ALTAGAS LTD.
(The “Corporation”)
EXHIBIT TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDING DECEMBER 31, 2020
For the twelve-month period ended December 31, 2020:
(a)The consolidated net income attributable to owners of the parent before interest expense on short-term and long-term debt and income taxes of the Corporation was $950 million; and
(b)Borrowing costs of the Corporation on short-term debt, long-term debt, and preferred shares were $345 million.
The Corporation’s earnings coverage ratio (i.e. the number determined by dividing the amount set out in paragraph (a) above by the amount set out in paragraph (b) above) for the twelve months ended December 31, 2020 was 2.8.