Company: TCPA
Filing Date: 2025-10-06
Form Type: SUPPL
Source: 0001193125-25-231083
Chunk: 28

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-06
Form: SUPPL
Chunk 28
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 Such deferral will not constitute an event of default or any other breach under the Indenture or the Notes. Deferred interest will accrue, compounding on each subsequent Interest Payment Date, until paid. A Deferral Period terminates on any Interest Payment Date where the Corporation pays all accrued and unpaid interest on such date. No Deferral Period may extend beyond the Maturity Date. We will give the holders of the Notes (the “ Noteholders”) written notice of our election to commence or continue a Deferral Period at least 10 and not more than 60 days before the earlier of: (a) the next Interest Payment Date; and (b) the date upon which we are required to give notice to the NYSE or any applicable self-regulatory organization or to Noteholders of the record or payment date of the related interest payment. Dividend Stopper Undertaking Unless the Corporation has paid all accrued and unpaid interest on the Notes:

| • |     | neither the Corporation nor TCE will declare any dividends on the Dividend Restricted Shares (other than stock                                                                                    
 dividends on Dividend Restricted Shares) or make any payment to holders of any of the Dividend Restricted Shares in respect of dividends not declared or paid on such Dividend Restricted Shares; |

| • |     | the Corporation will not pay any interest on Parity Notes or make any payment to holders of any of the Parity 
 Notes in respect of interest not paid on such Parity Notes;                                                   |

| • |     | neither the Corporation nor TCE will redeem, purchase or otherwise retire any Dividend Restricted Shares (except                                                                                                                                
 (A) out of the net cash proceeds of a substantially concurrent issue of Dividend Restricted Shares or (B) pursuant to any purchase obligation, sinking fund, retraction privilege or mandatory redemption provisions attaching to any series of 
 Dividend Restricted Shares); and                                                                                                                                                                                                                |

| • |     | the Corporation will not redeem, purchase or otherwise retire any Parity Notes |

(the “ Dividend Stopper Undertaking”). “ Dividend Restricted Shares” means, collectively, the common shares and preferred shares of each of the Corporation and TCE. “ Parity Notes” means any class or series of our indebtedness currently outstanding or hereafter created that ranks on a parity with the Notes as to distributions upon liquidation, dissolution or winding-up. It is in our interest to ensure that interest on the Notes is timely paid so as to avoid triggering the Dividend Stopper Undertaking. TCE’s obligations described above will automatically terminate and be of