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News Release AltaGas ALTAGAS ANNOUNCES STRONG THIRD QUARTER RESULTS Continued Execution on AltaGas ' Long - term Strategic Plan Positions the Company to Deliver on 2021 Financial Guidance and Drive Further Long - term Stakeholder Value Creation Calgary , Alberta ( October 28 , 2021 ) AltaGas Ltd. ( " AltaGas " or the " Company " ) ( TSX : ALA ) today reported third quarter 2021 financial results and provided an update on the Company's operations . HIGHLIGHTS ( all financial figures are unaudited and in Canadian dollars unless otherwise noted ) " " • Normalized FFO per share¹ of $ 0.61 in the third quarter of 2021 compared to $ 0.40 in the third quarter of 2020 , representing 53 % year - over - year growth and continues to provide the foundation for increased returns of capital to shareholders and to fund ongoing organic expansion . Normalized EPS¹ of $ 0.02 in the third quarter of 2021 compared to $ 0.04 in the third quarter of 2020 and positions AltaGas well to deliver on 2021 financial guidance . Normalized EBITDA¹ of $ 244 million in the third quarter of 2021 compared to $ 213 million in third quarter of 2020 , representing 15 % year - over - year growth . Results reflected strong execution across the platform , particularly within the Midstream segment which demonstrated robust growth across the business . Midstream normalized EBITDA of $ 186 million in the third quarter of 2021 compared to $ 114 million in the third quarter of 2020 , representing a 63 % year - over - year increase . Performance included record global export volumes of liquified petroleum gases ( LPGs ) that averaged approximately 105,000 Bbls / d to Asia , an 11 % year - over - year increase in gathering and processing volumes , and a 15 % year - over - year increase in fractionation and liquids handling volumes . Utilities normalized EBITDA of $ 62 million in the third quarter of 2021 compared to $ 80 million in the third quarter of 2020. The largest factors behind the year - over - year decrease were the one - time pension accounting adjustment in the third quarter of 2020 and the unfavourable impact of the CAD / USD exchange rate , partially offset by continued Accelerated Pipeline Replacement ( ARP ) investments and the impact of the Maryland and D.C. rate cases . Washington Gas received approval from the Maryland Public Service Commission ( PSC ) to support the Piscataway Bioenergy Project , which is AltaGas ' first renewable natural gas ( RNG ) project in partnership with the Washington Suburban Sanitary Commission ( WSSC Water ) to transform biowaste into renewable energy . Subsequent to quarter - end , AltaGas filed an application with the Canada Energy Regulator for a 25 - year butane export license for 40,000 Bbls / d . The application is a proactive step to ensure AltaGas and its partners are positioned to continue to connect the growing LPG production volumes from Western Canada that exceed local demand to global markets , which benefits its upstream and downstream customers . CEO MESSAGE " AltaGas ' diversified business model delivered another strong quarter with results underpinned by the Company executing on its corporate strategy of operating long - life energy infrastructure assets that connect markets and provide resilient and durable value for our stakeholders " said Randy Crawford , President and Chief Executive Officer . AltaGas 1700 , 355 4th Avenue SW , Calgary , AB , Canada | T2P 0J1 1. Non - GAAP measure ; see discussion in the advisories of this news release and reconciliation to US GAAP financial measures shown in AltaGas ' Management's Discussion and Analysis ( MD & A ) as at and for the period ended September 30 , 2021 , which is available on www.sedar.com .