WGL Holdings, Inc. strengthens its position as a leading North American provider of natural gas, electricity, green power and energy services

Transaction Highlights

• WGL Holdings, Inc. will maintain the headquarters of its U.S. utility business, Washington Gas, in Washington, D.C., as it has for almost 170 years, while also assisting in the management of AltaGas Ltd.’s U.S. regulated utility business
• AltaGas Ltd. also intends to relocate the headquarters of its U.S. power business to WGL Holdings Inc.’s service region
• The transaction price of $88.25 per share recognizes the value of WGL Holdings Inc.’s long term growth plan and appropriately rewards its shareholders
• The WGL Holdings, Inc.’s family of companies will continue to function as before, maintaining employee staffing and existing investment programs – under the same company names and brand
• The combined company will have an ability to target high growth markets and enhance its clean energy offering to customers, while maintaining reliable and affordable utility service with local rates no higher as a result of the transaction
• The combined company is expected to have an enterprise value of approximately $17 billion and approximately $3.4 billion in natural gas rate base assets