Fortis : TD ESG Forum

SUSTAINABILITY….

HOW WE DO EVERYTHING.

TD ESG FORUM

October 2019

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-looking information"). Forward-looking information included herein 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: targeted average annual dividend growth through 2024;forecast rate base for 2019; and FortisBC's 2030 GHG emission goal.

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. These factors or assumptions are subject to inherent risks and uncertainties surrounding future expectations generally, including those identified from time to time in the forward-looking information. Such risk factors or assumptions include, but are not limited to: reasonable regulatory decisions by utility regulators and the expectation of regulatory stability; the implementation of the Corporation's five-year capital expenditure plan; no material capital project and financing cost overruns related to any of the Corporation's capital projects; sufficient human resources to deliver service and execute the capital expenditure plan; the realization of additional opportunities; the impact of fluctuations in foreign exchange; and the Board exercising its discretion to declare dividends, taking into account the business performance and financial condition of the Corporation. 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. These factors should be considered carefully and undue reliance should not be placed on the forward-looking information. For additional information with respect to certain of these risks or 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 the date of this presentation. 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.

Unless otherwise specified, all financial information is in Canadian dollars and rate base refers to mid-year rate base.

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FOCUSED STRATEGY

6%

Average Annual Dividend

Growth Target through 2024

STRATEGY
Leverage the operating model,
footprint of our businesses,
operating expertise, reputation	Focused on
and financial strength to execute
on growth opportunities	Growth
AREAS OF FOCUS:

Capital		Customer &		Sustainability &		System Resiliency,		Energy		Investment Grade
Investment Plan		Regulatory		Delivery of		Innovation &		Infrastructure,		Credit Ratings
		Relationships		Cleaner Energy		Cybersecurity		LNG Expansion &
								Energy Storage

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1. Geographically Diverse Energy Delivery Business

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HIGH QUALITY PORTFOLIO

10 OPERATIONS

Canada, U.S. & Caribbean

3.3M CUSTOMERS

2.0M Electric & 1.3M Gas

~99%	REGULATED	~93%	TRANSMISSION &
UTILITY ASSETS	DISTRIBUTION
	$28B	2019F RATE BASE	~66%	EARNINGS
					FROM THE U.S.

Note: All information as at June 30, 2019

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