ALTAGAS REPORTS STRONG FIRST QUARTER 2023 RESULTS

Contributing sentiments towards policy:

53% :The Utilities segment reported normalized EBITDA of $401 million in the first quarter of 2023 compared to $408 million in the first quarter of 2022, while income before taxes was $590 million in the first quarter of 2023 compared to $426 million in the first quarter of 2022.
51% : MidstreamThe Midstream segment reported normalized EBITDA of $183 million in the first quarter of 2023 compared to $174 million in the same quarter of 2022, while income before income taxes was $138 million in the first quarter of 2023 compared to $159 million in the same quarter of 2022.
51% : Income before income taxes was $619 million for the first quarter of 2023 compared to $504 million for the same quarter in 2022.
49% : EBITDA is calculated from the Consolidated Statements of Income using income before income taxes adjusted for pre-tax depreciation and amortization, interest expense.
48% : Please refer to the Three Months Ended March 31 Section of the MD&A for further details on the variance in income before income taxes and net income applicable to common shareholders.
38% : The Corporate/Other segment reported a normalized EBITDA loss of $2 million in the first quarter of 2023 compared to a loss of $8 million in the same quarter of 2022 while income loss before taxes was a loss of $109 million in the first quarter of 2023 compared to a loss of $81 million in the first quarter of 2022.

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