Fortis Inc. Announces Closing of Offering of Senior Unsecured Notes

Not for distribution to U.S. news wire services or dissemination in the United States.

This news release constitutes a "designated news release" for the purposes of the Corporation's prospectus supplement dated December 9, 2024 to Fortis' short form base shelf prospectus dated December 9, 2024.

/EIN News/ -- ST. JOHN'S, Newfoundland and Labrador, March 26, 2025 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (TSX: FTS) announced today that it has closed its offering by private placement (the "Offering"), pursuant to the exemptions from the prospectus requirements of applicable Canadian securities laws, of $600 million aggregate principal amount of 4.090% senior unsecured notes due March 26, 2032 (the "Notes"). The Offering was made through a syndicate of agents co-led by RBC Dominion Securities Inc., BMO Nesbitt Burns Inc. and TD Securities Inc. (collectively, the "Joint Bookrunners") and CIBC World Markets Inc., Scotia Capital Inc., Desjardins Securities Inc., National Bank Financial Inc., Merrill Lynch Canada Inc., Morgan Stanley Canada Limited, MUFG Securities (Canada), Ltd., Wells Fargo Securities Canada, Ltd. and Cedar Leaf Capital Inc. (collectively, the "Co-Managers", and together with the Joint Bookrunners, the "Agents").

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This media release shall not constitute an offer to sell or an invitation to purchase or subscribe for any securities in the United States or in any other jurisdiction where such offer is unlawful.

About Fortis

Fortis is a well-diversified leader in the North American regulated electric and gas utility industry with 2024 revenue of $12 billion and total assets of $73 billion as at December 31, 2024. The Corporation's 9,800 employees serve utility customers in five Canadian provinces, ten U.S. states and three Caribbean countries. Fortis' shares are listed on the Toronto Stock Exchange and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedarplus.com or www.sec.gov.

Not for distribution to U.S. news wire services or dissemination in the United States.

A .pdf version of this press release is available at: http://ml.globenewswire.com/Resource/Download/c6cf7351-6171-4cb8-b97c-4566bfa7fffa

For more information, please contact

Investor Enquiries: Ms. Stephanie Amaimo Vice President, Investor Relations Fortis Inc. 248.946.3572 investorrelations@fortisinc.com

Media Enquiries: Ms. Karen McCarthy Vice President, Communications & Government Relations Fortis Inc. 709.737.5323 media@fortisinc.com