 ST. JOHNS, Newfoundland and Labrador, June 01, 2020 GLOBE NEWSWIRE -- Fortis Inc. Fortis or the Corporation FTS.TO announced today that 267,341 of its 7,024,846 issued and outstanding Cumulative Redeemable Five-Year Fixed Rate Reset First Preference Shares, Series H Series H Shares were tendered for conversion, on a one-for-one basis, into Cumulative Redeemable Floating Rate First Preference Shares, Series I Series I Shares and that 907,577 of its 2,975,154 Series I Shares were tendered for conversion, on a one-for-one basis, into Series H Shares. As a result of the conversion, Fortis has 7,665,082 Series H Shares and 2,334,918 Series I Shares issued and outstanding. The Series H Shares will pay on a quarterly basis, for the five-year period beginning on June 1, 2020, if, as and when declared by the Board of Directors of Fortis, a fixed dividend based on an annual fixed dividend rate of 1.835 percent. 