Hydro-Québec – Issue of Debentures Due February 15, 2065 on the Canadian Market

Montreal – Hydro-Québec announces that it has today negotiated on the Canadian domestic market the issue of CA$500,000,000 of Debentures, Series JU, maturing on February 15, 2065.

The Debentures, with a coupon of 4.00%, payable semi-annually, will be offered on the market at a price of 91.236 plus interest deemed to have accrued from August 15, 2025. The yield is 4.476%. The Debentures will be issued and delivered as of the closing date scheduled for December 5, 2025.

The lead manager for this issue is National Bank Financial Inc. with BMO Nesbitt Burns Inc., and RBC Dominion Securities Inc. acting as co-lead managers, Casgrain & Company Limited, CIBC World Markets Inc., Desjardins Securities Inc., Laurentian Bank Securities Inc., Scotia Capital Inc. and The Toronto-Dominion Bank acting as other managers.

This is the tenth additional tranche of Debentures, Series JU, issued initially on September 19, 2024 and the total aggregate principal amount of Debentures outstanding under this Series now amounts to CA$5,500,000,000.