Fortis Inc. Shareholders Approve Election of Directors, Appointment of Auditors, and Say on Pay

Fortis Inc. (TSX/NYSE: FTS) held its Annual Meeting of Shareholders where all proposed items were approved by shareholders.

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Fortis Inc. (TSX/NYSE: FTS) held its Annual Meeting of Shareholders where all proposed items were approved by shareholders. The meeting resulted in the election of 12 directors to the Board, with all nominees receiving strong approval ratings ranging from 95.62% to 99.49%. Shareholders also approved the appointment of Deloitte LLP as auditors with 99.46% support, and passed a non-binding advisory vote on executive compensation with 94.19% approval.

Fortis, a leading North American regulated electric and gas utility company, reported $12 billion in revenue for 2024 and total assets of $75 billion as of March 31, 2025. The company employs 9,800 people and serves utility customers across five Canadian provinces, ten U.S. states, and three Caribbean countries.

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ST. JOHN'S, Newfoundland and Labrador, May 08, 2025 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE: FTS) announced the voting results from its Annual Meeting of Shareholders held today. Shareholders voted in favour of all items of business before the meeting, including electing the nominated directors, appointing Deloitte LLP as the Corporation's auditors, and approving the non-binding advisory vote regarding the Corporation's approach to executive compensation.

Election of Directors

Fortis shareholders elected the following 12 individuals to the Board to serve until the next Annual Meeting of Shareholders or until their successors are elected or appointed:

Nominee	# Votes For	% Votes For	# Votes Withheld	% Votes Withheld
Tracey C. Ball	286,660,945	98.65	3,928,062	1.35
Pierre J. Blouin	286,077,913	98.45	4,511,105	1.55
Lawrence T. Borgard	288,721,236	99.36	1,867,782	0.64
Maura J. Clark	286,893,509	98.73	3,695,499	1.27
Margarita K. Dilley	288,494,681	99.28	2,091,092	0.72
Julie A. Dobson	277,864,211	95.62	12,724,807	4.38
Lisa L. Durocher	287,866,735	99.06	2,722,282	0.94
David G. Hutchens	288,789,300	99.38	1,799,717	0.62
Gregory E. Knight	289,097,301	99.49	1,491,717	0.51
Gianna M. Manes	285,627,445	98.29	4,961,572	1.71
Don R. Marchand	287,961,640	99.10	2,627,378	0.90
Jo Mark Zurel	282,000,698	97.04	8,588,320	2.96

Appointment of Auditors

Shareholders of the Corporation approved the appointment of Deloitte LLP as the Corporation's auditors to hold office until the close of the next Annual Meeting of Shareholders.

# Votes For	% Votes For	# Votes Withheld	% Votes Withheld
295,397,407	99.46	1,618,420	0.54

Say on Pay

Shareholders approved the non-binding advisory vote regarding the Corporation's approach to executive compensation ("Say on Pay").

# Votes For	% Votes For	# Votes Against	% Votes Against
273,716,820	94.19	16,872,191	5.81

About Fortis
Fortis is a well-diversified leader in the North American regulated electric and gas utility industry, with 2024 revenue of $12 billion and total assets of $75 billion as at March 31, 2025. The Corporation's 9,800 employees serve utility customers in five Canadian provinces, ten U.S. states and three Caribbean countries.

Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedarplus.ca, or www.sec.gov.

A .pdf version of this press release is available at: http://ml.globenewswire.com/Resource/Download/a9eedc3a-7516-4549-9a48-7952f30bbdfb

For further information contact

Investor Enquiries: Ms. Stephanie Amaimo Vice President, Investor Relations Fortis Inc. 248.946.3572 investorrelations@fortisinc.com

Media Enquiries: Ms. Karen McCarthy Vice President, Communications & Government Relations Fortis Inc. 709.737.5323 media@fortisinc.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What was the outcome of Fortis Inc.'s (FTS) 2025 Annual Meeting of Shareholders?

All items were approved, including the election of 12 directors, appointment of Deloitte LLP as auditors (99.46% approval), and a Say on Pay advisory vote (94.19% approval).

How many directors were elected to Fortis Inc.'s (FTS) Board in the 2025 shareholder meeting?

12 directors were elected to the Fortis Inc. Board, with approval ratings ranging from 95.62% to 99.49%.

What are Fortis Inc.'s (FTS) key financial metrics as of 2024-2025?

Fortis reported revenue of $12 billion for 2024 and total assets of $75 billion as of March 31, 2025.

What was the result of Fortis Inc.'s (FTS) Say on Pay vote in 2025?

The Say on Pay advisory vote was approved with 94.19% of shareholders voting in favor of the company's approach to executive compensation.