Company: TCPA
Filing Date: 2025-10-06
Form Type: SUPPL
Source: 0001193125-25-231083
Chunk: 8

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-06
Form: SUPPL
Chunk 8
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CE and South Bow Corporation;                                                                                  |

| • |     | regulatory decisions and outcomes; |

| • |     | planned and unplanned outages and the utilization of our pipelines, power and storage assets; |

| • |     | integrity and reliability of our assets; |

| • |     | anticipated construction costs, schedules and completion dates; |

| • |     | 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 labor 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:

| • |     | the listing of the Notes on the NYSE on the anticipated timing and on customary conditions and the trading of the 
 Notes thereon in accordance with current expectations;                                                            |

| • |     | realization of expected impacts from acquisitions and divestitures, including the spinoff transaction involving 
 TCE and South Bow Corporation;                                                                                  |

| • |     | our ability to successfully implement our strategic priorities 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; |

S-3

| • |     | 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, labor, 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;                                                                                      |

| • |