Slide 1: Q2 2026 Earnings
August 7, 2026 Q2 2026 Earnings
Slide 2: Forward-Looking Information, Non-GAAP Measures & Other
Forward-Looking Information, Non-GAAP Measures & Other F O R W A R D - L OOK I NG I N F O R M A T I ON that could cause results or events to differ from current expectations as required by law, Emera undertakes no obligation and disclaims any This presentation contains “forward-looking information”
Slide 3: Today's Speaker
Today’s Speaker Scott Balfour President, CEO Emera Inc. Emera Q2 2026 Earnings Presentation 3
Slide 4: Sale of New Mexico Gas Approved
Sale of New Mexico Gas Approved New Mexico Public Regulation Commission approved the sale of New Mexico Gas Company on July 30, 2026 Net after-tax proceeds of $650M-$700M USD will be used to support capital plan and repay company debt Transaction is expected to close in August 2026 Strengthens balan
Slide 5: Strong Momentum in H1 2026
Strong Momentum in H1 2026 Stable Credit Outlook Confident in 5-7% Avg. Adjusted at all Rating Agencies EPS1 Growth through 20302 5% $4.41 6% 7-8% Rate Base Growth 7% $4.17 through 20302 $3.94 $3.49 $2.94 2024A 2025A 2030F 1. Adjusted EPS is a non-GAAP ratio 2. Uses 2024 as the base year Emera Q2 20
Slide 6: Strong Execution Supports Long Term Growth
Strong Execution Supports Long Term Growth More than $1.7B Capital Deployed H1 2026 $20B capital plan through 2030 $4.0B Consolidated Rate Base1 $40.1B $26.2B $1.7B Florida 2 Canada3 Caribbean 2026 YTD 2026F 2024A 2030F 7.4% CAGR 1. USD rate base translated at $1.35 2. Florida utilities include Tamp
Slide 7: Positive Progress on Portfolio Optimization
Positive Progress on Portfolio Optimization COMPLETED New Mexico Gas Sale Grand Bahama Power Company Sale • On July 30, 2026, the New Mexico • On May 12, 2026, Emera completed Public Regulation Commission the sale of its 100% interest in Grand approved the sale of New Mexico Gas Bahama Power Company
Slide 8: Today's Speaker
Today’s Speaker Jared Green CFO Emera Inc. Emera Q2 2026 Earnings Presentation 8
Slide 9: Quarterly Financial Results
Quarterly Financial Results Q2 2026 ADJUSTED EPS1 YTD 2026 ADJUSTED EPS1 8% Increase in operating cash flow2 $0.79 $2.07 $0.69 $2.06 $1,411 $1,306 Q2 2025 Q2 2026 YTD 2025 YTD 2026 Q2 2026 REPORTED EPS YTD 2026 REPORTED EPS $0.45 $2.41 $2.19 $0.34 3 4 Q2 YTD 2025 Q2 YTD 2026 Q2 2025 Q2 2026 YTD 2025
Slide 10: YTD 2026 Adjusted EPS Waterfall
YTD 2026 Adjusted EPS1 Waterfall YTD 2026 ADJUSTED EPS1 $0.08 $0.05 $0.10 $0.05 $0.11 $0.14 $0.12 $2.31 2.34 $2.29 $2.21 $2.18 $2.07 2.07 2.06 $2.06 1 1 YTD 2025 Adjusted Emera Energy Gas Utilities & Infa Florida Electric Utilities WA Share Dilution Foreign Exchange Corporate 2,3 Canadian Electric Y
Slide 11: Q2 2026 Adjusted EPS Waterfall
Q2 2026 Adjusted EPS1 Waterfall Q2 2026 ADJUSTED EPS1 $0.01 $0.01 $0.02 $0.02 $0.03 $0.09 $0.79 $0.79 $0.81 $0.82 $0.81 $0.78 $0.69 $0.69 1 1 Q2 2025 Adjusted Gas Utilities & Infra. Emera Energy, Florida Foreign WA Share Dilution Other Electric Corporate 3,4 Q2 2026 Adjusted 2 Earnings Per Share Ele
Slide 12: Upcoming Investor Events
Upcoming Investor Events Barclays Energy-Power Conference – NYC • September 8 - 10, 2026 NYSE Investor Access Day – Virtual • September 24, 2026 Bloomberg Canadian Finance Conference – NYC • September 29, 2026 Wolfe Utilities Midstream & Clean Energy Conference – NYC • September 30 - October 1, 2026
Slide 13: Appendix
Appendix Emera Q1 2026 Earnings Presentation 13
Slide 14: Average Rate Base Forecast
Average Rate Base Forecast 2025A 2024–2030 In millions 2024A7 2025A Adjusted FX7 2026F 2027F 2028F 2029F 2030F CAGR US OPERATIONS Tampa Electric 1.2 $11,120 $12,110 $12,110 $13,150 $14,170 $15,260 $16,520 $17,850 8.2% Peoples Gas1 $2,380 $2,550 $2,550 $2,990 $3,240 $3,540 $3,820 $4,090 9.4% Seacoast
Slide 15: Capital Forecast
Capital Forecast In millions 2026F 2027F 2028F 2029F 2030F 2026–2030 Total US OPERATIONS Tampa Electric $1,800 $1,695 $1,980 $2,030 $2,120 $9,625 Peoples Gas $445 $415 $420 $440 $450 $2,170 Seacoast $50 $40 $20 $40 $50 $200 Subtotal: Florida Utilities (USD) $2,295 $2,150 $2,420 $2,510 $2,620 $11,995
Slide 16: Capital Project Details
Capital Project Details In millions of CAD RELIABILITY & GRID MODERNIZATION PROJECTS 2026 -2030 T&D Investments at Tampa Electric $4,670 Generation Investments at Tampa Electric 3,570 T&D Investments at Nova Scotia Power 1,540 Infrastructure Reliability at PGS 1,490 Distribution Expansion at PGS 1,2
Slide 17: Foreign Exchange and Interest Rate Exposure
Foreign Exchange and Interest Rate Exposure Foreign Exchange Exposure In 2026 on a hedge adjusted basis each change $0.01 change in FX is approximate $0.02 to adjusted EPS1 As of June 30, 2026 Approximate % of USD Earnings Hedged Rate 2026 70% $1.38 2027 50% $1.37 2028 0% - Debt Detail As of June 30
Slide 18: Emera Energy Quarterly Adjusted Earnings Contribution
Emera Energy Quarterly Adjusted Earnings Contribution Millions $CAD Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Marketing & Trading $ (24) (7) 16 69 (14) (8) 33 105 (24) Maritimes Canada (1) – (3) 1 - - - - - Bear Swamp/Brooklyn Power 2 2 1 (2) (3) (1) (1) 2 9 Total Adjusted Net Income1 $
Slide 19: Non-GAAP Reconciliation (Earnings)
Non-GAAP Reconciliation (Earnings) Three months ended Six months ended For the June 30 June 30 millions of Canadian dollars (except per share amounts) 2026 2025 2026 2025 Florida Electric $ 261 $ 260 $ 441 $ 424 Canadian Electric 16 17 102 138 Gas Utilities & Infrastructure 55 48 191 168 Other Elect
Slide 20: emera.com
a6 Emera emera.com