Company: TCPA
Filing Date: 2025-02-20
Form Type: SUPPL
Source: 0001193125-25-030844
Chunk: 66

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-02-20
Form: SUPPL
Chunk 66
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 | 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 labour 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:

| • |     | realization of expected benefits from acquisitions, divestitures, the spinoff Transaction and energy transition; |

| • |     | our ability to successfully implement our strategic priorities, including the Focus Project, 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; |

| • |     | 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; |

| • |     | cost, availability of, and inflationary pressures on, labour, equipment and materials; |

| • |     | availability and market prices of commodities; |

| • |     | access to capital markets on competitive terms; |

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

| • |     | performance and credit risk of our counterparties; |

| • |     | regulatory decisions and outcomes of legal proceedings, including arbitration and insurance claims; |

| • |     | our ability to effectively anticipate and assess changes to government policies and regulations, including those 
 related to the environment;                                                                                      |

| • |     | our ability to realize the value of tangible assets and contractual recoveries; |

| • |     | competition in the businesses in which we operate; |

| • |     | unexpected or unusual weather; |

| • |     | acts of civil disobedience; |

| • |     | cybersecurity and technological developments; |

| • |     | sustainability-related risks; |

| • |     | impact of energy transition on our business; |

2

| • |     | economic conditions in North America, as well as globally; and |

| • |     | global health crises