Schedule A

June 2011 Redemptions

NOTICE TO HOLDERS OF MANITOBA HYDRO BONDS
FLOATING RATE BONDS, ANNUAL INTEREST
SERIES 10 – ISSUED JUNE 15, 2007 MATURING JUNE 15, 2012

Holders of Hydro Bond Series 10 Floating Rate Bonds have the option of redeeming all or part of their holdings during the upcoming redemption of June 15, 2011. Please note no redemption requests will be accepted prior to June 1, 2011.

If you wish to redeem all or part of your holdings the procedure is as follows:

1. All redemption requests must be made directly to Valiant Trust Company, the Registrar,
2. Notice may be given to Valiant Trust Comapny by either of two methods:
   1. By phoning Valiant Trust Company at 1-866-313-1872 Monday to Friday, during the hours of 8:00 a.m. to 4:30 p.m. Please have your Transaction Confirmation form, and information regarding the bank account to which the payment is to be made, available when you call. The Transaction Confirmation form was mailed to you shortly after your purchase of these bonds.
      OR
   2. By completing and signing the Redemption/Transfer Form which was included with the Transaction Confirmation.
      

      The completed form should be mailed to:

      Valiant Trust Company
      #310, 606-4Th Street S.W.
      Calgary, AB
      T2P 1T1
      or by fax to Valiant Trust Company at 1-855-375-6916

   In the case of corporate bondholders, (example "ABC Company") a request for redemption must be made in writing and must be accompanied by acceptable evidence of authority to sign on behalf of the corporate bondholder.

3. If you wish to receive payment on June 15, 2011, your request must be received by Valiant Trust Company on or before June 9, 2011. If your request is received between June 10 - 15, payment will be credited to your bank account on June 21, 2011. All requests for redemption must be received no later than June 15, 2011.
4. The amount due to you will include the par value of the bonds redeemed. The amount of interest will be deposited separately from the principal amount of bonds you are redeeming. Payments of principal and interest will be made by direct deposit to your bank account according to information on file as of May 31, 2011.

   Any changes to banking information must be received by the Registrar in writing accompanied by a void cheque on or before May 26, 2011. Please contact Valiant Trust Company (by mail or fax as indicated above) to make any changes to your bank information. If a void cheque cannot be provided, the Registrar requires a direct deposit authorization form/letter completed by your financial institution. The form/letter must include the financial institution's logo and domicile stamp with the branch address and be signed by an authorized signing officer of the financial institution. Please include the name and telephone number of the financial institution representative. The form/letter must also include your banking information (transit number, account number) and your name and address.