Company: EMICF
Filing Date: 2025-09-29
Form Type: 424B2
Source: 0000950103-25-012357
Chunk: 74

Company: EMERA INC
Filing Date: 2025-09-29
Form: 424B2
Chunk 74
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 sale, exchange or retirement of the
Notes. However, under proposed U.S. Treasury Regulations (the preamble to which specifies that taxpayers are permitted to rely on them
pending finalization), no withholding will apply on payments of gross proceeds. Non-U.S. Holders, and U.S. Holders holding Notes through
a non-U.S. intermediary, should consult their tax advisors regarding the potential application of FATCA to the Notes.

Material Canadian Income Tax Considerations

The following summary describes
the principal Canadian federal income tax considerations under the Tax Act generally applicable to a purchaser who acquires notes, including
entitlement to all payments thereunder, as a beneficial owner pursuant to this offering and who, at all relevant times, for purposes of
the application of the Tax Act, (1) is not, and is not deemed to be, resident in Canada; (2) deals at arm’s length with the Issuer
and the Guarantors, and with any transferee resident (or deemed to be resident) in Canada to whom the purchaser disposes of the notes;
(3) does not use or hold the notes in a business carried on in Canada; (4) is 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

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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 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