INC. ANNUAL GENERAL MEETING

June 12, 2020

1 ACRONYMS

AUC – Alectra Utilities Corporation; ICM – Incremental Capital Module;

AES – Alectra Energy Solutions; IESO – Independent Electricity System Operator;

BPC – BPC Energy Corporation (Borealis); IR – Incentive Rate Setting (distribution rates setting mechanism);

CapEx – Capital Expenditures; LDC – Local Distribution Company;

CDM – Conservation Demand management; LU – Large Use (Customers);

CP - Commercial Paper; MAAD – Mergers, Acquisitions, Amalgamations and Divestitures;

DER – Distribution Energy Resources; MIFRS – Modified International Reporting Standards;

EDR – Electricity Distribution Rate; MUSH – Municipal Government, University, School, Hospital;

ESM – Earnings Sharing Mechanism; OEB – Energy Board;

FIT – Feed-in Tariff; OM&A – Operating, Maintenance and Administrative expenses;

FTE – Full Time Equivalent; RFSP – Ring-Fenced Solar Projects (previously PowerStream

GHESI – Hydro Electrical System Inc.; solar generation business);

GS – General Service (Customers); USL – Unmetered Scattered Load

2 DISCLAIMER

The information in these materials is provided for information purposes only and is based on information currently available to Alectra Inc. and its affiliates (collectively “Alectra”). Alectra does not warranty the accuracy, reliability, completeness or timeliness of the information and undertakes no obligation to revise or update these materials. Alectra (including its directors, officers, employees, agents, and subcontractors) hereby waives any and all liability for damages of whatever kind and nature which may occur or be suffered as a result of the use of these materials or reliance on the information therein. This presentation contains, and oral answers to questions may contain, forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of the words such as “plans”, “expects”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements reflect the current expectations of Alectra’s management regarding future events and operating performance, but involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Alectra Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual events could differ materially from those projected herein and depend on a number of factors. Although forward-looking statements contained herein are based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. Accordingly, prospective investors should not place undue reliance on forward-looking statements. The forward-looking statements contained herein speak only as of the date of this Investor Presentation. Except as required by applicable securities laws, Alectra does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. All references in this presentation are as of June 12, 2020 unless otherwise stated.

3 WELCOME NORM LOBERG Chair, Alectra Inc. 4 ALECTRA INC. ANNUAL GENERAL MEETING AGENDA

1. Welcome and Opening Remarks – Norm Loberg, Alectra Chair 2. Shareholder Resolutions – Dennis Nolan, Executive Vice-President, General Counsel and Corporate Secretary Minutes of the June 14, 2019 Annual General Meeting Confirmation of the Appointment of Directors Appointment of the Auditors 3. Opening Remarks – Brian Bentz, President & CEO 4. Presentation by Brian Bentz, President & CEO and Executive Team 5. Annual Sustainability Report – Brian Bentz, President & CEO 6. Questions & Answers

5 SHAREHOLDER RESOLUTIONS DENNIS NOLAN Executive Vice-President, General Counsel and Corporate Secretary 6 SHAREHOLDER RESOLUTIONS

1. Minutes of the June 14, 2019 Annual General Meeting (Information)

2. Confirmation of the Appointment of Directors (Information)

3. Appointment of the Auditors (Approval)

4. Receipt of Annual Financial Statements Year Ended December 31, 2019 (Information)

7 ALECTRA ANNUAL GENERAL MEETING RESOLUTIONS

Minutes of the 2019 Annual General Meeting (“AGM”) The Minutes of the June 14, 2019 AGM were provided to the Shareholders for information.

Confirmation of the Appointment of Directors Since the Directors of Alectra are appointed pursuant to the provisions of the Unanimous Shareholder Agreement (“USA”), they are not appointed at the AGM. There is simply a confirmation of the existing slate of Directors. This does not require a vote by the Shareholders or Principals.

