<SEC-DOCUMENT>0001193125-23-134978.txt : 20230504
<SEC-HEADER>0001193125-23-134978.hdr.sgml : 20230504
<ACCEPTANCE-DATETIME>20230504064457
ACCESSION NUMBER:		0001193125-23-134978
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20230502
FILED AS OF DATE:		20230504
DATE AS OF CHANGE:		20230504

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EMERA INC
		CENTRAL INDEX KEY:			0001127248
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				868143132
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-54516
		FILM NUMBER:		23886317

	BUSINESS ADDRESS:	
		STREET 1:		1223 LOWER WATER ST., B-6TH FLOOR
		STREET 2:		P.O. BOX 910
		CITY:			HALIFAX
		STATE:			A5
		ZIP:			B3J 3S8
		BUSINESS PHONE:		902-428-6494

	MAIL ADDRESS:	
		STREET 1:		1223 LOWER WATER ST., B-6TH FLOOR
		STREET 2:		P.O. BOX 910
		CITY:			HALIFAX
		STATE:			A5
		ZIP:			B3J 3S8
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d274828d6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML><HEAD>
<TITLE>6-K</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES
AND EXCHANGE COMMISSION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">6-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>REPORT OF FOREIGN PRIVATE ISSUER </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT TO RULE <FONT STYLE="white-space:nowrap">13a-16</FONT> OR <FONT STYLE="white-space:nowrap">15d-16</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>For the month of May, 2023 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Commission File Number: <FONT STYLE="white-space:nowrap">000-54516</FONT> </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Emera Incorporated </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>5151 Terminal Road </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Halifax NS B3J 1A1 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Canada </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of
principal executive offices) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Indicate by check mark whether the registrant files or will file annual reports under cover of Form
<FONT STYLE="white-space:nowrap">20-F</FONT> or Form <FONT STYLE="white-space:nowrap">40-F.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Form
<FONT STYLE="white-space:nowrap">20-F&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form</FONT> <FONT STYLE="white-space:nowrap">40-F&nbsp;&nbsp;&#9745;</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Indicate by check mark if the registrant is submitting the Form <FONT STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by
Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(1):&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Indicate by check mark if the registrant is
submitting the Form <FONT STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(7):&nbsp;&nbsp;&#9744; </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized. </P> <P STYLE="font-size:36pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"><B>EMERA INCORPORATED</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
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<TD VALIGN="bottom">Date: May&nbsp;4, 2023</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Stephen D. Aftanas</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name: Stephen D. Aftanas</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title: Corporate Secretary</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Exhibit&nbsp;No.</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


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<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">99.1</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Emera-Media Release dated May&nbsp;2, 2023</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">99.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Second Supplemental Trust Indenture</P></TD></TR>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d274828dex991.htm
<DESCRIPTION>EX-99.1
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="right">


<IMG SRC="g274828g06v27.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:20pt; font-family:Times New Roman" ALIGN="justify">FOR IMMEDIATE RELEASE </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><I>NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><I>THE UNITED STATES </I></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL" ALIGN="center"><B>EMERA ISSUES $500 MILLION
PRINCIPAL AMOUNT OF SENIOR </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL" ALIGN="center"><B>UNSECURED NOTES DUE MAY&nbsp;2, 2030 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>HALIFAX, Nova Scotia</B>, May&nbsp;2, 2023: Emera Incorporated (<B>&#147;Emera&#148;</B> or the <B>&#147;Company&#148;</B>) (TSX:EMA) announced today
that it has completed an offering of $500&nbsp;million principal amount of Senior Unsecured Notes Due May&nbsp;2, 2030, Series <FONT STYLE="white-space:nowrap">2023-1</FONT> (the &#147;<B>Notes</B>&#148;). The Notes were offered on a private
placement basis (the &#147;<B>Offering</B>&#148;) in each of the provinces of Canada pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws. The Notes bear interest at the rate of 4.838% per annum until
May&nbsp;2, 2030. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The net proceeds of the Offering will be added to the general funds of the Company and applied primarily to refinance existing or
maturing indebtedness, including bank indebtedness and the Company&#146;s outstanding 2.900% Notes &#150; Series <FONT STYLE="white-space:nowrap">2016-1</FONT> due June&nbsp;16, 2023 and for other general corporate purposes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The Offering was made through a syndicate of agents led by Scotia Capital Inc. and RBC Capital Markets, and included BMO Nesbitt Burns Inc., CIBC World
Markets Inc., TD Securities Inc. and National Bank Financial Inc. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">This news release does not constitute an offer to sell or the solicitation of any
offer to buy, nor will there be any sale of these securities, in the United States or in any province, state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the
securities laws of the United States or any such province, state or other jurisdiction. These securities may not be offered or sold in the United States absent registration or an exemption from registration. The securities being offered have not
been approved or disapproved by any regulatory authority. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Forward Looking Information </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">This news release contains <FONT STYLE="white-space:nowrap">forward-looking</FONT> information within the meaning of applicable securities laws,
including statements concerning Emera&#146;s intended use of the net proceeds of the Offering. Undue reliance should not be placed on this <FONT STYLE="white-space:nowrap">forward-looking</FONT> information, which applies only as of the date hereof.
