MESSAGE FROM THE PRESIDENT AND CEO

MESSAGE FROM THE PRESIDENT AND CHIEF EXECUTIVE OFFICER

In 2021, Hydro-Québec pulled out all the stops to deliver the best financial results in its history for continuing operations—which is to say, without taking into account the disposal of assets. We posted net income of $3,564 million, compared to $2,303 million in 2020. The dividend of $2,673 million we will pay to our sole shareholder, the Québec government, represents our biggest contribution to the provincial coffers to date.

Our performance is in large part attributable to the rebound in electricity demand both here at home and in neighboring markets, combined with the outstanding readiness of our operational assets, despite the complications created by the pandemic.

Our financial results take on even greater meaning in light of our unparalleled satisfaction ratings, particularly from our customers regarding the services we provide.

With 2021 behind us, our sights are now resolutely turned to the future that we are working to build with great enthusiasm and resolve.

It was against the backdrop of the collective challenge of transitioning to a low-carbon economy that we drafted our Strategic Plan 2022–2026 in the past year.

Enhanced by a broad consultation of our stakeholders, the Plan outlines the major issues we face and lays out the roadmap that will guide our actions as we continue to transform our remarkable power system into a smarter grid capable of integrating new renewable energy sources and handling substantial growth in demand. A grid that will enable our customers to maximize the energy efficiency of each kilowatthour they consume and that will remain among the most competitive in North America.

The challenges that lie ahead are significant, but we’re prepared to meet them head on as evidenced by the strong attachment to the company shown by all members of the staff throughout the second year of the pandemic. Every day, our employees combine their efforts to serve Québec’s collective aspirations. My colleagues on the management team join me in thanking all of them for their contribution and ongoing commitment.

Sophie Brochu

Pierre Fortin, Sophie Brochu, Julie Boucher and Éric Filion

Jean Matte, Geneviève Fournier and Pierre Despars

Pierre Gagnon, Jean-François Morin, Jean-Hugues Lafleur, Claudine Bouchard and Nathalie Dubois

Our management team Consult the management team webpage for the titles of the senior executives pictured above. All public health measures in effect when the photos were taken were respected.