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 September 19, 2023 to its short form base shelf prospectus dated November 21, 2022.

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 $500 million aggregate principal amount of 4.171% senior unsecured notes due September 9, 2031 (the “Notes”). The Offering was made through a syndicate of agents co-led by Scotia Capital Inc., TD Securities Inc. and BMO Nesbitt Burns Inc. (collectively, the “Joint Bookrunners”) and CIBC World Markets Inc., RBC Dominion Securities Inc., Desjardins Securities Inc., National Bank Financial Inc., Merrill Lynch Canada Inc., Morgan Stanley Canada Limited, MUFG Securities (Canada), Ltd. and Wells Fargo Securities Canada, Ltd. (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 2023 revenue of $12 billion and total assets of $69 billion as at June 30, 2024. The Corporation’s 9,600 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/b82be5d7-0a1a-4d8a-ac11-0d9233ca1a16

For more information, please contact

Investor Enquiries:Ms. Stephanie AmaimoVice President, Investor RelationsFortis [e-mail]

Media Enquiries:Ms. Karen McCarthyVice President, Communications & Government RelationsFortis [e-mail]