2022 Investor Day Presentation

FINANCIAL STRENGTH AND FLEXIBILITY Capital rotation to accelerate deleveraging target from 2026 Top-tier credit ratings TransCanada PipeLines Limited credit ratings and outlook reaffirmed post-August 4, 2022 equity issuance. S&P Global BBB+ Stable MOODY'S Baa1 Stable A + Outlook results in debt-to-EBITDA below 4.75x target by 2026 Asset sales to accelerate target + Provides significant optionality to: Reduce leverage Fund future growth Increase dividends Fitch Ratings A- Negative MORNINGSTAR DBRS (low) Stable 36

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