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Why invest?

The need for natural gas continues to increase as society seeks this cleaner-burning energy source for power, heating and cooling requirements 

Our low-risk, highly contracted business serves these needs with the safe, reliable and responsible operation of our natural gas transportation network. Our assets are highly connected to TC Energy’s North American network, providing upstream and downstream benefits.

TC PipeLines, LP has consistently paid distributions since our inception in 1999. Our solid financial position enables us to pursue organic growth opportunities that take full advantage of our existing natural gas infrastructure.

We believe this model will continue to deliver solid returns for our investors going forward.

With our sustainable natural gas infrastructure footprint, financial strength and careful management, we’ve proven we can adapt to change and grow within the energy industry.”

- Nathan Brown
President, TC PipeLines, LP

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Track record of delivering long-term value to unitholders

  • 42% total unitholder return in 2019
  • Stable cash distributions, with a yield of 10.2% as at September 30, 2020
  • Maintained distribution of $0.65 per common unit for Q3 2020

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Low-risk business profile

  • ~90% of EBITDA underpinned by long-term, take-or-pay contracts, providing cash flow certainty

  • 90% of transmission customers are rated to be of investment-grade credit quality or highly creditworthy*

  • Strong competitive position linking prolific, low-cost basins to important demand centers

*Based on independent credit ratings and internal credit assessments as of June 30, 2020.

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Solid financial position

  • Distribution coverage of 1.2x for Q2 2020
  • Healthy bank leverage ratio of 3.9x as at June 30, 2020
  • Investment-grade credit ratings from Standard & Poor’s and Moody’s

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Track record of delivering long-term value to unitholders

  • Capital discipline enables self-funded organic growth
  • $700 million of capital projects through 2023
  • Low-risk, value-creating projects supported by long-term, take-or-pay contracts

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