Company: EMICF
Filing Date: 2025-09-30
Form Type: 424B2
Source: 0000950103-25-012565
Chunk: 32

Company: EMERA INC
Filing Date: 2025-09-30
Form: 424B2
Chunk 32
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 |                 689 |     |     |                     405 |
| Long-term liabilities(5) |                        |     |               9,303 |     |     |                   9,838 |
| Total liabilities        |                        |     |               9,992 |     |     |                  10,243 |

| (1) | Includes $281 million (2024 – $220 million) in amounts due from non-guarantor subsidiaries. |

| (2) | Includes $2,347 million (2024 – $2,345 million) in amounts due from non-guarantor subsidiaries. |

| (3) | Excludes investments in non-guarantor subsidiaries. Emera’s total consolidated assets are $42,531 
 million (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'>S-17

Use of Proceeds</div>

We estimate that the net
proceeds from this offering of the Notes, after deducting the underwriting discount and our estimated offering expenses, will be approximately
US$740.0 million. We intend to use the net proceeds from this offering 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.

<div align='center'>S-18

Description of
the Notes</div>

As used below, the terms (i) “we,” “our,” and “us” refer to Emera Incorporated, EUSHI Finance, Inc., Emera US Holdings Inc., and, if the context requires, Emera Incorporated’s subsidiaries, (ii) “Emera” refers to Emera Incorporated and, if the context requires, its subsidiaries, (iii) the “Issuer” refers to EUSHI Finance, Inc., (iv) the “Guarantors” refers collectively to Emera Incorporated and Emera US Holdings Inc., and (v) “EUSHI” refers to Emera US Holdings Inc.

We are offering US$750,000,000 6.250% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056 (the “Notes”), which will be registered under the Securities