Natural Gas Oil and Electric Transmission Trans Canada

Natural Gas, Oil, and Electric Transmission: Trans. Canada Initiatives in the West and Midwest Beth Jensen, Trans. Canada Montana Economic Developers Association June 10, 2010

Forward Looking Information This presentation may contain certain information that is forward looking and is subject to important risks and uncertainties. The words "anticipate, " "expect, " "believe, " "may, " “should, " "estimate, " "project, " "outlook, " "forecast" or other similar words are used to identify such forward-looking information. Forward-looking statements in this document are intended to provide Trans. Canada security holders and potential investors with information regarding Trans. Canada and its subsidiaries, including management's assessment of Trans. Canada's and its subsidiaries’ future financial and operations plans and outlook. Forward-looking statements in this document may include, among others, statements regarding the anticipated business prospects and financial performance of Trans. Canada and its subsidiaries, expectations or projections about the future, and strategies and goals for growth and expansion. All forward-looking statements reflect Trans. Canada's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, the ability of Trans. Canada to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the operating performance of the Company's pipeline and energy assets, the availability and price of energy commodities, capacity payments, regulatory processes and decisions, changes in environmental and other laws and regulations, competitive factors in the pipeline and energy sectors, construction and completion of capital projects, labour, equipment and material costs, access to capital markets, interest and currency exchange rates, technological developments and the current economic conditions in North America. By its nature, forward ‑looking information is subject to various risks and uncertainties, which could cause Trans. Canada's actual results and experience to differ materially from the anticipated results or expectations expressed. Additional information on these and other factors is available in the reports filed by Trans. Canada with Canadian securities regulators and with the U. S. Securities and Exchange Commission (SEC). Readers are cautioned not to place undue reliance on this forward ‑looking information, which is given as of the date it is expressed in this presentation or otherwise, and not to use futureoriented information or financial outlooks for anything other than their intended purpose. Trans. Canada undertakes no obligation to update publicly or revise any forward‑looking information, whether as a result of new information, future events or otherwise, except as required by law. 2 Trans. Canada 19 March 2018

Trans. Canada: A Leading North American Energy Infrastructure Company • Competitively positioned in pipeline and energy infrastructure • More than $40 billion of premium pipeline and energy assets ($Cdn at Dec. 31, 2009) • Employs approximately 2, 550 individuals in Canada, 1, 650 in the U. S. , and an additional 1, 200 in-house contractors • Strong financial position 3 Trans. Canada 19 March 2018

Trans. Canada Corporation (TSX/NYSE: TRP) Diversified assets § Natural gas pipelines, oil pipelines, electric power plants, regulated and nonregulated gas storage Growth potential § Robust investment in new energy infrastructure projects § Strategic investment in existing assets Development expertise § Excellent track record in developing projects from engineering, construction, and commercial perspectives 4 Trans. Canada 19 March 2018

Pipeline Assets • • 19 March 2018 250 Bcf of regulated natural gas storage capacity • Trans. Canada Pipelines serve premium markets • 5 Positions in virtually every major producing basin Keystone oil pipeline (in construction), expected 1. 1 million Bbl/d when complete

Energy Assets • • 19 March 2018 Diversified portfolio primarily consists of low-cost, base-load generation • Trans. Canada 11, 700 megawatts • 6 Ownership or interests in 19 plants, including some currently under development 120 Bcf of unregulated natural gas storage capacity in Alberta

Proposed Bison Pipeline • • 7 Trans. Canada 19 March 2018 Received FERC Certificate; awaiting notice to proceed Interstate natural gas pipeline to connect Powder River Basin to the Midwest market 302 miles of 30 -inch-diameter pipeline and related facilities Expected to interconnect with Northern Border Pipeline (50% owned by TC Pipelines LP) near Compressor Station 6 in Morton County, North Dakota Design capacity of 477 MMcf/d, expandable to 1 Bcf/d Contracted capacity of 407 MMcf/d for 10 years Proposed in-service date of November, 2010

Northern Border Pipeline • • • 8 Trans. Canada 19 March 2018 General partnership of Trans. Canada Pipelines, LP and ONEOK Partners, LP; Trans. Canada Northern Border Inc. is operator 1, 249 miles of 42 -inch-diameter interstate natural gas pipeline with design capacity of 2. 4 Bcf/d Key link between Western Canada Sedimentary Basin and the Midwest market Also accesses Williston and Powder River basins in the U. S. Potential to access Rockies supply via proposed Bison Pipeline

Keystone Pipeline and Expansions • • Includes 380, 000 Bbl/d of additional contracts for U. S. Gulf Coast expansion • Trans. Canada interest 100% • Approx. US$12 billion capital investment expected between 2008 and 2012 • 19 March 2018 910, 000 Bbl/d committed for an average term of 18 years for 83% of total capacity • Trans. Canada Projected 1, 090, 000 Bbl/d capacity (including Gulf Coast expansion) • 9 30 - and 36 -inch-diameter crude oil pipeline In-service 2009 – 2012

Chinook and Zephyr Electric Transmission • • 10 Trans. Canada 19 March 2018 Separate but complementary proposed high-voltage (500 kilovolt) direct current transmission lines Each line would carry up to 3, 000 megawatts of electricity Both lines proposed to exceed 1, 000 miles Focus is on connecting wind resources in Montana and Wyoming to growing loads in the US Southwest The projects would make long-term, low-cost, and stable-priced generation resources available to consumers in the West The proposed projects enhance opportunities to meet state renewable portfolio standards Zephyr recently conducted successful open season for all 3, 000 megawatts of capacity

Questions? ? 11 Trans. Canada 19 March 2018