The ATM Program continues to provide Emera with additional financing flexibility should it be required in the future. The volume and timing of distributions under the ATM Program, if any, will be determined at the Company’s sole discretion. The Company has entered into an equity distribution agreement dated December 5, 2025 (the “Equity Distribution Agreement”) with BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and Scotia Capital Inc. as Canadian agents (the “Canadian Agents“), and BMO Capital Markets Corp., RBC Capital Markets, LLC and Scotia Capital (USA) Inc. as U.S. agents (collectively, the “U.S. Agents” and, together with the Canadian Agents, the “Agents”). Distributions of the Common Shares through the ATM Program will be made pursuant to the terms of the Equity Distribution Agreement. The ATM Program will be effective until January 5, 2029 unless terminated prior to such date by the Company or otherwise in accordance with the terms of the Equity Distribution Agreement. Emera intends to use the net proceeds from the ATM Program, if any, for general corporate purposes.