Company: EMICF
Filing Date: 2025-09-29
Form Type: 424B2
Source: 0000950103-25-012357
Chunk: 28

Company: EMERA INC
Filing Date: 2025-09-29
Form: 424B2
Chunk 28
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 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.

If the Issuer defers interest
payments on the Notes, a holder of the Notes subject to U.S. federal income tax on a net income basis will be required to accrue interest
income for U.S. federal income tax purposes in respect of such holder’s proportionate share of the accrued but unpaid interest on
the Notes, even if such holder normally reports income when received. As a result, a holder will be required to include the accrued interest
in such holder’s gross income for U.S. federal income tax purposes even though such holder will not have received any cash. A holder’s
adjusted tax basis in a Note generally will be increased by such amounts that it was required to include in gross income. In addition,
unpaid interest accrued on the Notes during an Optional Deferral Period will be payable on the interest payment date immediately following
the last day of such Optional Deferral Period. If a holder sells its Notes on or before the record date for such interest payment date,
then all of the interest accrued