EMA FINANCIAL STATEMENTS

Emera Inc. — balance sheet, income statement and cash flow trends

EMAEmera Inc.

🇨🇦 Canada · TO · Utilities · Utilities - Regulated Electric

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue8.1 B C$+3.1%

Gross Profit1.4 B C$-58.3%

Operating Income1.3 B C$-19.9%

EBITDA2.9 B C$-4.2%

Net Income1.1 B C$+13.5%

Peer Comparison· Utilities - Regulated Electric

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
EMA	3.1%	17.7%	36.1%	13.2%
PNW	4.8%	40.7%	40.0%	12.0%
LNT	8.3%	38.0%	46.4%	18.6%
EVRG	2.4%	41.5%	46.0%	14.7%
CMS	13.3%	40.8%	36.6%	12.5%
OGE	4.1%	48.8%	40.0%	14.0%
Industry median	7.9%	40.7%	40.4%	13.6%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity14.2 B C$30%
Current Liabilities6.2 B C$13%
Long-term Liabilities27.7 B C$58%

Key Figures

YoY change

Total Assets48.1 B C$+10.2%

Total Liabilities33.9 B C$+13.3%

Total Equity14.2 B C$+3.4%

Cash & ST Investments2.5 B C$+701.9%

Total Debt24 B C$+19.3%

Net Debt21.5 B C$+8.7%

Peer Comparison· Utilities - Regulated Electric

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
EMA	1.07	168.8%	7.34	29.5%
PNW	0.60	214.2%	6.93	23.0%
LNT	0.69	159.5%	5.72	29.9%
EVRG	0.45	156.3%	5.75	29.5%
CMS	0.84	201.5%	5.82	23.5%
OGE	0.66	118.7%	4.49	34.1%
Industry median	0.78	161.2%	5.63	28.1%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow1.8 B C$-33.8%

Capital Expenditures3.7 B C$+12.6%

Free Cash Flow-1.8 B C$—

Dividends Paid-664 M C$-207.6%

Peer Comparison· Utilities - Regulated Electric

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
EMA	22.7%	-22.8%	45.5%	171.8%
PNW	30.0%	-18.2%	48.2%	250.5%
LNT	29.1%	-23.2%	100.6%	156.9%
EVRG	32.7%	-18.3%	51.0%	222.0%
CMS	22.0%	-23.1%	45.1%	175.2%
OGE	39.7%	29.9%	41.8%	283.0%
Industry median	29.1%	-9.0%	44.9%	208.0%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 3, 26. This content is for informational purposes only and is not investment advice.