EMERA INC

ATM Program

On November 14, 2023, Emera renewed its ATM Program that allows the Company to issue up to $600 million of common shares from treasury to the public from time to time, at the Company’s discretion, at the prevailing market price. The ATM Program was renewed pursuant to a prospectus supplement dated November 14, 2023 to the Company’s short form base shelf prospectus dated October 3, 2023.

During 2023, approximately 8.29 million common shares were issued under the ATM Program at an average price of $48.27 per share for gross proceeds of $400 million ($397 million, net ofafter-tax issuance costs) and an aggregate gross sales limit of $200 million remained available for issuance under the ATM Program.

On November 18, 2024, Emera increased the size of the ATM Program to allow the Company to issue up to $1 billion of common shares from treasury to the public from time to time, at the Company’s discretion, at the prevailing market price. The ATM Program was increased by an amendment dated November 18, 2024 to its prospectus supplement dated November 14, 2023 and an amendment dated November 13, 2024 to its short form base shelf prospectus dated October 3, 2023.

During 2024, approximately 5.12 million common shares were issued under the ATM Program at an average price of $51.52 per share for gross proceeds of $264 million ($261 million, net ofafter-tax issuance costs) and an aggregate gross sales limit of $336 million remained available for issuance under the ATM Program.

During 2025, 187,600 common shares were issued under the ATM Program and an aggregate gross sales limit of $326 million remained available for issuance under the ATM Program until its expiry on November 4, 2025.

On December 5, 2025, Emera renewed its ATM Program by filing a prospectus supplement to the Company’s Canadian short form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada. At the same time, Emera filed a US prospectus supplement to the Company’s US base prospectus included in its US registration statement on Form F-10 with the SEC. The ATM Program allows the Company to issue up to $600 million of common shares from treasury to the public from time to time, at the Company’s discretion, at the prevailing market price. The ATM program is expected to remain in effect until January 5, 2029.

During 2026, up to and including February 23, 2026, no common shares were issued under the ATM Program and an aggregate gross sales limit of $600 million remains available for issuance under the ATM Program.