Fortis : June 2022 Investor Marketing

INVESTOR PRESENTATION

June 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: GHG emissions reduction targets and projected asset mix; forecast capital expenditures for 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, including the MISO long-range transmission plan and the Lake Erie Connector Project; targeted average annual dividend growth through 2025; the expected timing, outcome and impacts of regulatory proceedings; expected funding sources for the capital plan and expected capital structure; potential impacts of changes in commodity prices and supply chains; 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 impact from volatility in energy prices, the global supply chain or rising inflation; 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

9,100 Employees

99% Regulated Utility Assets

~$28B Market Capitalization(1)

~12% Average Annual 20-Year Total Shareholder Return(1)

$31.1B 2021 Rate Base

(1) As of June 17, 2022.

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OUR VISION & STRATEGY

A PREMIUM NORTH AMERICAN UTILITY DELIVERING A CLEAN ENERGY FUTURE

Operational Excellence

Financial Strength

Diversified Regulated Portfolio

Substantially Autonomous Business Model

Strong Governance

DRIVING SUSTAINABLE GROWTH

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FOCUSED ON RELIABILITY & AFFORDABILITY

AVERAGE ELECTRICITY CUSTOMER	MANAGING CONTROLLABLE
OUTAGE DURATION (HOURS)(1)	OPERATING COSTS BELOW INFLATION

3.9	3.5	3.8
		3.3
2.2	2.1			2.3
1.8	1.9
2 0 1 7	2 0 1 8	2 0 1 9	2 0 2 0	2 0 2 1	2016	2017	2018	2019	2020	2021

Fortis		Electricity Canada and U.S. Energy				Fortis compound average growth rate
		Information Administration Average(2)				Fortis controllable operating costs per customer(3)

1. Based on weighted average of Fortis' customer count in each jurisdiction.
2. 2021 industry comparators will be available later in 2022.
3. Controllable operating cost per customer is a financial measure used by management to evaluate operating efficiency and may not be comparable with similar measures used by other entities. It excludes costs that are considered outside of management's control, such as purchased power and generation fuel expense.

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