Mr. David Lebeter reports

HYDRO ONE AND THE POWER WORKERS' UNION REACH TENTATIVE SETTLEMENT

Hydro One Inc. has reached tentative settlements for two collective agreements with the Power Workers' Union (PWU) covering employees in front-line roles across the company's operations in Ontario.

"Hydro One is pleased to reach these two tentative agreements, and I want to thank our respective teams for negotiating in an open and productive way to reach this outcome," said David Lebeter, Hydro One president and chief executive officer. "The PWU represents critical front-line roles who provide exceptional customer service, and contribute to delivering safe and reliable electricity to communities across the province."

Negotiations covered the renewal of two collective agreements: the main collective agreement, which includes front-line staff, and the customer service operations collective agreement, which includes staff in customer-facing roles.

Union members will vote on these tentative agreements with the outcome anticipated by the end of July. Once ratified, these agreements will be in effect until Sept. 30, 2025.

Hydro One Ltd.

Hydro One, through its wholly owned subsidiaries, is Ontario's largest electricity transmission and distribution provider with approximately 1.5 million valued customers, approximately $31.5-billion in assets as at Dec. 31, 2022, and annual revenues in 2022 of approximately $7.8-billion.

Hydro One's team of approximately 9,300 skilled and dedicated employees proudly build and maintain a safe and reliable electricity system which is essential to supporting strong and successful communities. In 2022, Hydro One invested approximately $2.1-billion in its transmission and distribution networks, and supported the economy through buying approximately $1.9-billion of goods and services.

The company is committed to the communities where it lives and works through community investment, sustainability and diversity initiatives. Hydro One is designated as a Sustainable Electricity Leader by Electricity Canada.

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