Company: EMICF
Filing Date: 2025-09-29
Form Type: 424B2
Source: 0000950103-25-012357
Chunk: 66

Company: EMERA INC
Filing Date: 2025-09-29
Form: 424B2
Chunk 66
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 houses, brokers or similar persons or organizations acting in the capacity 
 of underwriters, placement agents or wholesalers) at which a substantial amount of the Notes is sold for money; and                     |

| · | they are held as capital assets within the meaning of Section 1221 of the Internal Revenue Code of 1986, 
 as amended (the “Code”).                                                                                 |

This discussion does not
describe all aspects of U.S. federal income taxes and does not deal with all of the tax consequences that may be relevant to holders in
light of their particular circumstances or to holders subject to special rules such as:

| · | financial institutions; |

| · | insurance companies; |

| · | dealers or traders using a mark-to-market method of tax accounting for the Notes; |

| · | persons holding Notes as part of a hedge, “straddle” or integrated transaction; |

| · | U.S. Holders (as defined below) whose functional currency is not the U.S. dollar; |

| · | regulated investment companies or real estate investment trusts; |

| · | partnerships or other entities classified as partnerships for U.S. federal income tax purposes; |

| · | persons subject to any special tax accounting rules under Section 451 of the Code; |

| · | tax-exempt organizations; or |

| · | persons subject to the alternative minimum tax. |

If an entity or arrangement
treated as a partnership for U.S. federal income tax purposes holds Notes, the U.S. federal income tax treatment of a partner will generally
depend upon the status of the partner and the activities of the partnership. Partners of partnerships holding Notes should consult their
tax advisors as to the particular U.S. federal income tax consequences to them of holding and disposing of the Notes.

This summary is based
on the Code, administrative pronouncements, judicial decisions and final, temporary and proposed U.S. Treasury Regulations in effect
as of the date hereof, changes to any of which subsequent to the date of this prospectus supplement may affect the tax consequences
described herein, possibly with retroactive effect.

This summary addresses only
U.S. federal income tax consequences. Persons considering the purchase of Notes should consult their tax advisors with regard to the application
of the U.S. federal income or other federal tax laws (including estate and gift tax laws and the Medicare tax on investment income) to
their particular situations as well as any tax consequences arising under the laws of any state, local or foreign taxing jurisdiction.

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