This MD&A covers TCPL’s financial position and operations as at and for the year ended December 31, 2009.

Comparable EBITDA now expected to be at the upper end of 2023 outlook. TC Energy Corporation (TSX, NYSE: TRP) released its third quarter results today. François Poirier, TC Energy’s President and Chief Executive Officer commented, “During the third quarter, we made monumental progress on Coastal GasLink and have achieved mechanical completion ahead of our year-end target...

The document listed below in this Section and filed as Exhibit 99.1 to this Form 6-K is hereby filed with the Securities and Exchange Commission for the purpose of being and hereby is incorporated by reference into Registration Statement on Form F-9 (Reg. No. 333-121265) under the Securities Act of 1933, as amended.

This MD&A covers TCPL’s financial position and operations as at and for the year ended December 31, 2008.