Company: TCPA
Filing Date: 2025-10-08
Form Type: SUPPL
Source: 0001193125-25-233745
Chunk: 59

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-08
Form: SUPPL
Chunk 59
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 Short sales involve the sale by the Underwriters of a greater principal amount of Notes than they are required to purchase in the offering. The Underwriters may
close out any short position by purchasing Notes in the open market. A short position is more likely to be created if the Underwriters are concerned that there may be downward pressure on the price of the Notes in the open market prior to the
completion of the offering. Stabilizing transactions consist of various bids for or purchases of the Notes made by the Underwriters in the open market prior to the completion of the offering. The Underwriters may also impose a penalty bid,
which occurs when a particular Underwriter repays to the other Underwriters a portion of the underwriting commission received by it because the representatives of the Underwriters have repurchased Notes sold by or for the account of that Underwriter
in stabilizing or short covering transactions. Purchases to cover short positions and stabilizing transactions may have the effect of preventing or slowing a decline in the market price of the Notes. Additionally, these purchases, along with the
imposition of the penalty bid, may stabilize, maintain or otherwise affect the market price of the Notes. As a result, the price of the Notes may be higher than the price that might otherwise prevail. These transactions may be effected in the over-the-counter market or otherwise. Such transactions, if commenced, may be discontinued at any time.

Relationship Between Us and Certain Underwriters

Certain of the Underwriters and their respective affiliates have, from time to time, performed, and in the future may perform, commercial and
investment banking and advisory services for us for which they have received or will receive customary fees and expenses. The Underwriters may, from time to time, engage in transactions with and perform services for us in the ordinary course of
their business.

Each of the Underwriters is, directly or indirectly, a subsidiary or an affiliate of a lender (collectively, the
“Lenders”) which has extended credit facilities (collectively, the “Facilities”) to us or our subsidiaries and to

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which we or our subsidiaries are currently indebted. In addition, certain of the Underwriters, or their subsidiaries or affiliates, may be holders of the Series 11 Preferred Shares. As described
in “Use of Proceeds”, we intend to use the net proceeds from the offering to fund the redemption price of the Series 11 Preferred Shares, to reduce indebtedness of the Corporation and for general corporate purposes. To the extent
that the Underwriters