Confirmation of Directors RESOLVED THAT the following persons are confirmed as the directors of the Corporation, to hold office until the close of the next annual meeting of the shareholders or until their successors are elected or any of their resignations are received by the Corporation, subject to the provisions of the Corporation’s Unanimous Shareholders Agreement (the “USA”):

8 ALECTRA ANNUAL GENERAL MEETING RESOLUTIONS

Jane Armstrong Gerald Beasley Maurizio Bevilacqua Giuseppina D’Agostino Sean Donnelly Matthew Harris John Knowlton Norm Loberg Donald Lowry Teresa Moore

9 ALECTRA ANNUAL GENERAL MEETING RESOLUTIONS Appointment of the Auditors • Section 2.21(1)(j) of the USA provides that Shareholders holding at least 66.66% of the issued and outstanding voting shares shall appoint the Auditors of Corporation. The reappointment of KPMG LLP as Auditors of the Corporation was approved by Alectra’s Board of Directors at its meeting on May 22, 2020 and Shareholders holding 66.66% of the Voting Shares, have confirmed their approval of such reappointment to the Secretary of the Corporation. Therefore, the Resolution set out below was approved and KPMG LLP is appointed as Auditors of the Corporation to hold office until the next AGM, and further that their remuneration be fixed by the Directors of the Corporation.

Appointment of the Auditors

RESOLVED AS A SPECIAL RESOLUTION THAT: In accordance with Subsection 2.21(1)(j) of the USA:

KPMG LLP are appointed auditors of the Corporation, to hold office until the close of the next annual meeting of the shareholders or until their successors are appointed, subject to the provisions of the Act; and The remuneration of the auditors shall be fixed by the directors of the Corporation.

10 ALECTRA ANNUAL GENERAL MEETING RESOLUTIONS

Alectra Inc. Annual Financial Statements Year Ended December 31, 2019

Alectra’s 2019 Financial Statements have been provided to each of the Shareholders as required pursuant to Section 2.25 of the USA by letter dated May 26, 2020. Mr. John Basilio will review the financial results for 2019.

Financial Statements Receipt of the Financial Statements of the Corporation for the financial year ended December 31, 2019 as approved by the Directors is acknowledged.

11 OPENING REMARKS BRIAN BENTZ President & CEO 12 COVID-19 UPDATE Actions March • Memo to all staff RE: COVID-19 update and new restrictions • Began preparing for the potential of the need for emergency operations; in accordance with our Emergency Preparedness Plan • Sent the Notice of Emergency to all Alectra staff • Implemented the work from home order May • ~90% of our 1510 employees working from home • ~150 essential service staff are working onsite, to support critical operations • Planning is underway for Return To Work - including new procedures: • Employee Testing procedure(s) and Return to Work scheduling / phasing • Monitoring the World Heath Organization, Federal / Provincial government notifications and statistical data to better understand the “triggers” that may affect our Return To Work plans

13 COVID-19 UPDATE Communications • CEO outreach to employees - through executive memos and weekly videos • Stay Connected campaign - encouraging employees to submit photos of their new work environment—whether at home or in the field. A new theme is launched each week • Customer e-blasts and COVID-19 specific news releases keep customers informed • COVID-19 FAQ developed for our website – proactive information and helping relieve inbound pressure on call-centres

14 COVID-19 UPDATE Community Support • Donated $273,000 to five United Way chapters across our territory. United Way matched the donation, increasing it to a total of $400,000 • Sponsored the purchase of a Healthworks Clean Mini Machine N95 Mask Cleaner for Niagara Health Foundation. The machine services 5 medical sites across 7 municipalities in Niagara Region • Contributed to William Osler Hospital Systems’ purchase of a specialized machine used for rapid testing of COVID-19 test samples for 3 hospitals in , Peel and Etobicoke • Provided 16,800 N95 masks to hospitals across our service territory to help address shortages resulting from COVID-19 • Donated $230,000 to food banks in our service territory to help meet the high demand caused by COVID-19

15 PRESENTATION BRIAN BENTZ, President & CEO and EXECUTIVE TEAM 16 OVERVIEW

• 81% of Business Case synergies achieved – Strategy 1.0 – Mission Accomplished • Strong financial performance in our first three years - 2017, 2018 & 2019 • Evolving business environment is creating risks as well as opportunities • Current financial outlook beyond 2020 lower than expectations • Strategy 2.0 is a natural evolution from our inaugural strategy and builds upon Alectra’s integration and synergy successes achieved to date • Strategy 2.0 will accelerate Alectra’s progress towards becoming a customer-centric, innovative, integrated energy services company focused on Customer, Grid and Growth • Growth and re-balancing investment will be key to addressing short-term risks and longer-term opportunities • Bottom line: Through the implementation of Strategy 2.0, Alectra will be well positioned to continue delivering long-term value to our shareholders

17 EVOLVING FROM STRATEGY 1.0

The inaugural Strategic Plan was developed focused on four key themes:

• Managing the Transition; • Optimizing Operations and Enhancing the Customer Experience; • Growing the Business; and • Building Corporate Resilience

