Fortis Inc.

- Fortis Inc.'s capital plan is expected to be funded largely from cash from operations, utility debt, and the dividend reinvestment plan. - The company's $500 million ATM (at-the-market) equity program remains available but has not been utilized to date, providing funding flexibility if needed. - In the first quarter, utilities issued $800 million of long-term debt. - In April, ITC Holdings issued USD 900 million of unsecured notes with proceeds expected to repay maturing debt and short-term borrowings. - The company continues to maintain strong investment-grade credit ratings and sufficient liquidity to support its funding plan.

- Fortis invested $1.4 billion of capital in Q1 2026, with a $5.6 billion plan for 2026. - ITC Midwest’s MISO LRTP Tranche 2.1 projects: $3.3 to $3.8 billion investment beyond 2030 for awarded non-competitive projects. - TEP: 300 MW data center load growth under an approved energy supply agreement, ramping up 2027-2029. - Potential new generation investment of USD 1.5 to 2 billion if Phase II data center capacity agreements finalize at TEP. - Transmission upgrade work underway at Big Cedar Industrial Center to support 300 MW initial load and an additional 1,600 MW by 2028. - Springville Generating Station coal-to-gas conversion approved to extend life and improve affordability/reliability. - Fortis Alberta exploring timely interconnection of smaller data center loads amid ISO’s 1,200 MW cap. - ITC actively evaluating competitive bidding opportunities and seeking regulatory changes to expedite transmission projects.

- Fortis expects average annual rate base growth of 7% through 2030, supporting future revenue increases. - Significant load growth from data centers, including 300 MW already contracted at TEP and potential expansions up to 600 MW and additional 500-700 MW at a second site. - ITC anticipates USD 3.3 to 3.8 billion of transmission investments beyond 2030, linked to awarded projects advancing in MISO. - Data center developments in Arizona and Midwest underpin growth, with positive customer impact expected from these connections. - Opportunities for transmission expansion and generation investments aligned with incremental data center load growth. - Integrated resource planning in Arizona is underway, expected to generate new longer-term investment and growth opportunities. - First quarter 2026 saw $1.4 billion capital investments supporting ongoing growth initiatives.

- Fortis expects to continue driving meaningful shareholder value through execution of its 5-year capital plan. - The company targets 4% to 6% annual dividend growth through 2030, reflecting confidence in earnings growth. - First quarter 2026 earnings per share (EPS) were $0.99, aligned with expectations. - Capital investments and timing of operating costs contributed positively to EPS, especially in Western Canadian utilities and ITC. - There is an expectation of average annual rate base growth of 7% through 2030, supporting earnings growth. - Incremental growth opportunities, including significant data center load growth and transmission investments, provide upside potential. - Regulatory approvals and constructive rate case outcomes, such as at UNS Gas, support stable and growing earnings. - Dilutive impacts from dispositions and foreign exchange are noted but manageable within the growth outlook.

- At TEP, the initial 300 megawatts of data center load growth is underway with contracts and credit support in place, ramping up through 2027-2029. - Negotiations ongoing for an incremental 300 megawatts at the first site, potentially doubling capacity to 600 megawatts. - Additional 500-700 megawatt capacity negotiations for a second site near Tucson are active. - ITC is evaluating opportunities and preparing bids for competitively bid transmission projects in MISO and SPP regions. - ITC’s MISO LRTP portfolio projects include $3.3 to $3.8 billion of investment beyond 2030 for awarded projects not subject to bidding. - Phase 1 of Big Cedar Industrial Center substation completed supporting 300 MW data center growth; transmission upgrades underway to serve an additional 1,600 MW by 2028. - Fortis Alberta actively discussing interconnection of smaller data center loads following ISO’s 1,200 MW cap introduction, with coordination ongoing to facilitate timely connection.