Emera (EMA) Investor presentation summary

Company overview and strategy

• Operates high-quality regulated utilities in Florida, Atlantic Canada, and the Caribbean, serving 2.1 million customers and managing $45B in assets as of 2025.

• Focuses on safe, clean, and reliable energy delivery, with ~80% of its $20B 2026–2030 capital plan concentrated in Florida.

• Targets 7–8% rate base CAGR and 5–7% average annual adjusted EPS growth through 2030, with 19 consecutive years of dividend growth.

• 95% of adjusted net income comes from regulated investments, providing steady and predictable performance.

Financial highlights and objectives

• Forecasts 7–8% rate base growth and 5–7% adjusted EPS CAGR through 2030, using 2024 EPS of $2.94 as the base year.

• Maintains a 1–2% annual dividend growth target, with a 4.3% dividend yield and 19 years of consecutive increases.

• Aims for sustainable improvement in credit metrics, with investment-grade ratings from Moody’s, S&P, and Fitch.

• Capital plan of $20B (2026–2030) is funded through reinvested cash flows, equity, asset sales, securitization, and net debt issuance.

Operational and regional performance

• Florida utilities (Tampa Electric, Peoples Gas, SeaCoast) generate ~72% of adjusted net income and are the main growth drivers.

• Tampa Electric has ~1,500 MW of solar in service, with plans to reach 1,665 MW by end of 2026; Peoples Gas is Florida’s largest natural gas distributor.

• Nova Scotia Power is leading a clean energy transition, investing $1.3B in reliability and targeting 80% renewable electricity by 2030.

• Caribbean operations focus on Barbados Light & Power, with recent divestitures of New Mexico Gas and Grand Bahama Power.