Fortis Inc. (“Fortis” or the “Corporation”) (TSX/NYSE: FTS), a diversified leader in the North American regulated electric and gas utility industry, released its third quarter results and 2027-2031 outlook.¹

Highlights

• Third quarter net earnings of $474 million or $0.92 per common share, up from $0.81 per common share in 2025
• Adjusted net earnings per common share² of $0.92, up from $0.87 per common share in the third quarter of 2025
• Capital expenditures² of $4.2 billion through September; capital investment of $6.0 billion expected for 2026
• Released 2027-2031 capital plan of $32.2 billion, $3.4 billion higher than prior plan and supporting 7.5% rate base growth³
• Competitive project in Iowa totalling US$1.0 billion awarded to ITC, with US$0.5 billion reflected in the new five-year plan
• Environmental approval received for both the Tilbury LNG Storage Tank and Phase 2 LNG Expansion projects in British Columbia
• Recommended Opinion and Order issued with respect to TEP’s rate application
• Increased fourth quarter common share dividend by 4% and extended annual dividend growth guidance of 4-6% through 2031

“During the third quarter, our utilities executed key capital investments while advancing strategic growth initiatives across our portfolio, including a competitive transmission project at ITC and the Tilbury 1B and Phase 2 LNG expansion projects at FortisBC,” said David Hutchens, President and Chief Executive Officer, Fortis. “Today, we are introducing our new $32.2 billion five-year capital plan, the largest in Fortis history, which reflects the critical investments required to deliver safe, reliable and resilient energy service to our customers. With a strong pipeline of regulated investment opportunities and a proven track record of execution, we are well positioned to deliver sustained rate base growth and 4-6% annual dividend growth through 2031.”

Fortis Inc.