ALTAGAS ANNOUNCES $250 MILLION HYBRID NOTE OFFERING CALGARY, AB , Aug. 4, 2022 |CNW| - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA ) today announced that it has priced an offering of $250 million of 7.35% Fixed-to-Fixed Rate Subordinated Notes, Series 2 due August 17, 2082 (the " Offering "). The Offering is expected to close on or about August 17, 2022 . The Company intends to use the net proceeds of the offering to redeem or repurchase its outstanding cumulative redeemable five-year rate reset preferred shares, series C (TSX: ALA ). The subordinated notes are being offered through a syndicate of underwriters, co-led by BMO Capital Markets, RBC Capital Markets and Scotiabank, under AltaGas'' short form base shelf prospectus dated February 22, 2021 , as supplemented by a prospectus supplement dated August 4, 2022 . This news release does not constitute an offer to sell or the solicitation of an offer to buy the subordinated notes in any jurisdiction. The subordinated notes have not been approved or disapproved by any regulatory authority.