National Storage Mechanism | Additional information

24^th Feb 2022

Not for distribution, directly or indirectly, in or into the United States or
any jurisdiction in which such distribution would be unlawful.

Province of Quebec
(the Issuer)

Post-stabilisation Period Announcement

Further to the pre-stabilisation period announcement dated 18^th Jan 2022 Deutsche Bank AG, Frankfurt (contact: Debt Syndicate, Phone No. +44 207 547 6885) hereby gives notice that the Stabilisation Manager(s) named below undertook stabilisation (within the meaning of Article 3.2(d) of the Market Abuse Regulation (EU/596/2014)), and also as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 in relation to the offer of the following securities, as set out below.

Securities:

Issuer:	Province of Quebec

Guarantor (if any):

Aggregate nominal amount:	EUR 2,250,000,000

Description:	EUR 2.25Bn, 0.5% FXD, due 25^th Jan 2032
ISIN Code:	XS2435787283

Issue/reoffer price:	99.244

Spread over benchmark:	DBR 0 02/15/32 +60.6bps


Stabilisation Manager(s):

Name(s):	Deutsche Bank AG BNP Paribas JP Morgan Natwest Markets Société Générale

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

This announcement is not an offer of securities for sale into the United States. The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There has not been and will not be a public offer of the securities in the United States.