AltaGas Ltd. — Capital/Financing Update 2025

Nov 5, 2025

Blakes

Blake, Cassels & Graydon LLP
Barristers & Solicitors
Patent & Trade-mark Agents
855 - 2nd Street S.W.
Suite 3500, Bankers Hall East Tower
Calgary AB T2P 4J8 Canada
Tel: 403-260-9600 Fax: 403-260-9700

November 5, 2025

VIA SEDAR+

Alberta Securities Commission (as Principal Regulator under National Policy 11-202 Process for
Prospectus Reviews in Multiple Jurisdictions)
British Columbia Securities Commission
Financial and Consumer Affairs Authority of Saskatchewan
The Manitoba Securities Commission
Ontario Securities Commission
Autorité des marchés financiers (Québec)
Financial and Consumer Services Commission (New Brunswick)
Nova Scotia Securities Commission
Office of the Superintendent of Securities, Service Newfoundland and Labrador
Office of the Superintendent of Securities, Consumer, Corporate and Insurance Services Division, Office of the
Attorney General, Prince Edward Island

RE: AltaGas Ltd. (the "Corporation") – Prospectus Supplement dated November 5, 2025 to a Short Form Base Shelf Prospectus dated March 12, 2025

Dear Sirs/Mesdames:

We refer to the prospectus supplement of the Corporation dated November 5, 2025 (the "Prospectus Supplement") relating to the distribution of 10,100,000 common shares of the Corporation. The Prospectus Supplement is deemed to be incorporated by reference into the short form base shelf prospectus of the Corporation dated March 12, 2025.

We hereby consent to the reference to our firm name on the cover page and under the heading "Interests of Experts" in the Prospectus Supplement, and to the reference to our firm name and to our opinion under the heading "Eligibility for Investment" in the Prospectus Supplement.

We confirm that we have read the Prospectus Supplement and have no reason to believe that there are any misrepresentations in the information contained in the Prospectus Supplement that are derived from our opinions referred to therein or that are within our knowledge as a result of the services we performed in connection with such opinions.

Yours truly,

"Blake, Cassels & Graydon LLP"

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