X0306 4 2015-03-31 0 0001075607 TC PIPELINES LP TCP 0001198719 MALQUIST MALYN K 700 LOUISIANA STREET HOUSTON TX 77002-2700 1 0 0 0 Deferred Share Units 2015-03-31 4 A 0 230 65.15 A Common units representing limited partner interest 230 5917 D Upon termination of service as a director, Deferred Share Units ("DSUs") recorded in the reporting person's account will be settled, at the reporting person's election, in common units representing a limited partner interest in TC PipeLines, LP ("Common Units") at no additional cost on a 1 for 1 basis or in cash of equivalent value, less applicable withholdings. The DSUs are immediately fully vested and are redeemable only following Mr. Malquist's termination of Board service. Mr. Malquist receives a portion of his annual board compensation in DSUs. The number of DSUs is calculated based on the Fair Market Value of the Common Units on the last trading day of the quarterly payment period. /s/ Jon A. Dobson, Attorney-in-Fact for Malyn K. Malquist 2015-04-02