelf prospectus and prospectus supplement before making an investment decision. 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.

This news release is not an offer for sale within the United States of any debt or other securities of AltaGas, including any offering of its debt securities, may not be offered or sold in the United States absent registration under U.S. securities laws or unless exempt from registration under such laws. The offering described in this news release is not being made in the United States and has not been and will not be registered under U.S. securities laws, and accordingly, the additional Notes may not be offered or delivered, directly or indirectly, or sold in the United States except in certain transactions exempt from the registration requirements under applicable U.S. securities laws.