Investor Presentaiton

Ontario's Economic Outlook The Ministry of Finance's GDP planning projections are set slightly below the average of private-sector forecasts for the purposes of prudent fiscal planning. Economic Summary (Per Cent) 2022 2023p 2024p 2025p 2026p Real GDP Growth 3.7 1.1 0.5 2.0 2.8 Nominal GDP Growth 9.2 3.6 2.9 4.2 4.8 Employment Growth 4.6 2.3 0.8 1.5 1.9 CPI Inflation 6.8 3.7 2.5 2.1 2.0 Ontario p = Ontario Ministry of Finance planning projection based on external sources as of September 29, 2023. Sources: Statistics Canada and Ontario Ministry of Finance. 3

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