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South Bow maintains 2025 normalized EBITDA view of $1.01B

Reduces upper end of its normalized EBITDA guidance of $1.01B to 1%, and is increasing the lower end to -2% due to strong Q1 2025 performance. Q2 normalized EBITDA is expected to be 7%-8% lower than Q1 normalized EBITDA of $266M.

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