Investor Presentaiton

INDICATIVE TIMELINE TO OBTAIN REGULATORY APPROVALS AND CLOSE Q3 2015 Merger announcement Q4 2015 TECO shareholder approval O Vote December 3, 2015 Q1 2016 Mid 2016 Initiate regulatory filings in New Mexico and with U.S. federal regulatory agencies¹ New Mexico and applicable U.S. federal regulatory approvals O FERC Application filed October 5, 2015 O New Mexico Application filed October 19, 2015 • New Mexico pre-hearing conference scheduled December 10, 2015 File proxy statement Develop and initiate transition implementation plans 14 Note: Emera shareholder vote is not required 1 U.S. federal approval required from FERC; filings required under HSR and with CFIUS Expected transaction close Emera

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