HALIFAX - Emera Incorporated ('Emera' or the 'Company') (TSX: EMA) announced today that it has completed its bought deal offering of 9,000,000 Cumulative Redeemable First Preferred Shares, Series L (the 'Series L Preferred Shares') at a price of $25.00 per share for aggregate gross proceeds of $225,000,000.

The syndicate of underwriters was led by TD Securities Inc. and CIBC Capital Markets as joint bookrunners, and also included RBC Capital Markets, Scotiabank, BMO Capital Markets and National Bank Financial Inc. The Series L Preferred Shares will be listed on the Toronto Stock Exchange under the symbol EMA.PR.L. The net proceeds of the offering will be used for general corporate purposes.

The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from 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. including statements concerning Emera's intended use of the net proceeds of the offering of preferred shares. Undue reliance should not be placed on this forward looking information, which applies only as of the date hereof. 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 Financial Risks and Uncertainties' in the notes to Emera's annual financial statements, copies of which are available electronically under Emera's profile on SEDAR at www.sedar.com.

About Emera

Emera is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia with approximately $31 billion in assets and 2020 revenues of more than $5.5 billion. The Company primarily invests in 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 four Caribbean countries. 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, EMA.PR.F, EMA.PR.H and EMA.PR.J. 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.

Contact:

Dave Bezanson

Tel: 902 474 2126

Email: dave.bezanson@emera.com

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