Fortis Inc. · TSX:FTS
Fortis — Shareholder Meeting (May 2026)
44 slides from Fortis's shareholder meeting presentation, May 7, 2026
Slide 1: Annual Meeting of Shareholders
Annual Meeting of Shareholders MAY 7, 2026
Slide 2: Voting Instructions
Voting Instructions FORTIS
Slide 3: Question Instructions
Question Instructions 3
Slide 4: Jo Mark Zurel, Chair of the Board
Jo Mark Zurel CHAIR OF THE BOARD 4
Slide 5: 2026 Annual Meeting of Shareholders
2026 Annual Meeting of Shareholders 5
Slide 6: Meeting Participants
Meeting Participants David Hutchens Jocelyn Perry Jim Reid President and Executive Vice President, Executive Vice President, Chief Executive Officer Chief Financial Officer Sustainability and Chief Legal Officer 6
Slide 7: Meeting Agenda
Meeting Agenda MAY 7, 2026 Appointment of Scrutineers and Secretary Financial Statements Election of Directors Appointment of Auditors Approach to Executive Compensation Voting Results Management Presentation Question Period 7
Slide 8: Appointment of Scrutineers and Secretary
AGENDA Appointment of Scrutineers and Secretary Financial Statements Election of Directors Appointment of Auditors Appointment of Scrutineers and Secretary Approach to Executive Compensation Voting Results Management Presentation Question Period Fortis Inc. 8
Slide 9: 2025 Financial Statements
AGENDA Appointment of Scrutineers and Secretary Financial Statements Election of Directors Appointment of Auditors 2025 Financial Approach to Executive Compensation Statements Voting Results Management Presentation Question Period Fortis Inc. 9
Slide 10: Voting Procedure
Voting Procedure 10
Slide 11: Election of Directors
AGENDA Appointment of Scrutineers Election of Directors and Secretary Financial Statements Election of Directors Appointment of Auditors Jo Mark Zurel David G. Hutchens Pierre J. Blouin Lawrence T. Borgard Maura J. Clark Margarita K. Dilley (Chair of the Board) Approach to Executive Compensation Vot
Slide 12: Appointment of Auditors
AGENDA Appointment of Scrutineers and Secretary Financial Statements Election of Directors Appointment of Auditors Appointment of Approach to Executive Compensation Auditors Voting Results Management Presentation Question Period Fortis Inc. 12
Slide 13: Advisory Vote on Approach to Executive Compensation
AGENDA Appointment of Scrutineers and Secretary Financial Statements Election of Directors Advisory Vote on Appointment of Auditors Approach to Approach to Executive Compensation Executive Voting Results Compensation Management Presentation Question Period Fortis Inc. 13
Slide 14: Voting Results
AGENDA Appointment of Scrutineers and Secretary Financial Statements Election of Directors Appointment of Auditors Approach to Executive Compensation Voting Results Voting Results Management Presentation Question Period Fortis Inc. 14
Slide 15: Annual Meeting of Shareholders
Annual Meeting of Shareholders MAY 7, 2026 15
Slide 16: Asking Questions
Asking Questions FORTIS
Slide 17: Forward-Looking Information
Forward-Looking Information Fortis Inc. ("Fortis" or the "Corporation") includes forward-looking information in this presentation within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995,
Slide 18: David Hutchens, President and CEO
David Hutchens PRESIDENT AND CEO 18
Slide 19: Fortis Executive Team
Fortis Executive Team Jocelyn Perry Jim Reid Stuart Lochray Executive Vice President, Executive Vice President, Executive Vice President, Chief Financial Officer Sustainability and Chief Legal Officer Strategy and Business Development 19
Slide 20: Gary Smith
Gary Smith 42 YEARS OF SERVICE 20
Slide 21: Local Leadership
Local Leadership 21
Slide 22: Creating Long-Term Value
Creating Long-Term Value 22
Slide 23: Energy That Goes Further
Energy That Goes Further 23
Slide 24: Keeping Energy Affordable
Keeping Energy Affordable 24
Slide 25: Safety First, Always
Safety First, Always 25
Slide 26: Delivering. Strengthening. Connecting.
