Company: TCPA
Filing Date: 2025-10-08
Form Type: SUPPL
Source: 0001193125-25-233745
Chunk: 67

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-08
Form: SUPPL
Chunk 67
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 and the entire share capital of which is owned by one or more individuals, each of whom is an accredited investor; or |

| b. | a trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments and each                                                                                                                                 
 beneficiary of the trust is an individual who is an accredited investor, securities (as defined in Section 239(1) of the SFA) of that corporation or the beneficiaries’ rights and interest (howsoever described) in that trust shall not be 
 transferred within six months after that corporation or that trust has acquired the Notes pursuant to an offer made under Section 275 of the SFA, except:                                                                                    |

| i. | to an institutional investor under Section 274 of the SFA or to a relevant person (as defined in                                       
 Section 275(2) of the SFA), or to any person arising from an offer referred to in Section 275(1A), or Section 276(4)(i)(B) of the SFA; |

| ii. | where no consideration is or will be given for the transfer; |

| iii. | where the transfer is by operation of law; |

| iv. | as specified in Section 276(7) of the SFA; or |

| v. | as specified in Regulation 32 of the Securities and Futures (Offers of Investments) (Shares and Debentures) 
 Regulations 2005 of Singapore.                                                                              |

Singapore Securities and Futures Act Product Classification—Solely for the purposes of its obligations pursuant to Sections 309B(1)(a) and 309B(1)(c) of the SFA, the Corporation has determined, and hereby notifies all relevant persons (as defined in Section 309A of the SFA) that the Notes are “prescribed capital markets products” (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12:Notice on the Sale of Investment Products and MAS Notice FAA-N16:Notice on Recommendations on Investment Products). LEGAL MATTERS Certain matters relating to the issue and sale of the Notes will be passed upon on our behalf by Blake, Cassels & Graydon LLP, as to matters of Canadian law, and by White & Case LLP, as to matters of U.S. law. White & Case LLP will rely upon the opinion of Blake, Cassels & Graydon LLP as to matters of Canadian law. The statements