it will do for an apology however I would post it to notebook as there are more options for correction there, I hope it all works out fine

The English in your email is good. In the United States, in our culture, this email would be too long. Your basic decision is whether or not to send your boss an apology at all. How big was the meeting? Do you know whether he noticed that you were absent? I would not give much detail on the reasons for your delay. I certainly would not mention sleeping too late! I understand why you "hope this incident will not reflect negatively on me." There's no point in saying so; either it will or it won't. Saying you hope it won't isn't likely to change anything. Don't say "I know your time is valuable," show him that you know it is valuable by keeping your email as short as possible. An important detail, if possible, would be to say exactly what you will do to compensate for having missed the meeting. If you have a good answer for that, include it. I would suggest something like this: Dear Mr. Fred Wilson I am sorry that I missed the meeting on February 15th, 2018. I was delayed three hours by bad weather and car trouble. It won't happen again. Lois has given me copies of her notes and the handouts, and is going to fill me in on what I missed. Best regards [or whatever you would use as a normal close] Esra'a Alkhalila (In the United States we would capitalize "Alkahalila," if it is your surname).

There are a few issues with the English. It does seem however, the email should simply accept fault. . Do you want corrections to the English, or suggestions on how to approach the problem? If the latter, which culture is the boss from? :)