Company: TCPA
Filing Date: 2025-10-08
Form Type: SUPPL
Source: 0001193125-25-233745
Chunk: 11

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-08
Form: SUPPL
Chunk 11
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us
about the contents of any contract, agreement or other document referred to are not necessarily complete, and, in each instance, prospective investors should refer to the exhibits for a complete description of the matter involved. Each such
statement is qualified in its entirety by such reference.

Subject to the exemptive relief in the Decision, we file annual and quarterly
financial information, material change reports, business acquisition reports and other material with the securities commission or other similar authority in each of the provinces and territories of Canada and with the SEC. Under the
multijurisdictional disclosure system adopted by the U.S., documents and other information that we file with the SEC may be prepared in accordance with the disclosure requirements of Canada, which are different from those of the U.S. Prospective
investors may read and download any public document that we have filed with the securities commission or other similar authority in each of the provinces and territories of Canada on SEDAR+ at www.sedarplus.ca. Prospective investors may read and
download the documents that we have filed with the SEC on EDGAR at www.sec.gov.

S-6

SUMMARY This summary highlights information contained elsewhere in this prospectus supplement and the prospectus. It is not complete and may not contain all of the information that you should consider before investing in the Notes. You should read this entire prospectus supplement and the prospectus, including the information incorporated by reference in the prospectus, and in particular the section entitled “Risk Factors” in this prospectus supplement and in such incorporated documents, as well as our consolidated financial statements, which are incorporated by reference in the prospectus, carefully. The Corporation TCPL operates in two core businesses—Natural Gas Pipelines and Power and Energy Solutions. In order to provide information that is aligned with how management decisions about our businesses are made and how performance of our businesses is assessed, our results are reflected in four operating segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines and Power and Energy Solutions. We also have a Corporate segment consisting of corporate and administrative functions that provide governance, financing and other support to our business segments. TCE’s principal subsidiaries as of December 31, 2024 are indicated in the diagram under the heading “ TC Energy Corporation—Intercorporate Relationships” in the Annual Information Form. Recent Developments On August 14, 2025, the Corporation completed an offering of $1,000,000,000 aggregate principal amount of 5.20