TC Energy To Appeal Court Rulings Related To 2016 Columbia Pipeline Acquisition; Court Awarded Columbia Stakeholders Damages Of $398.4M

In its May 15, 2024 decision, the Court awarded the Columbia stockholders damages of US$398.4 million and has allocated responsibility for that award in the amount of 50 per cent to the former Columbia CEO and CFO, collectively, and 50 per cent to TC Energy. TC Energy continues to disagree with many of the Court's findings and believes the Court's ruling departs from established Delaware law. TC Energy's allocated share of the damages is US$199.2 million, plus an estimated US$179.5 million in pre- and post-judgment interest.