Full Year 2016 Highlights and Fourth Quarter Highlights (All financial figures are unaudited) Full Year Highlights o o o o o

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1 NewsRelease TC PipeLines, LP Annunces 2016 Furth Quarter and Year End Financial Results Receives Offer frm TransCanada t Purchase Interests in the Irquis and PNGTS Systems HOUSTON, Texas February 27, 2017 TC PipeLines, LP (NYSE: TCP) (the Partnership) tday reprted furth quarter 2016 net incme attributable t cntrlling interests f $60 millin and distributable cash flw f $67 millin. Fr the year ended December 31, 2016, net incme attributable t cntrlling interests was $244 millin and distributable cash flw was $313 millin. The Partnership delivered slid results in 2016, reflecting the strength and stability f ur prtfli f high quality, FERC-regulated natural gas pipelines, all f which are underpinned by lng-term, ship-r-pay cntracts with creditwrthy custmers, said Brandn Andersn, president f TC PipeLines GP, Inc. Our steady financial perfrmance psitins us fr additinal drpdwn transactins as well as ther rganic grwth pprtunities. We are currently in receipt f an ffer frm TransCanada t sell t us a 49.3 percent interest in the Irquis Gas Transmissin System and its remaining 11.8 percent f the PNGTS system, added Andersn. These pipelines are critical energy infrastructure in the U.S. Nrtheast and are expected t be integral t thse markets fr years t cme. Upn a successful transactin, we believe this investment will further strengthen ur cash flws and ur ability t increase ur quarterly distributins this year in line with recent increases. The terms and structure f the prpsed transactin are subject t satisfactry negtiatin and apprval by the Cnflicts Cmmittee f the Bard f Directrs f the Partnership s general partner and, upn recmmendatin frm the Cnflicts Cmmittee, apprval by the Bard f Directrs. Funding f the transactin culd be surced frm a cmbinatin f debt and equity, the latter frm the expected cntinued use f the Partnership s ATM prgram. We expect the transactin t be cmpleted mid-year Full Year 2016 Highlights and Furth Quarter Highlights (All financial figures are unaudited) Full Year Highlights Generated net incme attributable t cntrlling interests f $244 millin Paid cash distributins f $250 millin n the cmmn units and $12 millin n Class B units Declared cash distributins f $3.71 per cmmn unit Generated distributable cash flw f $313 millin Clsed the purchase f a 49.9 percent interest in the Prtland Natural Gas Transmissin System (PNGTS) frm TransCanada fr $228 millin, effective January 1, 2016 Received apprval frm FERC n Tuscarra rate settlement Raised net prceeds f apprximately $167 millin in cmmn equity thrugh the Partnership s At-The-Market (ATM) equity issuance prgram and thrugh a General Partner cntributin Furth Quarter Highlights Generated net incme attributable t cntrlling interests f $60 millin Paid cash distributins f $66 millin Declared cash distributins f $0.94 per cmmn unit Generated distributable cash flw f $67 millin Raised net prceeds f apprximately $48.5 millin in cmmn equity thrugh the ATM equity issuance prgram and thrugh a General Partner cntributin

