2022 Investor Day Presentation

BRUCE POWER Continues to create enduring value Low double-digit returns, backed by an investment-grade counterparty and a long-term contract through 2064 $Millions 2,000 Equity income Total capex Distributions 1,500 1,000 500 0 -500 -1,000 Significant sustainable free cash flow when MCR program is completed STRONG RETURN ON INVESTMENT Capital requirements largely funded through distributions • Increasing free cash flow potential following completion of MCR program + KEY PROVISIONS FOR POWER PRICE INCREASE: Uniform price for all generation Adjusted for inflation and other factors on April 1 of each year -1,500 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Source: Bruce Power internal forecast representing TC Energy share of ~48.4% . Adjusted for return on/of MCR capital on April 1 prior to each MCR outage + MITIGATING RISKS • Long-term risks are mitigated contractually • No liability for decommissioning or long-term storage of spent fuel 82

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