Mr. David Lebeter reports

MEMBERS OF THE SOCIETY OF UNITED PROFESSIONALS RATIFY COLLECTIVE AGREEMENT

Society of United Professionals' members have ratified the tentative agreement reached on Jan. 12, 2026. The new agreement will take effect retroactively from Oct. 1, 2025, to March 31, 2028, and covers employees in engineering, supervisory and other professional roles, across Hydro One's operations in Ontario.

"Thank you to the Society leadership and the bargaining teams for their efforts to reach a fair and balanced outcome," said David Lebeter, president and chief executive officer, Hydro One. "This agreement recognizes the important contributions of our employees while ensuring we remain focused on delivering value and reliability for our customers."

About Hydro One Ltd.

Hydro One, through its wholly owned subsidiaries, is Ontario's largest electricity transmission and distribution provider with 1.5 million valued customers, $36.7-billion in assets as at Dec. 31, 2024, and annual revenues in 2024 of $8.5-billion.

Its team of 10,100 skilled and dedicated employees proudly build and maintain a safe and reliable electricity system, which is essential to supporting strong and successful communities. In 2024, Hydro One invested $3.1-billion in its transmission and distribution networks, and supported the economy through buying $2.9-billion of goods and services.

It is committed to the communities where it lives and works through community investment, sustainability and diversity initiatives.

Hydro One Ltd.'s common shares are listed on the Toronto Stock Exchange, and certain of Hydro One Inc.'s medium-term notes are listed on the New York Stock Exchange.

We seek Safe Harbor.