Company: EMICF
Filing Date: 2025-09-29
Form Type: 424B2
Source: 0000950103-25-012357
Chunk: 35

Company: EMERA INC
Filing Date: 2025-09-29
Form: 424B2
Chunk 35
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, published by the Board of Governors of the U.S. Federal Reserve
System (or any successor thereto).

The “most recent H.15”
means the H.15 published closest in time but prior to the close of business on the second business day prior to the applicable Reset Date.

“Reset Date”
means the First Reset Date and of every fifth year after 2031.

“Reset Interest Determination
Date” means, in respect of any Reset Period, the day falling two business days prior to the first day of such Reset Period.

“Reset Period”
means the period from and including the First Reset Date to but excluding the next following Reset Date and thereafter each period from
and including a Reset Date to but excluding the next following Reset Date, or the maturity date or date of redemption or repayment, as
the case may be.

As used under this caption
“Description of the Notes,” the term “business day” means, unless otherwise expressly stated, any day other than
(i) a Saturday or Sunday or (ii) a day on which banks and trust companies in The City of New York are authorized or obligated by law,
regulation or executive order to remain closed.

The term “calculation
agent” means, at any time, the entity appointed by the Issuer and serving as such agent with respect to the Notes at such time.
Unless the Issuer has validly called all of the outstanding Notes for redemption on a redemption date occurring prior to the First Reset
Date, the Issuer will appoint a calculation agent for the Notes prior to the Reset Interest Determination Date immediately preceding the
First Reset Date; provided that, if the Issuer has called all of the outstanding Notes for redemption on a redemption date occurring prior
to the First Reset Date but the Issuer does not redeem all of the outstanding Notes on such redemption date, the Issuer will appoint a
calculation agent for the Notes as promptly as practicable after such proposed redemption date. The Issuer may terminate any such appointment
and may appoint a successor calculation agent at any time and from time to time (so long as there shall always be a calculation agent
in respect of the Notes when so required). The Issuer may appoint Emera or an affiliate of Emera as calculation agent.

As provided above, the applicable
interest rate for each Reset Period will be determined by the calculation agent as of the applicable Reset Interest Determination Date.
Promptly upon such determination, the calculation agent will notify us of the interest rate for the Reset Period