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Hydro One – Ministry of the Environment, Conservation and Parks approves the Terms of Reference to the Waasigan Transmission Line

Hydro One – Ministry of the Environment, Conservation and Parks approves the Terms of Reference to the Waasigan Transmission Line

The Terms of Reference for the Waasigan Transmission line are approved by the Ministry of the Environment, Conservation and Parks

The new transmission line will add 350 megawatts to power the expected growth in northwest Ohio.

TORONTO, MARCH 21 2022 – Hydro One today announced that the amended Terms of Reference for the Waasigan Transmission line between the Municipality of Shuniah, Town of Atikokan and City of Dryden has been approved by Ontario’s Ministry of the Environment, Conservation and Parks. The approved ToR outlines the process for the Environmental Assessment (EA), including the selection of a preferred project route, the environmental analyses to be completed, planned engagement activities and how the requirements are met. Environmental Assessment ActYou will be satisfied.

David Lebeter (COO, Hydro One) stated that this was an important milestone and an exciting step in the development and planning process for the Waasigan transmission line project. “We recognize that the northwest has the potential for economic growth. We are committed to doing the work now to ensure power is available when needed. Hydro One’s journey to Reconciliation will include the Waasigan Transmission Line being developed in partnership with Indigenous communities. This will ensure mutual benefits for this project as well as future ones.

Northwest Ontario is a key contributor to Canada’s success in mining. The Waasigan Transmission Line, which will bring an additional 350 Megawatts of power to the area, will provide enough power for approximately 11 new mines of average size. Waasigan will not only support economic growth but also create spin-offs for the local labour force and supply chain.

Next is the Notice of Commencement of the EA. Engagement activities are ongoing. The company will host open house this spring.

To access the ToR and to learn more information about the Waasigan Transmission Line Project, please visit: www.HydroOne.com/Waasigan.

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Hydro One Limited (TSX: H)

Hydro One Limited, through its wholly owned subsidiaries, is Ontario’s largest electricity transmission- and distribution provider. It has approximately 1.5 million customers, approximately $30.4 Billion in assets as of December 31, 2021, a total annual revenue of $7.2 Billion in 2021, and approximately 1.5 M valued customers.

Our 9,300 talented and dedicated employees build and maintain a safe, reliable electricity system. This is critical to supporting strong communities. Hydro One invested approximately $2.1B in its transmission- and distribution networks in 2021. It also supported the economy by purchasing approximately $1.7B worth of goods.

We are committed to the communities in which we live and work by investing in community, sustainability, and diversity initiatives. The Canadian Electricity Association has designated us as a Sustainable Electricity Company.

Hydro One Limited’s common shares can be listed on the TSX, while certain Hydro One Inc. medium term notes can be listed on NYSE. Additional information is available at www.hydroone.com; www.sedar.comOr www.sec.gov.

Forward-Looking Statements & Information

This press release, as well as the investment plan and application to which it is referring, may contain “forward-looking” information within the meaning applicable securities laws. This information includes, but not limited to, statements regarding Hydro One’s anticipated capital investments, including in relation to its five-year $17billion investment plan. Forward-looking information can be identified by words such as “expect”, “anticipate,””intend,”,”attempt,”,”may,” “plan,”,”will”, “can”, and variations thereof. These statements do not guarantee future performance or actions, and they involve assumptions and risks that are difficult to predict. These forward-looking statements may not be accurate and actual results or outcomes could differ materially from the ones projected, implied, or forecasted. Hydro One’s filings with Canada’s securities regulatory authorities are available on SEDAR. These documents discuss some of the factors that could cause actual outcomes or results to differ materially from those expressed, implied, or forecasted in forward-looking information. www.sedar.com. Hydro One is not planning to, and disclaims all obligation, to make any forward-looking statements, except as required or required by law.

Hydro One provides information regarding future capital investments in this press release. Hydro One is providing information about potential future capital investment to provide context for some of Hydro’s future plans. However, this information may not be appropriate to other purposes. Hydro One’s filings with Canadian securities regulators should be viewed in conjunction with the “Forward-Looking statements and Information” section above. www.sedar.com. Hydro One will not update information regarding future capital investments unless required by applicable securities law.

Our website is www.HydroOne.com. Follow us facebook.com/hydrooneofficial, twitter.com/hydroone instagram.com/hydrooneofficial.

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