Mr. David Lebeter reports

HYDRO ONE LIMITED ANNOUNCES SEARCH FOR A NEW CHIEF FINANCIAL OFFICER AS CHRIS LOPEZ INTENDS TO STEP DOWN ON JUNE 30, 2024

Chris Lopez intends to step down as executive vice-president and chief financial and regulatory officer of Hydro One Ltd., to pursue other opportunities as of June 30, 2024. The company will now embark on an internal and external search for his replacement.

"On behalf of Hydro One, I want to thank Chris for his contributions to the company," said David Lebeter, president and chief executive officer, Hydro One. "Since joining the company in 2016, Chris has built a strong team and has overseen significant improvements in equity and bond investor confidence, share price performance, and productivity savings to deliver greater value for our customers."

"While it was a difficult decision to step down from this incredible company, I am proud of what we have accomplished over the past seven years," said Mr. Lopez, executive vice-president and chief financial and regulatory officer, Hydro One. "Hydro One is a financially strong, stable and productive company that is well positioned to build the grid of the future. I am especially proud that we were the first utility in Canada to publish a sustainable financing framework to align our funding goals with our sustainability strategy."

Mr. Lopez will remain in his position as executive vice-president and chief financial and regulatory officer while the search for his replacement is under way.

About 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 builds and maintains 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.

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