Emera Incorporated : January/February 2023 Investor Presentation

Investor Presentation

January & February 2023

Forward Looking Information, Non-GAAP Measures & Other

FORWARD-LOOKING INFORMATION

This document contains "forward-looking information"

statements which reflect management's current view with respect to the Company's expectationsregarding future growth, results of operations, performance, carbon dioxide emissions

reduction goals, business prospects and opportunities, and may not be appropriate for other purposes within the meaning of applicable Canadiansecurities laws. All such information and statements are made pursuant to safe harbourprovisions contained in applicable securities legislation. The words

"anticipates", "believes", "budget", "could", "estimates", "expects", "forecast", "intends", "may", "might", "plans", "projects", "schedule", "should", "targets", "will", "would" and

similar expressions are often intended to identify forward- looking information, althoughnot all forward-looking

information contains these identifyingwords. The forward- looking informationreflects management's current beliefs and is based on information currently available to Emera's management and should not be read as guarantees of future

events, performance or results, and will not necessarily be

accurate indicationsof whether, or the time at which, such events, performance or results will be achieved.

The forward-lookinginformationis based on reasonable assumptions and is subject to risks, uncertainties and other factors that could cause actual results to differ materially from

historical results or results anticipated by the forward-looking information.

Factors that couldcause results or events to differ from current expectations include without limitation: regulatory risk;

operating and maintenance risks; changes in economic conditions; commodity price and availability risk; liquidity and capital market risk; future dividend growth; timing and costs associated with certain capital investment; the expected impacts on Emera of challenges in the global economy; estimated energy consumption rates; maintenance of adequate insurance coverage; changes in customer energy usage patterns; developments in technologythat couldreduce demand for electricity; global climate change; weather; unanticipated maintenance and other expenditures; system operating and maintenance risk; derivative financial instruments and hedging; interest rate 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, such as the COVID-19 novel coronavirus pandemic; market energy sales prices; labourrelations; and availability of

labourand management resources. 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 document 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 informationas a result of new information, future events or otherwise.

Nothing in this document should be construed as an offer or sale of securities of Emera or any other person.

NON-GAAP FINANCIAL MEASURES AND RATIOS

Emera uses financial measures and ratios that do not have standardized meaning under USGAAP and may not be comparable to similar measures presented by other entities. Emera calculates the non-GAAP measures and ratios by adjusting certain GAAP measures for specific items. Management believes excluding these items better distinguishes the ongoing operations of the business and allows investors to better understand and evaluate the business. Refer to the "Non-GAAP Financial Measures and Ratios" sectionof Emera's Q4 2021 MD&A which is incorporated herein by reference and can be found on SEDAR at www.sedar.com. Reconciliationto the nearest GAAP measure is included in the appendix

OTHER

Rate base is a financial measure specific to rate-regulated

utilities that is not intended to represent any financial measure as defined by GAAP. The measure is required by the regulatory authorities in the jurisdictionswhere Emera's rate-regulated

subsidiaries or equity investments operate, a summary of which can be found in our MD&A. The calculation of this measure as presented may not be comparable to similarly titled measures

used by other companies.	2

Table of Contents

Capital Plan	Regulatory	Appendix
Page 11	Page 29	Page 39

Financial Highlights	ESG	Portfolio
Page 4	Page 17	Page 31

3

Financial Highlights

4

Emera at a Glance

$5.8B

2021 revenue1

42%

of Board Directors are

$34B

total assets1

75%	39%
Capital plan focused in	reduction in CO₂ emissions
Florida	since 20051
2.5M	$5.3B+
customers	capital committed to cleaner,
	reliable energy through 2025

1,365 MW

installed renewable

capacity 1

65%

reduction in use of coal in generation (GWh) since 20091

women, including our

Chair2

1.06	Injury Rate across Emera -
OSHA3	8% improvement over
five-year average of 1.151

Invested in our communities -

$13M with $1.9M directed to diversity initiatives1

8.8 annualized total shareholder

• return over last 10 years2

63%	annual USD Earnings4

95%

of adjusted net

income4, excluding corporate net loss, from regulated utilities

1As at or for the 12 months ended December 31, 2021 2As at December 31, 2022

3 OSHA is the Occupational Safety & Health Administration.

5

4 Based on 2021 adjusted net income, excluding corporate net loss of $231 million. Adjusted net income is a non -GAAP measure. Please refer to appendix for reconciliation to reported earnings.