Hydro One Election Shows Strong Shareholder Confidence in Leadership and Strategic Direction

Hydro One's Board Election Reflects Strong Shareholder Confidence in Leadership

In a significant demonstration of confidence from its shareholders, Hydro One Limited announces the election of nine nominees as directors during its recent Annual and Special Meeting of Shareholders. A remarkable 84.12% of the company's issued and outstanding common shares, totaling 504,530,595 votes, are cast in favor of the nominees. The voting outcomes reveal overwhelming support, particularly for David Hay, who secures 99.46% of votes, followed closely by David Lebeter at 99.87%, and Stacey Mowbray with 99.82%. The high approval ratings across the board, including Mitch Panciuk, Mark Podlasly, Helga Reidel, Melissa Sonberg, Brian Vaasjo, and Susan Wolburgh Jenah, underscore a united front from shareholders who are keen on maintaining stability and strategic direction in Hydro One’s governance.

The successful election of these directors is indicative of Hydro One's solid performance and its pivotal role as Ontario's largest electricity transmission and distribution provider. With 1.5 million customers and assets valued at $36.7 billion as of December 31, 2024, the company has established itself as a cornerstone of the region's energy infrastructure. Its robust financial health is evidenced by annual revenues of $8.5 billion and a significant investment of $3.1 billion in its networks. This level of financial commitment not only enhances the reliability and safety of the electricity system but also reflects Hydro One’s dedication to fostering economic growth within the communities it serves.

Moreover, Hydro One’s emphasis on community investment, sustainability, and diversity initiatives illustrates its commitment to being a responsible corporate citizen. The company contributes $2.9 billion to the economy through local goods and services purchases, showcasing its role in supporting local businesses and the broader economic landscape. As Hydro One continues to prioritize these values alongside its operational goals, the recent board election positions the company for continued success and strengthens its relationship with shareholders, employees, and the communities it serves.

In addition to the director elections, all other matters presented at the meeting receive approval, further consolidating Hydro One's strategic direction. The full voting results will be made available on the company's corporate website and filed with Canadian and U.S. securities regulators, ensuring transparency and accountability.

Hydro One’s governance practices, corporate social responsibility efforts, and financial information remain accessible through its official website, providing stakeholders with comprehensive insights into the company’s operations and commitments.