AltaGas Ltd. — Capital/Financing Update 2025

Nov 5, 2025

TORYS LLP

525 - 8th Avenue S.W., 46th Floor
Eighth Avenue Place East
Calgary, Alberta T2P 1G1 Canada
P. 403.776.3700 | F. 403.776.3800
www.torys.com

November 5, 2025

TO: British Columbia Securities Commission
Alberta Securities Commission
Financial and Consumer Affairs Authority of Saskatchewan
The Manitoba Securities Commission
Ontario Securities Commission
Autorité des marchés financiers
Financial and Consumer Services Commission (New Brunswick)
Nova Scotia Securities Commission
Financial and Consumer Services Division, Prince Edward Island
Office of the Superintendent of Securities Service, Newfoundland and Labrador

Dear Sirs/Mesdames:

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

We hereby consent to the references to our name on the cover page and under the headings "Interests of Experts" and "Enforcement of Judgments Against Foreign Persons or Companies" in the Prospectus Supplement and to the reference to our name and to the use of our opinions under the heading "Eligibility for Investment" in the Prospectus Supplement relating to the offering of up to 11,615,000 Common Shares of AltaGas Ltd.

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 or that are within our knowledge as a result of services we performed in connection with such opinions.

Yours truly,

"Torys LLP"