Our symbol is an energy wave.

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2 Who we are

3 Our Business Emera Inc. is an international energy and energy services company with roots in Nova Scotia, Canada. Our team includes 7,400 employees working in Canada, the US and the Caribbean. Emera is one of Atlantic Canada s largest publically traded companies and a North American Top 20 utility.

4 Our symbol is an energy wave. Emera = energy. Emera = the French word for sea. Where we live. A symbol of enduring strength and opportunity. Emera = because our time is always now.

5 ASSET SIZE INVESTMENTS/ACQUISITION Our Evolution 1992: Nova Scotia Power (NSPI) Privatized. 1999: NS Power Holding Inc. listed on TSX. 2000: NS Power Holdings renamed Emera Inc. Maritimes & Northeast pipeline begins operations, shipping gas from Sable. 2001: Acquisition of Bangor Hydro (BHE) expands Emera into US Northeast 2002: Emera Energy formed to manage growing gas infrastructure investment portfolio, to run its energy trading services and to see out opportunities for additional investment along the energy value chain. 2004: Bear Swamp acquisition. 2006: BHE transmission growth with the Northeast Reliability Interconnect. 2007: Emera s initial Caribbean investment with 19% interest in St. Lucia Electricity Services. 2008: Brunswick Pipeline completed delivering natural gas form Canaport LNG. Initial investment in GBPC. 2009: Bayside Power acquired including NB/Maine transmission rights essential to Lower Churchill project. Emera s strategic partnership with APUC begins. 2010: Lower Churchill agreements signed creating Emera Newfoundland. Maine Public Service acquisition, later combined with BHE to form Emera Maine. Initial investment in BLPC. 2013: New England Gas Plants acquisition. DOMLEC investment. 2015: TECO Energy

6 Our Structure Regulated Utilities Services Pipelines Other Investments Nova Scotia Power Vertically integrated utility serving Nova Scotia, Canada. Emera Maine Transmission and distribution utility serving northern and southern Maine, USA. Emera Caribbean Vertically integrated utilities Barbados Light & Power, Grand Bahama Power and Dominica Electricity Services in the Caribbean. Includes a minor investment in St. Lucia Electricity Services. Emera Energy Energy marketing and trading, asset management and optimization, owns natural-gas fired generation fleet in Canada and the northeastern USA. Emera Utility Services Utility services contractor working in Atlantic Canada and other regions. Emera New Brunswick Manages the Brunswick Pipeline, a 145km natural gas pipeline in New Brunswick, Canada. Maritimes & Northeast Pipeline Emera owns 12.5% of this natural gas pipeline connecting Maritime Canada and the northeast USA. Algonquin Power Emera s 5% equity interest in APUC allows for a share in APUC s clean, renewable electric generation and sustainability utility distribution businesses. Cape Sharp Tidal Cape Sharp Tidal is a joint venture between Emera and OpenHydro to deliver tidal energy to Nova Scotia. Open Hydro Emera owns a 3.3% interest in tidal energy developer Emera Newfoundland & Labrador Delivering the Maritime Link and managing Emera s investments in associated projects. TECO Tampa Electric and Peoples Gas serve the Florida market % Our target for adjusted earnings to come from rate-regulated businesses New Mexico Gas Co The largest utility in New Mexico.

7 Our Assets - Northeast Company Customers Stations Type Capacity (MW) Emera Energy Bayside Power NB Combined Cycle 260 Bear Swamp MA Pumped Storage - 50% Ownership 600 Bridgeport Energy CT Combined Cycle 560 Brooklyn Power NS Biomass 30 Rumford Power ME Combined Cycle 265 Tiverton Power RI Combined Cycle 265 Emera Maine 159,000 ME Delivery Only Emera New Brunswick Gas Transmission Emera Newfoundland & Labrador Maritime Link Emera Utilty Services T&D Construction Novia Scotia Power 500,000 Lingan Coal 620 Point Aconi Coal- CFB 171 Point Tupper Coal 154 Trenton Coal 307 Tufts Cove Combined Cycle Digby Neck Wind 30 Nuttby Mountain Wind Hydro 400 Annapolis Tidal 20 Port Hawksberry Biomass 60

8 Our Assets - Caribbean Company Customers Stations Type Capacity (MW) Grand Bahama Power Company 20,000 9 Diesel 137 Barbados Light and Power 123, Dominica Electricity Services 35, Hydro/ 2 Diesel 26 St Lucia Electricity Services 60,000 1 Diesel 76

9 Our Assets Southern US Company Customers Stations Type New Mexico Gas 513,000 Gas Distribution Peoples Gas 365,000 Gas Distribution Tampa Electric 725,000 Capacity (MW) Big Bend Coal/Gas 1,767 Bayside Combined & Simple Cycle 1,878 Polk Gasification/Combined Cycle 1,357 TIA PV Solar 2 Grand Total all Emera Assets 2,500,000 9,274

