On August 25, 2025, Hydro One Inc., a wholly owned subsidiary of Hydro One Limited (collectively, Hydro One) completed an offering of $1.1 billion medium term notes (the notes), consisting of $450 million of 3.94 percent medium term notes, series 61, due 2032, $300 million of 4.30 percent medium term notes, series 62, due 2035 and $350 million of 4.95 percent medium term notes, series 63, due 2055. The notes were offered on a best efforts basis in each of the provinces of Canada through a syndicate of agents.

Hydro One Limited, 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 December 31, 2024, and annual revenues in 2024 of $8.5 billion.

Osler, Hoskin & Harcourt LLP advised Hydro One with a team consisting of Michael Innes, Amelia Miao and Katharine Li (Corporate), David Davachi and James Chang (Tax), Samuel Cohen and Sophie Plourde (Translation).