Fortis Inc. Announces Closing of Offering of Senior Unsecured Notes

Not for distribution to United States news wire services or dissemination in the United States.

ST. JOHN'S, Newfoundland and Labrador, May 31, 2022 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (TSX: FTS) announced today that it has closed its offering (the "Offering") of $500,000,000 aggregate principal amount of 4.431% senior unsecured notes due May 31, 2029 (the "Notes"). The Offering was made to the public through a syndicate of agents co-led by BMO Nesbitt Burns Inc., CIBC World Markets Inc. and Scotia Capital Inc., and including TD Securities Inc., RBC Dominion Securities Inc., Desjardins Securities Inc., National Bank Financial Inc., Merrill Lynch Canada, Inc., Morgan Stanley Canada Limited, MUFG Securities (Canada), Ltd. and Wells Fargo Securities Canada, Ltd.

The Notes have not been and will not be 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 an invitation to purchase or subscribe for any securities in the United States or in any other jurisdiction where such offer is unlawful.

About Fortis
Fortis is a well-diversified leader in the North American regulated electric and gas utility industry, with 2021 revenue of $9.4 billion and total assets of $58 billion as at March 31, 2022. The Corporation's 9,100 employees serve utility customers in five Canadian provinces, nine U.S. states and three Caribbean countries.

Fortis' shares are listed on the Toronto Stock Exchange and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedar.com or www.sec.gov.

Not for distribution to United States news wire services or dissemination in the United States.

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