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South Bow Announces Extension of Expiration Date for Exchange Offers Relating to Certain Outstanding Notes

CALGARY, Alberta, July 17, 2025 (GLOBE NEWSWIRE) -- South Bow Corp. ((TSX &amp, NYSE:SOBO) (South Bow or the Company) announces the extension of the expiration date for the previously announced exchange offers relating to certain outstanding notes of South Bow Canadian Infrastructure Holdings Ltd. (the Canadian Exchange Offer) and South Bow USA Infrastructure Holdings LLC (the U.S. Exchange Offer).

South Bow Canadian Infrastructure Holdings Ltd. exchange offer

South Bow Canadian Infrastructure Holdings Ltd., a wholly owned subsidiary of South Bow, has extended the expiration date for the Canadian Exchange Offer, in which: (i) the holders of its outstanding 7.625% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 (the Initial Series 1 Notes) were offered the opportunity to exchange all or a portion of their Initial Series 1 Notes for an equal aggregate principal amount of 7.625% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 (the New Series 1 Notes); and (ii) the holders of its outstanding 7.500% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 (the Initial Series 2 Notes and collectively with the Initial Series 1 Notes, the Initial Canadian Notes) were offered the opportunity to exchange all or a portion of their Initial Series 2 Notes for an equal aggregate principal amount of 7.500% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 (the New Series 2 Notes and collectively with the New Series 1 Notes, the New Canadian Notes), in each case, upon the terms and subject to the conditions set forth in the short form prospectus of South Bow Canadian Infrastructure Holdings Ltd. dated July 3, 2025 (the Canadian Prospectus).

South Bow Canadian Infrastructure Holdings Ltd. is extending the previous Canadian Exchange Offer expiration date of 5:00 p.m. ET on Aug. 4, 2025, to 5:00 p.m. ET on Aug. 6, 2025 (the New Expiration Date). The deadline to validly withdraw tenders of the Initial Canadian Notes also was extended to the New Expiration Date. The Canadian Exchange Offer will now expire on the New Expiration Date, unless further extended. All other terms of the Canadian Exchange Offer remain unchanged.

South Bow Canadian Infrastructure Holdings Ltd. has filed the Canadian Prospectus with the Alberta Securities Commission (ASC) and the U.S. Securities and Exchange Commission (SEC), which contains certain important information about the Canadian Exchange Offer. South Bow Canadian Infrastructure Holdings Ltd. recommends that holders of Initial Canadian Notes read the Canadian Prospectus and the documents incorporated by reference therein carefully before deciding whether to tender their Initial Canadian Notes in exchange for New Canadian Notes in the Canadian Exchange Offer. Copies of the Canadian Prospectus and the documents incorporated by reference therein may be obtained on request without charge from the Corporate Secretary of South Bow at 707, Fifth St. S.W., Calgary, Alta., Canada, T2P 1V8 or by telephone at 1-587-318-5410, and are also available under South Bow Canadian Infrastructure Holdings Ltd.'s SEDAR+ profile at