A Brand New Era for Energy: South Bow Corporation Emerges As a Force to Be Reckoned With!

South Bow Corporation has officially launched as an independent company, marking the beginning of a new chapter in its mission to safely and reliably deliver energy. The separation from TC Energy Corporation is now complete, paving the way for South Bow to start trading on the Toronto Stock Exchange (TSX) on October 2, 2024, and the New York Stock Exchange (NYSE) on or around October 8, 2024, under the ticker symbol SOBO.

"Today is an exciting day for South Bow as we embark on a new journey, driven by our commitment to safely and reliably delivering energy and forging progress as a critical North American energy infrastructure company," said Bevin Wirzba, South Bow's President and Chief Executive Officer. "We are confident that as a standalone, publicly traded company, we will unlock significant value from our unrivalled market position, supported by strong business fundamentals and a robust backdrop for crude oil supply and demand. Our focus is on creating long-term value for our customers, communities, employees, and shareholders."

Wirzba also took a moment to express gratitude to the team of founders who played a crucial role in South Bow's journey so far. "On behalf of South Bow's leadership team and board of directors, I want to thank our team of founders for their tremendous efforts and dedication in getting us to this new beginning. It is a privilege to launch this company and celebrate this milestone alongside them," he added.

South Bow is a liquids pipelines company that connects resilient Canadian crude oil supply to the strongest demand and refining markets in the U.S. Midwest and Gulf Coast through its strategic corridor, high-quality contractual framework, and investment-grade financial position. The company's vision is centered around taking a disciplined approach to capital allocation to deliver a compelling return to shareholders, with a focus on strengthening its financial position and pursuing low-risk, modest capital investments that enhance and expand its pre-capitalized corridor.

Wirzba highlighted South Bow's commitment to delivering a strong and sustainable base dividend that is underpinned by a stable cash flow profile. The company intends to declare its inaugural dividend on November 7, 2024, with the dividend expected to be paid on January 31, 2025, to shareholders of record on December 31, 2024. Dividends are subject to the discretion and approval of South Bow's board of directors.

The company's shares were distributed on October 1, 2024, marking a significant milestone in its journey as an independent entity. With its sights set on the future, South Bow is poised to make a significant impact in the energy industry, driven by its commitment to safety, reliability, and excellence.

As South Bow embarks on this new chapter, it is clear that the company is focused on delivering long-term value to its stakeholders, while also contributing to the growth and development of the energy sector. With a solid foundation in place, South Bow is well-positioned to navigate the complexities of the energy landscape and emerge as a leader in the industry.