Ms. Stephanie Amaimo reports

FORTIS INC. ANNOUNCES PRICING OF SENIOR UNSECURED NOTES

Fortis Inc. has priced an offering by private placement, pursuant to the exemptions from the prospectus requirements of applicable Canadian securities laws, of $500-million aggregate principal amount of 5.677-per-cent senior unsecured notes due Nov. 8, 2033. The offering is being made on a best efforts basis through a syndicate of agents co-led by RBC Dominion Securities Inc., BMO Nesbitt Burns Inc. and Scotia Capital Inc. (collectively, the joint bookrunners), and TD Securities Inc., CIBC World Markets Inc., Desjardins Securities Inc., National Bank Financial Inc., Morgan Stanley Canada Ltd., Merrill Lynch Canada Inc., MUFG Securities (Canada) Ltd. and Wells Fargo Securities Canada Ltd. (collectively, the co-managers, and together with the joint bookrunners, the agents), pursuant to an agency agreement entered into earlier today by the corporation and the agents. The offering is expected to close on Nov. 8, 2023.

Interest on the notes will be payable semi-annually in arrears on May 8 and Nov. 8 of each year, commencing on May 8, 2024. The net proceeds of the offering will be used to repay borrowings under the corporation's revolving credit facility and for general corporate purposes.

About Fortis Inc.

Fortis is a well-diversified leader in the North American regulated electric and gas utility industry, with 2022 revenue of $11-billion and total assets of $66-billion as at Sept. 30, 2023. The corporation's 9,200 employees serve utility customers in five Canadian provinces, 10 U.S. states and three Caribbean countries.

Fortis's shares are listed on the Toronto Stock Exchange and trade under the symbol FTS.

We seek Safe Harbor.