Recent Updates — FRTSF

Fortis Inc. reported third-quarter net earnings attributable to common equity shareholders of $474 million, or $0.92 per share, up from $0.81 in the prior year period. The company declared a fourth-quarter common share dividend of $0.665 per share, representing a 4% increase over the previous quarter's payout. Fortis also announced a new five-year capital plan totaling $32.2 billion for 2027-2031, which is $3.4 billion higher than the prior forecast and supports an expected rate base growth of 7.5%. The firm operates as a diversified leader in the North American regulated electric and gas utility industry.

Fortis Inc. filed an underwriting agreement to sell US$500,000,000 principal amount of fixed-to-fixed rate junior subordinated notes due in 2057. The offering consists of two tranches: US$500,000,000 of 6.625% notes (NC5 Notes) and US$500,000,000 of 6.875% notes (NC10 Notes). Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., Wells Fargo Securities, LLC, and BofA Securities, Inc. are acting as representatives for the underwriters. The securities will be issued pursuant to supplemental indentures dated September 9, 2026, with a closing date of September 21, 2026. Fortis Inc. operates in the regulated electric and gas utility industry.