Today we released our 2020 Sustainability Report, which details our commitment to protect the environment, ensure strong governance and to support our people and local communities.

Two of our largest utilities, Tucson Electric Power (“TEP”) and FortisBC, recently established ambitious emission reduction goals. TEP announced a target to reduce its carbon emissions by 80% by 2035.  Renewable generation will comprise more than 70% of TEP’s power by that time and TEP will have exited coal-fired electricity generation.  Upon retirement of TEP’s coal-fired electricity generation, Fortis will have a coal-free generation mix.

FortisBC’s 30BY30 goal is to reduce greenhouse gas emissions associated with customer energy use by 30% by 2030.  This target at FortisBC, which is primarily a natural gas distribution company, is one of the most ambitious reduction targets amongst Canadian utilities.

New in this year’s report, we include a breakdown of our capital expenditures to indicate the percentage of capital invested in resiliency, modernization and cleaner energy. More than 70% of the Fortis 2020 $4.3 billion capital plan is dedicated to asset resiliency, modernization and cleaner energy initiatives.

Additional 2020 Sustainability Report Highlights:

• Fortis and our utilities continue to deliver an essential service and successfully maintain reliable operations during the COVID-19 pandemic. Our focus is on employee safety and local community needs, ensuring all customers, including critical front-line essential workers, have the energy they need.
• We launched our inclusion and diversity framework in the past 12 months, which was marked by every Fortis utility CEO signing a declaration of their personal commitment to advance inclusion and diversity efforts.
• 40% of the Fortis Board elected in 2020 and three of our ten utility Presidents are female.
• Fortis donated more than $12 million in community investment in 2019.

Forward Looking Information

Fortis includes forward-looking information in this document within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (collectively referred to as "forward-looking information"). Forward-looking information reflects expectations of Fortis management regarding future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as anticipates, believes, budgets, could, estimates, expects, forecasts, intends, may, might, plans, projects, schedule, should, target, will, would and the negative of these terms and other similar terminology or expressions have been used to identify the forward-looking information, which includes, without limitation: TEP's carbon emission reduction target, 2035 generation mix, coal-fired generation retirements and associated benefits; FortisBC's 2030 GHG emission and renewable gas targets; and forecast capital expenditures for 2020.

Forward-looking information involves significant risks, uncertainties and assumptions. Certain material factors or assumptions have been applied in drawing the conclusions contained in the forward-looking information. These factors or assumptions are subject to inherent risks and uncertainties surrounding future expectations generally, including those identified from time to time in the forward-looking information. Such assumptions include, but are not limited to: no material impact from the COVID-19 pandemic; reasonable outcomes for regulatory proceedings and the expectation of regulatory stability; the successful execution of the capital expenditure plan; and no significant changes in government energy plans, environmental laws and regulations that could have a material negative impact. Fortis cautions readers that a number of factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking information. These factors should be considered carefully and undue reliance should not be placed on the forward-looking information. For additional information with respect to certain of these risks or factors, reference should be made to the continuous disclosure materials filed from time to time by the Corporation with Canadian securities regulatory authorities and the Securities and Exchange Commission. All forward-looking information herein is given as of the date of this document. Fortis disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.