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AltaLink Announces Completion of Internal Reorganization

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CALGARY, Alberta — AltaLink Ltd. (“AltaLink”) announces that AltaLink, L.P. (“ALP”) and certain related entities (collectively, the “AltaLink Entities”) have completed their previously announced internal reorganization (the “Internal Reorganization”). As a result, AltaLink (operating through its manager AltaLink Management Ltd.) has become the regulated transmission utility as the successor to ALP and certain AltaLink Entities, and holds, directly or indirectly, all of the assets and liabilities previously held by ALP.

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In addition, AltaLink has become the successor obligor under all of the issued and outstanding debt securities previously issued by ALP (collectively, the “Bonds”). In connection therewith AltaLink has become the successor reporting issuer to ALP. Going forward, AltaLink will continue the continuous disclosure obligations previously carried out by ALP through public dissemination on SEDAR+.

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Holders of Bonds, together with other interested parties, are directed to the SEDAR+ profiles of each of AltaLink and ALP at www.sedarplus.ca and AltaLink’s website at www.altalink.ca for additional information regarding the Internal Reorganization.

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About AltaLink Ltd.

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Headquartered in Calgary, with offices in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta’s largest electricity transmission provider, with approximately 13,400 kilometres of transmission lines and more than 310 substations. AltaLink is partnering with its customers to provide innovative solutions to meet the province’s demand for reliable and affordable energy.

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This news release does not constitute an offer to sell or the solicitation of an offer to buy AltaLink securities in any jurisdiction, including but not limited to, the United States. AltaLink’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

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Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as “expects”, “intends”, “projects”, “plans”, “anticipates”, and similar expressions, are forward-looking information that represents management of AltaLink’s internal projections, expectations or beliefs. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause AltaLink’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in AltaLink’s filings with the Canadian securities authorities. Accordingly, holders of AltaLink securities and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. AltaLink disclaims any responsibility to update these forward-looking statements.

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