Fortis Inc. · TSX:FTS
Fortis — Investor Presentation (November 2025)
14 slides from Fortis's investor presentation, November 2025
Slide 1: Retail Investor Presentation
RETAIL INVESTOR PRESENTATION NOVEMBER 2025
Slide 2: Forward Looking Information
FORWARD LOOKING INFORMATION Fortis includes forward-looking information in this presentation within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (collectively referred to as "forward-looki
Slide 3: Fortis at a Glance
FORTIS AT A GLANCE TSX/NYSE: FTS OUR VISION & STRATEGY: A Premium North American Utility Delivering a Cleaner Energy Future 94% 100% transmission and distribution assets Regulated utility assets 9 regulated utilities $5.6 billion in Canada, U.S., and Caribbean 2026F capital expenditures 9,600 $44.7
Slide 4: Our Common Ground
OUR COMMON GROUND Provision of Safe Sustainable Growth Good Governance & Reliable Service Fortis Ranked #1 of 215 S&P/TSX companies Priority #1 Focused on Execution in The Globe & Mail 2024 Board Games • Health and safety of our employees, customers • Operational Excellence • Utilities operate withi
Slide 5: Five-Year Plan at a Glance
FIVE-YEAR PLAN AT A GLANCE Capital Rate Base Dividend Expenditures Growth Growth $28.8B 7% 4-6% 2026-2030 5-Year Annual Dividend Growth Capital Plan CAGR Guidance Extended to 2030 $2.8B 50 bps 4% Over Prior Over Prior Increase in Q4 2025 Capital Plan Plan Dividend Continued Focus on Customer Afforda
Slide 6: 2026-2030 Capital Plan Driven by Transmission Investments
2026-2030 CAPITAL PLAN DRIVEN BY TRANSMISSION INVESTMENTS $1.0B ($0.9B) +$0.6B $28.8B Incremental Capital Drivers +$2.0B +$0.1B Transmission Generation(1) Other Foreign (2) ITC New interconnections, MISO LRTP and baseline reliability projects & Distribution Regulated Exchange $26.0B Utilities UNS Hi
Slide 7: Supports Average Annual Rate Base Growth of 7%
HIGHLY EXECUTABLE, LOW-RISK CAPITAL PLAN SUPPORTS AVERAGE ANNUAL RATE BASE GROWTH OF 7% Capital Plan Consolidated By Asset Type Rate Base Capital Plan ↑ $16B or 7% CAGR • 100% Regulated Capital $57.9B Distribution • 21% Major Capital Projects Transmission 46% 5-Year 31% $41.9B • 63% U.S., 35% Canada
Slide 8: Above and Beyond the Plan
ABOVE AND BEYOND THE PLAN 2026-2030 2031-2035 Opportunities Opportunities to Expand Growth to Extend Growth ITC ITC • Customer Connections • LRTP Tranche 2.1 • LRTP Tranche 2.1 Competitively Bid Projects UNS • Customer Connections • TEP Retail Load Growth • Future MISO LRTP Projects FortisBC UNS • T
Slide 9: Liquidity & Credit Ratings
LIQUIDITY & CREDIT RATINGS In Q3, issued $750M Hybrids at Fortis Inc. at 5.1% and completed asset disposition of FortisTCI • Proceeds used to repay Corporate credit facilities including term loan Credit Facilities Credit Ratings & Outlooks $6.3B $5.8B(1) $2.4B $1.9B A-(2) A (low) Stable Stable $3.9B
Slide 10: A Balanced Approach to Funding Growth
A BALANCED APPROACH TO FUNDING GROWTH CAPITAL STRUCTURE EXPECTED TO REMAIN CONSISTENT OVER PLANNING PERIOD Improving Cash Flow to Debt Metrics(3) Cash from Operations(1) 59% 12.4% 5-YR Avg. 12.0% Threshold 11.8% 5-Year Capital Plan Equity Funding Plan $28.8B Equity 11% • • Reflects Corporation’s DRI
Slide 11: Three-Year Look Back
THREE-YEAR LOOK BACK Adjusted EPS & Rate Base Adjusted Dividend Payout Ratio 41.5 $39.0B 3.5 $3.28 $37.0B 3.3 115.0% 36.5 $34.1B $3.09 $31.1B 3.1 105.0% 31.5 2.9 $2.78 26.5 2.7 $2.59 95.0% 21.5 2.5 85.0% 2.3 79.2% 16.5 78.1% 73.9% 2.1 75.0% 11.5 72.7% 1.9 65.0% 6.5 1.7 1.5 1.5 55.0% 2021 2022 2023 2
Slide 12: Total Shareholder Returns
TOTAL SHAREHOLDER RETURNS Cumulative 20-Year Total Shareholder Return Average Annual 571% Total Shareholder Returns 424% 1-Year 21.6% 348% 5-Year 10.2% 10-Year 10.5% 20-Year 10.0% 2005 2010 2015 2020 2025 Fortis S&P/TSX Composite Index S&P/TSX Capped Utilities Index Note: Cumulative and average
Slide 13: Dividend Guidance Supported by Long-Term Growth Strategy
DIVIDEND GUIDANCE SUPPORTED BY LONG-TERM GROWTH STRATEGY ~4% Dividend Increase in Q4 2025 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 F 13
Slide 14: Why Invest in Fortis?
WHY INVEST IN FORTIS? Focused on Executing and Providing Safe, Reliable & Affordable Service Sustainable Low-Risk Growth • Strong Rate Base Growth • Strong Governance • Robust Transmission Pipeline • Regulatory & Geographic Diversity • Transparent Funding Plan • Constructive Regulatory Relationships