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Investor Presentaiton

Net Debt-to-GDP Per Cent Planning Projection Faster Growth Scenario Slower Growth Scenario 43.0 45 Net Debt-to-GDP Target <40.0% 40 40 35 35 32.1 50 30.1 30.5 30 40.3 39.7 39.3 36.6 40.5 39.7 39.5 40.0 38.2 39.2 32.3 34.5 31.2 28.2 26.6 28.3 25 20 21.1 17.1 15 13.4 10 Ontario 1993-94 1994-95 1995-96 2000-01 2001-02 1990-91 1991-92 1992-93 1996-97 1997-98 1998-99 1999-00 2002-03 2003-04 2004-05 2005-06 Sources: Statistics Canada and Ontario Ministry of Finance. Actuals 2006-07 2007-08 2008-09 2009-10 2010-11 29.4 29.3 27.5 27.8 26.6 41.0 41.5 26.8 26.8 27.1 27.8 38.3 38.9 38 38.4 39.1 37.9 38.7 37.1 35.7 2022-23 2023-24 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2023-24 2024-25 2025-26 2019-20 2020-21 2021-22 2022-23 2024-25 2025-26 Current Outlook & Medium-Term Outlook 21
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