TRANSFORMED PORTFOLIO TOWARDS ACTIVITIES WITH FAVOURABLE LONG-TERM OUTLOOK

tc⚫ RETURNING CAPITAL TO SHAREHOLDERS Dividend yield¹ 6.7% Vs. a Dividend yield of ~3.2% for the TSX composite index Payout Ratio² -38% Dividend Supported by Strong Cash Flow Generation and Profitability اشا Growth 9.4% Average Annual Dividend Growth Rate (1993-2023) Dividend yield calculated as at January 11th 2024 Payout ratio (average 5 years) = Dividends per Share / Adj. Earnings per Share ཥ Track Record > 30 Years Distributing a Quarterly Dividend Since 1993 24 | tc ● TRANSCONTINENTAL

View entire presentation