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Investor Presentaiton

Strong Track Record of Rate Base and EPS Growth 2011-2016 Rate Base ($ billions (¹)) Adjusted Earnings Per Share ($ millions) Rate base Rate base excluding acquisitions of U.S. subsidiaries $24.3 5-Year CAGR ~25% $6.9 ~7% 5-Year CAGR 7.1% $2.33 $16.4 $2.11 $14.0 10% $6.1 $5.5 $1.65 $1.72 $1.70 $1.75 $4.5 21% $10.2 $8.7 $1.0 $8.1 3% 4% -1% $10.9 $11.3 $8.1 $8.7 $9.2 $9.5 2011 2012 2013 2014 2015 2016 2011 2012 2013 2014 2015 2016 Change (%) Regulated - Independent Electric Transmission (ITC) Regulated U.S. Electric & Gas - Regulated Canadian & Caribbean Electric & Gas (1) US dollar-denominated rate base converted at the historical USD/CAD exchange rates as reported in the respective filed annual reports. FORTIS 7
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