Company: EMICF
Filing Date: 2025-09-30
Form Type: 424B2
Source: 0000950103-25-012565
Chunk: 16

Company: EMERA INC
Filing Date: 2025-09-30
Form: 424B2
Chunk 16
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 in the Notes involves certain risks. A prospective purchaser of the Notes should carefully consider the risk factors set forth below as well as the other information contained in this prospectus supplement and the documents incorporated by reference herein before you decide to purchase the Notes, including, without limitation, the risk factors discussed under (i) the heading “Risk Factors” in the Emera’s Annual Information Form dated February 21, 2025 for the year ended December 31, 2024 (filed on EDGAR as Exhibit 99.1 to Emera’s Form 40-F filed February 21, 2025 and incorporated by reference herein); (ii) the heading “Principal Financial Risks and Uncertainties” in note 28 to Emera’s audited consolidated financial statements as at and for the years ended December 31, 2024 and 2023 filed on Exhibit 99.3 to Emera’s Form 40-F filed February 21, 2025; (iii) the heading “Enterprise Risk and Risk Management” in Emera’s Management’s Discussion and Analysis for the year ended December 31, 2024; and (iv) the heading “Principal Financial Risks and Uncertainties” in note 20 to Emera’s unaudited condensed consolidated interim financial statements as at and for the three and six months ended June 30, 2025 and June 30, 2024 filed on Exhibit 99.2 to Emera’s Form 6-K furnished on August 8, 2025. The risks described below are not the only risks that may affect us. Additional risks and uncertainties not currently known to us or those we currently view to be immaterial may also materially and adversely affect our business, financial condition or results of operations. Any of the following risks could materially and adversely affect our business, financial condition or results of operations. In such a case, you may lose all or a part of your investment.

Risks Related to the Notes

Emera has a substantial
amount of indebtedness which may adversely affect its cash flow and ability to operate its business.

Emera has incurred a significant
amount of debt. As of June 30, 2025, Emera has approximately Cdn$20,995 million of total debt outstanding. The implications of such indebtedness
include:

| · | a portion of Emera’s cash flow from operations is dedicated to debt service and may not be available 
 for other purposes;                                                                                  |

| · | limiting Emera