At February 22, 2007, TransCanada had 528.7 million issued and outstanding common shares. In addition, there were 9.6 million outstanding options to purchase common shares, of which 5.6 million were exercisable as at February 22, 2007.

In February 2007, the Company issued 39,470,000 subscription receipts. These subscription receipts were exchanged on a one-for-one basis for common shares upon the closing of the ANR acquisition. In addition, TransCanada granted the underwriters of the subscription receipts offering an option to purchase an additional 5,920,500 common shares at $38.00 per common share at any time up to and including March 16, 2007.