Company: TCPA
Filing Date: 2025-10-08
Form Type: SUPPL
Source: 0001193125-25-233745
Chunk: 54

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-08
Form: SUPPL
Chunk 54
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 Notes having regard to their own particular circumstances.

Under the Tax Act, amounts paid or credited, or deemed to be paid or
credited, on the Notes to a Non-Resident Holder by the Corporation as, on account of, in lieu of, or in satisfaction of, interest, premium or principal will be exempt from Canadian non-resident withholding tax. No other taxes on income (including taxable capital gains) will be payable under the Tax Act by a Non-Resident Holder in respect of the
acquisition, holding, redemption or disposition of a Note by the Non-Resident Holder, or the receipt of interest, premium or principal thereon by the Non-Resident Holder
solely as a consequence of such acquisition, holding, redemption or disposition of a Note.

UNDERWRITING

Pursuant to an underwriting agreement (the “Underwriting Agreement”) dated October , 2025 between us and the
Underwriters, for whom Morgan Stanley & Co. LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC are acting as representatives, we have agreed to sell to the Underwriters, and the
Underwriters have severally (and not jointly or jointly and severally) agreed

S-33

to purchase from us, as principals, subject to the terms and conditions of the Underwriting Agreement, the following respective principal amounts of Notes listed opposite their names below.

| Underwriters                        |     | Principal       
 Amount of Notes |             |
| Morgan Stanley & Co. LLC            |     | U.S.$           |  57,400,000 |
| BofA Securities, Inc.               |     | U.S.$           |  57,400,000 |
| J.P. Morgan Securities LLC          |     | U.S.$           |  57,400,000 |
| RBC Capital Markets, LLC            |     | U.S.$           |  57,400,000 |
| Wells Fargo Securities, LLC         |     | U.S.$           |  57,400,000 |
| Barclays Capital Inc.               |     | U.S.$           |   7,000,000 |
| BBVA Securities Inc.                |     | U.S.$           |   7,000,000 |
| Citigroup Global Markets Inc.       |     | U.S.$           |   7,000,000 |
| Deutsche Bank Securities Inc.       |