Company: EMICF
Filing Date: 2025-09-29
Form Type: 424B2
Source: 0000950103-25-012357
Chunk: 26

Company: EMERA INC
Filing Date: 2025-09-29
Form: 424B2
Chunk 26
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 and credit markets and prevailing
interest rates have fluctuated in the past and are likely to fluctuate in the future and any fluctuation may impact the trading price
of the Notes.

We expect the Notes to be
rated by “nationally recognized statistical rating organizations” within the meaning of the U.S. Securities Exchange Act of
1934, as amended (the “Exchange Act”). The Notes may in the future be rated by additional rating agencies. We cannot assure
you that any rating so assigned will remain for any given period of time or that a rating will not be lowered or withdrawn entirely by
a rating agency if, in that rating agency’s judgment, circumstances relating to the basis of the rating, such as adverse changes
to our business, so warrant. Any lowering or withdrawal of a rating by a rating agency could reduce the liquidity or market value of the
Notes.

Rating agencies may change
their practices for rating the Notes, which change may affect the market price of the Notes. In addition, the Issuer may redeem the Notes
if a rating agency makes certain changes in the equity credit methodology for securities such as the Notes.

The rating agencies that
currently or may in the future publish a rating for the Issuer, including Moody’s Investors Service, Inc., S&P Global Ratings
and Fitch Ratings, Inc., each of which is expected to publish a rating of the Notes, may, from time to time in the future, change the
way they analyze securities with features similar to the Notes. This may include, for example, changes to the relationship between ratings
assigned to an issuer’s senior securities and ratings assigned to subordinated securities with features similar to the Notes. If
any rating agencies change their practices for rating these types of securities in the future, and the ratings of the Notes are subsequently
lowered, the trading price of the Notes could be negatively affected. In addition, the Issuer may redeem the Notes, at its option, in
whole but not in part, if a rating agency makes certain changes in the equity credit methodology for securities such as the Notes. See
“Description of the Notes—Redemption—Redemption Following a Rating Agency Event.”

Your ability to transfer
the Notes may be limited by the absence of a trading market for the Notes.

There is no established trading
market for the Notes, and we have no plans to list the Notes on a securities exchange. We have been advised by each underwriter of the
Notes that it presently intends to make a market for the