Company: EMICF
Filing Date: 2025-09-30
Form Type: 424B2
Source: 0000950103-25-012565
Chunk: 101

Company: EMERA INC
Filing Date: 2025-09-30
Form: 424B2
Chunk 101
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2024 – $42,951 million).                                                            |

| (4) | Includes $180                                                                 
 million (2024 – $184 million) in amounts due from non-guarantor subsidiaries. |

| (5) | Includes $5,727                                                                 
 million (2024 – $5,980 million) in amounts due from non-guarantor subsidiaries. |

<div align='center'>11

Use of Proceeds</div>

Unless otherwise specified
in a prospectus supplement that accompanies this prospectus, the net proceeds from the sale of the Debt Securities will be used for general
corporate purposes including, without limitation, to repay existing indebtedness. We may invest funds that we do not immediately use in
short-term marketable securities. We may from time to time offer Debt Securities and incur additional indebtedness other than through
an offering under this prospectus and any applicable prospectus supplements.

<div align='center'>12

Consolidated Capitalization</div>

There have been no material
changes in the share and loan capital of Emera, on a consolidated basis, since June 30, 2025. See “Use of Proceeds”.

<div align='center'>13

Description of
Debt Securities and Guarantees</div>

This section describes certain
general terms and provisions of the Debt Securities. We will provide the particular terms and provisions of a series of Debt Securities
and a description of how the general terms and provisions described below apply to that series in a prospectus supplement. Thus, for a
description of the terms of a particular series of Debt Securities, you must refer to both the applicable prospectus supplement relating
to that series and the description of the Debt Securities contained in this prospectus.

We may issue senior or subordinated
Debt Securities under, in the case of senior Debt Securities, one or more senior debt indentures to be entered into among Emera, EUSHI
Finance, EUSHI and the applicable senior notes trustees (the “Senior Indentures”), and, in the case of subordinated
Debt Securities, under an indenture, dated June 18, 2024, between EUSHI Finance, the Guarantors and Equiniti Trust Company, LLC (as may
be amended and/or supplemented from time to time, the “Subordinated Indenture” and together with the Senior Indenture,
the “Indentures”). An indenture is a contract between a financial institution, acting on your behalf as trustee of
the