2 Page 2 The Partnership s financial highlights fr the furth quarter f 2016 and fr the year ended December 31, 2016 cmpared t the same perids f 2015 were: Three mnths ended Twelve mnths ended (unaudited) December 31, December 31, (millins f dllars except per cmmn unit amunts) Net incme 60 (137) Net incme (lss) attributable t cntrlling interests 60 (137) Net incme (lss) per cmmn unit basic and diluted (a) $0.70 ($2.24) $3.21 ($0.03) Cash distributins paid (66) (59) (250) (228) Class B distributins paid - - (12) - Cash distributins declared per cmmn unit $0.94 $0.89 $3.71 $3.51 Adjusted earnings (b) Adjusted earnings per cmmn unit - basic and diluted (b) $0.70 $0.79 $3.21 $3.03 EBITDA (b) 98 (100) Adjusted EBITDA (b) Distributable cash flw (b) Weighted average cmmn units utstanding (millins) basic and diluted Cmmn units utstanding at end f perid (millins) (a) Net incme per cmmn unit is cmputed by dividing net incme attributable t cntrlling interests, after deductin f amunts attributable t the General Partner and Class B units, by the weighted average number f cmmn units utstanding. Refer t Financial Summary-Cnslidated Statements f Incme sectin f this release. (b) Adjusted earnings, Adjusted earnings per cmmn unit, EBITDA, Adjusted EBITDA and Distributable cash flw are nn-gaap financial measures. Refer t the descriptin f these nn-gaap financial measures in the sectin f this release entitled Nn-GAAP Measures and the Supplemental Schedule fr further detail. Recent Develpments Cash Distributins On January 23, 2017, the bard f directrs f ur General Partner declared the Partnership s furth quarter 2016 cash distributin in the amunt f $0.94 per cmmn unit payable n February 14, 2017 t unithlders f recrd as f February 2, The declared distributin t ur General Partner will include a $1.3 millin distributin fr its effective tw percent general partner interest and an IDR payment amunting t $2.0 millin fr a ttal furth quarter 2016 distributin f $68 millin. Three Mnths Ended December 31, 2016 Results f Operatins Fr the three mnths ended December 31, 2016, net incme attributable t cntrlling interests and EBITDA increased by $197 millin and $198 millin, respectively cmpared t the same perid in 2015 primarily due t the recgnitin f the $199 millin nn-cash impairment n ur investment in Great Lakes in furth quarter Our Adjusted earnings and Adjusted EBITDA remained cmparable t the same perid in 2015 and were impacted by the net effect f: higher transmissin revenues in furth quarter 2016 frm GTN due t shrt-term services sld t its custmers; equity earnings frm PNGTS as a result f ur 49.9 percent wnership interest effective January 1, 2016; lwer equity earnings frm Great Lakes in furth quarter 2016 as a result f the timing f recgnitin f revenue in furth quarter 2015 n certain transprtatin services with ANR Pipeline Cmpany, an affiliate; and generally higher expenses in furth quarter 2015 due t drpdwn csts incurred n the PNGTS acquisitin. 2

3 Page 3 Fr the three mnths ended December 31, 2016, ur Distributable cash flw decreased $7 millin cmpared t the same perid in 2015 primarily due t higher interest expense and higher maintenance capital expenditures in furth quarter f 2016 cmpared t Twelve mnths Ended December 31, 2016 Cash Flw Analysis The Partnership s net cash prvided by perating activities increased by $62 millin fr the twelve mnths ended December 31, 2016 cmpared t the same perid in 2015 primarily due t higher earnings. Earnings were higher due t the net effect f the fllwing: Transmissin revenues - the $13 millin increase was primarily due t the net effect f: higher discretinary revenues n GTN frm shrt-term services sld t its custmers; full year f revenue frm GTN s Carty lateral system which was placed int service in Octber 2015; and lwer transprtatin rates n GTN as a result f the settlement reached with its custmers effective July 1, Earnings frm equity investments - the $19 millin increase was mainly due t ur share f earnings frm the acquisitin f a 49.9 percent interest in PNGTS effective January 1, Operating expenses - generally lwer expenses in 2016 as a result f lwer peratinal csts n ur cnslidated entities. Additinally, drpdwn csts were incurred n the PNGTS acquisitin in Financial charges and ther - the $11 millin increase was mainly attributable t additinal brrwings t fund a prtin f ur recent acquisitins. Net incme attributable t nn-cntrlling interests - the $7 millin decrease was due t the 2015 GTN acquisitin effective April 1, 2015, whereby the Partnership nw wns 100 percent f GTN. The Partnership s net cash used in investing activities decreased by $97 millin as we invested a lesser amunt fr ur recent acquisitin f PNGTS cmpared t ur investment during the same perid in In 2015, we paid $264 millin t acquire the remaining 30 percent interest in GTN cmpared t $193 millin paid fr the acquisitin f a 49.9 percent interest in PNGTS in Additinally, we had higher capital expenditures in 2015 due t expenditures related t the cnstructin f the Carty Lateral at GTN. The Partnership s net cash prvided by financing activities decreased by $161 millin in the twelve mnths ended December 31, 2016 cmpared t the same perid in 2015 primarily due t the net effect f: $259 millin decrease in net issuances f debt in 2016 as cmpared t 2015; $123 millin increase in ur ATM equity issuances in 2016 as cmpared t 2015; $22 millin increase in distributins paid t ur cmmn units including ur General Partner s tw percent share and its related IDRs; $12 millin f distributins paid t Class B units in 2016; and $9 millin f distributins paid t TransCanada as the nn-cntrlling interest wner f GTN until March 31, At December 31, 2016, the Partnership s available brrwing capacity under its $500 millin credit facility was $340 millin. Nn-GAAP Financial Measures The fllwing nn-gaap financial measures are presented as a supplement t ur financial statements: Adjusted earnings Adjusted earnings per cmmn unit EBITDA Adjusted EBITDA Ttal distributable cash flw Distributable cash flw 3

