This news release constitutes a "designated news release" for the purposes of the Corporation's prospectus supplement dated September 19, 2023 to its short form base shelf prospectus dated November 21, 2022.

ST. JOHN'S, Newfoundland and Labrador, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS) has declared the following dividends payable on March 1, 2024 to the Shareholders of Record of the following Shares of the Corporation at the close of business on February 16, 2024:

$0.3063 per share on the First Preference Shares, Series "F";
$0.3826875 per share on the First Preference Shares, Series "G";
$0.11469 per share on the First Preference Shares, Series "H";
$0.412055 per share on the First Preference Shares, Series "I";
$0.2969 per share on the First Preference Shares, Series "J";
$0.2455625 per share on the First Preference Shares, Series "K";
$0.2445625 per share on the First Preference Shares, Series "M"; and,
$0.59 per share on the Common Shares.

The Corporation has designated the common share dividend and preference share dividends as eligible dividends for federal and provincial dividend tax credit purposes. All amounts are given in Canadian dollars unless otherwise indicated.

About Fortis

Fortis is a well-diversified leader in the North American regulated electric and gas utility industry with 2022 revenue of $11 billion and total assets of $66 billion as at September 30, 2023. The Corporation's 9,200 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.

For more information, please 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

A .pdf version of this press release is available at: http://ml.globenewswire.com/Resource/Download/655be5bb-00a6-45bb-a6b7-db56b40a8ac2

Fortis Inc. Announces First Quarter Dividends – 2024