Company: EMICF
Filing Date: 2025-09-30
Form Type: 424B2
Source: 0000950103-25-012565
Chunk: 49

Company: EMERA INC
Filing Date: 2025-09-30
Form: 424B2
Chunk 49
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, levy, impost, assessment or other governmental charge imposed or levied
by or on behalf of the Government of Canada or any province or territory thereof or by any authority or agency therein or thereof having
power to tax (“Canadian Taxes”), unless Emera, EUSHI or the Issuer, as the case may be, is required to withhold or deduct
Canadian Taxes by law or by the interpretation or administration thereof. If Emera, EUSHI or the Issuer, as the case may be, is so required
to withhold or deduct any amount for or on account of Canadian Taxes from any

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payment made under or with respect
to the Notes or the Guarantees, Emera, EUSHI or the Issuer, as the case may be, will pay to each holder of such Notes as additional interest
such additional amounts (“Additional Amounts”) as may be necessary so that the net amount received by each such holder after
such withholding or deduction (and after deducting any Canadian Taxes on such Additional Amounts) will not be less than the amount such
holder would have received if such Canadian Taxes had not been withheld or deducted. However, no Additional Amounts will be payable with
respect to a payment made to a recipient or beneficial owner of such payment:

| (i) | with which Emera, EUSHI or the Issuer, as the case may be, does not deal at arm’s length (within 
 the meaning of the Income Tax Act (Canada) (the “Tax Act”)) at the time of making such payment;  |

| (ii) | which is subject to such Canadian Taxes by reason of the recipient or beneficial owner being 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 shareholder” (within the meaning of subsection 18(5) of the Tax Act) of Emera;                                  |

| (iii) | which is subject to such Canadian Taxes by reason of the recipient or beneficial owner being an entity 
 in respect of which Emera is a “specified entity” as defined in subsection 18.4(1) of the Tax Act;     |

| (iv) | which is subject to such Canadian Taxes by reason of the recipient or beneficial owner being a resident,                                   
 domicile or national of, or engaged in business or maintaining a permanent establishment or other physical presence in or