In the first three-years following the creation of Alectra, most of the corporation’s efforts have been principally focused on Managing the Transition comprising systems, process and cultural integration in order to achieve the synergies identified in the merger business case and, ultimately, deliver the associated customer and shareholder benefits

Strategy 1.0 - Mission Accomplished

18 OVERVIEW OF FINANCIAL STATEMENTS JOHN BASILIO Executive Vice-President and Chief Financial Officer 19 Alectra Inc. – PRINCIPAL CORPORATE STRUCTURE (AS OF JANUARY 1, 2020)

City of City of City of St. City of City of City of City of - 90% Hamilton Catharines Guelph Markham BPC -10% 100% 100% 100% 100% 100% 100% Hamilton Guelph Markham St. Catharines Vaughan Barrie Hydro Enersource Utilities Municipal Enterprises Hydro Inc. Holdings Inc. Holdings Inc. Corporation Corporation Holdings Inc. Corporation

29.6% 17.3% 4.6% 4.6% 20.5% 15.0% 8.4%

Alectra Inc.

100.0% 100.0% Alectra Utilities Alectra Energy Horizon Corporation Solutions Inc. Solar Corp. “AUC” 1 “Energy Solutions”

<0.1% >99.9% 100.0% 100.0%

Alectra Energy Alectra Power Solar Sunbelt 100.0% Services Inc. Services Inc. General Partnership

Util-Assist Inc.

20 CONSOLIDATED HIGHLIGHTS - ALECTRA • AUC is the largest municipally-owned Local Distribution Company ("LDC") in providing service to over 1,000,000 residential, commercial, industrial and institutional customers around the Greater Area • Regulated business comprises approximately 96% of Total assets and approximately 95% of consolidated EBITDA • Non-regulated business consists principally of solar generation assets under long term FIT contracts with the IESO and sub-metering business

Total Customers 1 Total Assets 2 EBITDA 2

Residential Regulated Regulated 90% 96% 95%

1,065,821 $5.1B AES $316MM 2%

2019 Highlights 2019 AES GS < RFSP RFSP 1% Other 50kW/ USL 2% 4% 1% 8% GS > 50kW / LU 1% 21 1 - Number of customers is as of Dec.31, 2019; 2 - Total Assets and EBITDA are based on 2019 IFRS Audited Financial Statements ALECTRA UTILITIES CORPORATION

More than 1,000,000 2nd largest municipally owned customers utility in North America 2

21,112 overhead and 17 communities served underground lines

1,924 square-km 13 transformer stations service territory

169 municipal substations 575 fleet vehicles

Note: The statistics above include GHESI data

22 2018 PEER COMPARISON: ONTARIO ELECTRICITY SECTOR

Customer Share 1,2 Asset Share 1,2 (Total Ontario: 5.2MM) (Total Ontario: $25.3B)

AUC AUC 20% Toronto Hydro 18% Hydro 15% 20%

Hydro Hydro Ottawa 6% 5% 26% Hydro One Remaining 36% Remaining 58 LDCs 58 LDCs 33% 21%

LDC average AUC GHESI AUC+GHESI

Number of customers 3 82,682 991,102 55,673 1,046,775 Total GWH delivered 2,101 25,437 1,678 27,116 Distribution losses 4 (% of GWh delivered) 3.95% 3.15% 2.45% 3.11% OM&A per customer $316 $238 $301 $241 Distribution revenue per customer $719 $539 $552 $540

1 - Alectra data includes GHESI 2 - Source - OEB, Yearbook of Electricity Distributors 2018 23 3 - Number of customers excludes Sentinel and USL customers 4 - Distribution Losses refer to the loss of energy due to electrical resistance in the transmission process 2019 CONSOLIDATED RESULTS

 2019 net income of $132.9MM (MIFRS) Alectra Inc Modified IFRS Net Income ($MM) overachieved budget $MM 140.0

• Strong revenue and cost control 120.0

 Net capital expenditures of $333.5MM, 100.0 $36.5MM higher than budget 80.0 • Due to the purchase of land for 60.0 Consolidated Operation Centre 40.0

($44MM) 20.0  Over-achieved merger synergy targets 0.0 (20.0) Consolidated Alectra Utilities Energy Solutions Ring-Fenced Solar  Modest write-offs from Sub-metering Actual 132.9 129.2 (1.0) 3.1 contracts Budget 121.3 114.4 1.9 3.0

