Fortis : January 2022 Investor Marketing

INVESTOR PRESENTATION

January 2022

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 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 2025; carbon emissions reduction targets and projected asset mix; forecast capital expenditures for 2021 and 2022-2026, including cleaner energy investments; forecast rate base and rate base growth through 2026; the nature, timing, benefits and costs of certain capital projects and additional opportunities beyond the capital plan; expected funding sources for the capital plan and expected capital structure; the expected timing, outcome and impacts of regulatory proceedings; expected impacts of changes in commodity prices and supply chains; the expected debt issuance by ITC in May 2022; and scheduled debt maturities.

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: no material adverse effects from the COVID-19 pandemic; reasonable regulatory decisions and the expectation of regulatory stability; the successful execution of the capital plan; no material capital project or financing cost overrun; no material changes in the assumed U.S. dollar to Canadian dollar exchange rate; sufficient human resources to deliver service and execute the capital plan; no significant variability in interest rates; 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 midyear rate base.

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A PREMIUM ENERGY DELIVERY BUSINESS

93% Transmission & Distribution Assets

HIGH QUALITY PORTFOLIO

10 Regulated Utility Businesses

3.4M Electric & Gas Customers

~9,000 Employees

99% Regulated Utility Assets

~$29B Market Capitalization(1)

~13% Average Annual 20-Year Total Shareholder Return(1)

$31.2B 2021F Rate Base

(1) As of December 31, 2021.

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LONG-TERM STRATEGY

LEVERAGING OUR OPERATING MODEL, GEOGRAPHIC AND REGULATORY DIVERSITY, OPERATING EXPERTISE, REPUTATION AND FINANCIAL STRENGTH TO DELIVER A CLEANER ENERGY FUTURE

Proven Dividend Track			Focus on Growth			Strong ESG Profile
Record & Outlook
6% Average Annual Dividend
		Execute on Growth			Strengthening our
Growth Guidance through			Opportunities			Low-Carbon Footprint
2025

LNG

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

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DELIVERING SAFE AND RELIABLE SERVICE

ALL INJURY FREQUENCY RATE(1)	AVERAGE ELECTRICITY CUSTOMER
	OUTAGE DURATION(2)

					3.6	3.9	3.5	3.8
				1.72
				1.64
1.67	1.38	1.45	1.45	1.09	2.1	2.2	2.1	1.8	1.9	2.1
2 0 1 6	2 0 1 7	2 0 1 8	2 0 1 9	2 0 2 0	2 0 1 6	2 0 1 7	2 0 1 8	2 0 1 9	2 0 2 0

Fortis	USA Bureau of	Canadian Electricity		Fortis		Canadian Electricity Association and U.S. Energy
	Labor Statistics	Association
				Information Administration Average
	(2016-2020 Average)	(2016-2020 Average)

(1) Injuries per 200,000 hours worked.

(2) Based on weighted average of Fortis' customer count in each jurisdiction.

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