By its nature, <FONT STYLE="white-space:nowrap">forward-looking</FONT> information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management&#146;s current beliefs and are based
on information currently available to Emera&#146;s management. There is a risk that predictions, forecasts, conclusions and projections that constitute <FONT STYLE="white-space:nowrap">forward-looking</FONT> information will not prove to be
accurate, that Emera&#146;s assumptions may not be correct and that actual results may differ materially from such <FONT STYLE="white-space:nowrap">forward-looking</FONT> information. Additional detailed information about these assumptions, risks
and uncertainties is included in Emera&#146;s securities regulatory filings, including under the heading &#147;Business Risks and Risk Management&#148; in Emera&#146;s annual Management&#146;s Discussion and Analysis, and under the heading
&#147;Principal Risks and Uncertainties&#148; in the notes to Emera&#146;s annual financial statements, copies of which are available electronically under Emera&#146;s profile on SEDAR at
<FONT STYLE="font-family:ARIAL; font-size:10pt" COLOR="#0000ff"><U>www.sedar.com</U></FONT><FONT STYLE="font-family:ARIAL">. </FONT></P>
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 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="right">


<IMG SRC="g274828g06v27.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:20pt; font-family:Times New Roman" ALIGN="justify">FOR IMMEDIATE RELEASE </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>About Emera </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Emera is a geographically diverse energy and
services company headquartered in Halifax, Nova Scotia, with approximately $40&nbsp;billion in assets and 2022 revenues of more than $7.5&nbsp;billion. The Company primarily invests in regulated electricity generation and electricity and gas
transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in three Caribbean countries. Emera&#146;s common and preferred shares are
listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H, EMA.PR.J and EMA.PR.L. Depositary receipts representing common shares of Emera are listed on the Barbados
Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at <FONT STYLE="font-family:ARIAL; font-size:10pt" COLOR="#0000ff"><U>www.emera.com</U></FONT><FONT
STYLE="font-family:ARIAL"> or at </FONT><FONT STYLE="font-family:ARIAL; font-size:10pt" COLOR="#0000ff"><U>www.sedar.com</U></FONT><FONT STYLE="font-family:ARIAL">. </FONT></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>For more information, please contact: </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Emera Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Investor Relations: </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Dave Bezanson, VP, Investor Relations&nbsp;&amp;
Pensions </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">902-474-2126</FONT></FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL; font-size:10pt" COLOR="#0000ff"><U>dave.bezanson@emera.com</U></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Arianne Amirkhalkhali, Manager, Investor Relations </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">902-425-8130</FONT></FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL; font-size:10pt" COLOR="#0000ff"><U>arianne.amirkhalkhali@emera.com</U></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Media: </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">902-222-2683</FONT></FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL; font-size:10pt" COLOR="#0000ff"><U>media@emera.com</U></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>
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<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>d274828dex992.htm
<DESCRIPTION>EX-99.2
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><U>SECOND SUPPLEMENTAL TRUST INDENTURE </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">This Second Supplemental Trust Indenture is entered into as of the 2<SUP STYLE="font-size:75%; vertical-align:top">nd</SUP> day of May, 2023
between: </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><B>EMERA INCORPORATED</B>, a company formed under the laws of the Province of Nova Scotia </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:11%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">(the &#147;<B>Issuer</B>&#148;) </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">- and - </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><B>TSX
TRUST COMPANY</B>, a trust company incorporated under the laws of Canada </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:11%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">(the &#147;<B>Trustee</B>&#148;) </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><B>WHEREAS</B> the Issuer and the Trustee, as successor trustee, are party to a trust indenture (the &#147;<B>Indenture</B>&#148;) dated
June&nbsp;16, 2016 to provide for the creation and issuance of senior unsecured notes; </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><B>AND WHEREAS</B> Section&nbsp;12.1 of the
Indenture provides that the Trustee may enter into indentures supplemental to the Indenture; </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><B>AND WHEREAS</B> the Issuer has determined
to create and issue a second Series of Notes to be designated as 4.838% senior unsecured notes due May&nbsp;2, 2030 (Series <FONT STYLE="white-space:nowrap">2023-1)</FONT> (the &#147;<B>Series <FONT STYLE="white-space:nowrap">2023-1</FONT>
