Company: TCPA
Filing Date: 2025-02-19
Form Type: SUPPL
Source: 0001193125-25-029207
Chunk: 49

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-02-19
Form: SUPPL
Chunk 49
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 discussed herein. There can be no assurance that the Proposed Amendments will be enacted as proposed or at all. Special rules, which are not discussed below, may apply to a Non-ResidentHolder that is an insurer which carries on an insurance business in Canada and elsewhere. This summary assumes that no amount paid or payable as, or on account or in lieu of payment of, interest (including any amounts deemed to be interest) on the Notes will be in respect of a debt or other obligation to pay an amount to a person who does not deal at arm’s length with the Corporation for purposes of the Tax Act. This summary further assumes that no amount paid or payable to a Non-ResidentHolder will be the deduction component of a “hybrid mismatch arrangement” under which the payment arises within the meaning of paragraph 18.4(3)(b) of the Tax Act. This summary is of a general nature only and is not, and is not intended to be, and should not be construed to be, legal or tax advice to any particular Non-ResidentHolder and no representation with respect to the income tax consequences to any particular Non-ResidentHolder is made. Prospective purchasers of Notes should consult their own tax advisors with respect to the tax consequences of acquiring, holding and disposing of Notes having regard to their own particular circumstances. Under the Tax Act, the payment of interest, principal or premium, if any, on the Notes to a Non-ResidentHolder by the Corporation will be exempt from Canadian non-residentwithholding tax. No other taxes on income or capital gains will be payable under the Tax Act by a Non-ResidentHolder in respect of the acquisition, holding, redemption or disposition of a Note by the Non-ResidentHolder, or the receipt of interest, principal or premium thereon by the Non-ResidentHolder solely as a consequence of such acquisition, holding, redemption or disposition of a Note. UNDERWRITING Pursuant to an underwriting agreement (the “Underwriting Agreement”) dated , 2025 between us and the Underwriters, for whom Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and SMBC Nikko Securities America, Inc. 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 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.

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