AltaGas Ltd. ("AltaGas" or the "Company") announced the appointment of Vern Yu as the company's next President and Chief Executive Officer, effective July 1, 2023. Mr. Yu will also join AltaGas' Board of Directors at the same time. The announcement follows an extensive global search process conducted by the Transition Committee of the Board, which included the evaluation of highly qualified internal and external candidates and was aided with the support of a global executive search firm.

"Vern is a highly capable and seasoned leader with three decades of experience across the energy infrastructure value chain, including the Utilities and Midstream markets, and we are excited to have him join the AltaGas team," said Pentti Karkkainen, Board Chair at AltaGas. "Known as a strong and engaged leader that empowers people, Vern is well-regarded for his strategic mindset, commercial acumen, and intimate knowledge of the North American energy infrastructure markets. The Board believes Vern's strong experience across a wide range of commercial, operational, and financial leadership roles, including lower-carbon ventures, will be instrumental in advancing AltaGas' corporate strategy of operating long-life infrastructure assets that connect customers and markets and are positioned to provide resilient and durable value for AltaGas' stakeholders. Vern shares AltaGas' core values, has strong character, and will complement the Company's deep bench strength of senior leaders that have been internally developed and externally added in recent years to deliver strong and compounding stakeholder value creation in the years ahead."

Mr. Yu joins AltaGas after a successful three-decade career at Enbridge Inc. where he most recently served as Executive Vice President, Corporate Development, Chief Financial Officer and President, New Energy Technologies. During his three decades at Enbridge, Vern held various roles of increasing responsibility across the company, including its Utilities and Midstream segments with strong experience across Canadian and U.S. operations. This includes Mr. Yu previously serving as Executive Vice President and President, Liquids Pipelines and prior to that as Executive Vice President and Chief Development Officer. Over the past decade, Vern played a leading role in securing more than $30 billion in new growth projects, completion of the Line 3 replacement project, leading Enbridge's entry into European offshore wind market, and leading various acquisitions that were aligned with advancing Enbridge's corporate strategy.

"I am excited about the opportunity to lead AltaGas in the next chapter of its corporate life," said Mr. Yu. "AltaGas has a tremendous asset base in the U.S. and Canada that provides safe, reliable, and affordable energy to its customers, global connectivity for the Canadian energy industry, and is positioned to deliver strong corporate growth over the years ahead. AltaGas also has a long history of operating in a manner that fosters strong long-term partnerships with First Nations rightsholders, local communities, customers, and industry partners. I look forward to joining the highly capable senior leadership team at a company whose core values are aligned with my own personal principles, and I believe are the foundation for true long-term sustainability."

"On behalf of the Board of Directors, I would like to thank Randy Crawford for his leadership over the past four and a half years that has streamlined and focused AltaGas, de-leveraged the balance sheet, and drove operational excellence across the enterprise; all of which will be critical in delivering ongoing value in the years ahead, under Vern's leadership and guidance," said Mr. Karkkainen.