Company: TCPA
Filing Date: 2025-02-14
Form Type: 40-F
Source: 0001232384-25-000018
Chunk: 3

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-02-14
Form: 40-F
Chunk 3
---
     | 333-250988       |
| F-10                          |     | 333-252123       |
| TransCanada PipeLines Limited |     |                  |
| F-10                          |     | 333-267323       |
| F-10                          |     | 333-283633       |

### EXPLANATORY NOTE
TransCanada PipeLines Limited (“TransCanada PipeLines”) is a wholly owned subsidiary of TC Energy Corporation (“TC Energy”). As of the date of filing of this Form 40-F, TransCanada PipeLines is relying on the continuous disclosure documents filed by TC Energy pursuant to an exemption from the requirements of National Instrument 51-102 - Continuous Disclosure Obligations and as provided in the decision of the Alberta Securities Commission and the Ontario Securities Commission in Re TransCanada Corporation, 2019 ABASC 1 , issued on January 3, 2019. Consistent with the exemptive relief, information contained in this Form 40-F is that provided by TC Energy except as indicated below.

### AUDITED CONSOLIDATED FINANCIAL STATEMENTS AND

### MANAGEMENT'S DISCUSSION & ANALYSIS
Except sections specifically referenced below which shall be deemed incorporated by reference herein and filed, no other portion of the TC Energy 2024 Management's discussion and analysis and audited consolidated financial statements to shareholders, except as otherwise specifically incorporated by reference in the TC Energy Annual information form, shall be deemed filed with the U.S. Securities and Exchange Commission (the "Commission") as part of this report under the Exchange Act .

### A. Audited Consolidated Financial Statements
For audited consolidated financial statements, including the auditors' report, see pages 139 through 226 of the TC Energy 2024 Management's discussion and analysis and audited consolidated financial statements included herein.

### B. Management's Discussion and Analysis
For management's discussion and analysis, see pages 9 through 138 of the TC Energy 2024 Management's discussion and analysis and audited consolidated financial statements included herein under the heading "Management's discussion and analysis".

C. Management's Report on Internal Control over Financial Reporting

For management's report on internal control over financial reporting, see "Management's Report on Internal Control over Financial Reporting" that accompanies the audited consolidated financial statements on page 139 of the TC Energy 2024 Management's discussion and analysis and audited consolidated financial statements included herein.

### UNDERTAKING
Each Registrant undertakes to make available, in person or by telephone, representatives