Fortis has established a corporate-wide Scope 1 carbon emissions reduction target of 75% by 2035 with a 2019 base year. This target builds on our existing low emissions profile and aligns with the goals of the Paris Agreement. It exceeds the pace of reduction outlined in the two-degree Celsius pathway and does not include the use of carbon offsets. Our target represents avoided emissions equivalent to taking approximately two million cars off the road in 2035 compared to 2019 levels.

In 2021, Fortis' Scope 1 emissions were 20% lower relative to 2019 levels, marking significant progress towards our 75% target. Upon achieving our target, we expect 99% of our assets will be focused on energy delivery and renewable, carbon-free generation.

Our commitments are helping us forge a path towards being a strong and reliable global partner in combatting climate change.

Forward-Looking Information
Fortis includes forward-looking information in this document within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (collectively referred to as "forward-looking information"). Forward-looking information reflects expectations of Fortis management regarding future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as anticipates, believes, budgets, could, estimates, expects, forecasts, intends, may, might, plans, projects, schedule, should, target, will, would and the negative of these terms and other similar terminology or expressions have been used to identify the forward-looking information, which includes, without limitation, the Corporation's 2035 carbon emissions reduction target and projected asset mix.

Forward-looking information involves significant risks, uncertainties and assumptions. Certain material factors or assumptions have been applied in drawing the conclusions contained in the forward-looking information. These factors or assumptions are subject to inherent risks and uncertainties surrounding future expectations generally, including those identified from time to time in the forward-looking information. Such assumptions include, but are not limited to: reasonable outcomes for regulatory proceedings and the expectation of regulatory stability; the successful execution of the capital expenditure plan; no material impact from the COVID-19 pandemic; and no significant changes in government energy plans, environmental laws and regulations that could have a material negative impact. Fortis cautions readers that a number of factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking information. These factors should be considered carefully and undue reliance should not be placed on the forward-looking information. For additional information with respect to certain of these risks or factors, reference should be made to the continuous disclosure materials filed from time to time by the Corporation with Canadian securities regulatory authorities and the Securities and Exchange Commission. All forward-looking information herein is given as of the date of this document. Fortis disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.