Record date is determined for South Bow spinoff

Core Viewpoint - TC Energy Corporation is proceeding with the spinoff of its Liquids Pipelines business into a new entity named South Bow Corporation, with key dates and trading arrangements outlined for shareholders [1][2][3][4]. Group 1: Spinoff Details - The distribution record date for the spinoff is set for September 25, 2024, with the effective date expected to be October 1, 2024 [1][2]. - Shareholders of TC Energy will retain their interests in TC Energy while also receiving a pro rata interest in South Bow [1]. - The spinoff has received necessary tax rulings and approvals from shareholders and the court [2]. Group 2: Trading Arrangements - "Due bill" trading for TC Energy Common Shares will commence on September 25, 2024, and end on October 1, 2024, under the designation TRP on both TSX and NYSE [3]. - An "if, as and when issued" trading market will also be established for both TC Energy and South Bow Common Shares during the same period [4]. - Regular trading for TC Energy Common Shares will resume on October 2, 2024, while South Bow Common Shares are expected to begin trading on the TSX on the same date and on the NYSE around October 7, 2024 [5]. Group 3: Dividend Information - Both TC Energy and South Bow plan to declare independent dividends for the quarter ending December 31, 2024, on November 7, 2024, with payments expected on January 31, 2025 [6]. Group 4: South Bow Overview - South Bow is positioned as a strategic liquids pipelines company, connecting Canadian crude oil supply to U.S. refining markets, with a focus on disciplined capital allocation and sustainable dividends [9][13]. - The company operates 4,900 kilometers (3,045 miles) of crude oil pipeline infrastructure and aims to strengthen its financial position while pursuing low-risk investments [9][13].