Fortis Statement on Waneta Dam Agreement

08/01/2017 22:15 EST

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  • ST. JOHN'S, NEWFOUNDLAND AND LABRADOR - Fortis Inc. ("Fortis"), (TSX:FTS)(NYSE:FTS) has been given notice from Teck Resources Limited ("Teck") that BC Hydro has exercised its right of first offer to acquire Teck's two-thirds interest in the Waneta Dam. As a result, the purchase agreement between Fortis and Teck has been terminated and Teck is obligated to pay Fortis a break fee of approximately $28,000,000.

    About Fortis

    Fortis is a leader in the North American regulated electric and gas utility industry with total assets of approximately $48 billion. The Corporation's 8,000 employees serve utility customers in five Canadian provinces, nine U.S. states and three Caribbean countries.

    Fortis shares are listed on the Toronto Stock Exchange and New York Stock Exchange and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedar.com, or www.sec.gov.



    Investor Enquiries
    Ms. Janet Craig
    Vice President, Investor Relations
    Fortis Inc.
    709.737.2900
    investorrelations@fortisinc.com

    Media Enquiries
    Ms. Karen McCarthy
    Director, Communications & Corporate Affairs
    Fortis Inc.
    709.737.5323
    media@fortisinc.com


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