On the recommendation of the undersigned, the Lieutenant Governor of Ontario, by and with the advice and concurrence of the Executive Council of Ontario, orders that:

Whereas the Minister of Energy, Northern Development and Mines (“Minister”), and the Associate Minister of Energy, are committed to ensuring that Ontario has an affordable and reliable electricity system, while continuing to find further cost efficiencies in the electricity sector;

And whereas it is desirable that the Independent Electricity System Operator (“IESO”) assist the Government with identifying viable opportunities to lower electricity prices for Ontario consumers while maintaining system reliability;

And whereas the Minister may, with the approval of the Lieutenant Governor in Council, issue directives under subsection 25.32(5) of the Electricity Act, 1998 that require IESO to undertake any initiative or activity that relates to, amongst other matters, electricity supply or capacity.

Now therefore the Directive attached hereto is approved as of the date hereof.

Minister's Directive

Ministry of Energy, Northern Development and Mines

Approved and Ordered: October 25, 2019