Company: EMICF
Filing Date: 2025-09-29
Form Type: 424B2
Source: 0000950103-25-012357
Chunk: 11

Company: EMERA INC
Filing Date: 2025-09-29
Form: 424B2
Chunk 11
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 industry data prepared by Emera’s
management on the basis of its knowledge of the regulated electric and gas utility industry in which Emera operates (including management’s
estimates and assumptions relating to the industry based on that knowledge). Emera’s management’s knowledge of the regulated
utility industry has been developed through its experience and participation in the industry. Emera’s management believes that its
industry data is accurate and that its estimates and assumptions are reasonable. Third-party sources generally state that the information
contained therein has been obtained from sources believed to be reliable. Although Emera’s management believes the information contained
in the third-party sources is reliable, Emera has not independently verified any of the data from third-party sources referred to in this
prospectus or the documents incorporated by reference herein or analyzed or verified the underlying studies or surveys relied upon or
referred to by such sources, or ascertained the underlying economic assumptions relied upon or referred to by such sources.

<div align='center'>S-vi

Currency</div>

In this prospectus, unless
otherwise specified or the context otherwise requires, all dollar amounts are expressed in Canadian dollars. References to “Canadian
dollars”, “$”, “CAD” or “Cdn$” are to lawful currency of Canada. References to “U.S. dollars”,
“USD”, “US$” or “U.S.$” are to lawful currency of the United States of America.

The following table sets
forth, for each of the periods indicated, the daily average exchange rate, the average of the daily average exchange rates and the high
and low daily average exchange rates of one U.S. dollar in exchange for Canadian dollars as reported by the Bank of Canada.

|            |                  Six 
 months ended June 30 
                 2025 |   2024 |              Year 
 ended December 31 
              2024 |   2023 |   2022 |
|:-----------|---------------------:|-------:|------------------:|-------:|-------:|
| High       |               1.4603 | 1.3821 |            1.4416 | 1.3875 | 1.3856 |
| Low        |               1.3558 | 1.3316 |            1.3316 | 1.3128 | 1.2451 |
| Average    |               1.4094 | 1.3586 |            1.3698 |