4 We have evaluated ur financial perfrmance and psitin inclusive f the impairment charge t ur investment in Great Lakes during the furth quarter f Hwever, we believe it is nt reflective f ur underlying peratins during the perids presented. Therefre, we have presented adjusted earnings and adjusted earnings per cmmn unit as nn-gaap measures that exclude the impact f the $199 millin nn-cash impairment charge. EBITDA is an apprximate measure f ur perating cash flw during the current earnings perid and recnciles directly t the net incme amunt presented. It measures ur earnings befre deducting interest, depreciatin and amrtizatin and net incme attributable t nn-cntrlling interests and it includes earnings frm ur equity investments. Adjusted EBITDA als excludes the impact f the $199 millin nncash impairment charge we believe is significant but nt reflective f ur underlying peratins. Ttal distributable cash flw and distributable cash flw prvide measures f distributable cash generated during the current earnings perid and recncile directly t the net incme amunts presented. We believe these measures prvide investrs with meaningful infrmatin in evaluating ur financial perfrmance and cash distributin capability. Ttal distributable cash flw includes Adjusted EBITDA plus: Distributins frm ur equity investments less: Earnings frm ur equity investments, Equity allwance fr funds used during cnstructin (Equity AFUDC), Interest expense, Distributins t nn-cntrlling interests, and Maintenance capital expenditures. Distributable cash flw is cmputed net f distributins declared t the General Partner and distributins allcable t Class B units. Distributins declared t the General Partner are based n its effective tw percent interest plus an amunt equal t incentive distributins. Distributins allcable t the Class B units equal 30 percent f GTN s distributable cash flw fr the year ended December 31, 2016 less $20 millin (2015- less $15 millin). The nn-gaap financial measures described abve are perfrmance measures presented t assist investrs in evaluating ur business perfrmance. We believe these measures prvide additinal meaningful infrmatin in evaluating ur financial perfrmance and cash generating perfrmance. The nn-gaap financial measures presented as part f this release are prvided as a supplement t GAAP financial results and are nt meant t be cnsidered in islatin r as substitutes fr financial infrmatin prepared in accrdance with GAAP. Additinally, these measures as presented may nt be cmparable t similarly titled measures f ther cmpanies. Fr a recnciliatin f these nn-gaap financial measures t GAAP measures, please see the tables captined "Recnciliatin f Net incme t Distributable Cash Flw," Recnciliatin f Net incme (lss) attributable t cntrlling interests t adjusted earnings and "Recnciliatin f Net incme (lss) per cmmn unit t adjusted earnings per cmmn unit," included at the end f this release. Cnference Call Members f the investment cmmunity and ther interested parties are invited t participate in a telecnference by calling n Mnday, February 27, 2017 at 9:00 a.m. central time (CDT)/10:00 a.m. eastern time (EDT). Brandn Andersn, president f the General Partner, will discuss the furth quarter financial results and prvide an update n the Partnership s business, fllwed by a questin and answer sessin. Please dial in 10 minutes prir t the start f the call. N pass cde is required. A live webcast f the cnference call will als be available thrugh the Partnership s website at Slides fr the presentatin will be psted n the Partnership s website under Events and Presentatins prir t the webcast. A replay f the telecnference will als be available tw hurs after the cnclusin f the call and until 11 p.m. (CDT) and midnight (EDT) n March 6, 2017, by calling , then entering pass cde Page 4

