TC Energy provides results of Series 1 and Series 2 conversion elections

Core Points - TC Energy Corporation announced the conversion of its fixed rate Cumulative Redeemable First Preferred Shares, Series 1 into floating rate Series 2 Shares and vice versa, effective December 31, 2024 [2][3] - The Series 1 Shares will pay a fixed annualized dividend of 4.939% for a five-year period starting December 31, 2024 [1] - The Series 2 Shares will pay a floating rate quarterly dividend, starting at 5.401% for the first period from December 31, 2024 to March 31, 2025, with rates reset quarterly [8] Share Conversion Details - A total of 42,200 Series 1 Shares will convert to Series 2 Shares, while 3,889,020 Series 2 Shares will convert to Series 1 Shares [2] - Post-conversion, TC Energy will have 18,424,004 Series 1 Shares and 3,575,996 Series 2 Shares outstanding [7] Future Conversion Opportunities - Holders of both Series 1 and Series 2 Shares will have the option to convert their shares again on December 31, 2029, and every five years thereafter [3]