Book size: 13100; Registration: Reg S Only; Comments: EUR3bn 10yr fxd cpn 3.125% at 99.966, yld 3.129%. Spread: MS+41;

Reoffer: 10yr: MS+41bp / 99.966 / 3.129% Benchmark: 10yr: DBR 2.9 15-Feb-36 @ 101.715 / B+42.9bp / HR 97% Final Books: In excess of EUR 13.1bn (ex JLM) Launched: 10yr: €3bn @ MS+41bp - Books closed in excess of €13.7bn (ex JLM) Spread set at: 10yr: MS+41bp - Books in excess of €12.5bn (ex JLM) Guidance: 10yr: MS+44bp area Issuer: Province of Ontario Issuer Rating: Aa3/AA-/AA-/AA (Moody's/S&P/Fitch/DBRS) (All Stable) Format: Eurobond; Reg S, Bearer Notes, TEFRA D, NGN Size: €3bn Maturity: 05-Mar-36 Settlement: 05-Mar-26 (T+5) Coupon: 3.125% Fixed, Annual, Act/Act (ICMA) Reoffer: MS+41bp / 99.966 / 3.129% Benchmark: +42.9bp vs DBR 2.9 15-Feb-36 (101.715, 97% HR) Listing: Luxembourg (Euro MTF Market) Law: Ontario Docs: Issuer's Euro Medium Term Note programme Denominations: €100k +1k ISIN: XS3309139080 Leads: BofA/BNPP/CACIB/DB/RBC CM(B&D/DM) Timing: Priced. TOE 14.08 UKT / 15.08 CET, FTT immediately Target Market: The manufacturer target markets (MIFID II product governance) are eligible counterparties and professionals (all distribution channels) Fees: The Banks will be paid a fee by the Issuer in respect of the placement of the securities Advertisement: This communication is an advertisement for the purposes of Regulation (EU) 2017/1129 and underlying legislation. It is not a prospectus. The Final Prospectus, when published, will be available at https://www.bourse.lu/issuer/Ontario/27853