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

Company: EMERA INC
Filing Date: 2025-12-05
Form: F-10EF
Chunk 12
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; maintenance of adequate insurance coverage; changes in customer energy usage patterns; developments in technology that could reduce
demand for electricity; climate change risk; weather risk, including higher frequency and severity of weather events; risk of wildfires;
unanticipated maintenance and other expenditures; system operating and maintenance risk; derivative financial instruments and hedging;
interest rate risk; inflation risk; counterparty risk; disruption of fuel supply; country risks; environmental risks; foreign exchange;
regulatory and government decisions, including changes to environmental, financial reporting and tax legislation; risks associated with
pension plan performance and funding requirements; loss of service area; risk of failure of information technology infrastructure and
cybersecurity risks; uncertainties associated with infectious diseases, pandemics and similar public health threats; market energy sales
prices; labour relations; and availability of labour and management resources.

For additional information
with respect to Emera’s risk factors, reference should be made to the section of this Prospectus entitled “Risk Factors”
and to Emera’s continuous disclosure materials filed from time to time on SEDAR+ at www.sedarplus.ca.

READERS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON FORWARD-LOOKING INFORMATION AS ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THE PLANS, EXPECTATIONS, ESTIMATES OR INTENTIONS AND STATEMENTS EXPRESSED IN THE FORWARD-LOOKING INFORMATION. ALL FORWARD-LOOKING INFORMATION IN THIS PROSPECTUS AND IN THE DOCUMENTS INCORPORATED HEREIN BY REFERENCE IS QUALIFIED IN ITS ENTIRETY BY THE ABOVE CAUTIONARY STATEMENTS AND, EXCEPT AS REQUIRED BY LAW, EMERA UNDERTAKES NO OBLIGATION TO REVISE OR UPDATE ANY FORWARD-LOOKING INFORMATION AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.

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EMERA INCORPORATED</div>

Emera is a North American provider
of energy services, owning and operating a portfolio of cost-of-service, rate-regulated electric and gas utilities serving approximately
2.7 million utility customers in Florida, Atlantic Canada, New Mexico and the Caribbean. Emera is headquartered in Halifax, Nova Scotia,
with approximately $43 billion in assets as of December 31, 2024 and 2024 revenues of approximately $7.2 billion. Emera’s reportable
segments include the following:

| · | Florida Electric Utility, which consists of Tampa Electric, a vertically integrated electric utility engaged 
 in the generation,