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<DocHeader>
<DocTitle>Transmission Rights Monthly Financial Report</DocTitle>
<DocRevision>1</DocRevision>
<DocConfidentiality>
<DocConfClass>PUB</DocConfClass>
</DocConfidentiality>
<CreatedAt>2026-01-06T12:23:48</CreatedAt>
</DocHeader>
<DocBody>
<TRValidityPeriod>Mar 2026</TRValidityPeriod>
<PathData>
<PathName>MAN-ON</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>1477819.08</CumulativeCongestionRents>
<CumulativeTRPayouts>943493.51</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>534325.57</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>MICH-ON</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>2121012.41</CumulativeCongestionRents>
<CumulativeTRPayouts>3101285.05</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>-980272.64</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>MIN-ON</PathName>
<MonthlyCongestionRents>12513.6</MonthlyCongestionRents>
<MonthlyTRPayouts>312.84</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>563428.25</CumulativeCongestionRents>
<CumulativeTRPayouts>503722.74</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>59705.51</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>NY-ON</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>150545.61</CumulativeCongestionRents>
<CumulativeTRPayouts>291999</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>-141453.39</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>ON-MAN</PathName>
<MonthlyCongestionRents>58439</MonthlyCongestionRents>
<MonthlyTRPayouts>6400.92</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>7197331.48</CumulativeCongestionRents>
<CumulativeTRPayouts>19369955.56</CumulativeTRPayouts>
<CumulativeManualAdjustments>1988211.19</CumulativeManualAdjustments>
<CumulativeNetBalance>-14160835.27</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>ON-MICH</PathName>
<MonthlyCongestionRents>33611</MonthlyCongestionRents>
<MonthlyTRPayouts>47763</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>908530794.38</CumulativeCongestionRents>
<CumulativeTRPayouts>833722598.66</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>74808195.72</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>ON-MIN</PathName>
<MonthlyCongestionRents>7170.75</MonthlyCongestionRents>
<MonthlyTRPayouts>787.35</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>15526394.85</CumulativeCongestionRents>
<CumulativeTRPayouts>16133920.63</CumulativeTRPayouts>
<CumulativeManualAdjustments>137278.82</CumulativeManualAdjustments>
<CumulativeNetBalance>-744804.6</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>ON-NY</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>328293006.38</CumulativeCongestionRents>
<CumulativeTRPayouts>269634858.31</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>58658148.07</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>ON-QD5A</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>0</CumulativeCongestionRents>
<CumulativeTRPayouts>790.79</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>-790.79</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>ON-QH4Z</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>787672.61</CumulativeCongestionRents>
<CumulativeTRPayouts>435772.59</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>351900.02</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>ON-QOUTA</PathName>
<MonthlyCongestionRents>6036949.09</MonthlyCongestionRents>
<MonthlyTRPayouts>3132650.1</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>168084576.13</CumulativeCongestionRents>
<CumulativeTRPayouts>92348541.39</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>75736034.74</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>QBEAU-ON</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>3898520.46</CumulativeCongestionRents>
<CumulativeTRPayouts>4319333.66</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>-420813.2</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>QD4Z-ON</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>13190.82</CumulativeCongestionRents>
<CumulativeTRPayouts>78446.46</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>-65255.64</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>QD5A-ON</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>0</CumulativeCongestionRents>
<CumulativeTRPayouts>63.61</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>-63.61</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>QOUTA-ON</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>65466673.67</CumulativeCongestionRents>
<CumulativeTRPayouts>52516748.91</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>12949924.76</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>QP33C-ON</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>40367.79</CumulativeCongestionRents>
<CumulativeTRPayouts>35261.98</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>5105.81</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>QX2Y-ON</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>4588.6</CumulativeCongestionRents>
<CumulativeTRPayouts>4592.59</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>-3.99</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes/>
</PathData>
<PathData>
<PathName>MANSK-ON</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>0</CumulativeCongestionRents>
<CumulativeTRPayouts>0</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>0</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes>Financial Upper Limit = 0 MW</Notes>
</PathData>
<PathData>
<PathName>ON-MANSK</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>0</CumulativeCongestionRents>
<CumulativeTRPayouts>0</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>0</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes>Financial Upper Limit = 0 MW</Notes>
</PathData>
<PathData>
<PathName>ON-QBEAU</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>0</CumulativeCongestionRents>
<CumulativeTRPayouts>0</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>0</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes>Financial Upper Limit = 0 MW</Notes>
</PathData>
<PathData>
<PathName>ON-QD4Z</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>0</CumulativeCongestionRents>
<CumulativeTRPayouts>0</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>0</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes>Financial Upper Limit = 0 MW</Notes>
</PathData>
<PathData>
<PathName>ON-QH9A</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>0</CumulativeCongestionRents>
<CumulativeTRPayouts>0</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>0</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes>Financial Upper Limit = 0 MW</Notes>
</PathData>
<PathData>
<PathName>ON-QP33C</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>0</CumulativeCongestionRents>
<CumulativeTRPayouts>0</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>0</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes>Financial Upper Limit = 0 MW</Notes>
</PathData>
<PathData>
<PathName>ON-QQ4C</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>0</CumulativeCongestionRents>
<CumulativeTRPayouts>0</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>0</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes>Financial Upper Limit = 0 MW</Notes>
</PathData>
<PathData>
<PathName>ON-QX2Y</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>0</CumulativeCongestionRents>
<CumulativeTRPayouts>0</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>0</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes>Financial Upper Limit = 0 MW</Notes>
</PathData>
<PathData>
<PathName>QH4Z-ON</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>0</CumulativeCongestionRents>
<CumulativeTRPayouts>0</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>0</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes>Financial Upper Limit = 0 MW</Notes>
</PathData>
<PathData>
<PathName>QH9A-ON</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>0</CumulativeCongestionRents>
<CumulativeTRPayouts>0</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>0</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes>Financial Upper Limit = 0 MW</Notes>
</PathData>
<PathData>
<PathName>QQ4C-ON</PathName>
<MonthlyCongestionRents>0</MonthlyCongestionRents>
<MonthlyTRPayouts>0</MonthlyTRPayouts>
<ManualAdjustments>0</ManualAdjustments>
<CumulativeCongestionRents>0</CumulativeCongestionRents>
<CumulativeTRPayouts>0</CumulativeTRPayouts>
<CumulativeManualAdjustments>0</CumulativeManualAdjustments>
<CumulativeNetBalance>0</CumulativeNetBalance>
<Deadband>0</Deadband>
<Notes>Financial Upper Limit = 0 MW</Notes>
</PathData>
<FootNotes>1) Please note that cumulative values reflect the accumulation of funds (i.e. Congestion Rent, Payouts, Manual Adjustments) from January 2017 onwards.&lt;br />2) Ownership Period reflects the TR ownership period for which the financial data outlined above was utilized to derive the updated financial upper limits.&lt;br />3) Further information regarding Financial Upper Limit and Dead-band for this auction can be found at:  &lt;br />https://www.ieso.ca/-/media/Files/IESO/Document-Library/Renewed-Market-Rules-and-Manuals/market-manuals/market-operations/ieso-mo-transmission-rights-auction.pdf</FootNotes>
</DocBody>
</Document>
