历史信息

On July 2, 1998, 365体育网址公司(当时被称为bt365体育网址或“TCPL”)和NOVA公司合并，然后将NOVA公司经营的商品化学品业务拆分为一个独立的上市公司, NOVA化学物质.

• US 股东 Income Tax Information for 1998 (14 KB, PDF)
  (includes ordinary dividend income, reduction in tax basis of TC Energy Common Shares, and capital gain information.)
  
  
• Joint Management Information Circular (5/98) (1.31 MB, PDF) (information pertaining to the July 2, 1998 merger.)

Re: Determination of Fair Market Value of Shares on July 2, 1998

如5月19日联合管理资料通告第66 - 70页所载加拿大所得税部分所述, 1998 (the "Joint Information Circular"), 在确定协议计划(“计划”)中描述的交易的加拿大所得税后果时，确定某些股票的公平市场价值与NOVA和TransCanada的股东有关。, which became effective on July 2, 1998.

本通告中未另有定义的所有大写术语，其含义与联合资料通告中所载的含义相同.加拿大税务局可能会接受一些不同的方法来评估上市公司的股票在一个特定的时间. 为您的信息, NOVA和TransCanada目前正计划根据在多伦多证券交易所交易的10天加权平均价格，为各自的加拿大税务申报确定公开交易股票的公平市场价值.

Based on a valuation approach derived from the use of ten day weighted average prices, the fair market values were:

Using this valuation approach,

1. The proceeds of disposition of a NOVA Common Share were $16.90;
2. NOVA普通股股东获得TransCanada普通股的初始成本为32美元.50;
3. 为计算横加公司普通股(在联合信息通告中称为EnergyCo .)的成本而使用. Common Share) immediately after the Plan is effective, $5.57 (being .2 of $27.85以反映1比5的股份合并)必须从调整的成本基础中扣除，否则确定的每一股横加普通股;
4. NOVA普通股(合并后)的成本(在联合信息通告中称为NOVA化学普通股)为27美元.85.

上述资料是根据两家公司加拿大股东提出的许多要求而提供的. 本函不打算取代联合资料通告中对税务后果的说明，且不应被解释为合法, business, tax or valuation advice to any particular shareholder. 相应的, 股东应就该计划对其造成的税务后果征询其顾问的意见, particularly if a shareholder wishes to consider adopting a different valuation approach.

In addition to the foregoing, 如联合信息通告第68页所述，NOVA将向其股东发送T5所得税报告单，以报告因现金支付代替(或取消)部分股份权益而产生的视为股息.If you have any questions with respect to any of the foregoing, please contact NOVA at 1.800.522.1721或1点的横加航空.800.361.6522.

Re: Determination of Fair Market Value of Shares on July 2, 1998

涉及NOVA公司(“NOVA”)和bt365体育网址(“TransCanada”)的安排计划(“计划”)在5月19日的联合管理信息通告中描述, 1998 (the "Joint Information Circular") became effective on July 2, 1998年(“生效日期”). As stated in the United States income tax section, set forth on pages 70 - 75 of the Joint Information Circular, the fair market value of a common share of NOVA on the Effective Date after consummation of the Plan (a "NOVA common share" which is referred to in the Joint Information Circular as a NOVA化学物质 Common Share) and the fair market value of a common share of TransCanada without giving effect to the distribution of the NOVA Common Shares (a "横加公司普通股") is relevant to shareholders of TransCanada and NOVA for purposes of determining certain United States federal income tax consequences to them of the Plan. 本信的目的是提供有关此类公平市场价值估计的信息.

本通告中未另有定义的所有大写术语，其含义与联合资料通告中所载的含义相同.

在某一特定时期，美国国税局可能会采用不同的方法来评估一家上市公司的股票价值.

Based on discussions with US tax counsel, 365体育网址认为，使用下列数额(以美元表示)作为公平市场价值的估计是合理的:

TransCanada普通股的估计公允市场价值是根据7月2日多伦多证券交易所交易价格高低的简单平均值计算出来的, 1998. NOVA普通股(在联合信息通告中称为NOVA化学普通股)的估计公允市值来源于7月3日多伦多证券交易所的开盘价, 1998. 这些数额是根据该日期生效的中午汇率换算成美元的.

Using these estimated values,

1. The fair market value of the consideration received for a NOVA Common Share was $11.56 (being .52 x $22.23);
2. The initial tax basis in a 横加公司普通股 received by a NOVA Common Shareholder, 在因NOVA普通股分配而对该税基进行任何调整之前, was $22.23;
3. NOVA和TransCanada普通股股东收到的NOVA普通股(在联合信息通告中称为NOVA化学普通股)的初始税基为20美元.89.

TransCanada打算在1999年2月向美国股东报告NOVA普通股(在联合信息通告中称为NOVA化学普通股)的公平市场价值的部分，该部分应被视为美国联邦所得税目的的股息.

上述资料是根据两家公司的美国股东提出的许多要求而提供的. 本函不打算取代联合资料通告中对税务后果的说明，且不应被解释为合法, business, tax or valuation advice to any particular shareholder. We believe that the use of the trading prices set forth above is a reasonable approach to estimate the fair market values of a 横加公司普通股 and a NOVA Common Share for purposes of determining certain United States federal income tax consequences of the Plan; however, 如上所述, other approaches could be utilized for this purpose. 相应的, 股东应审阅联合信息通告中的美国税务部分，并应就该计划在其特定情况下对其造成的税务后果咨询其自己的顾问, particularly if a shareholder wishes to consider adopting a different valuation approach.

除此之外, NOVA will be sending its United States shareholders NR4 supplementary income tax reporting slips for purposes of reporting for Canadian federal income tax purposes the deemed dividend and related non-resident withholding tax arising on the cash payment in lieu of (and on the cancellation of) an interest in a fractional share as described on page 70 of the Joint Information Circular.

If you have any questions with respect to any of the foregoing, please contact NOVA 1.800.522.1721或1点的横加航空.800.361.6522.

There has been two stock splits in TC Energy's history: