Company: EMICF
Filing Date: 2025-09-30
Form Type: 424B2
Source: 0000950103-25-012565
Chunk: 67

Company: EMERA INC
Filing Date: 2025-09-30
Form: 424B2
Chunk 67
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 to any special tax accounting rules under Section 451 of the Code; |

| · | tax-exempt organizations; or |

| · | persons subject to the alternative minimum tax. |

If an entity or arrangement
treated as a partnership for U.S. federal income tax purposes holds Notes, the U.S. federal income tax treatment of a partner will generally
depend upon the status of the partner and the activities of the partnership. Partners of partnerships holding Notes should consult their
tax advisors as to the particular U.S. federal income tax consequences to them of holding and disposing of the Notes.

This summary is based on
the Code, administrative pronouncements, judicial decisions and final, temporary and proposed U.S. Treasury Regulations in effect as of
the date hereof, changes to any of which subsequent to the date of this prospectus supplement may affect the tax consequences described
herein, possibly with retroactive effect.

This summary addresses only
U.S. federal income tax consequences. Persons considering the purchase of Notes should consult their tax advisors with regard to the application
of the U.S. federal income or other federal tax laws (including estate and gift tax laws and the Medicare tax on investment income) to
their particular situations as well as any tax consequences arising under the laws of any state, local or foreign taxing jurisdiction.

<div align='center'>S-37</div>

Classification of the Notes

The determination of whether
a security should be classified as indebtedness or equity for U.S. federal income tax purposes requires a judgment based on all relevant
facts and circumstances. There is no statutory, judicial or administrative authority that directly addresses the U.S. federal income tax
treatment of securities similar to the Notes. Under current law and based on the facts contained in this prospectus supplement, the terms
of the Indenture and the Notes, and certain assumptions and representations, the Notes should be classified for U.S. federal income tax
purposes as indebtedness and interest thereon should be treated as U.S. source (although there is no controlling authority directly on
point with respect to the treatment of the Notes and interest thereon). This treatment is not binding on the Internal Revenue Service
(the “IRS”) or the courts. Moreover, no rulings have been or will be sought from the IRS with respect to the transactions
described in this prospectus supplement. Accordingly, the Issuer cannot assure holders that the IRS will not challenge the treatment described
herein or that a court would not sustain such a challenge. If