The Management’s Discussion and Analysis dated March 1, 2005 should be read in conjunction with the audited consolidated financial statements of TransCanada PipeLines Limited (TCPL or the company) and the notes thereto for the year ended December 31, 2004. Amounts are stated in Canadian dollars unless otherwise indicated.

In accordance with Certificate Condition 21 and Condition 5 of the Order, NGTL encloses the Commitment Tracking Table for the Project. The reporting period for this submission is February 15, 2017 to March 15, 2017.