2021 Fourth Quarter Financial Results Conference Call Presentation

As an early leader within the energy industry, TC Energy has engaged with Indigenous groups for more than 40 years. We recognize the importance of Indigenous rightsholders’ voices and their participation in the work we do and are committed to supporting the growth of resilient Indigenous communities.

“North America has the resources and the responsibility to provide the world and its allies with clean energy. The country that has the vision and courage to look beyond its borders is the one that’s going to have the greatest impact on solving the global emissions problem while delivering prosperity to its people.” — TCE CEO François Poirier

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.