Here's the explanation that I posted previously - what I wrote in post #2 is wrong. There is no GPS altitude data in the EXIF file - you have to get that from the DAT file.
From
Incorrect EXIF GPS and Elevation
There are two altitudes listed in the EXIF data, in three fields:
Absolute Altitude : +2849.93
Relative Altitude : +73.00
GPS Altitude Ref : Above Sea Level
GPS Altitude : 2849.9 m Above Sea Level
Note that "Relative altitude" is the barometric altitude relative to the takeoff point, and is the only one accurate enough to use. "Absolute altitude" and "GPS altitude" are the same quantity but, just to be confusing, are not derived from GPS data - they are absolute barometric altitudes above MSL based on a standard atmosphere. Those are not reliably accurate since the atmosphere is rarely standard.
Also note that if the absolute barometric altitude is negative (pressure is higher than at sea level in a standard atmosphere) then "Absolute altitude" will read negative but "GPS Altitude Ref" will change to "Below Sea Level" and "GPS Altitude" will be set to zero:
Absolute Altitude : -76.69
Relative Altitude : +31.60
GPS Altitude Ref : Below Sea Level
GPS Altitude : 0 m Above Sea Level