5 Abut TC PipeLines, LP TC PipeLines, LP is a Delaware master limited partnership with interests in seven federally regulated U.S. interstate natural gas pipelines which serve markets in the Western, Midwestern and Eastern United States. The Partnership is managed by its general partner, TC PipeLines GP, Inc., a subsidiary f TransCanada Crpratin (NYSE: TRP). Fr mre infrmatin abut TC PipeLines, LP, visit the Partnership s website at Frward-Lking Statements Certain nn-histrical statements in this release relating t future plans, prjectins, events r cnditins are intended t be frward-lking statements within the meaning f Sectin 27A f the Securities Act f 1933 and Sectin 21E f the Securities Exchange Act f These statements are based n current expectatins and, therefre, subject t a variety f risks and uncertainties that culd cause actual results t differ materially frm the prjectins, anticipated results r ther expectatins expressed in this release, including, withut limitatin t csts f cmpliance with newly enacted regulatins, the timing, terms and clsing f future acquisitins f additinal natural gas pipeline assets and the ability f these assets t generate nging value t ur unithlders, impact f ptential impairment charges, ptential f claims fr rescissin in cnnectin with certain sales under ur ATM prgram, decreases in demand n ur pipeline systems, increases in perating and cmpliance csts, the utcme f rate prceedings, the impact f recently issued and future accunting updates and ther changes in accunting plicies, ur ability t identify and cmplete expansin and grwth pprtunities, perating hazards beynd ur cntrl, disruptin in the debt and equity markets that negatively impacts the Partnership s ability t finance its capital spending. These and ther factrs that culd cause future results t differ materially frm thse anticipated are discussed in Item 1A in ur Annual Reprt n Frm 10-K fr the year-ended December 31, 2016 filed with the Securities and Exchange Cmmissin (the SEC), as updated and supplemented by subsequent filings with the SEC. All frward-lking statements are made nly as f the date made and except as required by applicable law, we undertake n bligatin t update any frward-lking statements t reflect new infrmatin, subsequent events r ther changes. 30 Media Inquiries: Mark Cper/James Millar Unithlder and Analyst Inquiries: Rhnda Amundsn investr_relatins@tcpipelineslp.cm Page 5 5

6 TC PipeLines, LP Financial Summary Page 6 Cnslidated Statements f Incme Three mnths ended Twelve mnths ended (unaudited) December 31, December 31, (millins f dllars except per cmmn unit amunts) Transmissin revenues Equity earnings Impairment f equity-methd investment - (199) - (199) Operatin and maintenance expenses (14) (17) (50) (53) Prperty taxes (5) (3) (19) (19) General and administrative (2) (4) (7) (9) Depreciatin (21) (22) (86) (85) Financial charges and ther (17) (15) (67) (56) Net incme (lss) 60 (137) Net incme attributable t nn-cntrlling interests Net incme (lss) attributable t cntrlling interests 60 (137) Net incme (lss) attributable t cntrlling interest allcatin Cmmn units 47 (145) 211 (2) General Partner 3 (2) 11 3 Class B units (b) (137) Net incme (lss) per cmmn unit - basic and diluted (a) $ 0.70 $ (2.24) $ 3.21 $ (0.03) Weighted average cmmn units utstanding (millins) - basic and diluted Cmmn units utstanding, end f perid (millins) (a) Net incme per cmmn unit is cmputed by dividing net incme attributable t cntrlling interests, after deductin f amunts attributable t the General Partner and Class B units, by the weighted average number f cmmn units utstanding. The amunt allcable t the General Partner equals an amunt based upn the General Partner s effective tw percent general partner interest, plus an amunt equal t incentive distributins. Fr the year ended December 31, 2016, the amunt allcated t the Class B units was equal t 30 percent f GTN s annual distributable cash flw, less the threshld amunt f $20 millin (2015 less $15 millin). (b) During the six mnths ended June 30, 2016, the $20 millin annual threshld was exceeded and during the twelve mnths ended December 31, 2016, 30 percent f GTN s ttal distributable cash flw amunted t $42 millin, exceeding the annual threshld by $22 millin. As a result, $22 millin f net incme attributable t cntrlling interests was allcated t the Class B units at December 31, 2016, f which $1 millin, $11 millin and $10 millin was allcated during the three mnths ended June 30, 2016, September 30, 2016 and December 31, 2016 respectively. Frm April 1, 2015 t December 31, 2015, 30 percent f GTN s ttal distributable cash flw was $27 millin, exceeding the 2015 threshld f $15 millin by $12 millin. As a result, $12 millin f net incme attributable t cntrlling interests was allcated t the Class B units fr the twelve mnths ended December 31, 2015, f which $2 millin and $10 millin was allcated during the three mnths ended September 30, 2015 and December 31, 2015, respectively. 6

