Company: TCPA
Filing Date: 2025-02-14
Form Type: 40-F
Source: 0001232384-25-000018
Chunk: 6

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-02-14
Form: 40-F
Chunk 6
---

• expected impact of future tax and accounting changes

• commitments and targets contained in our Report on Sustainability and GHG Emissions Reduction Plan, including statements related to our GHG emissions intensity reduction goals

• expected industry, market and economic conditions, and ongoing trade negotiations, including their impact on our customers and suppliers.

Forward-looking statements do not guarantee future performance. Actual events and results could be significantly different because of assumptions, risks or uncertainties related to our business or events that happen after the date of this document.

Our forward-looking information is based on the following key assumptions and subject to the following risks and uncertainties:

#### Assumptions
• realization of expected benefits from acquisitions and divestitures, including the Spinoff Transaction

• 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 labour prices

• interest, tax and foreign exchange rates

• nature and scope of hedging.

#### Risks and uncertainties
• realization of expected benefits from acquisitions and divestitures, including the Spinoff Transaction

• our ability to successfully implement our strategic priorities, including the Focus Project, 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

• 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, labour, 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

• our ability to realize the value of tangible assets and contractual recoveries

• competition in the businesses in which we operate

• unexpected or unusual weather

• acts of civil disobedience

• cybersecurity and technological developments

• sustainability-related risks including climate-related risks and the impact