Notes</B>&#148;) and to enter into this second supplemental trust indenture (the &#147;<B>Supplemental Indenture</B>&#148;) with the Trustee to provide for such creation and issuance of the Series <FONT STYLE="white-space:nowrap">2023-1</FONT>
Notes; </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><B>AND WHEREAS</B> all necessary acts and proceedings have been done and taken and all necessary resolutions have been passed to
authorize the execution and delivery of this Supplemental Indenture, to make the same effective and binding upon the Issuer, and to make the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes, when certified by the Trustee and issued as
provided in the Indenture and this Supplemental Indenture, valid, binding and legal obligations of the Issuer with the benefit and subject to the terms of the Indenture and this Supplemental Indenture; </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><B>AND WHEREAS</B> the foregoing recitals are made as representations and statements of fact by the Issuer and not by the Trustee. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><B>NOW THEREFORE</B> it is hereby covenanted, agreed and declared as set forth below. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 1 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><U>DEFINITIONS AND AMENDMENTS TO INDENTURE </U></B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>1.1</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify"><B>Definitions </B></P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">All capitalized terms not defined herein shall have the meanings given to them in the Indenture.
</P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">In this Supplemental Indenture, all references to Articles, Sections and Schedules refer, unless otherwise
specified, to articles, sections and schedules of or to this Supplemental Indenture. </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 2 - </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>1.2</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify"><B>Amendments to Indenture </B></P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">This Supplemental Indenture is supplemental to the Indenture and the Indenture and the Supplemental Indenture shall hereafter
be read together and shall have effect, so far as practicable, with respect to the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes as if all the provisions of the Indenture and this Supplemental Indenture were contained in one
instrument. The Indenture is and shall remain in full force and effect with regards to all matters governing the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes, except as the Indenture is amended, superseded, modified or supplemented by
this Supplemental Indenture. Notwithstanding the foregoing, in the event of any inconsistency between the provisions of this Supplemental Indenture and the provisions of the Indenture, the provisions of this Supplemental Indenture shall prevail.
</P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 2 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><U>THE
SERIES <FONT STYLE="white-space:nowrap">2023-1</FONT> NOTES </U></B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>2.1</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify"><B>Creation and Designation </B></P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">There is hereby authorized to be issued under the Indenture a Series of Notes designated as 4.838% senior unsecured notes due
May&nbsp;2, 2030 (Series <FONT STYLE="white-space:nowrap">2023-1).</FONT> The Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes shall have the terms set forth in this Article 2 and be subject to the applicable provisions of the Indenture
and this Supplemental Indenture. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>2.2</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify"><B>Form and Terms of Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes </B></P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes authorized for issue are initially limited
to an aggregate principal amount of $500,000,000 and shall be designated as 4.838% senior unsecured notes due May&nbsp;2, 2030 (Series <FONT STYLE="white-space:nowrap">2023-1);</FONT> provided that the Issuer may, without the consent of the
Noteholders, increase the principal amount of the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes outstanding by issuing additional Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes (&#147;<B>Additional Notes</B>&#148;) in the
future on the same terms and conditions (including, without limitation, the right to receive accrued and unpaid interest), except for differences in the issue price and issue date of the Additional Notes, and with the same CUSIP/ISIN numbers as the
Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes then outstanding; provided further that if the Additional Notes are not fungible with the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes then outstanding for income tax
purposes, the Additional Notes shall have separate CUSIP/ISIN numbers. No Additional Notes may be issued if an Event of Default has occurred and is continuing with respect to the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes. Any
Additional Notes shall rank equally and ratably with the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes then outstanding and shall be treated as a single series for all purposes hereunder and under the Indenture. From and after the
issue date of any Additional Notes, any reference herein to Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes shall include such Additional Notes. </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes shall mature on May&nbsp;2, 2030.
