TC Energy Corporation 2019 Annual information form February 12, 2020 TED Contents PRESENTATION OF INFORMATION . 2 FORWARD-LOOKING INFORMATION . 2 TC ENERGY CORPORATION . 4 Corporate structure . 4 Intercorporate relationships . 4 GENERAL DEVELOPMENT OF THE BUSINESS . 5 Natural Gas Pipelines . 5 Liquids Pipelines . 12 Power and Storage . 14 BUSINESS OF TC ENERGY . 15 Natural Gas Pipelines . 15 Liquids Pipelines . 15 Regulation of Natural Gas Pipelines and Liquids Pipelines . 16 Power and Storage . 17 GENERAL . 18 Employees . 18 Health, safety, sustainability and environmental protection and social policies . 18 RISK FACTORS . 20 DIVIDENDS . 21 DESCRIPTION OF CAPITAL STRUCTURE . 21 Share capital . 21 CREDIT RATINGS . 24 Moody's . 25 S&P . 25 Fitch . 25 DBRS . 26 MARKET FOR SECURITIES . 27 Common shares . 27 Preferred shares . 28 DIRECTORS AND OFFICERS . 29 Directors . 29 Board committees . 31 Officers . 32 Conflicts of interest . 33 CORPORATE GOVERNANCE . 34 AUDIT COMMITTEE . 35 Relevant education and experience of members . 35 Pre-approval policies and procedures . 37 External auditor service fees . 37 LEGAL PROCEEDINGS AND REGULATORY ACTIONS . 38 TRANSFER AGENT AND REGISTRAR . 38 MATERIAL CONTRACTS . 38 INTEREST OF EXPERTS . 38 ADDITIONAL INFORMATION . 38 GLOSSARY . 39 SCHEDULE A . ..