AltaGas Ltd. Announces Additional Issuance of Medium Term Notes

CALGARY (ALBERTA), July 5, 2024 /CNW/ – AltaGas Ltd. (“AltaGas”) (TSX: ALA) announced today 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 total principal amount of notes outstanding.

The additional ticket offering is expected to close on or around July 9, 2024The 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.

Additional tickets are offered where possible in each province of Canada through a syndicate of investment dealers led by BMO Nesbitt Burns Inc. AltaGas will file a pricing supplement pursuant to the base shelf prospectus dated March 31, 2023as supplemented by a prospectus supplement dated May 11, 2023 relating to the offering of additional notes to the securities regulatory authorities in each of the provinces of CanadaThe Pricing Supplement and the 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 on the Internet under AltaGas’ profile on the Canadian Securities Administrators’ website at www.sedarplus.com. Investors should read the Pricing Supplement and the accompanying Base Shelf Prospectus and Prospectus Supplement before making an investment decision.

This press 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 regulatory authority passed upon the accuracy or adequacy of the short form base shelf prospectus or the pricing supplement.

This press release does not constitute an offer to sell in any broad sense. United States of any debt or other security of AltaGas, including any offering of its debt securities, may not be offered or sold United States absent registration under the United States securities laws or unless exempt from registration under such laws. The offering described in this press release is not being made in United States and has not been and will not be registered under the United States securities laws and, accordingly, the additional notes may not be offered or delivered, directly or indirectly, or sold in United States except in the case of certain transactions exempt from registration requirements under applicable United States securities laws.

All financial figures are in Canadian dollars.

About AltaGas

AltaGas is a leading North American infrastructure company that connects customers and markets to affordable, reliable energy. The Company operates a diversified, low-risk, high-growth energy infrastructure business focused on delivering stable and growing value to its stakeholders.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. When used in this press release, the words “may,” “should,” “could,” “will,” “intend,” “plan,” “anticipate,” “believe,” “seek,” “propose,” “estimate,” “expect” and similar expressions, as they relate to AltaGas, are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements regarding, among other things, the offering, the closing of the offering and the use of proceeds from the offering of additional notes. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements reflect AltaGas’ current views regarding future events based on certain important factors and assumptions and are subject to certain risks and uncertainties, including, without limitation, changes in market, governmental or regulatory developments, general economic conditions and other factors set forth in AltaGas’ public disclosure documents. Many factors could cause AltaGas’ actual results, performance or achievements to vary from those described in this press release, including, without limitation, those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and the forward-looking statements included or incorporated by reference in this press release should not be unduly relied upon. These forward-looking statements speak only as of the date of this press release. AltaGas does not intend and assumes no obligation to update these forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Jon Morrison
Senior Vice President, Corporate Development and Investor Relations
[email protected]

Aaron Swanson
Vice President, Investor Relations
[email protected]

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SOURCE AltaGas Ltd.

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