Share Description

Pursuant to the Plan of Arrangement effective July 1, 2010, securityholders were entitled to receive common shares of AltaGas in exchange for their trust units of AltaGas Income Trust and their class B limited partnership units of AltaGas Holding Limited Partnership No. 1, on a one for one basis.

Common Shares

The common shares trade on the Toronto Stock Exchange under the symbol ALA and are included in S&P/TSX Composite Index, S&P/TSX Completion Index, and the S&P/TSX Capped Equity Index.

Preferred Shares

AltaGas’ Cumulative Redeemable Five-Year Fixed Rate Reset Preferred Shares, Series A (the “Series A Preferred Shares”) trade on the Toronto Stock Exchange under the symbol ALA.PR.A.

Holders of the Series A Preferred Shares are entitled to receive a cumulative quarterly fixed dividend for the initial period ending on but excluding September 30, 2015 (the “Initial Period”) at an annual rate of 5.00%, payable on the last day of March, June, September and December, as and when declared by the board of directors of AltaGas. The first quarterly dividend payment is payable on December 31, 2010 and shall be $0.4589 per Series A Preferred Share. The dividend rate will reset on September 30, 2015 and every five years thereafter at a rate equal to the sum of the then five-year Government of Canada bond yield plus 2.66%. The Series A Preferred Shares are redeemable by AltaGas, at its option, on September 30, 2015 and on September 30 of every fifth year thereafter.

Holders of Series A Preferred Shares have the right to convert all or any part of their shares into Cumulative Redeemable Floating Rate Preferred Shares, Series B (the “Series B Preferred Shares”), subject to certain conditions, on September 30, 2015 and on September 30 of every fifth year thereafter. Holders of Series B Preferred Shares will be entitled to receive a cumulative quarterly floating dividend at a rate equal to the sum of the then 90-day Government of Canada Treasury Bill yield plus 2.66%, as and when declared by the board of directors of AltaGas.