24 DIVIDENDS The Board shall at all times exercise its discretion pertaining to the payment of dividends and having regard to the principles set out in the respective dividend policies: . The dividend on voting common shares is to be computed on Shared Net Income 1 in a manner consistent with that used by the OEB for purposes of its distribution rate-making policies. Such basis is commonly referred to as MIFRS; . Expected to pay dividends up to 60% of MIFRS Net Income

Separate dividend policy exists for the RFSP business, whereby dividends accrue solely to the former PowerStream Holdings shareholders on Class S shares of Alectra Inc., and to Alectra Inc. on Class S shares of AUC Alectra Inc. and Predecessors - Dividends Paid 2015 - 2019 $MMs Alectra Enersource Horizon PowerStream Brampton Guelph 120

100

80

60

40

20

0 2015 2016 2017 2018 2019 25 1 Shared Net Income of Alectra refers to the Net income of Alectra Inc., excluding RFSP 2 Aggregation of dividends paid by predecessor distributors for purpose of illustration DELIVERING ON DIVIDENDS IN YEARS 1 - 3

($MMs) 2017 2018 2019 Total

PERFORMANCE vs MERGER BUSINESS CASE Achieved 45.2 75.7 85.8 206.7 Merger Business Case 52.1 66.8 77.6 196.5 Difference (6.9) 8.9 8.2 10.2

PERFORMANCE vs NO MERGER Achieved 45.2 75.7 85.8 206.7 No Merger(Status Quo) 44.3 50.7 53.2 148.2 Difference ** 0.9 25.0 32.6 58.5

* Accruing to initial Alectra Inc. Voting Common Shareholders (i.e., excluding GMHI) for comparative purposes to Alectra Merger Business Case ** Alectra Merger Business Case assumed 12 month year for 2017. Alectra was formed Jan.31, 2017 with Brampton acquisition on Feb. 28, 2017

 2019 dividends to Guelph shareholder are $4.1MM, or $0.5MM favourable to the Year 1 projection of $3.6MM, provided in the Guelph Hydro - Merger Business Case 26 FINANCIAL OUTLOOK 2020 TO 2022 DIVIDENDS

($MMs) 2020 2021 2022 Total

PERFORMANCE vs MERGER BUSINESS CASE Forecast 77.6 78.4 85.6 241.6 Merger Business Case* 92.9 96.7 95.7 285.3 Difference (15.3) (18.3) (10.1) (43.7)

PERFORMANCE vs NO MERGER Forecast 77.6 78.4 85.6 241.6 No Merger(Status Quo)* 58.8 60.7 63.8 183.3 Difference ** 18.8 17.7 21.8 58.3

For comparative purpose only, the amounts from the original business case and the Guelph business case are combined;

These results are based on the Financial Plan communicated to Shareholders in November 2019 and are unadjusted for the forecast implications of COVID-19;

As previously reported to Shareholders, the principal drivers of the unfavourable forecast dividend trends compared to Merger Business Case are a result of (i) unexpected adverse OEB decision on Alectra Utilities ICM/IR rate applications; (ii) changes in customer service rules adversely impacting revenue forecasts; (iii) elimination of the Conservation First Framework and (iv) a reset of revenue growth expectations from non-regulated Energy Solutions businesses. 27 (CLASS S SOLAR SHARES) PERFORMANCE ACTUAL AND 3-YEAR FORECAST

The annual Solar Share Dividend is set as a target up to 80% of the “net free cash flow” generated exclusively by the former PowerStream Solar Business subject to meeting certain conditions such as debt servicing adequacy

Actual Forecast 2017 2018 2019 2020 2021 2022 Dividends at 80.00% Net Free Cash Flow 12.97 8.00 7.50 5.10 4.80 4.50 Special Dividend - Tax Loss Utilization 3.92 2.70 - - - - Total Solar Share Dividends, pre-tax 16.88 10.70 7.50 5.10 4.80 4.50

28 2020 FORECAST – IMPACT OF COVID-19

At this time, the implications of Pandemic to the 2020 budget are just beginning to emerge in data and trending analysis

The key variables/ levers contributing to forecast uncertainty: • customer consumption/demand and the impact on revenue; • extent of delivery of capital programs and impact on operating expenses; • labour management and productivity and the impact on operating expenses and cash flow; and • customer payment behaviour and impact on cash flow and credit losses

