Fortis - FTS STOCK NEWS

Tucson Electric Power (TEP) has strongly criticized a draft Energy Sourcing Study conducted by GDS Associates for the City of Tucson, calling it "profoundly flawed." The study examines the possibility of creating a municipal utility through a takeover of TEP's local energy grid.

Key concerns highlighted by TEP:

• The study assumes unrealistic timeline of operations starting January 2028, despite likely decade-long litigation
• Ignores operational inefficiencies of splitting service areas
• Underestimates grid maintenance and upgrade costs
• Overlooks complexities of separating city-seized assets from TEP's system

TEP CEO Susan Gray warns that accepting the $300,000 study's recommendations could risk the community's future and increase electric bills. This comes as TEP currently serves 455,000 customers in Southern Arizona. The proposed municipal utility would serve about 250,000 customers within city limits.

The criticism emerges just after Tucson's Mayor and City Council approved a letter of intent to work with TEP on a new franchise agreement and clean energy supply agreement.

Fortis Inc (TSX/NYSE: FTS) has announced key upcoming investor events for May 2025. The company will release its first quarter 2025 financial results on Wednesday, May 7, 2025, followed by a teleconference and webcast at 8:30 a.m. (Eastern).

President and CEO David Hutchens, along with CFO Jocelyn Perry, will host the earnings discussion. Participants can join through various channels:

• Live webcast on Fortis website
• Toll-free call for North American financial community: 1.833.821.0229
• International call: 1.647.846.2371

Additionally, the company will hold its 2025 Annual Meeting of Shareholders on Thursday, May 8, 2025, at 9:00 a.m. (Eastern). The meeting will be conducted both in-person at the Fortis Energy Centre in St. John's, NL, and virtually through an online platform.

Fortis Inc. (TSX/NYSE: FTS) has announced the filing of its key financial and regulatory documents for the year ended December 31, 2024. The company has submitted its audited Consolidated Financial Statements, Management Discussion and Analysis, Form 40-F, and 2024 Annual Information Form with both Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission.

These documents are now accessible through multiple channels, including SEDAR+ for Canadian filings, the SEC website for U.S. filings, and the company's official website. The company also noted that its Management Information Circular for the upcoming Annual Meeting of Shareholders is expected to be distributed to shareholders in late March.

Fortis Inc. (TSX/NYSE: FTS) reported strong financial results for 2024, with annual net earnings of $1.6 billion, or $3.24 per common share. The company achieved adjusted net earnings per share of $3.28, representing a 6% growth from 2023's $3.09.

Key highlights include $5.2 billion in capital expenditures, yielding 6% annual rate base growth, and a 4.2% increase in fourth quarter common share dividend, marking 51 consecutive years of dividend increases. The company completed the Wataynikaneyap Transmission Power project, connecting 17 First Nations communities to the Ontario power grid.

Fortis announced a $26 billion five-year capital plan through 2029, which is $1.0 billion higher than the previous plan. The company expects this investment to increase its midyear rate base from $39.0 billion in 2024 to $53.0 billion by 2029, representing a 6.5% compound annual growth rate. The plan will be funded primarily through operations cash flow and regulated utility debt.

Fortis Inc. (TSX/NYSE: FTS) has announced its second quarter dividends for 2025. The Board of Directors has declared dividends payable on June 1, 2025, to shareholders of record as of May 16, 2025. The dividend schedule includes payments for various series of First Preference Shares, ranging from $0.11469 to $0.3826875 per share, and a common share dividend of $0.615.

The dividends have been designated as eligible for federal and provincial dividend tax credit purposes. All amounts are in Canadian dollars. This announcement is incorporated as a Designated News Release in the company's prospectus supplement dated December 9, 2024.

Fortis Inc. (TSX/NYSE: FTS) has announced it will release its 2024 financial results on Friday, February 14, 2025. The company will host a teleconference and webcast at 8:30 a.m. (Eastern) on the same day. David Hutchens, President and CEO, and Jocelyn Perry, Executive VP and CFO, will lead the discussion of the annual financial results.

Shareholders, analysts, media, and other interested parties can access the live webcast through the company's website. Financial community members from Canada and the US can participate toll-free, while international participants have a separate dial-in number. Pre-registration is available for the call, providing participants with direct calendar access and bypass of the operator queue. A replay of the teleconference will be available until March 14, 2025.

Fortis Inc. (TSX/NYSE: FTS) has announced it will release its 2024 financial results on Friday, February 14, 2025. The company will host a teleconference and webcast at 8:30 a.m. (Eastern) on the same day. David Hutchens, President and CEO, and Jocelyn Perry, Executive VP and CFO, will lead the discussion of the annual financial results.

Shareholders, analysts, media, and other interested parties can access the live webcast through the company's website. Financial community members from Canada and the US can participate toll-free at 1.844.763.8274, while international participants can call 1.647.484.8814. Pre-registration is available for the call, providing participants with direct dial-in details. A replay will be available until March 14, 2025.

Fortis Inc. (TSX/NYSE: FTS) announced changes to its Board of Directors. Lisa Crutchfield will resign from the board effective December 31, 2024, and Gregory Knight will fill the vacancy starting January 1, 2025. Knight brings significant utility sector experience, having served as Executive Vice President of Customer Transformation and Business Services at CenterPoint Energy, and Chief Customer Officer at National Grid USA Service Company. The announcement was made as a Designated News Release, incorporated into Fortis' prospectus supplement dated December 9, 2024.

Fortis Inc. (TSX/NYSE: FTS) announced the renewal of its at-the-market equity program (ATM Program), allowing the issuance of up to C$500,000,000 (or US dollar equivalent) in common shares. The shares will be sold through the TSX and NYSE at prevailing market prices, with the program effective until January 10, 2027. The ATM Program provides additional financing flexibility for Fortis's capital program, with proceeds intended for general corporate purposes. The distribution will be managed through an equity distribution agreement with several major financial institutions acting as Canadian and US agents.