Emera Incorporated Announces Results of Series C First Preferred Share Conversion

HALIFAX, Nova Scotia--(BUSINESS WIRE)--Emera Incorporated (“Emera” or the “Company”) (TSX: EMA) announced today that after having taken into account all conversion notices received from holders of its outstanding Cumulative Rate Reset First Preferred Shares, Series C (the “Series C Shares”) by the July 31, 2023 deadline for conversion notices, less than the 1,000,000 Series C Shares required to give effect to conversions into Cumulative Floating Rate First Preferred Shares, Series D (the “Series D Shares”) were tendered for conversion. As a result, none of Emera’s outstanding Series C Shares will be converted into Series D Shares on August 15, 2023. The Series C Shares will continue to be listed on the Toronto Stock Exchange (TSX) under the symbol EMA.PR.C.

Forward Looking Information

This news release contains forward-looking information within the meaning of applicable securities laws with respect to Emera, the Series C Shares and the Series D Shares. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management’s current beliefs and are based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that Emera’s assumptions may not be correct and that actual results may differ materially from such forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera’s securities regulatory filings, including under the heading “Enterprise Risk and Risk Management” in Emera’s annual Management’s Discussion and Analysis, and under the heading “Principal Financial Risks and Uncertainties” in the notes to Emera’s annual and interim financial statements, which can be found on SEDAR+ at www.sedarplus.ca.

About Emera

Emera is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $39 billion in assets and 2022 revenues of more than $7.5 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in three Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H, EMA.PR.J and EMA.PR.L. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedarplus.ca.