Company: TCPA
Filing Date: 2025-02-19
Form Type: SUPPL
Source: 0001193125-25-029207
Chunk: 11

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-02-19
Form: SUPPL
Chunk 11
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 by the rules and regulations of the SEC. Statements included in this prospectus supplement or included or incorporated by reference in the prospectus about the contents of any contract, agreement or other
document referred to are not necessarily complete, and, in each instance, prospective investors should refer to the exhibits for a complete description of the matter involved. Each such statement is qualified in its entirety by such reference.

Subject to the exemptive relief in the Decision, we file annual and quarterly financial information, material change reports, business
acquisition reports and other material with the securities commission or other similar authority in each of the provinces and territories of Canada and with the SEC. Under the multijurisdictional disclosure system adopted by the U.S., documents and
other information that we file with the SEC may be prepared in accordance with the disclosure requirements of Canada, which are different from those of the U.S. Prospective investors may read and download any public document that we have filed with
the securities commission or other similar authority in each of the provinces and territories of Canada on SEDAR+ at www.sedarplus.ca. Prospective investors may read and download the documents that we have filed with the SEC on EDGAR at www.sec.gov.

S-6

SUMMARY

This summary highlights information contained elsewhere in this prospectus supplement and the prospectus. It is not complete and may not contain all of the information that you should consider before investing in the Notes. You should read this entire prospectus supplement and the prospectus, including the information incorporated by reference in the prospectus, and in particular the section entitled “Risk Factors” in this prospectus supplement and in such incorporated documents, as well as our consolidated financial statements, which are incorporated by reference in the prospectus, carefully.

The Corporation

TCPL operates in two
core businesses - Natural Gas Pipelines and Power and Energy Solutions. In order to provide information that is aligned with how management decisions about our businesses are made and how performance of our businesses is assessed, our results are
reflected in four operating segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines and Power and Energy Solutions. We also have a Corporate segment consisting of corporate and administrative functions that
provide governance, financing and other support to our business segments.

TCE’s principal subsidiaries as of December 31, 2024
are indicated in the diagram under the heading “TC Energy Corporation – Intercorporate Relationships” in the Annual Information Form.

Recent Developments