29 IMPACT OF COVID-19 - Liquidity

Alectra’s short-term cash requirements have been re-forecast, under several stress tested scenarios, to determine whether the funds available under Alectra’s committed facility are adequate to mitigate liquidity risks • In April 2020, Alectra increased its availability under its current committed facility from $500MM to $700MM; • In addition, Alectra has access to $200MM in uncommitted facilities; • With $900MM of available short-term liquidity, Alectra has sufficient liquidity to meet its obligations

Alectra is proactively planning for a prolonged economic disruption and exploring options to improve and extend the liquidity in the event of a lengthy economic disruption: • management is exploring the option of issuing $250-300MM of senior debenture to take place in Q2-Q3 2020, advancing the issue previously planned in 2021

30 FINANCIAL PERSPECTIVE INVESTOR CONSIDERATIONS

Largest municipally-owned LDC in Stable and consistent financial Canada by number of customers performance through predecessor entities

Low-risk monopoly electricity Strong reputation and experienced distribution business management team

Efficient, low cost operations Supportive shareholders

Favourable customer mix in a strong Excellent relationship with regulator service territory

31 OPERATIONAL & SYNERGY UPDATE MAX CANANZI President, Alectra Utilities Corp. 32 INTEGRATION & SYNERGY UPDATE

Merger: 3 Year Plan – Feb. 2017 to Dec. 2019

Goal: To integrate the 4 companies (5 with Guelph Hydro Jan. 2019) to achieve operating synergies with no degradation of customer service

Outcome: Over achieved

TRANSITION SYNERGY COSTS SAVINGS ($MM) ($MM)

$128.3 $75.0 $93.50 $106.0 $52.1 $39.90

BUSINESS 2017 2019 BUSINESS 2017 2019 CASE FINANCIAL ACTUAL CASE FINANCIAL ACTUAL PLAN PLAN 33 INTEGRATION & SYNERGY UPDATE

Successes achieved: • Achievement of merger synergies • First Collective Bargaining Agreement in place • Integrated Customer Information and Billing system +1 Million customers • Integrated Financial Systems • Establishment of foundational IT systems • First consolidated Capital Asset Investment plan filed with OEB • Successful brand awareness of Alectra in all communities • Sustained community involvement post merger in each community • Moving towards an integrated corporate culture supportive of our values • Organization in place to succeed and grow

34 HOW ALECTRA COMPARES TO ONTARIO LDCs

Alectra [pre-consolidation]: $OM&A per Customer [Reference: 2018 OEB Yearbook] • $254 OM&A per customer in ’16

Business Case forecast: ↓ Decrease of $40 OM&A per customer due to original Alectra Alectra consolidation Pre-Consolidation Alectra 2018 Alectra $254.80 $237.60 Post-Consolidation $210.00 ↓ Decrease of $4 OM&A per customer due to Guelph Hydro merger

Alectra is on track with its cost reductions

Alectra [post-consolidation & mergers]: • $210 OM&A per customer

35 HOW ALECTRA’S BILL COMPARES

Delivery Charge for Alectra Average Large Urban Utility Residential Customer using 750 kwh per month is: $41.72

Delivery Charge for a large urban LDC Average Residential Customer using 750 kwh per month is: $52.36

An annual savings of: $127.68

Note: due to COVID-19 electricity commodity pricing is at Off-Peak rate of 10.1¢

36 STRATEGY 2.0 BRIAN BENTZ President & CEO 37 MEGA TRENDS

The grid is increasingly Increasing focus to transition to a decentralized as technology costs low carbon economy through fuel switching and energy efficiency decline and investment in DERs grow

Decarbonization Decentralization

Democratization Digitalization Customers wanting flexibility and Advances in digital control and choice, technology advancements communication are enabling and the rise of DERs are intelligent asset networks and democratizing energy supply Internet of Things

38 ONTARIO INFLUENCERS

Ontario Government

OEB IESO

The Ontario Government, the OEB, and the IESO, have the greatest affect Alectra’s business model through their actions (regulation, legislation and studies)

39 INDUSTRY UNDER TRANSFORMATION

Electricity industry has been mostly static for over 100 years

Top business leaders rarely had to think about electricity – let alone how it was produced, delivered or managed

Residential and business customers merely accepted the price and quality of electricity with little concern or question

Long-term planning for monopolistic utilities was simple: build generation, deliver it to customers and customers will pay for it without question

40 INDUSTRY UNDER TRANSFORMATION

Technology is giving customers greater autonomy and more choice in the way they source, use and store electricity

Our industry is experiencing the collision of a technology- powered push and a customer-powered pull

