Fortis (FTS) Retail Presentation summary

Business overview

• Operates 10 regulated utilities across Canada, the U.S., and the Caribbean, serving 3.5 million electricity and gas customers.

• 99% of assets are regulated utility assets, with 93% in transmission and distribution.

• Employs 9,800 people and has a strong focus on safety, reliability, and governance.

Financial and operational highlights

• Forecasts $5.2 billion in capital expenditures for 2025 and a $40.7 billion rate base.

• Five-year capital plan (2025-2029) totals $26 billion, with a projected rate base CAGR of 6.5%.

• Expects rate base to increase by ~$14 billion to $53 billion by 2029.

• Maintains investment-grade credit ratings and a transparent funding plan.

Growth strategy and opportunities

• Focused on robust transmission investment pipeline and cleaner energy transition.

• Additional growth opportunities include major projects in Michigan, Minnesota, and Iowa, as well as data center and retail load expansions.

• Potential investments in LNG expansion, renewable gases, and regional transmission partnerships.