Fortis : 2019 Wolfe Research Utilities & Energy Leaders Conference

WORKING TOGETHER

POWERING GROWTH

Wolfe Research Utilities

& Energy Conference

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 capital investments and expected funding sources for 2019 and the five-year period from 2020 through 2024; forecast rate base through 2024; the expected timing and outcome of regulatory decisions; the nature, timing, benefits and costs of certain capital projects.

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 impact of fluctuations in foreign exchange; and the Board exercising its discretion to declare dividends. 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.

This presentation includes historical non-US GAAP measures of adjusted earnings, adjusted earnings per common share, dividend payout ratio, CFO/Debt and holdco debt/total debt. These measures do not have a standardized meaning prescribed by US GAAP and may not be comparable with similar measures of other entities. They are presented because management and external stakeholders use them in evaluating the Corporation's financial performance and prospects. The most directly comparable US GAAP measures are reconciled in the appendix of this presentation.

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

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TIMELINE

1 8 8 5 - 2 0 1 2		2 0 1 3 - 2 0 1 6		2 0 1 7 - C u r r e n t

Focused on Canada

U.S. Acquisition Strategy

Focused on Growth in North America

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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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