ITC Holdings Corp. (ITC Holdings) is a holding company whose business consists primarily of the operations of its Regulated Operating Subsidiaries, International Transmission Company (ITCTransmission), Michigan Electric Transmission Company, LLC (METC) and ITC Midwest LLC (ITC Midwest). Through its Regulated Operating Subsidiaries, the Company is engaged in the transmission of electricity in the United States. The Company’s Regulated Operating Subsidiaries’ transmission facilities are located in the lower peninsula of Michigan and portions of Iowa, Minnesota, Illinois and Missouri, and have agreements with other utilities for the joint ownership of specific substations and transmission lines. The Company also has other subsidiaries focused primarily on business development activities, and a holding company whose activities include corporate debt and equity financings and general corporate activities.