</P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 3 - </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The Series 2023-1 Notes bear interest from May 2, 2023, or from the last Interest Payment Date (as defined
below) to which interest shall have been paid or made available for payment thereon, whichever is later, to, but excluding the next Interest Payment Date, at the rate of 4.838% per annum, payable semi-annually in arrears in equal instalments on May
2 and November 2 in each year (each, an &#147;<B>Interest Payment Date</B>&#148;) commencing November 2, 2023, in an amount equal to $24.19 per $1,000 principal amount. The first interest payment on November 2, 2023 shall be in respect of Series
2023-1 Notes issued on the date hereof and the last such payment (representing interest payable from and including the last Interest Payment Date to, but excluding, the Maturity Date of the Series 2023-1 Notes or Redemption Date of the Series 2023-1
Notes), subject as herein provided, to fall due on May 2, 2030 or the Redemption Date, payable after as well as before maturity and after as well as before default, with interest on amounts in default at the same rate, compounded semi-annually.
Interest payable for any period less than a full semiannual period shall be computed on the basis of a 365-day year and the actual number of days elapsed in the period. </P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The Series 2023-1 Notes are redeemable at any time at the option of the Issuer, in whole or in part, subject
to any conditions of redemption as may be specified in the applicable notice of redemption, on not fewer than 10 nor more than 60 days prior notice on payment of a Redemption Price equal to the greater of (i)&nbsp;the applicable Canada Yield Price
and (ii)&nbsp;par, together in each case with accrued and unpaid interest to the Redemption Date. In the event that the Company elects to redeem the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes in whole or in part on or after
March&nbsp;2, 2030 (2 months prior to the Maturity Date of the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes) (the &#147;<B>Par Call Date</B>&#148;), the Redemption Price shall equal par, together with accrued and unpaid interest to
the date fixed for redemption. A conditional notice of redemption will be of no effect unless all conditions of the redemption have been satisfied on or before the Redemption Date specified in such notice. For any notice of redemption that is
conditional, in the event that the condition(s) are not satisfied or waived by the Issuer in its sole discretion on or prior to the Redemption Date, the redemption shall not be made and the Issuer shall promptly (but in any event no later than the
Redemption Date) give notice, in the manner which the notice of redemption was given, that such conditions(s) were not satisfied or waived, in which case such notice of redemption shall be rescinded and such redemption shall not be made, and the
Trustee shall promptly return to the holders thereof any Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes which had been surrendered for payment upon such redemption. For the avoidance of doubt, the Trustee shall have no responsibility
for determining whether or not a condition set forth in such notice of redemption is satisfied, and shall be entitled to conclusively rely upon the Issuer&#146;s determination regarding satisfaction or waiver thereof. </P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The &#147;<B>Canada Yield Price</B>&#148; means a price equal to the price of the Series
<FONT STYLE="white-space:nowrap">2023-1</FONT> Notes calculated to provide a yield to the Par Call Date equal to the Government of Canada Yield calculated on the date on which the Issuer gives notice of redemption plus 0.51%. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 4 - </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The &#147;<B>Government of Canada Yield</B>&#148; on any date means the
yield to the Par Call Date on such date, compounded semi-annually and calculated in accordance with generally accepted financial practice, which a <FONT STYLE="white-space:nowrap">non-callable</FONT> Government of Canada bond would carry if issued
in Canadian dollars in Canada, at 100% of its principal amount on such date with a term to maturity equal to the remaining term to the Par Call Date calculated as of the redemption date of the Series <FONT STYLE="white-space:nowrap">2023-1</FONT>
Notes, such yield to the Par Call Date being the average of the yields provided by two major Canadian investment dealers selected by the Issuer. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes shall be issued in denominations of $1,000
and integral multiples of $1,000. Each certificate representing the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes and the certificate of the Trustee endorsed thereon shall be issued in substantially the form set out in Schedule A to
this Supplemental Indenture, with such insertions, omissions, substitutions or other variations as shall be required or permitted by the Indenture and this Supplemental Indenture, and may have imprinted or otherwise reproduced thereon such legends
or endorsements, not inconsistent with the provisions of the Indenture or this Supplemental Indenture, as may be required to comply with any law or with any rules or regulations pursuant thereto or with any rules or regulations of any securities
exchange or securities regulatory authority or to conform with general usage, all as may be determined by any two authorized directors and/or officers of the Issuer executing such Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Note in
accordance with Section&nbsp;2.7 of the Indenture, as conclusively evidenced by their execution thereof. Each certificate representing the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes shall additionally bear such distinguishing
letters and numbers as the Trustee shall approve. Notwithstanding the foregoing, the certificate representing the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes may be in such other form or forms as may, from time to time, be, approved