Delivering. Strengthening. Connecting. 26
Slide 27: Powering Growth
Powering Growth 27
Slide 28: Climate Planning and Preparedness
Climate Planning and Preparedness 28
Slide 29: Innovating for Customers and Communities
Innovating for Customers and Communities 29
Slide 30: Cleaner Energy, Lower Emissions
Cleaner Energy, Lower Emissions 30
Slide 31: Jocelyn Perry, EVP, Chief Financial Officer
Jocelyn Perry EXECUTIVE VICE PRESIDENT CHIEF FINANCIAL OFFICER 31
Slide 32: 2025 Reported and Adjusted EPS
2025 Reported and Adjusted EPS REPORTED EPS ADJUSTED EPS 5% Growth $3.53 in Adjusted EPS in 2025 $3.40 $3.24 $3.28 (Excluding Foreign Exchange) 2024 2025 2024 2025 Note: Adjusted EPS is a non-U.S. GAAP financial measure. Refer to the appendix for the Non-U.S. GAAP reconciliation. 32
Slide 33: Five-Year Consolidated Rate Base
Five-Year CONSOLIDATED RATE BASE $28.8 BILLION CAPITAL PLAN $57.9B $2.8 B $42.4B Over Prior Plan 2025A 2030F Note: U.S. dollar-denominated rate base converted at a foreign exchange rate of 1.40 for 2025 and 1.35 for 2026-2030. CAGR is calculated on a constant foreign exchange rate basis. 33
Slide 34: Liquidity and Funding
Liquidity and Funding Raised Cash From Operations(1) 59% $2.7B in Long-Term Net Debt $28.8B 30% Debt in Capital Plan 2025 2026-2030 Equity 11% (1) Non-U.S. GAAP financial measure. Reflects cash from operating activities net of dividends and including customer contributions. Fortis Inc. 34
Slide 35: Ready to do More
Ready to do More 35
Slide 36: 52 Years of Consecutive Increases in Dividends Paid
52 Years of Consecutive Increases in Dividends Paid 4-6% ANNUAL DIVIDEND GROWTH GUIDANCE THROUGH 2030 73 75 77 79 81 83 85 87 89 91 93 95 97 99 01 03 05 07 09 11 13 15 17 19 21 23 25 36
Slide 37: Superior 20-Year Total Shareholder Returns
Superior 20-Year Total Shareholder Returns 517% Average Annual Total Shareholder Returns 406% 309% 1-Year 23.9% 5-Year 10.7% 10-Year 10.8% 2005 2010 2015 2020 2025 20-Year 9.5% Fortis S&P/TSX Composite Index S&P/TSX Capped Utilities Index Note: Cumulative 20-year total shareholder return as a
Slide 38: People & Partnerships
People & Partnerships 38
Slide 39: Delivering for the Long Term
Delivering for the Long Term 39
Slide 40: Question Period
Question Period FORTIS
Slide 41: Thank You for Joining
Annual Meeting of Shareholders THANK YOU FOR JOINING 41
Slide 42: Appendix
SSE OO Seceleret 5 ee i! eer ee Appendix FORTIS 42
Slide 43: Annual Non-U.S. GAAP Reconciliation
Annual Non-U.S. GAAP Reconciliation ($ millions, except as shown) Adjusted Net Earnings 2025 2024 Net Earnings (1) 1,714 1,606 Adjusting items: Dispositions (2) 63 - October 2024 MISO base ROE decision (3) - 20 Adjusted Net Earnings 1,777 1,626 Adjusted Earnings per Share ($) 3.53 3.28 Capital Expen
Slide 44: Quarterly Non-U.S. GAAP Reconciliation
Quarterly Non-U.S. GAAP Reconciliation ($ millions) Q1 2026 Q1 2025 Capital Expenditures Additions to property, plant and equipment 1,503 1,483 Additions to intangible assets 45 60 Adjusting item: Eagle Mountain Pipeline Project (1) (186) (123) Capital Expenditures 1,362 1,420 (1) Represents contrib