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Through work with partners, residents and stakeholders, Hydro One accelerated timelines and reduced costs by approximately $30 million

CHATHAM-KENT, ON, January 13, 2025 – Today, Hydro One Networks Inc. (Hydro One) announced the completion of the Chatham to Lakeshore Transmission Line, one year ahead of schedule. The line was energized on December 17, 2024, and its early completion reduced the estimated project cost approved by the Ontario Energy Board (OEB) by approximately $30 million. It adds approximately 400 megawatts to the electricity network to support the local agri-food and manufacturing supply chain in southwest Ontario.

“This project is a shining example of what we can achieve when we collaborate and work together with Indigenous communities, the province, municipalities, residents and landowners to deliver critical electricity infrastructure projects,” said David Lebeter, President and Chief Executive Officer, Hydro One. “Electricity is the backbone of our economy. This line is the first of five new transmission lines in southwest Ontario that will support growth and security in our local supply chains and continue to make Ontario an attractive place to live and invest.”

Through Hydro One’s industry leading 50-50 equity partnership model, five First Nations have been offered the opportunity to invest in a 50 per cent equity stake in the transmission line component of the project.

Construction on the line began in spring 2023 and was carried out by Aecon Power Services Inc. (Aecon Power Services), a wholly-owned subsidiary of Aecon Group Inc. Aecon Power Services estimates that more than 100 jobs were created during construction and a significant portion of work included services and material purchased from qualified Indigenous businesses and suppliers. This is aligned with Hydro One's commitment to source five per cent of all purchases for materials and services from Indigenous businesses by 2026.

According to the Independent Electricity System Operator (IESO) electricity demand is predicted to increase approximately 75 per cent across Ontario by 2050. The 49-kilometre double-circuit, 230-kilovolt Chatham to Lakeshore Transmission Line is part of a network of Hydro One projects across the region. Together they are expected to support this demand as Hydro One electrifies Ontario’s economy and powers sustainable growth in communities across the province.

To learn more about the Chatham to Lakeshore Transmission Line, visit HydroOne.com/Chatham-to-Lakeshore.

Quotes

“Our government is powering the incredible growth in Southwestern Ontario with new transmission infrastructure – delivered a year ahead of schedule,” said Stephen Lecce, Minister of Energy and Electrification. “Our focus on ensuring access to reliable and affordable energy is key to ensuring businesses – including the new Stellantis-LGES battery plant, and the growing greenhouse sector remains competitive in the face of potential U.S. tariffs.”

"Today's announcement marks a significant milestone for Chatham-Kent-Leamington and all of southwest Ontario," said Trevor Jones, Member of Provincial Parliament (MPP) Chatham-Kent-Leamington. “The new transmission line from Chatham-Kent to Lakeshore is a transformative project that will create hundreds of good-paying jobs and provide a reliable foundation for clean energy development. This investment brings us closer to a prosperous future, ensuring our communities have the support and opportunities they need to thrive."

“Our government is committed to securing the reliable and affordable energy essential for rebuilding Ontario’s economy, keeping costs down for families, and supporting new home construction across the province,” said Anthony Leardi, MPP for Essex. “This project will not only deliver that dependable energy supply but also create good-paying jobs, bolster our world-class greenhouse sector, and fuel Ontario’s economic growth for years to come.”

“The Chatham to Lakeshore Line will provide the capacity we need to attract and expand local businesses and meet the evolving needs of our residents,” said Tracey Bailey, Mayor of the Municipality of Lakeshore. “We are proud to work with Hydro One and our neighbouring communities to deliver benefits to our region for years to come."

“We look forward to the benefits this new line will bring to our entire region,” said Darrin Canniff, Mayor of the Municipality of Chatham-Kent. “This critical infrastructure will enhance power reliability and boost economic growth and job creation in our community.”

"The food produced in Essex County creates jobs for local people and feeds Ontarians provincewide,” said Hilda MacDonald, Mayor, Municipality of Leamington and Warden of Essex County. “A clean, reliable source of energy that powers our agri-food sector benefits us all.”

“We’re incredibly proud of our contribution to completing the Chatham to Lakeshore Line a year ahead of schedule,” said Steve Jeffery, Senior Director, Operations, Aecon Power Services Inc. “This achievement is a testament to our close collaboration with Hydro One to deliver this critical project safely and efficiently.”

"The addition of this line has enabled us to land $623M in foreign direct investment in the WindsorEssex region in 2024," said Joe Goncalves, Interim CEO and Vice President, Investment Attraction & Strategic Initiatives, Invest WindsorEssex. "Economic growth cannot happen without access to reliable, resilient power. The Chatham to Lakeshore Line has proven to be a pivotal development, unlocking transformative investment opportunities that have attracted new businesses, supported the expansion of existing ones, and driven significant economic growth. This project has strengthened our region’s competitiveness, ensured energy stability, and laid a solid foundation for long-term prosperity in Windsor Essex."

Hydro One Limited (TSX: H)

Hydro One Limited, through its wholly owned subsidiaries, is Ontario's largest electricity transmission and distribution provider with approximately 1.5 million valued customers, approximately $32.8 billion in assets as of December 31, 2023, and annual revenues in 2023 of approximately $7.8 billion.

Our team of approximately 9,700 skilled and dedicated employees proudly build and maintain a safe and reliable electricity system which is essential to supporting strong and successful communities. In 2023, Hydro One invested approximately $2.5 billion in its transmission and distribution networks and supported the economy through buying approximately $2.5 billion of goods and services.

We are committed to the communities where we live and work through community investment, sustainability and diversity initiatives.  

Hydro One Limited's common shares are listed on the TSX and certain of Hydro One Inc.'s medium term notes are listed on the NYSE. Additional information can be accessed at www.hydroone.com, www.sedarplus.com or www.sec.gov.

Forward-looking statements and information:

This press release may contain "forward-looking information" within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of applicable U.S. securities laws (collectively, “forward-looking information”). Statements containing forward-looking information are made pursuant to the "safe harbour" provisions of applicable Canadian and U.S. securities laws. Words such as "expect", "anticipate", "intend", "attempt", "may", "plan", "will", "can", "believe", "seek", "estimate", and variations of such words and similar expressions are intended to identify such forward-looking information. These statements are not guarantees of future performance or actions and involve assumptions and risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed, implied or forecasted in such forward-looking information. Some of the factors that could cause actual results or outcomes to differ materially from the results expressed, implied or forecasted by such forward-looking information, including some of the assumptions used in making such statements, are discussed more fully in Hydro One's filings with the securities regulatory authorities in Canada, which are available on SEDAR+ at www.sedarplus.com. Hydro One does not intend, and it disclaims any obligation, to update any forward-looking information, except as required by law.

For further information: Hydro One Media Relations 24 hours a day at 1-877-506-7584 (toll-free in Ontario only) or 416-345-6868.