Company: EMICF
Filing Date: 2025-12-05
Form Type: F-10EF
Source: 0000950103-25-015822
Chunk: 13

Company: EMERA INC
Filing Date: 2025-12-05
Form: F-10EF
Chunk 13
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 transmission and distribution of electricity in West Central Florida.                     |

| · | Canadian Electric Utilities, which includes: Nova Scotia Power Inc, a vertically-integrated regulated                                     
 electric utility, providing electricity generation, transmission and distribution services as the primary electricity supplier in the     
 Province of Nova Scotia; and a 100 per cent equity interest in NSP Maritime Link Inc., which developed the Maritime Link Project, between 
 the island of Newfoundland and Nova Scotia.                                                                                               |

| · | Other Electric Utilities, which includes Emera (Caribbean) Incorporated, a holding company with regulated                              
 electric utilities that include: The Barbados Light & Power Company Limited, a vertically integrated regulated electric utility on     
 the island of Barbados; Grand Bahama Power Company Limited, a vertically integrated regulated electric utility on Grand Bahama Island; 
 and a 19.5% indirect equity interest in St. Lucia Electricity Services Ltd.                                                            |

| · | Emera’s other segment includes investments in energy-related non-regulated companies that are below                                      
 the required threshold for reporting as separate segments and corporate expense and revenue items that are not directly allocated to the 
 operations of Emera’s subsidiaries and investments. This includes: Emera Energy, which consists of Emera Energy Services, Inc.,          
 a physical energy business that purchases and sells natural gas and electricity  and provides related energy asset management            
 services; Brooklyn Power Corporation, a 30 MW biomass co-generation electricity facility in Brooklyn, Nova Scotia; a 50% joint venture   
 interest in Bear Swamp Company LLC, a 660 MW pumped storage hydro-electric facility in northwestern Massachusetts; Emera US Finance LP,  
 EUSHI Finance, Inc, and TECO Finance, Inc.,  financing subsidiaries of Emera; Emera US Holdings Inc., a wholly owned holding             
 company for certain of Emera’s assets located in the U.S..                                                                               |

<div align='center'>USE OF PROCEEDS</div>

Emera may offer Common Shares
from time to time, up to an aggregate sale price of $600,000,000 (or the equivalent in U.S. dollars determined using the daily exchange
rate posted by the Bank of Canada on the date the Common Shares are sold) during the 37 month period ending January 5, 2029 that this
Prospectus, including any amendments hereto, remains valid. Except as otherwise provided in any Prospectus Supplement, the
net proceeds from the sale of the Common Shares, after deducting costs of issue and the agents’,