Company: EMICF
Filing Date: 2025-09-30
Form Type: 424B2
Source: 0000950103-25-012565
Chunk: 45

Company: EMERA INC
Filing Date: 2025-09-30
Form: 424B2
Chunk 45
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 not in part, at any time following the occurrence and during the continuance of a Tax Event (as defined
below) at a redemption price in cash equal to 100% of the principal amount of the Notes, plus, subject to the terms described in the first
paragraph under “—Redemption Procedures; Cancellation of Redemption” below, accrued and unpaid interest on the Notes
to but excluding the redemption date.

A “Tax Event”
means that the Issuer has received an opinion of counsel experienced in such matters to the effect that, as a result of:

<div align='center'>S-24</div>

| a. | any amendment to, clarification of, or change, including any announced prospective change, in the laws                                        
 or treaties of the United States or any of its political subdivisions or taxing authorities, or any regulations under those laws or treaties; |

| b. | an administrative action, which means any judicial decision or any official administrative pronouncement,                                 
 ruling, regulatory procedure, notice or announcement, including any notice or announcement of intent to issue or adopt any administrative 
 pronouncement, ruling, regulatory procedure or regulation;                                                                                |

| c. | any amendment to, clarification of, or change in the official position or the interpretation of any administrative                           
 action or judicial decision or any interpretation or pronouncement that provides for a position with respect to an administrative action     
 or judicial decision that differs from the previously generally accepted position, in each case by any legislative body, court, governmental 
 authority or regulatory body, regardless of the time or manner in which that amendment, clarification or change is introduced or made        
 known; or                                                                                                                                    |

| d. | a threatened challenge asserted in writing in connection with a tax audit of us or any of our affiliates                                 
 or subsidiaries, or a publicly-known threatened challenge asserted in writing against any other taxpayer that has raised capital through 
 the issuance of securities that are substantially similar to the Notes,                                                                  |

which amendment, clarification or change is effective
or the administrative action is taken or judicial decision, interpretation or pronouncement is issued or threatened challenge is asserted
or becomes publicly-known after the date of this prospectus supplement, there is more than an insubstantial risk that interest payable
by the Issuer on the Notes is not deductible, or within 90 days would not be deductible, in whole or in part, by the Issuer (or a member
of the U.S. consolidated group of which the issuer is a member) for U.S. federal income tax purposes.

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