Emera Completes $700 Million Common Share Financing

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES.

HALIFAX, Nova Scotia–(BUSINESS WIRE)–Emera Incorporated ("Emera") (TSX:EMA) announces today that it has
completed its bought deal offering of 14,614,000 common shares (the
“Common Shares”) at $47.90 per Common Share for aggregate gross proceeds
of approximately $700 million (the “Offering”). The syndicate of
underwriters was led by RBC Capital Markets, CIBC Capital Markets,
Scotiabank and TD Securities Inc., as joint bookrunners, and also
included BMO Capital Markets, National Bank Financial Inc., Credit
Suisse Securities (Canada) Inc., Industrial Alliance Securities Inc. and
Raymond James Ltd.

The net proceeds of the Offering will be used to support the company’s
recently announced growth initiatives and for general corporate
purposes, including to reduce indebtedness outstanding under the
company’s credit facility and to fund other ordinary course capital
expenses.

The Common Shares have not been registered under the U.S. Securities Act
of 1933, as amended, and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements. This media release shall not constitute an offer to sell
or the solicitation of an offer to buy, nor shall there be any offer,
solicitation or sale of the securities in any province, state or
jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward Looking Information

This news release contains forward-looking information within the
meaning of applicable securities laws. By its nature, forward-looking
information requires Emera to make assumptions and is subject to
inherent risks and uncertainties. These statements reflect Emera
management’s current beliefs and are based on information currently
available to Emera management. There is a risk that predictions,
forecasts, conclusions and projections that constitute forward-looking
information will not prove to be accurate, that Emera’s assumptions may
not be correct and that actual results may differ materially from such
forward-looking information. Additional detailed information about these
assumptions, risks and uncertainties is included in Emera’s securities
regulatory filings, including under the heading “Enterprise Risk and
Risk Management” in Emera’s annual Management’s Discussion and Analysis,
and under the heading “Principal Risks and Uncertainties” in the notes
to Emera’s annual and interim financial statements, which can be found
on SEDAR at www.sedar.com.

About Emera Inc.

Emera Inc. is a geographically diverse energy and services company
headquartered in Halifax, Nova Scotia with approximately $28 billion in
assets and 2016 revenues of more than $4 billion. The company invests in
electricity generation, transmission and distribution, gas transmission
and distribution, and utility energy services with a strategic focus on
transformation from high carbon to low carbon energy sources. Emera has
investments throughout North America, and in four Caribbean countries.
Emera continues to target achieving a minimum of 75% of its adjusted net
income from rate-regulated businesses. Emera’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, and
EMA.PR.F. Depositary receipts representing common shares of Emera are
listed on the Barbados Stock Exchange under the symbol EMABDR.
Additional Information can be accessed at www.emera.com
or at www.sedar.com.

Contacts

Emera
Ken McOnie, 902-428-6945
Vice President, Investor
Relations & Treasurer
[email protected]