Fortis Inc 2025年度报告

Indicate by check mark whether the Registrant (1)has filed all reports required to be filed by Section13 or15(d) of the Exchange Actduring the preceding 12months (orfor such shorter period that the Registrant was required to file such reports) and (2)has been Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Yes☒No☐ Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act. Emerging growth company☐ If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if theregistrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† † The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards Board toits Accounting Standards Codification after April 5, 2012. Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered If securities are registered pursuant to Section 12(b) of the Exchange Act, indicate by check mark whether the financial statements ofthe registrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ EXPLANATORY NOTE Fortis Inc. (the "Corporation" or "Fortis") is a Canadian issuer eligible to file its annual report pursuant to Section13 of the Securities Exchange Act of 1934, as amended (the"Exchange Act"), on Form40-F pursuant to the multi-jurisdictional disclosuresystem of the Exchange Act. The Corporation is a "foreign private issuer" as defined in Rule405 under theSecurities Act of 1933, asamended. Equity securities of the Corporation are accordingly exempt from Sections14(a), 14(b), 14(c), 14(f) and16 of the ExchangeAct pursuant to Rule3a12-3. However, the recent enactment of theHolding Foreign Insiders Accountable Actwill require directorsand officers of foreign private issuers to comply with the insider reporting rules under Section 16(a) of the Exchange Act. As a result, FORWARD LOOKING INFORMATION The Corporation includes forward-looking information in this Annual Report on Form 40-F and the exhibits attached hereto(the "Form 40-F") within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning ofthe U.S.Private Securities Litigation Reform Act of 1995(collectively referred to as "forward-looking information"). Forward-lookinginformation reflects expectations of the Corporation's management regarding future growth, results of operations, performance,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 that long-term growth in rate base will drive earnings that support dividend growth guidance of 4-6% annually through 2030; expectednature, timing and benefits of additional opportunities to expand and extend growth beyond the capital plan, including further expansion of the electric transmission grid in the U.S. to support load growth and facilitate the interconnection of new energyresources, transmission investments associated with the Midcontinent Independent System Operator ("MISO") long range transmissionplan ("LRTP") as well as regional transmission in New York, grid resiliency and climate adaptation investments, investments inrenewable gas and liquefied natural gas ("LNG") infrastructure in British Columbia, and energy infrastructure investments to supportthe acceleration of load growth; the expectation that the Corporation is positioned well for future investment opportunities; thepotential for competition to the transmission business and/or challenges to existing right of first refusal statutes applicable to thetransmission business to restrict future growth; the potential for changes to government energy policies to impact the competitivenessof natural gas relative to other energy sources; Tucson Electric Power's ("TEP") plans to convert Springerville Units 1 and 2 from coal-fired generation to natural gas fired generation by 2030; planned in-service dates and expected capacity of various renewable resourcesof TEP; expected approach