by a resolution of the Board of Directors of the Issuer, or as specified in an Officers&#146; Certificate. The certificate representing the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes may be engraved, lithographed, printed,
mimeographed or typewritten or partly in one form and partly in another. </P></TD></TR></TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The Series <FONT
STYLE="white-space:nowrap">2023-1</FONT> Notes shall be issued as a Global Note and the Global Note will be registered in the name of the Depository which, as of the date hereof, shall be CDS Clearing and Depository Services Inc. (or any nominee of
the Depository). No beneficial holder will receive definitive certificates representing their interest in Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes except as provided in Section&nbsp;2.5 of the Indenture. A Global Note may be
exchanged for Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes in registered form that are not Global Notes, or transferred to and registered in the name of a Person other than the Depository for such Global Notes or a nominee thereof as
provided in Section&nbsp;3.2 of the Indenture. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify">The Trustee shall be provided with the documents and instruments referred to in Sections 2.7(c) of the
Indenture with respect to the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes prior to the issuance of the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes. </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 5 - </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 3 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><U>ADDITIONAL MATTERS </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>3.1</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify"><B>Confirmation of Indenture </B></P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The Indenture, as amended and supplemented by this Supplemental Indenture, is in all respects confirmed. </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>3.2</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify"><B>Acceptance of Trusts </B></P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The Trustee hereby accepts the trusts in this Supplemental Indenture declared and provided for and agrees to perform the same
upon the terms and conditions and subject to the provisions set forth in the Indenture. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>3.3</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify"><B>Governing Law </B></P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">This Supplemental Indenture and the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes shall be construed in
accordance with the laws of the Province of Nova Scotia and the laws of Canada applicable therein and shall be treated, in all respects, as Nova Scotia contracts. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>3.4</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify"><B>Further Assurances </B></P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The parties shall, with reasonable diligence, do all such things and provide all such reasonable assurances as may be required
to consummate the transactions contemplated by this Supplemental Indenture, and each party shall provide such further documents or instruments required by the other party as may be reasonably necessary or desirable to effect the purpose of the
Indenture and this Supplemental Indenture and carry out its provisions. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>3.5</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="justify"><B>Counterparts and Formal Date </B></P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">This Supplemental Indenture may be simultaneously executed in several counterparts, each of which when so executed shall be
deemed to be an original and all such counterparts together shall constitute one and the same instrument and notwithstanding their date of execution shall be deemed to bear date as of May&nbsp;2, 2023. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><I>[Signature Page to Follow] </I></B></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><B>IN WITNESS WHEREOF</B> the parties hereto have executed this Supplemental Indenture. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"><B>EMERA INCORPORATED</B></TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><I>(signed) &#147;Gregory W. Blunden&#148;</I></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name: Gregory W. Blunden</TD></TR>
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<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title: Chief Financial Officer</TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><I>(signed) &#147;Stephen D. Aftanas&#148;</I></TD></TR>
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<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name: Stephen D. Aftanas</TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title: Corporate Secretary</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"><B>TSX TRUST COMPANY</B></TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><I>(signed) &#147;Marcus Boire&#148;</I></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Authorized Signatory</TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><I>(signed) &#147;Nelia Andrade&#148;</I></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Second Supplemental
Trust Indenture </I></P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE A </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SPECIMEN GLOBAL NOTE </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><I>Unless permitted under securities legislation, the holder of this security must not trade the security before the date that is 4 months and
a day after September&nbsp;3, 2023. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><I>Unless this certificate is presented by an authorized representative of CDS Clearing and
Depository Services Inc. (&#147;CDS&#148;) to Emera Incorporated (the &#147;Issuer&#148;) or its agent for registration of transfer, exchange or payment, and any certificate issued in respect thereof is registered in the name of CDS&nbsp;&amp; Co.,
