Fortis Inc. Announces Pricing of Fixed-to-Fixed Rate Junior Subordinated Notes

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The Base Shelf Prospectus is accessible, and the Prospectus Supplement and any Amendment to the Documents will be accessible through SEDAR+ within two business days.

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This news release constitutes a “Designated News Release” incorporated by reference in the prospectus supplement dated December 9, 2024 to Fortis’ short form base shelf prospectus dated December 9, 2024.

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ST. JOHN’S, Newfoundland and Labrador, Sept. 09, 2026 (GLOBE NEWSWIRE) — Fortis Inc. (“Fortis” or the “Corporation”) (TSX/NYSE: FTS) announced today that it has priced a public offering (the “Offering”) of US$500 million aggregate principal amount of 6.625% fixed-to-fixed rate junior subordinated notes due March 30, 2057 and US$500 million aggregate principal amount of 6.875% fixed-to-fixed rate junior subordinated notes due March 30, 2057 (collectively, the “Notes”).

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The Notes will be issued pursuant to a prospectus supplement (the “Prospectus Supplement”) to a short form base shelf prospectus dated December 9, 2024 (the “Base Shelf Prospectus”), filed with the securities regulatory authorities in each of the provinces of Canada and with the U.S. Securities and Exchange Commission as part of an effective registration statement on Form F-10.

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The Offering is being made on a firm commitment basis through a syndicate of underwriters co-led by Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., Wells Fargo Securities, LLC and BofA Securities, Inc. (collectively, the “Joint Bookrunners”), and BMO Capital Markets Corp., CIBC World Markets Corp., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., TD Securities (USA) LLC, National Bank of Canada Financial Inc., Academy Securities, Inc. and Desjardins Securities Inc. (together with the Joint Bookrunners, the “Underwriters”), pursuant to an underwriting agreement entered into earlier today by the Corporation and the Underwriters. The Offering in Canada is being made through the affiliates of the Underwriters that are permitted under applicable securities laws to offer and sell the Notes in each of the provinces of Canada. The Offering is expected to close on September 21, 2026 subject to the satisfaction of customary closing conditions.

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Fortis expects to use the net proceeds of the Offering to repay maturing indebtedness and for general corporate purposes.

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Access to the Prospectus Supplement, the Base Shelf Prospectus and any amendment to the documents is provided in accordance with Canadian securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The Base Shelf Prospectus, as supplemented by the Prospectus Supplement, will be accessible within two business days on www.sedarplus.ca. An electronic or paper copy of the Prospectus Supplement, the Base Shelf Prospectus and any amendment to the documents may be obtained, without charge, from Morgan Stanley & Co. LLC toll-free at 866.718.1649, MUFG Securities Americas Inc. toll-free at 877.649.6848, Wells Fargo Securities, LLC toll-free at 800.645.3751 or BofA Securities, Inc. toll-free at 800.294.1322, or from Morgan Stanley Canada Limited at 416.943.8400, MUFG Securities (Canada), Ltd. at 877.649.6848, Wells Fargo Securities Canada, Ltd. at 416.775.2038 or Merrill Lynch Canada Inc. at 800.294.1322 by providing the contact with an email address or address, as applicable.