Fortis (FTS) Investor Presentation summary

Strategic vision and operational highlights

• Focus on sustainable growth, operational excellence, and delivering a cleaner energy future through a diversified regulated portfolio across North America.

• 99% of assets are regulated utilities, serving 3.5 million customers with 9,600 employees.

• Outperformed industry averages in safety and reliability, with strong governance and local oversight.

• Maintained customer affordability through cost control, efficiency programs, and energy transition investments.

Financial performance and growth

• Five-year capital plan of $26B (2025-2029), with a $1B increase over the prior plan, focused on regulated investments and energy transition.

• Rate base expected to grow from $38.8B in 2024 to $53.0B in 2029, a CAGR of 6.5%.

• Funding plan: 59% from cash from operations, 30% net debt, 11% DRIP, supporting a consistent capital structure.

• Maintained investment-grade credit ratings with strong cash flow to debt metrics (12%+ average for 2025-2029).

• 4-6% annual dividend growth guidance through 2029, with 51 consecutive years of increases.

Clean energy and sustainability

• Achieved a 33% reduction in GHG emissions since 2019; targeting 50% reduction by 2030, 75% by 2035, and net-zero by 2050.

• Coal-free generation mix targeted by 2032, with major investments in renewables, storage, and LNG infrastructure.

• Sustainability reporting includes climate scenario analysis, resiliency, biodiversity, and governance advancements.

• FortisBC targets a 35% reduction in absolute scope 1 GHG emissions by 2035 and increased renewable gas supply.