Company: EMICF
Filing Date: 2025-09-30
Form Type: 424B2
Source: 0000950103-25-012565
Chunk: 28

Company: EMERA INC
Filing Date: 2025-09-30
Form: 424B2
Chunk 28
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 payment moratorium on the
Notes and may choose to do that on one or more occasions. Moreover, following the end of any Optional Deferral Period, if all amounts
then due on the Notes are paid, the Issuer could immediately start a new Optional Deferral Period of up to 20 consecutive semi-annual
Interest Payment Periods. No interest will be paid or payable on the Notes during any Optional Deferral Period unless the Issuer elects,
at its option, to redeem Notes during such Optional Deferral Period, in which case accrued and unpaid interest to but excluding the redemption
date will be due and

<div align='center'>S-14</div>

payable on such redemption date
only on the Notes being redeemed, or unless the principal of and interest on the Notes shall have been declared due and payable as a result
of an Event of Default with respect to the Notes, in which case all accrued and unpaid interest on the Notes shall become due and payable.
Instead, interest on the Notes would be deferred but would continue to accrue at the then-applicable interest rate on the Notes (as reset
from time to time on any Reset Date occurring during such Optional Deferral Period in accordance with the terms of the Notes). In addition,
during any Optional Deferral Period, interest on the deferred interest would accrue at the then-applicable interest rate on the Notes
(as reset from time to time on any Reset Date occurring during such Optional Deferral Period in accordance with the terms of the Notes),
compounded semi-annually, to the extent permitted by applicable law. If the Issuer exercises this interest deferral right, the Notes may
trade at a price that does not reflect the value of accrued and unpaid interest on the Notes or that is otherwise substantially less than
the price at which the Notes would have traded if the Issuer had not exercised such deferral right. If the Issuer exercises this interest
deferral right and you sell your Notes during an Optional Deferral Period, you may not receive the same return on your investment as a
holder that continues to hold its Notes until the Issuer pays the deferred interest following the end of such Optional Deferral Period.
In addition, as a result of the Issuer’s right to defer interest payments, the market price of the Notes may be more volatile than
other securities that do not have these rights.

Holders of the Notes subject
to U.S. federal income taxation may have to pay taxes on interest before they receive payments from us.