10 Future Assets Company Stations Type Capacity (MW) Barbados Light and Power St Lucy Solar Farm Solar PV 10 St Lucia Electricity Services Solar PV Solar PV 3 Novia Scotia Power South Canoe Wind Farm 102 Novia Scotia Power Cap Sharp Tidal 4 Tampa Electric Solar PV 18 Tampa Electric Legoland Solar Solar PV 2

11 NOVA SCOTIA POWER (100%) RI $4.6bn in assets 30% of earnings EMERA MAINE (100%) RI $1.6bn in assets 10% of earnings EMERA CARIBBEAN INC RI $1.4bn in assets 9% of earnings Emera (Caribbean) Incorporated (95.7%) Barbados Light & Power (95.7%) Lucelec (18.3%) DOMLEC (49.7%) EUS Bahamas (100%) Grand Bahama Power Company (80.4%) EMERA NEWFOUNDLAND/ LABRADOR TRANSMISSION RI Estimated $2bn in assets by 2017* 6% of earnings Maritime Link *(100%) Labrador Island Link *(37.5%) PIPELINES RI $805mm in assets 9% of earnings Brunswick Pipeline (100%) Maritimes & Northeast Pipeline (12.9%) EMERA ENERGY $1.9bn in assets 30% of earnings Emera Energy Services (100%) Marketing and Trading Emera Generation CORPORATE AND OTHER $1.7bn in assets 7% of earnings Emera Utility Services (100%) Algonquin Power (23%) Open Hydro (3.3%) RI Regulated Investments Earnings % s year ended December 31, 2015, and are based on Adjusted Net Income before corporate costs ; Percentages in parenthesis represent ownership %s Assets are as at December 31, 2015 Adjusted Net Income is calculated as reported net income, adjusted for mark-to-market impacts See Appendix for a discussion of certain U.S. non-gaap financial measures as defined under SEC Regulation G *Maritime Link and Labrador Island Link are equity accounted and are in the Corporate and Other segment of the financial statements All amounts in CAD

12 Emera + TECO Emera New Brunswick Emera Newfoundland & Labrador Emera Maine Nova Scotia Power Emera Energy New Mexico Gas Tampa Electric/ Peoples Gas Grand Bahama Power DOMLEC LUCELEC Barbados Light & Power 12

13 Financial Metrics $21bn Emera + TECO Energy Combined assets*** Emera before the merger $6.6bn* Market Capitalization December 31, 2015 $9.2bn Total Assets December 31, 2015 $2.2bn Revenue (Year Ended December 31, 2015) $254mm** Adjusted Net Income (Year Ended December 31, 2015) All figures in USD. *Includes shares issued as part of contingent convertible debentures. * * See Investor Deck, Mar 30, 2016 Appendix for discussion of certain U.S. non-gaap financial measures as defined under SEC Regulation G ***Pro forma Emera consists of TECO Energy assets ($9bn) + Emera assets ($8bn) + Non-GAAP estimated goodwill based on purchase price less excess cash utilized in transaction on EMA balance sheet ($3bn)

14 Emera Projects - Sustainable Energy We are leaders in making energy more sustainable. Emera companies are investing in cleaner ways to generate energy, using sources like wind, hydro, solar and natural gas. And we are investing in projects and technologies to bring cleaner, renewable energy to customers. Barbados Light & Power is building Emera s first utilityscale solar generating facility. The St. Lucy solar farm will generate over 20,000 MWh per year and power ~7,700 households. Nova Scotia has more than 400 MW of wind capacity, thanks to new projects like the 102 MW South Canoe Wind Farm codeveloped by Nova Scotia Power Emera Newfoundland & Labrador is making significant progress on construction of the Maritime Link, which will bring clean hydroelectricity from Newfoundland & Labrador to Nova Scotia and its region.

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16 Innovation Emera s success is rooted in our commitment to innovation. We are particularly focused on developing new solutions to meet customer needs, promote economic development and sustainable energy solutions. Cape Sharp Tidal is making significant advances toward deploying a 4MW tidal array in the Bay of Fundy, with plans to expand to a 300 MW capacity in future phases.

17 Innovation: Tidal Energy

18 Cape Sharp Tidal Emera is partnered with OpenHydro (a DCNS company) to deploy multi-phase tidal array in Atlantic Canada s Bay of Fundy. Goal: develop a commercial tidal industry in Atlantic Canada.

19 Polk 2

20 TIA Solar

21 Large Scale Solar - 18MW

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23 Capital Spending at Tampa Electric $260MM $170MM $230MM $230MM but likely to change as plans solidify

24 What s changing?/ What s driving change Small scale solar Large scale solar Natural gas Potential nontraditional projects Uncertain regulatory future to power a sustainable tomorrow Market conditions dependent

25 Questions?