or in such other name as is requested by an authorized representative of CDS (and any payment is made to CDS&nbsp;&amp; Co., or to such other entity as is requested by an authorized representative of CDS), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered holder hereof, CDS&nbsp;&amp; Co., has a property interest in the securities represented by this certificate herein and it is a violation of its rights for another person to
hold, transfer or deal with this certificate. </I></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:12pt">No. &#9679;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">CUSIP/ISIN: 290876AE1 / CA290876AE12</TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:13pt; font-family:Times New Roman" ALIGN="center"><B>EMERA INCORPORATED </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:Times New Roman" ALIGN="center"><B>(a company formed under the laws of Nova Scotia) </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:Times New Roman" ALIGN="center"><B>4.838% SENIOR UNSECURED NOTES </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:Times New Roman" ALIGN="center"><B>DUE MAY&nbsp;2, 2030 (SERIES <FONT STYLE="white-space:nowrap">2023-1)</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><B>EMERA INCORPORATED</B> (the &#147;<B>Issuer</B>&#148;), for value received, hereby acknowledges itself indebted and, subject to the
provisions of the indenture (the &#147;<B>Original Indenture</B>&#148;) dated as of June&nbsp;16, 2016 between the Issuer and TSX Trust Company, as successor trustee (the &#147;<B>Trustee</B>&#148;), as amended by a second supplemental trust
indenture (the &#147;<B>Second Supplemental Trust Indenture</B>&#148;) dated as of May&nbsp;2, 2023 (the Original Indenture as supplemented by the Second Supplemental Trust Indenture being referred to as the &#147;<B>Indenture</B>&#148;) between the
Issuer and the Trustee, promises to pay to CDS&nbsp;&amp; Co. or registered assigns on May&nbsp;2, 2030 (the &#147;<B>Maturity Date</B>&#148;) or on such earlier date as the principal amount hereof may become due in accordance with the provisions of
the Indenture, the principal sum of FIVE HUNDRED MILLION ($500,000,000) in lawful money of Canada on presentation and surrender of this 4.838% senior unsecured note due May&nbsp;2, 2030 (Series <FONT STYLE="white-space:nowrap">2023-1)</FONT> (the
&#147;<B>Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes</B>&#148;) at the principal office of the Trustee in Montreal, Queb&eacute;c in accordance with the terms of the Indenture. The Series
<FONT STYLE="white-space:nowrap">2023-1</FONT> Notes shall, subject as herein provided, bear interest on the principal amount hereof from May&nbsp;2, 2030, or from the last Interest Payment Date to which interest shall have been paid or made
available for payment hereon, whichever is later, at the rate of 4.838% per annum, in like money, payable semi-annually in arrears in equal instalments on May&nbsp;2 and November&nbsp;2 in each year commencing on November&nbsp;2, 2023 in an amount
equal to $24.19 per $1,000 principal amount. The last interest payment representing interest payable from the last Interest Payment Date to, but excluding, the Maturity Date or Redemption Date will fall due on the Maturity Date or Redemption Date
and, should the Issuer at any time make default in the payment of any principal or interest, the Issuer shall pay </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-1 </P>

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interest on the amount in default at the same rate, in like money and on the same dates on which interest is otherwise payable. Interest payable for any period less than a full semi-annual period
shall be computed on the basis of a <FONT STYLE="white-space:nowrap">365-day</FONT> year and the actual number of days elapsed in the period. Interest hereon shall be payable by cheque mailed by prepaid ordinary mail to the registered holder hereof
or by electronic transfer of funds to the registered holder hereof, and subject to the provisions of the Indenture, the mailing of such cheque or the sending of such electronic transfer of funds shall, to the extent of the sum represented thereby
(plus the amount of any tax withheld) satisfy and discharge all liability for interest on this Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Note. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">This Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Note is one of the Notes of the Issuer issued or issuable in one or more Series
under the provisions of the Original Indenture. The Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes authorized for issue are limited to an initial aggregate principal amount of $500,000,000 in lawful money of Canada. Reference is hereby
expressly made to the Indenture for a description of the terms and conditions upon which the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes are or are to be issued and held and the rights and remedies of the holders of the Series <FONT
STYLE="white-space:nowrap">2023-1</FONT> Notes and of the Issuer and of the Trustee, all to the same effect as if the provisions of the Indenture were herein set forth to all of which provisions the holder of this Series <FONT
STYLE="white-space:nowrap">2023-1</FONT> Note by acceptance hereof assents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The Series <FONT STYLE="white-space:nowrap">2023-1</FONT>
Notes are issuable only in denominations of $1,000 and integral multiples thereof. Upon compliance with the provisions of the Indenture, Notes of any denomination may be exchanged for an equal aggregate principal amount of Notes in any other
authorized denomination or denominations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The Issuer will be required to redeem all or part of the Series
<FONT STYLE="white-space:nowrap">2023-1</FONT> Notes in accordance with and subject to the terms and conditions of the Indenture. In addition, the Issuer may redeem the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes, in whole or in
