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News Release

TECO Energy schedules special shareholder meeting on proposed acquisition by Emera Inc.

TAMPA, October 22, 2015

TECO Energy Inc. (NYSE: TE) has scheduled a special meeting of its shareholders to vote on the proposed acquisition by Emera Inc.

The proposed acquisition is subject to TECO Energy shareholder approval, regulatory approvals and certain other customary closing conditions.

The special meeting of shareholders will be held at TECO Energy’s corporate headquarters at 702 N. Franklin St. in Tampa at 2 p.m. Eastern Time on Dec. 3. Shareholders of record as of the close of business on Oct. 21 will be entitled to vote at the special meeting.

TECO Energy Inc. (NYSE: TE) is an energy-related holding company with regulated electric and gas utilities in Florida and New Mexico. Tampa Electric serves more than 715,000 customers in West Central Florida; Peoples Gas System serves more than 360,000 customers across Florida; and New Mexico Gas Co. serves more than 515,000 customers across New Mexico.

Additional Information and Where to Find It

The proposed transaction will be submitted to shareholders of TECO Energy for their consideration at a special meeting to be held on Dec. 3, 2015. In connection with the proposed transaction, on Oct. 22, TECO Energy filed a definitive proxy statement and a form of proxy card with the U.S. Securities and Exchange Commission (SEC) in connection with the solicitation of proxies for the special meeting. TECO Energy anticipates that the definitive proxy statement and a proxy card will be mailed to TECO Energy shareholders of record as of Oct. 21, the record date fixed by the TECO Energy’s board of directors for the special meeting, beginning on or about Oct. 23. This communication is not a substitute for the definitive proxy statement.

TECO ENERGY SHAREHOLDERS ARE ADVISED TO READ THE DEFINITIVE PROXY STATEMENT CAREFULLY AND IN ITS ENTIRETY BECAUSE THE DEFINITIVE PROXY STATEMENT CONTAINS IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The definitive proxy statement and other relevant documents filed by TECO Energy with the SEC, when filed, are available free of charge at the SEC’s website (www.sec.gov), at TECO Energy’s website at www.tecoenergy.com or by sending a written request to TECO Energy Inc., Corporate Secretary, P.O. Box 111, Tampa, FL 33602.

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