Forward-Looking Information

Year in Review 2024

Fortis includes forward-looking information in this 2024 Year in Review 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-looking information"). Forward-looking information reflects expectations of Fortis management regarding future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as anticipates, believes, budgets, could, estimates, expects, forecasts, intends, may, might, plans, projects, schedule, should, target, will, would, and the negative of these terms, and other similar terminology or expressions have been used to identify the forward-looking information, which includes, without limitation: forecast capital expenditures for 2025-2029; forecast rate base growth rate through 2029; the expectation that Fortis is well-positioned to secure additional investments beyond the capital plan to support load growth and facilitate the interconnection of clean energy; forecast energy demand in the U.S.; the nature, timing and benefits of certain capital projects and opportunities beyond the capital plan, including ITC’s investments related to Tranches 1 and 2.1 of the MISO LRTP, ITC's transmission upgrades to serve new data center load at the Big Cedar Industrial Center in Iowa; expected investments associated with new data center load growth, the Roadrunner Reserve Projects I and II, and the Wilmot Energy Center II; the 2050 net-zero direct GHG emissions target and interim 2030 and 2035 GHG emissions reduction targets; the potential impact of government energy policies, significant load growth and new clean energy technology on the Corporation's ability to achieve its GHG emissions targets; and FortisBC's planned investments in energy-efficiency initiatives and the associated expected results thereof.

Forward-looking information involves significant risks, uncertainties and assumptions. Certain material factors or assumptions have been applied in drawing the conclusions contained in the forward-looking information including, without limitation: the successful execution of the capital plan; no material capital project or financing cost overrun; sufficient human resources to deliver service and execute the capital plan; the realization of additional opportunities beyond the capital plan; the Board exercising its discretion to declare dividends, taking into account the financial performance and condition of the Corporation; and no significant changes in government energy plans, environmental laws and regulations that could have a material negative impact.

Fortis cautions readers that a number of factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking information. For additional information with respect to certain risk factors, reference should be made to the continuous disclosure materials filed from time to time by the Corporation with Canadian securities regulatory authorities and the Securities and Exchange Commission. All forward-looking information herein is given as of March 2025. Fortis disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.