TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. MONETIZES ITS ALTAGAS LTD. COMMON SHAREHOLDINGS

CALGARY, AB, Jan. 9, 2024 /CNW/ - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX: TWM) has sold approximately 12.47 million common shares (the "AltaGas Shares") of AltaGas Ltd. ("AltaGas") for proceeds of approximately $340 million. The AltaGas Shares were acquired as consideration for the previously announced sale of the Corporation's Pipestone natural gas plant, Pipestone expansion project and Dimsdale natural gas storage facility to AltaGas.

ABOUT TIDEWATER MIDSTREAM

Tidewater is traded on the TSX under the symbol "TWM". Tidewater's business objective is to profitably grow and create shareholder value in the North American natural gas, natural gas liquids, crude oil, refined product and renewable energy value chain. Its operations include downstream facilities, natural gas processing facilities, natural gas liquids infrastructure, pipelines, storage, and various renewable initiatives. To complement its infrastructure asset base, the Corporation also markets crude, refined product, natural gas, natural gas liquids and renewable products and services to customers across North America.

Tidewater is a majority shareholder of Tidewater Renewables Ltd., an energy transition company focusing on the production of low carbon fuels. Tidewater Renewables Ltd.'s common shares are publicly traded on the TSX under the symbol "LCFS".

SOURCE Tidewater Midstream and Infrastructure Ltd.

Scott Bauman, Director, Capital Markets, Tidewater Midstream and Infrastructure Ltd., www.tidewatermidstream.com, [email protected], [phone]