7 TC PipeLines, LP Financial Summary Page 7 Cnslidated Balance Sheets (unaudited) December 31, December 31, (millins f dllars) Assets Current Assets Cash and cash equivalents Accunts receivable and ther Distributin receivable frm affiliate 3 - Inventries 7 7 Other Investments in uncnslidated affiliates 1, Plant, prperty and equipment 1,881 1,949 Gdwill Other assets (a) 1 1 3,158 3,126 Liabilities and Partners Equity Current Liabilities Accunts payable and accrued liabilities Accunts payable t affiliates 7 5 Accrued interest 9 8 Current prtin f lng-term debt Lng-term debt 1,835 1,889 Other liabilities ,929 1,975 Cmmn units subject t rescissin (b) 83 - Partners Equity Cmmn units 1,002 1,021 Class B units General partner Accumulated ther cmprehensive lss - (2) Cntrlling interests 1,146 1,151 3,158 3,126 7

8 (a) (b) As a result f the applicatin f ASU n and similar t the presentatin f debt discunts, debt issuance csts f $7 millin at December 31, 2015 previusly reprted as ther assets in the balance sheet were reclassified as an ffset against debt. In cnnectin with the late filing f an emplyee-related Frm 8-K with the SEC, we may have been ineligible t use the then-effective shelf registratin statement upn the filing f ur 2015 Frm 10-K. As a result, it was determined that the 1.6 millin cmmn units that were issued after the filing f ur Frm 10-K n February 26, 2016 up t and including May 19, 2016 under ur ATM prgram may be subject t rescissin rights fr an amunt equal t the purchase price paid fr the units (r the difference between the purchase price paid and the price at which the units were sld, assuming a lss), plus statutry interest and less any distributins paid, upn the return f the units t us. These rights expire ne year frm the date f purchase f the unit. N unithlder has claimed r attempted t exercise any rescissin rights t date. Page 8 As a result, at December 31, 2016, the Partnership classified all the 1.6 millin cmmn units described abve, utside f equity given the ptential redemptin feature which is nt within the cntrl f the Partnership. These units are treated as utstanding fr financial reprting purpses. The ttal amunt transferred utside f equity was apprximately $83 millin which includes interest and less distributins paid and includes ur General Partner s share t maintain its effective tw percent interest. Fr mre infrmatin, refer t ur Annual Reprt n Frm 10-K fr the perid ended December 31, 2016 as filed with the SEC. 8

9 TC PipeLines, LP Financial Summary Page 9 Cnslidated Statement f Cash Flws Twelve mnths ended (unaudited) December 31, (millins f dllars) Cash Generated Frm Operatins Net incme Depreciatin Impairment f equity-methd investment Amrtizatin f debt issuance csts 2 1 Accrual fr csts related t acquisitin f 49.9% interest in PNGTS - 2 Equity allwance fr funds used during cnstructin - (1) Equity earnings frm equity investments (a) (116) (97) Distributed earnings received frm equity investments (a) Change in perating wrking capital 2 (9) Investing Activities Investment in Great Lakes (9) (9) PNGTS Acquisitin (193) - Acquisitin f the remaining 30 percent interest in GTN - (264) Capital expenditures (28) (54) Other 1 1 (229) (326) Financing Activities Distributins paid (250) (228) Distributins paid t Class B units (12) - Distributins paid n nn-cntrlling interests - (9) Cmmn unit issuance, net Cmmn unit issuance subject t rescissin, net 83 - Equity cntributin by the General Partner - 2 Lng-term debt issued, net f discunt Lng-term debt repaid (254) (404) Debt issuance csts (1) (3) (141) 20 Increase in cash and cash equivalents Cash and cash equivalents, beginning f perid Cash and cash equivalents, end f perid (a) In August 2016, the FASB issued ASU N Statement f Cash Flws (Tpic 230): Classificatin f Certain Cash Receipts and Cash Payments, an amendment f previusly issued guidance, which intends t reduce diversity in practice as t hw certain transactins are classified in the statement f cash flws. The new 9

10 Page 10 guidance is effective January 1, 2018, hwever since early adptin is permitted, the Partnership elected t retrspectively apply this guidance effective December 31, The Partnership has elected t classify distributins received frm equity methd investees using the nature f distributins apprach as it is mre representative f the nature f the underlying activities f the investees that generated the distributins. As a result, certain cmparative perid distributins, received frm equity methd investees, amunting t $25 millin in 2015 has been reclassified frm investing activities t cash generated frm peratins in the cnslidated statement f cash flws. 10

