Company Announcements

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HALIFAX, Nova Scotia--(BUSINESS WIRE)--Apr. 17, 2026-- Nova Scotia Power Incorporated (“Nova Scotia Power” or the “Company”) today announced that it has completed an offering of $300 million aggregate principal amount of Notes due April 17, 2031 (Unsecured), Series 2026-1 (the “Notes”). The Notes were offered on a private placement basis (the “Offering”) in each of the provinces of Canada pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws. The Notes bear interest at the rate of 3.947% per annum until April 17, 2031.

The net proceeds from the Offering will be added to the general funds of the Company and applied primarily to refinance existing indebtedness, including bank indebtedness, to finance capital expenditures and for other general corporate purposes.

The Offering was made through a syndicate of agents led by TD Securities Inc., and included BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and National Bank Capital Markets.

This news release does not constitute an offer to sell or the solicitation of any offer to buy, nor will there be any sale of these securities, in the United States or in any province, state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of the United States or any such province, state or other jurisdiction. These securities may not be offered or sold in the United States absent registration or an exemption from registration. The securities being offered have not been approved or disapproved by any regulatory authority.

Forward Looking Information

This news release contains forward-looking information or forward-looking statements within the meaning of applicable securities laws (collectively, “forward-looking information”) with respect to the Company, including without limitation, statements about the Notes, the Offering, and the use of proceeds with respect thereof. By its nature, forward-looking information requires the Company to make assumptions and is subject to inherent risks and uncertainties. These statements reflect management’s current beliefs and are based on information currently available to management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that the Company’s assumptions may not be correct and that actual results may differ materially from those expressed or implied by such forward-looking information. The forward-looking information in this news release is made only as of the date hereof, and the Company disclaims any intention or obligation to update or revise any forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in the Company’s securities regulatory filings, including its Annual Information Form, annual and interim Management’s Discussion and Analysis, and in the notes to its annual and interim financial statements, which filings can be found under the Company’s profile on SEDAR+ at www.sedarplus.ca.

About Nova Scotia Power

Nova Scotia Power has had a presence in communities across Nova Scotia for over a century. As the primary electricity provider in the province, the company is regulated by the Nova Scotia Energy Board and provides generation, transmission, and distribution of electrical power to approximately 550,000 customers. This includes residential, commercial, and industrial customers. With more than 2,200 dedicated employees, the team at Nova Scotia Power works every day to provide safe, reliable service to customers in every corner of the province. Their focus is on engaging with communities about the important work being done to meet the evolving energy needs of Nova Scotians while supporting the exciting growth and development in the region. Nova Scotia Power is a wholly owned subsidiary of Emera Inc. (TSX/NYSE: EMA). Learn more at nspower.ca.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260417949994/en/

For more information, please contact:

Investor Relations

Dave Bezanson, SVP, Capital Markets
902-233-2674
dave.bezanson@emera.com

Media

Jacqueline Foster, Senior Communications Advisor
902-233-6015
news@nspower.ca

Source: Nova Scotia Power Inc.