Company: TCPA
Filing Date: 2025-10-08
Form Type: SUPPL
Source: 0001193125-25-233745
Chunk: 58

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-08
Form: SUPPL
Chunk 58
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 amount of such 
 Notes. The Underwriters’ commission indicated in the table above assumes that no Notes are sold to such institutions.                                                                                                                        |

| (3) | The offering expenses, other than the underwriting commission, are estimated to be U.S.$1,000,000, which will 
 be paid from our general funds.                                                                               |

S-35

Settlement

It is expected that delivery of the Notes will be made on or about the date specified on the cover page of this prospectus supplement, which
will be the third business day (T+3) following the date of this prospectus supplement. Under Rule 15c6-1 of the Exchange Act, trades in the secondary market generally are required to settle in one business day
(T+1), unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes on any date prior to one business day before the settlement date of this offering will be required to specify an alternate
settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade the Notes on any date prior to one business day before the settlement date of this offering should consult their own advisors.

New Issue of Notes

The Notes are a
new issue of securities with no established trading market. We will apply to list the Notes on the NYSE. If approved for listing, trading on the NYSE is expected to commence within 30 days after the Notes are first issued. Listing will be subject to
us fulfilling all the listing requirements of the NYSE and no assurance can be given as to whether the Notes will be accepted for listing on the NYSE or, even if the Notes are accepted for listing on the NYSE, whether an active public trading market
for the Notes will develop and be maintained. The Underwriters may make a market in the Notes after completion of the offering, but will not be obligated to do so and may discontinue any market-making
activities at any time without notice. Therefore, no assurance can be given as to the liquidity of the trading market for the Notes. If an active public trading market for the Notes does not develop, the market price and liquidity of the Notes may
be adversely affected. See “Risk Factors”.

Price Stabilization and Short Positions

In connection with the offering, the Underwriters may purchase and sell the Notes in the open market. These transactions may include short
sales, purchases to cover positions created by short sales and stabilizing transactions.