HispanicBusiness

(1) Includes Non-GAAP financial measures. See public disclosures available at www.altagas.ca or www.sedar.com for definitions.

IN THE FOURTH QUARTER, ALTAGAS:

--  Commissioned the Gordondale deep-cut gas plant (Gordondale) and began    commercial operations ahead of schedule;--  Completed commissioning of the Co-stream facility (Co-stream) at the    Harmattan complex (Harmattan);--  Began in-river work at the 195 MW Forrest Kerr Project; and--  Received all material permits and licences for both the McLymont Creek    Project and Volcano Creek Project.

CONSOLIDATED FINANCIAL RESULTS

Effective January 1, 2012, the Corporation follows US GAAP. Information derived from the Consolidated Statements of Income and Consolidated Balance Sheets for the year ended and as at December 31, 2011, along with other selected financial information for 2011, has been restated to comply with US GAAP. All prior comparative information that has been restated to US GAAP is labeled "restated".

                                  Three Months Ended     Twelve Months Ended                                         December 31             December 31(unaudited)                                     2011                    2011($ millions)                        2012  (restated)        2012  (restated)----------------------------------------------------------------------------Revenue                            525.2       333.5     1,450.3     1,270.6Net revenue(1)                     207.6       156.0       664.6       513.1Normalized operating income(1)                          96.4        56.4       234.6       184.3Normalized EBITDA(1)               129.4        78.1       336.9       265.8Net income applicable to common shares                      26.7        31.6       101.8        82.7Normalized net income(1)            46.6        30.8       109.5        90.2Total assets                     5,911.9     3,556.2     5,911.9     3,556.2Total long-term liabilities      3,349.5     1,637.6     3,349.5     1,637.6Net additions to property, plant and equipment               166.5       401.1     1,532.1       642.6Dividends declared(2)               37.4        29.8       132.8       112.2Cash flows Normalized funds from operations(1)                112.0        63.0       281.0       219.0--------------------------------------------------------------------------------------------------------------------------------------------------------                                  Three Months Ended     Twelve Months Ended                                         December 31             December 31($ per share, except shares                     2011                    2011outstanding)                        2012  (restated)        2012  (restated)----------------------------------------------------------------------------Normalized EBITDA(1)                1.23        0.90        3.55        3.16Net income - basic                  0.25        0.36        1.07        0.98Net income - diluted                0.25        0.36        1.06        0.97Normalized net income(1)            0.44        0.36        1.15        1.07Dividends declared(2)               0.36        0.34        1.40        1.34Cash flows  Normalized funds from   operations(1)                    1.07        0.73        2.96        2.61Shares outstanding - basic (millions)  During the period(3)             105.0        86.6        95.0        84.0  End of period                    105.3        89.2       105.3        89.2--------------------------------------------------------------------------------------------------------------------------------------------------------