Electricity markets are now shared with new players, new technologies, greater customer interaction, broader options, and eroding distinctions between industries

These transformations are opening up immense Source: Navigant opportunities while enabling consumers of electricity to approach electricity in a new way — as “prosumers,” who both produce and consume energy

41 INDUSTRY UNDER TRANSFORMATION

The sector has traditionally focused on long-lived assets and gradual policy shifts

It has adopted changes in a piecemeal, deliberate, and sometimes regulatory-constrained fashion and is not accustomed to an accelerated pace of change

We are facing headwinds: • Load growth isn’t coming back, even with electrification of transportation • Rate and competitive pressures are increasing • Regulator and stakeholder scrutiny is growing • There are new sources of disruption and they are growing

The status quo option may be the highest risk option

42 Vision & Mission

VISION AND STRATEGIC INTENT Broadens our options beyond We will be Canada’s leading electricity distribution and integrated electricity, to include energy solutions provider, creating a future where people, businesses, the distribution of and communities will benefit from energy’s full potential. water, wastewater and information / MISSION AND POSITIONING STATEMENT data in the future

We provide customers with smart and simple energy choices, while creating sustainable value for our shareholders, customers, communities and employees.

EMPLOYEE MISSION

Alectra will be a Leader in the Creation of a New Energy World – Delivering New Energy Solutions and Essential Services because of Empowered, Energized and Engaged Employees 43 CREATING STRATEGY 2.0 Key elements of Strategy 2.0 are a continuation and enhancement of initial Strategic Plan themes:

Customer (Experience)

Grid (Modernization)

Growth (Regulated and Competitive Businesses)

Each element is distinct in scope but has significant interconnected and interdependent aspects which will allow Alectra to harvest the greatest advantage and value for its customers, shareholders, and communities

44 KEY MESSAGES Strategy 2.0:

• Is a natural evolution of Strategy 1.0 and builds upon Alectra’s integration and synergy successes achieved to date

• Will accelerate Alectra’s progress towards becoming a customer-centric, innovative, integrated energy services company

• Is a proactive and forward-looking approach addressing the industry headwinds

• Will be executed at a measured pace that reflects organizational priorities

• Is consistent with: Alectra’s leadership role in the industry; changing business environment; status quo not an option

• Will enhance Alectra’s brand and reputation – “ally” and “discover the possibilities”

• Provides a “North Star” to help build employee engagement in the future vision of the company

45 BUILDING A RESILIENT STRATEGY

Four supporting strategies, are under development to support resiliency and address execution risks with respect to the three key strategy elements, are as follows:

• Culture and Talent Management

• Technology and Innovation

• Regulatory and Key Stakeholder Relations [Advocacy]

• Financing

46 STRATEGY 2.0

One Strategy working as one One Team company for our customers and our One Company shareholders

47 ANNUAL SUSTAINABILITY REPORT BRIAN BENTZ President & CEO 48 2019 ANNUAL SUSTAINABILITY REPORT

49 2019 ANNUAL SUSTAINABILITY REPORT

50 2019 ANNUAL SUSTAINABILITY REPORT

Inserts:

2019 Management Discussion & Analysis

2019 Annual Progress Report for the GRE&T Centre

51 AWARDS & RECOGNITION BRIAN BENTZ President & CEO 52 AWARDS & RECOGNITION • Recognized by Corporate Knights as one of Canada’s Best 50 Corporate Citizens – ranked 3rd Confidential: To be publicly announced on June 25th by Corporate Knights • Received the 2019 Environmental Excellence Award by the Electricity Distribution Association for AlectraCARES’ Planet pillar within its sustainability framework • 2019 CEA Individual Leadership on Sustainability Award • First electric utility in Ontario to be award the “Caring Company” designation from Imagine Canada • Excellence in Diversity & Inclusion ranking from Electricity & Human Resources Canada • EcoVadis – Bronze ranking. EcoVadis ranks Corporate Social Responsibility efforts of organizations

53 RECAP BRIAN BENTZ President & CEO 54 IN SUMMARY…

 81% of sustained consolidation synergies have been achieved as planned

 High levels of customer satisfaction and service reliability have been maintained

 Community investment and shareholder engagement has been maintained or improved

 A rapid pace of change including technology, customer choice, political and regulatory environments has gripped our industry

 During COVID-19, Alectra has stepped up for its employees and its communities

 Strategy 2.0 is the natural next step of Alectra’s evolution and will keep Alectra in a leadership role in the industry within this changing business environment

55 QUESTIONS ?

56