Mr. Gavin Wylie reports

TC ENERGY PROVIDES RESULTS OF SERIES 7 SHARES CONVERSION ELECTIONS

A total of 209,483 of TC Energy Corp.'s 24 million fixed-rate cumulative redeemable first preferred shares, Series 7, were deposited for conversion on April 30, 2024, on a one-for-one basis into floating-rate cumulative redeemable first preferred shares, Series 8.

As previously announced in TC Energy's news release dated April 1, 2024, the conversions are subject to the conditions that: (i) if TC Energy determines that there would be less than one million Series 7 shares outstanding after April 30, 2024, then all remaining Series 7 shares will automatically be converted into Series 8 shares on a one-for-one basis on April 30, 2024; and (ii) alternatively, if TC Energy determines that there would be less than one million Series 8 shares outstanding after April 30, 2024, no Series 7 shares will be converted into Series 8 shares.

As the total number of Series 7 shares tendered for conversion did not meet the threshold set out above, no Series 7 shares will be converted into Series 8 shares on April 30, 2024.

For more information on the terms of, and risks associated with, an investment in the Series 7 shares and the Series 8 shares, please see the corporation's prospectus supplement dated Feb. 25, 2013, which is available on SEDAR+ or on TC Energy's website.

About TC Energy Corp.

TC Energy is a team of over 7,000 energy problem solvers working to safely move, generate and store the energy North America relies on. Today, the company is delivering solutions to the world's toughest energy challenges -- from innovating to deliver the natural gas that feeds liquefied natural gas to global markets, to working to reduce emissions from TC Energy's assets, to partnering with its neighbours, customers and governments to build the energy system of the future. It is all part of how the company continues to deliver sustainable returns for its investors and create value for communities.

We seek Safe Harbor.