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

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-02-19
Form: SUPPL
Chunk 25
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 , and (ii) after , 20 , on any Interest Payment Date or Interest Reset Date. The redemption price per U.S.$1,000 principal amount of Notes redeemed on any such day will be 100% of the principal amount thereof, together with accrued and unpaid interest to, but excluding, the date fixed for redemption. Notes that are redeemed shall be cancelled and shall not be reissued. In the event that the Corporation redeems or purchases any of the Notes, the Corporation intends (without thereby assuming a legal obligation) to do so only to the extent the aggregate redemption or purchase price is S-18

equal to or less than the net proceeds, if any, received by the Corporation or TCE from new issuances by the Corporation or TCE or a subsidiary or affiliate of the Corporation or TCE during the
period commencing on the 365th or 366th calendar day, depending upon the actual number of days in the applicable year, prior to the date of such redemption or purchase of securities which are assigned, by S&P at the time of sale or issuance, an
aggregate “equity credit” (or such similar nomenclature used by S&P from time to time) that is equal to or greater than the equity credit assigned to the Notes to be redeemed or repurchased at the time of their issuance (but taking
into account any changes in hybrid capital methodology or another relevant methodology or the interpretation thereof since the issuance of the Notes).

At the Corporation’s discretion, any redemption of the Notes may be subject to one or more conditions precedent, including completion of
an equity or other securities offering, an incurrence of indebtedness or other financing, or any other corporate transaction or event. Notice of any redemption in respect thereof may, at the Corporation’s discretion, be given prior to the
completion of one or more of the transactions or events upon which the redemption is conditioned and such redemption may be partial as a result of only some of the conditions being satisfied. If such redemption is subject to the satisfaction of one
or more conditions precedent, the related notice must describe each such condition, and if applicable, state that, in the Corporation’s discretion, such redemption may not occur and such notice may be rescinded in the event that any or all such
conditions shall not have been satisfied or waived by the applicable date fixed for redemption. In addition, the Corporation may provide in such notice that payment of the redemption price and other amounts owing for the redemption of any Notes and
performance of the Corporation’s obligations