Mr. Gavin Wylie reports

TC ENERGY ANNOUNCES CONSIDERATION OF U.S. JUNIOR SUBORDINATED NOTES OFFERING BY TRANSCANADA PIPELINES LIMITED

TC Energy Corp.'s TransCanada PipeLines Ltd. (TCPL) is considering an offering of United States junior subordinated notes.

If a successful offering is completed, the company intends to use the net proceeds to redeem its issued and outstanding cumulative redeemable first preferred shares, Series 11, pursuant to their terms, to reduce indebtedness as well as for general corporate purposes. There is no certainty that TCPL will ultimately complete the offering being considered or as to the timing or terms on which such an offering might be completed.

It is expected that, if the offering is commenced, the notes would be issued by way of a prospectus supplement to TCPL's short form base shelf prospectus dated Dec. 5, 2024, included in its registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission (SEC). A copy of such prospectus supplement will be available free of charge on the SEC website or potential investors may request such prospectus supplement from Morgan Stanley & Co. LLC toll-free at 1-866-718-1649, BofA Securities toll-free at 1-800-294-1322, J.P. Morgan Securities LLC collect at 1-212-834-4533, RBC Capital Markets LLC toll-free at 1-866-375-6829 or Wells Fargo Securities LLC toll-free at 1-800-645-3751.

About TC Energy Corp.

The company is a leader in North American energy infrastructure, spanning Canada, the United States and Mexico. Every day, the company's dedicated team proudly connects the world to the energy it needs, moving over 30 per cent of the cleaner-burning natural gas used across the continent. Complemented by strategic ownership and low-risk investments in power generation, the company's infrastructure fuels industries and generates affordable, reliable and sustainable power across North America, while enabling LNG (liquefied natural gas) exports to global markets.

The company's business is based on the connections the company makes. By partnering with communities, businesses and leaders across its extensive energy network, the company unlocks opportunity today and for generations to come.

TC Energy's common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP.

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