Emera Incorporated ("Emera" or the "Company") (TSX/NYSE:EMA) announced today that after having taken into account all conversion notices received from holders of its outstanding Cumulative Minimum Rate Reset First Preferred Shares, Series J (the "Series J Shares") by the April 30, 2026 deadline for conversion notices, less than the 1,000,000 Series J Shares required to give effect to conversions into Cumulative Floating Rate First Preferred Shares, Series K (the "Series K Shares") were tendered for conversion. As a result, in accordance with certain conditions set out in the prospectus supplement of the Company dated March 26, 2021, to the short form base shelf prospectus dated March 12, 2021, relating to the issuance of the Series J Shares (collectively, the "Prospectus"), none of Emera's outstanding Series J Shares will be converted into Series K Shares on May 15, 2026. The Series J Shares will continue to be listed on the Toronto Stock Exchange (TSX) under the symbol EMA.PR.J.

Holders will have the opportunity again to elect to convert their Series J Shares into Series K Shares on May 15, 2031 and every five years thereafter as long as the Series J Shares remain outstanding. For more information on the terms of, and risks associated with, an investment in Series J Shares and Series K Shares, please see the Company's Prospectus, which is available on SEDAR+ at www.sedarplus.ca.

Forward Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning of applicable U.S. securities laws including, without limitation, the U.S. Private Securities Litigation Reform Act of 1995, (collectively referred to as "forward-looking information") with respect to Emera, including without limitation, statements about the Series J Shares and the Series K Shares. Undue reliance should not be placed on this forward-looking information, which applies only as of the date hereof. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. This forward-looking information reflects Emera management's current beliefs and is 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 those expressed or implied by such forward-looking information. The forward-looking information in this news release is made only as of the date hereof, and except as required by law, Emera disclaims any intention or obligation to update or revise any forward-looking information as a result of new information, future events or otherwise. 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 or on EDGAR at www.sec.gov.

About Emera

Emera (TSX/NYSE:EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.7 million customers in the United States, Canada and the Caribbean. Our team of 7,800 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera's common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange. Additional information can be accessed at www.emera.com, on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.

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Emera Inc.

Investor Relations

Dave Bezanson, SVP, Capital Markets

902-233-2674

dave.bezanson@emera.com

Media

Emera Corporate Communications

media@emera.com

Emera Incorporated Announces Results of Series J First Preferred Share Conversion