Company: EMICF
Filing Date: 2025-09-29
Form Type: 424B2
Source: 0000950103-25-012357
Chunk: 65

Company: EMERA INC
Filing Date: 2025-09-29
Form: 424B2
Chunk 65
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case may be, will instruct its U.S. agent to receive Notes against payment. After settlement, Clearstream or Euroclear will credit its
participant’s account. Credit for the Notes will appear on the next day (European time).

<div align='center'>S-35</div>

Because settlement is taking
place during New York business hours, DTC participants will be able to employ their usual procedures for sending Notes to the relevant
U.S. agent acting for the benefit of Clearstream or Euroclear participants. The sale proceeds will be available to the DTC seller on the
settlement date. As a result, to the DTC participant, a cross-market transaction will settle no differently than a trade between two DTC
participants.

When a Clearstream or Euroclear
participant wishes to transfer Notes to a DTC participant, the seller will be required to send instructions to Clearstream or Euroclear
through a participant at least one Business Day prior to settlement. In these cases, Clearstream or Euroclear will instruct its U.S. agent
to transfer these Notes against payment for them. The payment will then be reflected in the account of the Clearstream or Euroclear participant
the following day, with the proceeds back-valued to the value date, which would be the preceding day, when settlement occurs in New York.
If settlement is not completed on the intended value date, that is, the trade fails, proceeds credited to the Clearstream or Euroclear
participant’s account will instead be valued as of the actual settlement date.

<div align='center'>S-36

Material Income
Tax Considerations</div>

Each of the summaries under this section “Material Income Tax Considerations” is of a general nature only and is not intended to be, and should not be construed to be, legal or tax advice to any particular holder, and no representation is made with respect to the United States federal tax consequences or Canadian tax consequences to any particular holder. Accordingly, prospective purchasers are urged to consult their own tax advisors with respect to the United States federal tax consequences or Canadian tax consequences relevant to them, having regard to their particular circumstances.

Material U.S. Federal Income Tax Considerations

The following are the
material U.S. federal income tax consequences of ownership and disposition of the Notes. This discussion applies only to Notes that
meet both of the following conditions:

| · | they are purchased by those initial holders who purchase Notes at the “issue price,” which                                              
 will equal the first price to the public (not including bond