TC Power completes spinoff of its Liquids Pipelines enterprise, South Bow Company; TC Power to concern third quarter outcomes on Nov. 7

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• Firm solidifies its place as an industry-leading pure fuel infrastructure and energy and vitality options firm
• Third quarter 2024 outcomes to be issued on Nov. 7, 2024
• Will exhibit strategic imaginative and prescient and outlook at Investor Day on Nov. 19, 2024

CALGARY, Alberta, Oct. 01, 2024 (GLOBE NEWSWIRE) — Information Launch – TC Power Company (TSX, NYSE: TRP) (TC Power or the Firm) at this time introduced that it has accomplished the spinoff of its Liquids Pipelines enterprise into South Bow Company (South Bow).

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“At this time is a pivotal second for TC Power’s future, one which delivers progress on a strategic precedence and our dedication to shareholders to maximise the worth of our property,” stated François Poirier, TC Power’s President and Chief Government Officer. “We’re uniquely positioned as a extremely targeted pure fuel infrastructure and energy and vitality options firm. We are going to proceed to ship enduring shareholder worth, whereas taking part in a important position in assembly rising {industry} and shopper demand for safer, reasonably priced and sustainable vitality throughout North America and globally.”

As a standalone entity, TC Power is positioned to attain larger success by executing a tailor-made technique to totally seize the incremental worth of its distinctive alternative set. Targeted on long-term vitality fundamentals and capital self-discipline, the Firm will preserve its regulated, low-risk and utility-like portfolio.

“On behalf of TC Power, I want the crew at South Bow all the most effective, and I’m excited for the distinctive alternatives that lie forward for them,” stated Poirier. “Rising vitality demand requires all types of vitality, and South Bow is well-placed to ship resilient provide to the strongest demand markets in North America.”

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The TC Power frequent shares will resume “common manner” buying and selling on the TSX and the NYSE on Oct. 2, 2024, beneath the designation TRP. The South Bow frequent shares will start “common manner” buying and selling beneath the designation SOBO on the TSX on Oct. 2, 2024, however won’t commerce “common manner” on the NYSE till one buying and selling day after the U.S. Securities and Alternate Fee (SEC) declares South Bow’s registration assertion on Type 40-F efficient. TC Power at present expects that the South Bow frequent shares will start “common manner” buying and selling on the NYSE on or about Oct. 8, 2024. Estimated proportionate allocation of adjusted price base between TC Power frequent shares and South Bow frequent shares is predicted to be posted on the TC Power and South Bow web sites when out there throughout fourth quarter 2024. Please check with the doc titled South Bow Itemizing Course of – Q&A on the TC Power and South Bow web sites for additional particulars about “due invoice” and “if, as and when issued” buying and selling, in addition to different vital info regarding the completion of the spinoff.

Third quarter 2024 monetary outcomes to be issued on Nov. 7, 2024
TC Power will maintain a teleconference and webcast on Nov. 7, 2024, to debate its third quarter monetary outcomes.

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François Poirier, TC Power President and Chief Government Officer, Sean O’Donnell, Government Vice-President and Chief Monetary Officer, and different members of the manager management crew will talk about the monetary outcomes and Firm developments at 6:30 a.m. MST / 8:30 a.m. EST.

Members of the funding neighborhood and different events are invited to take part by calling 1-844-763-8274 (Canada/U.S.) or 1-647-484-8814 (worldwide). No passcode is required. Please dial in quarter-hour previous to the beginning of the decision. Alternatively, individuals might pre-register for the decision right here. Upon registering, you’ll obtain a calendar reserving by electronic mail with dial in particulars and a novel PIN. This course of will bypass the operator and keep away from the queue. Registration will stay open till the tip of the convention name. Upon registering, you’ll obtain a calendar reserving by electronic mail with dial in particulars and a novel PIN. This course of will bypass the operator and keep away from the queue. Registration will stay open till the tip of the convention name.

A reside webcast of the teleconference might be out there on TC Power’s web site at TC Power — Occasions and displays or through the next URL: https://www.gowebcasting.com/13687. The webcast might be out there for replay following the assembly.

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A replay of the teleconference might be out there two hours after the conclusion of the decision till midnight EST on Nov. 14, 2024. Please name 1-855-669-9658 (Canada/U.S. toll free) or 1-412-317-0088 (Worldwide toll) and enter passcode 8801413#.

TC Power intends to host Investor Day on Nov. 19, 2024
TC Power’s senior management crew will exhibit the Firm’s 2025 strategic priorities, long-term strategic outlook and development aims. events, please check with TC Power’s web site at TC Power – Occasions and displays for extra info as soon as out there.

About TC Power
We’re a crew of seven,000+ vitality drawback solvers working to securely transfer, generate and retailer the vitality North America depends on. At this time, we’re delivering options to the world’s hardest vitality challenges – from innovating to ship the pure fuel that feeds LNG to world markets, to working to cut back emissions from our property, to partnering with our neighbours, prospects and governments to construct the vitality system of the longer term. It’s all a part of how we proceed to ship sustainable returns for our traders and create worth for communities.

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TC Power’s frequent shares commerce on the Toronto (TSX) and New York (NYSE) inventory exchanges beneath the image TRP. To be taught extra, go to us at TCEnergy.com.

FORWARD-LOOKING INFORMATION
This launch comprises sure info that’s forward-looking and is topic to vital dangers and uncertainties (such statements are often accompanied by phrases akin to “anticipate”, “count on”, “imagine”, “might”, “will”, “ought to”, “estimate”, “intend” or different comparable phrases). Ahead-looking statements on this doc might embody, however are usually not restricted to, statements on expectations with respect to: the timing with respect to anticipated “common manner” buying and selling of TC Power frequent shares and South Bow frequent shares on the TSX and the NYSE following the closing of the spinoff, the effectiveness of South Bow’s Type 40-F and timing thereof, the anticipated timing and posting of proportionate adjusted price base allocation on TC Power and South Bow’s web sites, the anticipated {industry} and shopper demand for sustainable vitality and TC Power’s position in delivering it, the flexibility of TC Power to take care of its regulated, low-risk and utility-like portfolio and TC Power’s strategic priorities and long-term outlook, together with its give attention to long-term vitality fundamentals capital self-discipline, and long-term shareholder worth, and the flexibility of South Bow to satisfy rising vitality demand. Ahead-looking statements on this doc are meant to supply TC Power safety holders and potential traders with info concerning TC Power and its subsidiaries, together with administration’s evaluation of TC Power’s and its subsidiaries’ future plans and monetary outlook. All forward-looking statements replicate TC Power’s beliefs and assumptions primarily based on info out there on the time the statements have been made and as such are usually not ensures of future efficiency. As precise outcomes might differ considerably from the forward-looking info, you shouldn’t put undue reliance on forward-looking info and shouldn’t use future-oriented info or monetary outlooks for something apart from their meant goal. We don’t replace our forward-looking info as a result of new info or future occasions, except we’re required to by regulation. For added info on the assumptions made, and the dangers and uncertainties which might trigger precise outcomes to vary from the anticipated outcomes, check with the newest Quarterly Report back to Shareholders and Annual Report filed beneath TC Power’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Alternate Fee at www.sec.gov.

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Media Inquiries:
Media Relations
media@tcenergy.com

403-920-7859 or 800-608-7859

Investor & Analyst Inquiries:
Gavin Wylie / Hunter Mau
investor_relations@tcenergy.com
403-920-7911 or 800-361-6522

PDF out there: http://ml.globenewswire.com/Useful resource/Obtain/2819596f-aa62-4ff9-b046-fb0601d1defc

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