Hydro-Québec – Issue of Medium Term Notes 3.60% Due September 1, 2033 on the Canadian Market

Montreal – Hydro-Québec announces that it has negotiated on the Canadian domestic market the issue of new notes totaling C$750,000,000, Series 0092 maturing on September 1, 2033, under its Canadian Medium Term Note Programme.

The notes, with a coupon of 3.60% payable semi-annually, will be offered on the market at a price of 100.182 plus interest deemed to have accrued from March 1, 2026.  The yield is 3.572%. The notes will be issued and delivered as of the closing date scheduled for January 19, 2026.

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

This is the first additional tranche of notes, Series 0092, issued initially on January 15, 2026 and the total aggregate principal amount of notes outstanding under this Series now amounts to C$1,500,000,000.