2022 Investor Day Presentation

LIQUIDS FUNDAMENTALS North American oil production expected to remain robust MM bbl/d 20 20 Crude oil production, North America Global oil demand MMbbl/d 120 15 10 5 80 40 0000 00000 00000 0000000000 0 0 2022 2030 2050 Canadian production (TCOO 2022) U.S. production (TCOO 2022) 2022 North American demand (Inflections 2022) Other global demand (Inflections 2022) 2030 2050 Note: MMbbl/d = Million barrels per day Sources: TC Energy Oil Fundamentals; TC Energy Oil Outlook (TCOO 2022). IHS Markit's Annual Strategic Workbook, 2022 (now a part of S&P Global Commodity Insights), O2022 by S&P Global Inc. All rights reserved. + RESILIENT SUPPLY Canadian production expected to remain resilient in the long run versus U.S. ROBUST REFINING ACCESS Providing direct access to the largest refineries in the world, PADD 2 and PADD 3 + DIRECT TIDEWATER LINK Export market egress to supply strong global demand outlook 14

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