Company: TCPA
Filing Date: 2025-10-08
Form Type: SUPPL
Source: 0001193125-25-233745
Chunk: 51

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-08
Form: SUPPL
Chunk 51
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. Accordingly, if a U.S. holder sells a Note during a Deferral Period, although such U.S. holder will not receive any of the interest that accrued on that Note during the Deferral Period, such U.S. holder will be required to report any OID
accrued while it held such Note as income for U.S. federal income tax purposes.

S-31

Sale, Exchange, Retirement, Redemption or Other Taxable Disposition of Notes

Upon the sale, exchange, retirement, redemption or other taxable disposition of a Note, a U.S. holder generally will recognize gain or loss
equal to the difference, if any, between (i) the amount realized upon such disposition (other than any amount equal to any accrued but unpaid stated interest (and any additional amounts paid with respect thereto), which, if not previously
included in such U.S. holder’s income, will be taxable as ordinary interest income in accordance with the U.S. holder’s method of tax accounting as discussed above) and (ii) such U.S. holder’s adjusted tax basis in the Note.

A U.S. holder’s adjusted tax basis in a Note will generally equal the amount such U.S. holder paid for such Note, increased by any
OID previously accrued by such U.S. holder with respect to such Note, decreased (but not below zero) by any payments received by a U.S. holder other than payments of qualified stated interest with respect to the Note.

Any gain or loss recognized upon the sale, exchange, retirement, redemption or other taxable disposition of a Note generally will be U.S.
source capital gain or loss and will be long-term capital gain or loss if the U.S. holder has held the Note for more than one year at the time of the sale, exchange, retirement, redemption or other taxable disposition.
Non-corporate U.S. holders (including individuals) generally are subject to tax on long-term capital gains at reduced rates. The deductibility of capital losses is subject to limitations. Prospective U.S.
holders should consult their own tax advisors concerning the creditability or deductibility of any non-U.S. income tax imposed on the disposition of Notes in their particular circumstances.

Foreign Financial Assets Reporting

Certain U.S. holders are required to disclose on their U.S. federal income tax returns certain information relating to an interest in the
Notes, subject to certain exceptions (including an exception for Notes held in accounts maintained by certain financial institutions). Prospective U.S. holders should consult their own tax advisors regarding