11 TC PipeLines, LP Supplemental Schedule Nn-GAAP Measures Recnciliatins f Net incme t Distributable Cash Flw Page 11 Three mnths ended Twelve mnths ended (unaudited) December 31 December 31 (millins f dllars except per cmmn unit amunts) Net Incme $ 60 $ (137) $ 244 $ 20 Add: Interest expense (a) Depreciatin and amrtizatin EBITDA 98 (100) Impairment f equity investment Adjusted EBITDA $ 98 $ 99 $ 398 $ 365 Add: Less: Less: Distributable cash flw frm equity investments (b) Nrthern Brder Great Lakes PNGTS (c) Equity earnings Nrthern Brder (17) (16) (69) (66) Great Lakes (5) (18) (28) (31) PNGTS (c) (6) - (19) - (28) (34) (116) (97) Equity AFUDC (1) Interest expense (17) (15) (68) (61) Distributins t nn-cntrlling interests (d) (11) Maintenance capital expenditures (e) (7) (4) (16) (16) Ttal Distributable Cash Flw $ 82 $ 87 $ 347 $ 310 General Partner distributins declared (f ) (4) (3) (12) (8) Distributins allcable t Class B units (g) (11) (10) (22) (12) Distributable Cash Flw $ 67 $ 74 $ 313 $

12 Page 12 (a) (b) (c) (d) (e) (f) (g) Interest expense as presented includes net realized lss related t interest rate swaps. These amunts are calculated in accrdance with the cash distributin plicies f these entities. Distributins frm each f ur equity investments represent ur respective share f these entities quarterly distributable cash during the current reprting perid. Our equity investee PNGTS had $22 millin f senir secured ntes payment due in 2016, f which the Partnership s share was apprximately $11 millin. PNGTS has histrically funded its scheduled debt repayments and ther cash needs such as tax payments, by adjusting its available cash fr distributin, which effectively reduces the net cash that we actually receive as distributins frm PNGTS. Accrdingly, these amunts represent ur 49.9 percent share f distributins frm PNGTS available cash befre ur prprtinate share f the ttal debt repayment f PNGTS. Distributins t nn-cntrlling interests represent the respective share n ur cnslidated entities quarterly distributable cash nt wned by us during the current reprting perid. The Partnership s maintenance capital expenditures include cash expenditures made t maintain, ver the lng term, ur assets perating capacity, system integrity and reliability. Accrdingly, this amunt represents the Partnership s and its cnslidated subsidiaries maintenance capital expenditures and des nt include the Partnership s share f maintenance capital expenditures n ur equity investments. Such amunts are reflected in Distributins frm equity investments as thse amunts are withheld by thse entities frm their quarterly distributable cash. Distributins declared t the General Partner fr the three and twelve mnths ended December 31, 2016 included an incentive distributin f apprximately $2 millin and $6 millin, respectively ( $1 millin and $2 millin). During the twelve mnths ended December 31, 2016, 30 percent f GTN s ttal distributins was $42 millin; therefre the distributins allcable t the Class B units was $22 millin, representing the amunt that exceeded the threshld level f $20 millin. During the nine mnths ended December 31, 2015, 30 percent f GTN s ttal distributins was $27 millin; therefre the distributins allcable t the Class B units was $12 millin, representing the amunt that exceeded the threshld level f $15 millin. The Class B distributin is determined and payable annually. On January 23, 2017, the bard f directrs f ur General Partner declared distributins t Class B unithlders in the amunt f $22 millin which was paid n February 14, The 2015 Class B distributin amunting t $12 millin was paid by the Partnership n February 12,

13 Recnciliatin f Net incme (lss) attributable t cntrlling interest and adjusted earnings Page 13 Three mnths ended Twelve mnths ended (unaudited) December 31, December 31, (millins f dllars ) Net incme (lss) attributable t cntrlling interests 60 (137) Add: Impairment f equity-methd investment Adjusted earnings Recnciliatin f Net incme (lss) per cmmn unit and adjusted earnings per cmmn unit Three mnths ended Twelve mnths ended December 31, December 31, (unaudited) Net incme (lss) per cmmn unit - basic and diluted (a) $ 0.70 $ (2.24) $ 3.21 $ (0.03) Add: Impairment f equity-methd investment (b) Adjusted earnings per cmmn unit - basic and diluted $ 0.70 $ 0.79 $ 3.21 $ 3.03 (a) (b) Details f the calculatin can be fund in the Financial Summary-Cnslidated Statements f Incme sectin f this release. Cmputed by dividing $199 millin impairment charge, after deductin f amunts attributable t the General Partner with respect t its effective tw percent interest, by the weighted average number f cmmn units utstanding during the perid. 13