Business Wire·Apr 9, 2026, 9:23 AM ET

Emera Incorporated Announces Conversion Privilege of Cumulative Minimum Rate Reset First Preferred Shares, Series J

Emera announced it will not redeem the 8,000,000 outstanding Series J Preferred Shares on May 15, 2026.
Holders of Series J Shares retain the option to convert them one-for-one into Series K Floating Rate Shares on the May 15, 2026 conversion date.
Conversion into Series K Shares is prohibited if fewer than 1,000,000 Series K Shares would remain outstanding after conversion.
If fewer than 1,000,000 Series J Shares remain outstanding on the conversion date, all remaining Series J Shares will automatically convert into Series K Shares.
Emera will provide written notice to holders regarding conversion eligibility at least seven days prior to May 15, 2026.
Dividend rates for Series J Shares (May 2026 to May 2031) and Series K Shares (May 2026 to August 2026) will be determined on April 15, 2026.
The conversion exercise period runs from April 15, 2026, until 5:00 p.m. (EDT) on April 30, 2026.
Holders failing to communicate conversion instructions by the deadline will retain Series J Shares & receive the new fixed dividend rate.
Series J Shareholders may exercise conversion rights again on May 15, 2031, & every five years thereafter while shares remain outstanding.
Full terms & risks are detailed in the prospectus available on SEDAR+ at www.sedarplus.ca.