On December 5, 2025, Emera Incorporated filed a prospectus supplement to establish an at-the-market (ATM) equity program qualifying the sale of up to $600,000,000 of common shares on the TSX and NYSE. Shares may be sold from time to time at prevailing market prices through Canadian agents BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., and Scotia Capital Inc., and U.S. agents BMO Capital Markets Corp., RBC Capital Markets, LLC, and Scotia Capital (USA) Inc., including block and privately negotiated transactions or any method permitted by law. The company will pay the agents up to 2% of the gross sales price per share, and there is no minimum raise, meaning the program may conclude after a small portion is sold or none at all. Net proceeds are for general corporate purposes and may be used to reduce indebtedness owed to lending affiliates of the agents. Key risks disclosed include potential market price volatility, dilution from ATM sales and future offerings, discretion over timing and use of proceeds, and the holding-company structure that can affect dividend capacity. The TSX and NYSE have conditionally approved listing of the ATM-issued shares, subject to Emera meeting all requirements before the first sale.

Legal advisors to Emera are its Corporate Secretary, Osler, Hoskin & Harcourt LLP (Canada), and Davis Polk & Wardwell LLP (U.S.); the agents are advised by Stikeman Elliott LLP (Canada) and Hunton Andrews Kurth LLP (U.S.).