July 23, 2020, 4:31 p.m. EDT

TC PipeLines, LP announces second quarter 2020 cash distribution

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HOUSTON, July 23, Jul 23, 2020 (GLOBE NEWSWIRE via COMTEX) -- News Release - TC PipeLines, LP /zigman2/quotes/201345449/composite TCP +0.93% (the Partnership) today announced that the board of directors of TC PipeLines GP, Inc., its general partner, declared the Partnership's second quarter 2020 cash distribution of $0.65 per common unit. The distribution is unchanged from the distribution declared for the first quarter of 2020.

This cash distribution is the 85 consecutive quarterly distribution paid by the Partnership and is payable on August 14, 2020 to unitholders of record at the close of business on August 3, 2020.

About TC PipeLines, LP

TC PipeLines, LP is a Delaware master limited partnership with interests in eight federally regulated U.S. interstate natural gas pipelines which serve markets in the Western, Midwestern and Northeastern United States. The Partnership is managed by its general partner, TC PipeLines GP, Inc., a subsidiary of TC Energy Corporation /zigman2/quotes/200192679/composite TRP +0.64% . For more information about TC PipeLines, LP, visit the Partnership's website at www.tcpipelineslp.com .

This release serves as qualified notice to nominees under Treasury Regulation Section 1.1446-4(b)(4) and (d). Nominees, including Brokers, should treat 100 percent of TC PipeLines, LP's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, all of the Partnership's distributions to non-U.S. investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees are treated as the withholding agents responsible for withholding distributions received by them on behalf of non-U.S. investors.

-30-

Media Inquiries:

Hejdi Carlsen / Jaimie Harding

403.920.7859 or 800.608.7859

Unitholder and Analyst Inquiries:

Rhonda Amundson

877.290.2772

investor_relations@tcpipelineslp.com

PDF available: http://ml.globenewswire.com/Resource/Download/90b11e9b-0c8b-4581-a403-d416fbc9bae8

https://ml.globenewswire.com/media/ba5729ee-411c-4833-9764-7c0bde9e7764/small/tc-pipelines-lp-web-png.png

COMTEX_368390762/2010/2020-07-23T16:31:09

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(C) Copyright 2020 GlobeNewswire, Inc. All rights reserved.

/zigman2/quotes/201345449/composite
US : U.S.: NYSE
$ 28.26
+0.26 +0.93%
Volume: 318,805
Sept. 18, 2020 4:00p
P/E Ratio
7.63
Dividend Yield
9.20%
Market Cap
$2.05 billion
Rev. per Employee
N/A
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/zigman2/quotes/200192679/composite
US : U.S.: NYSE
$ 45.85
+0.29 +0.64%
Volume: 1.98M
Sept. 18, 2020 4:00p
P/E Ratio
13.54
Dividend Yield
5.30%
Market Cap
$42.63 billion
Rev. per Employee
$1.45M
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