Company: TCPA
Filing Date: 2025-10-06
Form Type: SUPPL
Source: 0001193125-25-231083
Chunk: 31

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-06
Form: SUPPL
Chunk 31
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 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 respect to any Note, and the Corporation has determined that the obligation cannot be avoided by the use of reasonable available measures.

Prior to November 1, 2030, upon or following the occurrence of a Rating 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.$25principal amount of Notes will be equal to 102% of the principal amount thereof, together with
accrued and unpaid interest to but excluding the date fixed for redemption.

A “Rating Event” means Moody’s
Investors Service, Inc., S&P Global Ratings, DBRS Limited or Fitch Ratings, Inc. that then publishes a rating for TCE or the Corporation (a “rating agency”) amends, clarifies or changes the criteria it uses to assign equity
credit to securities such as the Notes, which amendment, clarification or change results in (a) the shortening of the length of time the Notes are assigned a particular level of equity credit by that rating agency as compared to the length of
time they would have been assigned that level of equity credit by that rating agency or its predecessor on the initial issuance of the Notes; or (b) the lowering of the equity credit (including up to a lesser amount) assigned to the Notes by
that rating agency compared to the equity credit assigned by that rating agency or its predecessor on the initial issuance of the Notes.

If a redemption date falls on a day that is not a business day, such redemption date will be postponed to the next business day, and no
further interest will accrue in respect of such postponement.

Provision of Financial Information

The Corporation will file with the Trustee, within 15 days after the same are so required to be filed with the SEC, copies of its annual
report and of the information, documents and other reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe