Company: TCPA
Filing Date: 2025-10-08
Form Type: SUPPL
Source: 0001193125-25-233745
Chunk: 7

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-08
Form: SUPPL
Chunk 7
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 not a guarantee of future performance. By its nature, forward-looking information is subject to various assumptions, risks and uncertainties which could cause our actual results and achievements to differ materially from the anticipated results or expectations expressed or implied in such information. Key assumptions on which our forward-looking information is based include, but are not limited to, assumptions about:

| • |     | the listing of the Notes on the NYSE on the anticipated timing and on customary conditions and the trading of the 
 Notes thereon in accordance with current expectations;                                                            |

| • |     | realization of expected impacts from acquisitions and divestitures, including the spinoff transaction involving 
 TCE and South Bow Corporation;                                                                                  |

| • |     | regulatory decisions and outcomes; |

| • |     | planned and unplanned outages and the utilization of our pipelines, power and storage assets; |

| • |     | integrity and reliability of our assets; |

| • |     | anticipated construction costs, schedules and completion dates; |

| • |     | access to capital markets, including portfolio management; |

| • |     | expected industry, market and economic conditions, including the impact of these on our customers and suppliers; |

| • |     | inflation rates, commodity and labor prices; |

| • |     | interest, tax and foreign exchange rates; and |

| • |     | nature and scope of hedging. |

The risks and uncertainties that could cause actual results or events to differ materially from current expectations include, but are not limited to:

| • |     | the listing of the Notes on the NYSE on the anticipated timing and on customary conditions and the trading of the 
 Notes thereon in accordance with current expectations;                                                            |

| • |     | realization of expected impacts from acquisitions and divestitures, including the spinoff transaction involving 
 TCE and South Bow Corporation;                                                                                  |

| • |     | our ability to successfully implement our strategic priorities and whether they will yield the expected benefits; |

| • |     | our ability to implement a capital allocation strategy aligned with maximizing shareholder value; |

| • |     | operating performance of our pipelines, power generation and storage assets; |

| • |     | amount of capacity sold and rates achieved in our pipeline businesses; |

S-3

| • |     | amount of capacity payments and revenues from power generation assets due to plant availability; |

| • |     | production levels within supply basins; |

| • |     | construction and completion of capital projects; |

| •