Fortis : Q3 2021 Investor Marketing

INVESTOR PRESENTATION

Q3 2021

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; the 2035 carbon emissions reduction target and projected asset mix; TEP's carbon emissions reduction target and integrated resource plan goals; forecast capital expenditures; forecast rate base and rate base growth for 2021-2025; additional opportunities beyond the capital plan, including the Lake Erie Connector Project; the expected timing, outcome and impacts of regulatory decisions; the nature, timing, benefits and costs of certain capital projects including, without limitation, ITC Multi-Value

Regional Transmission Projects and 34.5 to 69 kV Transmission Conversion Project, UNS Energy Vail-to-Tortolita Transmission Project and Oso Grande Wind Project, FortisBC Eagle Mountain Woodfibre Gas Line Project, Transmission Integrity Management Capabilities Project, Inland Gas Upgrades Project, Tilbury 1B and Tilbury Resiliency Tank and Advanced Metering Infrastructure Project, and the Wataynikaneyap Transmission Power Project; and forecast debt maturities for 2021-2025.

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 five-year capital plan; no material capital project or financing cost overrun; 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

➢ ~$27B Market Capitalization(1)

➢ ~14% Average Annual 20-Year Total

Shareholder Return(1)

➢ $32.2B 2021F Rate Base

(1) As of July 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	Execute on growth	Strengthening our
Dividend Growth
Guidance through 2025	opportunities	Low-Carbon Footprint

LNG

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

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DELIVERING SAFE AND RELIABLE SERVICE

All Injury Frequency Rate(1)	Average Electricity Customer
	Outage Duration(2)

					1.78	3.6	3.9	3.5	3.8
1.67					1.50
1.38		1.45	1.45	1.09	2.1	2.2	2.1	1.8	1.9
2 0 1 6	2 0 1 7	2	0 1 8	2 0 1 9	2 0 2 0	2016	2017	2018	2019	2020
Fortis	USA Bureau of		Canadian Electricity	Fortis	Canadian Electricity Association and U.S. Energy
	Labor Statistics	Association		Information Administration Average
	(2016-2019 Average)	(2016-2019 Average)

1. Injuries per 200,000 hours worked.
2. Based on weighted average of Fortis' customer count in each jurisdiction.

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