Company: EMICF
Filing Date: 2025-09-30
Form Type: 424B2
Source: 0000950103-25-012565
Chunk: 75

Company: EMERA INC
Filing Date: 2025-09-30
Form: 424B2
Chunk 75
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 not a “specified non-resident shareholder” of
Emera for purposes of the Tax Act or a non-resident person not dealing at arm’s length with a “specified shareholder”
(within the meaning of Subsection 18(5) of the Tax Act) of Emera; and (5) is not an entity in respect of which Emera is a “specified
entity” (as defined in the Tax Act) and is not a “specified entity” in respect of any

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transferee resident (or deemed
to be resident) in Canada to whom the purchaser disposes of the notes (a “Non-Canadian Holder”). Special rules, which are
not discussed in this summary, may apply to a Non-Canadian Holder that is an insurer that carries on an insurance business in Canada and
elsewhere.

This summary is based on
the current provisions of the Tax Act and on counsel’s understanding of the current administrative policies and assessing practices
of the Canada Revenue Agency (the “CRA”) published in writing prior to the date hereof. This summary takes into account all
specific proposals to amend the Tax Act publicly announced by or on behalf of the Minister of Finance (Canada) prior to the date hereof
(the “Proposed Amendments”) and assumes that all Proposed Amendments will be enacted in the form proposed. However, no assurances
can be given that the Proposed Amendments will be enacted as proposed, or at all. This summary does not otherwise take into account or
anticipate any changes in law or administrative policy or assessing practice of the CRA whether by legislative, administrative or judicial
action nor does it take into account tax legislation or considerations of any province, territory or foreign jurisdiction, which may differ
from those discussed herein.

This summary is of a general
nature only and is not, and is not intended to be, legal or tax advice to any particular holder. This summary is not exhaustive of all
Canadian federal income tax considerations. Accordingly, prospective purchasers of notes should consult their own tax advisors having
regard to their own particular circumstances.

No Canadian withholding tax
will apply to interest, principal and premium, if any, paid or credited to a Non-Canadian Holder by the Issuer on a note or to the proceeds
received by a Non-Canadian Holder on the disposition of a note including a redemption, payment on maturity or repurchase.

No other tax on income or
gains will be payable by a Non-Canadian Holder