Company: TCPA
Filing Date: 2025-10-06
Form Type: SUPPL
Source: 0001193125-25-231083
Chunk: 54

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-06
Form: SUPPL
Chunk 54
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 the Tax Act, all proposed amendments to the Tax Act publicly announced prior to the date of
this prospectus supplement (the “Proposed Amendments”) and counsel’s understanding of the current published administrative policies and assessing practices of the Canada Revenue Agency in effect as of the date hereof. This
summary is not exhaustive of all possible Canadian federal income tax considerations applicable to a Non-Resident Holder and, other than the Proposed Amendments, does not anticipate any changes in law or
administrative practice, nor does it take into account provincial, territorial or foreign tax considerations, which may differ significantly from those discussed herein. There can be no assurance that the Proposed Amendments will be enacted as
proposed or at all. Special rules, which are not discussed below, may apply to a Non-Resident Holder that is an insurer which carries on an insurance business in Canada and elsewhere. This summary assumes that
no amount paid or payable as, or on account or in lieu of payment of, interest (including any amounts deemed to be interest) on the Notes will be in respect of a debt or other obligation to pay an amount to a person who does not deal at arm’s
length with the Corporation for purposes of the Tax Act. This summary further assumes that no amount paid or payable to a Non-Resident Holder will be the deduction component of a “hybrid mismatch
arrangement” under which the payment arises within the meaning of paragraph 18.4(3)(b) of the Tax Act.

This summary is of a general nature only and is not, and is not intended to be, and should not be construed to be, legal or tax advice to any particular Non-ResidentHolder and no representation with respect to the income tax consequences to any particular Non-ResidentHolder is made. Prospective purchasers of Notes should consult their own tax advisors with respect to the tax consequences of acquiring, holding and disposing of Notes having regard to their own particular circumstances.

Under the Tax Act, amounts paid or credited, or deemed to be paid or
credited, on the Notes to a Non-Resident Holder by the Corporation as, on account of, in lieu of, or in satisfaction of, interest, premium or principal will be exempt from Canadian non-resident withholding tax. No other taxes on income (including taxable capital gains) will be payable under the Tax Act by a Non-Resident Holder in respect of the
acquisition, holding, redemption or disposition of a Note by the Non-Resident Holder, or the receipt of