part, in accordance with and subject to the terms and conditions of the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The indebtedness evidenced by this Series <FONT
STYLE="white-space:nowrap">2023-1</FONT> Note, and by all other Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes now or hereafter certified and delivered under the Indenture, is a direct unsecured obligation of the Issuer, and ranks
equally and <I>pari passu</I> with each other and with Notes of every other Series (regardless of their actual dates or terms of issue) and, subject to statutory preferred exceptions, with all other present and future unsubordinated and unsecured
indebtedness of the Issuer, except as to sinking fund provisions applicable to different series of Notes and other similar types of obligations, of the Issuer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The principal hereof may become or be declared due and payable before the stated maturity in the events, in the manner, with the effect and at
the times provided in the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Any payment of money to any holder of Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes
will be reduced by the amount of applicable withholding tax, if any. The Original Indenture contains provisions making binding upon all holders of Notes outstanding thereunder (or in certain circumstances specific Series of Notes) resolutions passed
at meetings of such holders held in accordance with such provisions and instruments signed by the holders of a specified majority of Notes outstanding (or specific Series), which resolutions or instruments may have the effect of amending the terms
of these Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes or the Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-2 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Note may only be transferred, upon
compliance with the conditions prescribed in the Indenture, in the registers to be kept at the principal office of the Trustee in Toronto and in such other place or places and/or by such other registrars (if any) as the Issuer with the approval of
the Trustee may designate. No transfer of this Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Note shall be valid unless made on the register by the registered holder hereof or his executors or administrators or other legal representatives,
or his or their attorney duly appointed by an instrument in form and substance satisfactory to the Trustee or other registrar, and upon compliance with such reasonable requirements as the Trustee and/or other registrar may prescribe and upon
surrender of this Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Note for cancellation. Thereupon a new Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Note or Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Notes in the same
aggregate principal amount shall be issued to the transferee in exchange hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">This Series
<FONT STYLE="white-space:nowrap">2023-1</FONT> Note shall not become obligatory for any purpose until it shall have been certified by the Trustee under the Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Capitalized words or expressions used in the Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Note shall, unless otherwise defined
herein, have the meaning ascribed thereto in the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">If any of the provisions of this Series
<FONT STYLE="white-space:nowrap">2023-1</FONT> Note are inconsistent with the provisions of the Indenture, the provisions of the Indenture shall take precedence and shall govern. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify"><B>IN WITNESS WHEREOF EMERA INCORPORATED</B> has caused this Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Note to be signed by its
authorized representatives as of the &#9679; day of &#9679;, &#9679;. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:12pt; font-family:Times New Roman"><B>EMERA INCORPORATED</B></P></TD></TR>
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<TD HEIGHT="24" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
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<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:12pt; font-family:Times New Roman">Name:</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:12pt; font-family:Times New Roman">Title:</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:12pt; font-family:Times New Roman">Name:</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:12pt; font-family:Times New Roman">Title:</P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-3 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>TRUSTEE&#146;S CERTIFICATE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="justify">This Series <FONT STYLE="white-space:nowrap">2023-1</FONT> Note is one of the 4.838% Senior Unsecured Notes due May&nbsp;2, 2030 (Series <FONT
STYLE="white-space:nowrap">2023-1)</FONT> referred to in the Indenture within mentioned. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:12pt; font-family:Times New Roman"><B>TSX TRUST COMPANY</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:12pt; font-family:Times New Roman">(Authorized Officer)</P></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>(FORM OF REGISTRATION PANEL) </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">(No writing hereon except by Trustee or other registrar) </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="98%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR STYLE="font-size:1pt" BGCOLOR="#b2b2b2">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR BGCOLOR="#b2b2b2" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><B>Date of Registration</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>In Whose Name Registered</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"><B>Signature of Trustee or Registrar</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">CDS&nbsp;&amp;
Co.</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-4 </P>

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