EMERA INC

The Emera Code of Conduct (the “Code”) was revised and became effective

on January 1, 2026 and applies to all

directors, officers and employees of the Registrant, including

the CEO and CFO. The revisions to the Code included: (i)

the addition of guidance regarding the responsible use of business expenses,

travel and entertainment, including

strengthened expectations for ethical conduct and accountability; (ii) enhanced

guidance on the responsible use of

artificial intelligence tools, including an expectation

to verify the accuracy of AI-generated information used in business

communications and work product; and (iii) an update to the Code’s

waiver provisions to clarify that any waiver for

executive officers or directors may be granted only by

the Company’s Board of Directors (or a

Board committee) and will

be disclosed to the extent required by applicable law,

regulation or stock exchange requirement. Other administrative

updates were made to the Code that were not substantive.

Since the adoption of the Code, there have not been any waivers, including implied

waivers, from any provision of the

Code. A copy of the Code can be found on Emera’s

internet website at the following address:

https://www.emera.com/about

-us/code-of-conduct. Any amendments or waivers to the Code with respect to

any of the

directors, officers and employees covered by it will be posted

promptly on the Registrant’s website. Information

contained

or otherwise accessed through the Registrant’s

website or any other website, other than those documents filed as exhibits

hereto or otherwise specifically referred to herein, does not form part of

this Form 40-F,

and any reference to the

Registrant’s website herein is as an inactive

textual reference only.

The Code was furnished to the Commission on January 12, 2026 as Exhibit 99.1

to a report on Form 6-K and is

incorporated by reference herein as Exhibit 99.9.