Share Description

Pursuant to the Plan of Arrangement effective July 1, 2010, securityholders were entitled to receive common shares of AltaGas in exchange for their trust units of AltaGas Income Trust and their class B limited partnership units of AltaGas Holding Limited Partnership No. 1, on a one for one basis.

Procedure for Exchange of Securities

In order to receive their New AltaGas Amalco Shares following completion of the Arrangement, Holders must deposit with the Depositary (at one of the addresses specified on the last page of the Letter of Transmittal) a properly completed and duly executed Letter of Transmittal or a manually executed photocopy thereof together with the certificates (or, in the case of LP #1 B Units only, a copy of such LP #1 B Unit certificate(s)) representing the Holder's Trust Units and/or LP #1 B Units, as the case may be.  AltaGas LP #1 has caused Computershare Trust Company of Canada, for and on behalf of the LP #1 B Unitholders, to maintain custody of the original LP #1 B Unit certificates at all times.  As such, pursuant to the Letter of Transmittal, LP #1 B Unitholders will also direct AltaGas LP #1 or its legal counsel to deliver or cause to be delivered to the Depositary the original certificate(s) representing their LP #1 B Units.

Securityholders whose Securities are registered in the name of a broker, dealer, bank, trust company or other nominee must contact their nominee to deposit their Securities.

The use of the mail to transmit certificates (or, in the case of LP #1 B Units only, a copy of such LP #1 B Unit certificate(s)) representing Securities and the Letter of Transmittal is at each Holder's risk.  The Fund recommends that such certificates and documents be delivered by hand to the Depositary and a receipt therefor be obtained or that registered mail be used.

From and after the Effective Time, certificates formerly representing Securities exchanged pursuant to the Plan of Arrangement shall represent only the right to receive New AltaGas Amalco Shares to which the Holders are entitled pursuant to the Arrangement.

Securityholders will not receive New AltaGas Amalco Shares or any dividends or other payments which may be declared thereon after the Effective Date until they submit the certificates (or, in the case of LP #1 B Units only, a copy of such LP #1 B Unit certificate(s)) for their Securities to the Depositary along with a duly completed Letter of Transmittal.  Each certificate formerly representing Securities that is not deposited with all other documents as required pursuant to the Plan of Arrangement on or prior to the sixth anniversary of the Effective Date shall cease to represent a right or claim of any kind or nature including the right of the Holder to receive New AltaGas Amalco Shares or any dividends or other payments which may have been declared thereon.

For additional information see 'The Arrangement - Procedure for Exchange of Securities' section of the Information Circular and Proxy Statement with respect to a Plan of Arrangement dated May 4, 2010.

Letter of Transmittal (pdf) 

Common Shares

The common shares trade on the Toronto Stock Exchange under the symbol ALA and are included in S&P/TSX Composite Index, S&P/TSX Completion Index, and the S&P/TSX Capped Equity Index.