Fortis Inc. Announces First Quarter Dividends - 2023

The Board of Directors of Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE: FTS) has declared the following dividends:

1. $0.3063 per share on the First Preference Shares, Series "F" of the Corporation, payable on March 1, 2023 to the Shareholders of Record at the close of business on February 15, 2023;  
2. $0.2745625 per share on the First Preference Shares, Series "G" of the Corporation, payable on March 1, 2023 to the Shareholders of Record at the close of business on February 15, 2023;  
3. $0.11469 per share on the First Preference Shares, Series "H" of the Corporation, payable on March 1, 2023 to the Shareholders of Record at the close of business on February 15, 2023;  
4. 0.346562 per share on the First Preference Shares, Series "I" of the Corporation, payable on March 1, 2023 to the Shareholders of Record at the close of business on February 15, 2023;  
5. $0.2969 per share on the First Preference Shares, Series "J" of the Corporation, payable on March 1, 2023 to the Shareholders of Record at the close of business on February 15, 2023;  
6. $0.2455625 per share on the First Preference Shares, Series "K" of the Corporation, payable on March 1, 2023 to the Shareholders of Record at the close of business on February 15, 2023;  
7. $0.2445625 per share on the First Preference Shares, Series "M" of the Corporation, payable on March 1, 2023 to the Shareholders of Record at the close of business on February 15, 2023; and  
8. $0.565 per share on the Common Shares of the Corporation, payable on March 1, 2023 to the Shareholders of Record at the close of business on February 15, 2023.

The Corporation has designated the common share dividend and preference share dividends as eligible dividends for federal and provincial dividend tax credit purposes. All amounts are given in Canadian dollars unless otherwise indicated.

About Fortis Fortis is a well-diversified leader in the North American regulated electric and gas utility industry, with 2021 revenue of $9.4 billion and total assets of $64 billion as at September 30, 2022. The Corporation's 9,100 employees serve utility customers in five Canadian provinces, nine U.S. states and three Caribbean countries.

Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedar.com or www.sec.gov.

For more information, please contact Investor Enquiries: Ms. Stephanie Amaimo Vice President, Investor Relations Fortis Inc. 248.946.3572 [e-mail]

Media Enquiries: Ms. Karen McCarthy Vice President, Communications & Corporate Affairs Fortis Inc. 709.737.5323 [e-mail]

A .pdf version of this press release is available at: http://ml.globenewswire.com/Resource/Download/d36f11f0-99ee-4e2b-a6cf-258a7205dcaf