• 
• 
• 
• 
• 

A company you can count on

On October 10th, 2008, TransCanada celebrated the 50th anniversary of the final weld on our Canadian Mainline. This was the first pipeline to deliver Alberta natural gas into the markets of Ontario and Quebec. Like the transcontinental railway or the St. Lawrence Seaway, the Mainline was a momentous achievement in nation building. We are very proud of our history and legacy.

Today, TransCanada’s pipelines stretch not only from east to west in Canada, but also from the northern boreal forest to the Baja coast of Mexico. North Americans depend on us to deliver 20 per cent of the natural gas they consume. Millions more rely on us to generate the electricity they use every day in their homes and businesses.

Public confidence and trust motivate us to do our very best. Even in the most difficult of circumstances, we work diligently to deliver the gas and keep the lights on. As a company, we can have no higher purpose than meeting those basic needs.

Before we initiate any development, we thoroughly assess the impact it may have on local communities and the natural world. Then we apply our extensive scientific and technical expertise to keep that impact to a minimum. We also work closely with policy-makers to develop practical, responsible regulations and to find cost-effective ways of complying with them. By being diligent in seeking good solutions and honest in discussing their business implications, we serve the interests of both the environment and our shareholders.

Our position on the environment includes the conviction that all North Americans must challenge themselves to decrease their energy consumption. As an industry we are managing our emission of greenhouse gases, yet public demand for fossil fuel shows few signs of diminishing. As a result, emissions may be expected to rise, not fall. We intend to work even more closely with our stakeholders in the development of sustainable, cost-effective solutions.

TransCanada’s ability to meet the challenge of reliable and responsible energy delivery is rooted in a crucial set of core values:

Integrity

• We treat each other, our customers, governments and other stakeholders with honesty and respect.
• We demonstrate high ethical standards in everything we do.
• We keep our promises and commitments.

Collaboration

• We are committed to achieving win-win solutions with external stakeholders.
• We work across departments, geographies and business lines to achieve the best results for TransCanada.
• We believe diverse thinking styles, opinions and experiences contribute to better decisions and results.

Responsibility

Individual

• We take ownership and accountability for our decisions and actions.
• We consider the long-term implications for TransCanada in everything we do.
• We make safety a priority for ourselves, each other, our contractors and for members of our communities.

Corporate

• We dedicate ourselves to providing reliable energy supplies, even in challenging situations.
• We respect the environment and strive to minimize our environmental impact.
• We invest in our communities.
• We are committed to the long-term sustainability of our assets and businesses.

Innovation

• We continually try new and better ways to solve problems and create value.
• We have the courage to challenge the status-quo.
• We embrace and enable change.

These values shape our approach to business and to the communities where we work. They guide our behaviour in the field and in the office. They account for our enviable record on environmental stewardship, our low employee turn-over, our excellent, long-term return to shareholders. They encourage us to offer solutions that are practical, not merely politically expedient. More than a declaration of intent, they form an ethic of responsible behaviour that accounts for our past success and our future potential.

These values are TransCanada.