Company: TCPA
Filing Date: 2025-02-19
Form Type: SUPPL
Source: 0001193125-25-029207
Chunk: 26

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-02-19
Form: SUPPL
Chunk 26
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 with respect to such redemption may be performed by another Person.

Tax Treatment

The Corporation agrees and each holder (and beneficial owner) of the Notes will, by accepting any Notes (or a beneficial interest therein), be
deemed to agree to treat the Notes as indebtedness of the Corporation for United States federal, state and local income tax purposes, unless otherwise required by a change in law after the date on which the Notes are issued or the good faith
resolution of a tax audit or other tax proceeding.

Redemption on Tax Event or Rating Event

At any time upon or following the occurrence of a Tax Event, the Corporation may, at its option, on giving not more than 60 nor less than
10 days’ notice to the Noteholders, redeem all (but not less than all) of the Notes. The redemption price per U.S.$1,000 principal amount of Notes will be equal to 100% of the principal amount thereof, together with accrued and unpaid
interest to but excluding the date fixed for redemption.

A “Tax Event” means the Corporation (or its successor)
determines that (1) as a result of (A) any amendment to or change (including any announced prospective change) in the laws or related regulations of any Relevant Taxing Jurisdiction or (B) any amendment to or change in an
interpretation or application of such laws or regulations by any legislative body, court, governmental agency or regulatory authority announced or becoming effective on or after the date hereof, the Corporation has or will become obligated to pay,
on the next Interest Payment Date for the Notes, additional amounts with respect to any Note as described under “Payment of Additional Amounts”, or there is more than an insubstantial risk that interest payable on the Notes is not
deductible, or within 90 days would not be deductible, in whole or in part, by the Corporation for Canadian federal income tax purposes, or (2) on or after the date of this prospectus supplement, any action has been taken by any taxing
authority of, or any decision has been rendered by a court in, any Relevant Taxing Jurisdiction, including any of those actions specified in (1) above, whether or not the action was taken or decision rendered with respect to the Corporation, or
any change, amendment, application or interpretation is officially proposed, which, in the opinion of the Corporation’s counsel, will result in the Corporation becoming obligated to pay, on the next Interest Payment Date for the Notes,
additional amounts with