Al Monaco Vern Yu Q4 2021 Financial Results & Business Update

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Al MonacoVern YuPresident &Chief Executive OfficerEVP, Corporate Development &Chief Financial OfficerQ4 2021 Financial Results & Business Update

Legal NoticeForward Looking InformationThis presentation includes certain forward-looking statements and information (FLI) to provide potential investors and shareholders of Enbridge Inc. (Enbridge or the Company) with information about Enbridge and its subsidiaries and affiliates,including management’s assessment of their future plans and operations, which FLI may not be appropriate for other purposes. FLI is typically identified by words such as “anticipate”, “expect”, “project”, “estimate”, “forecast”, “plan”, “intend”,“target”, “believe”, “likely” and similar words suggesting future outcomes or statements regarding an outlook. All statements other than statements of historical fact may be FLI. In particular, this presentation contains FLI pertaining to, but notlimited to, information with respect to the following: Enbridge’s strategic plan, priorities and outlook; 2022 financial guidance, including projected DCF per share and adjusted EBITDA, and expected growth thereof; expected dividends,dividend growth and dividend policy; expected supply of, demand for, exports of and prices of crude oil, natural gas, natural gas liquids (NGL), liquified natural gas (LNG) and renewable energy; energy transition and low carbon energy, andour approach thereto; environmental, social and governance (ESG) goals, targets and plans, including greenhouse gas (GHG) emissions intensity and reduction targets, ESG engagement and disclosure, and diversity and inclusion goals;industry and market conditions; anticipated utilization of our assets; expected EBITDA; expected DCF and DCF per share; expected future cash flows; expected shareholder returns, asset returns and returns on equity; expected performanceof the Company’s businesses, including customer growth and organic growth opportunities; financial strength, capacity and flexibility; financial priorities; expectations on sources of liquidity and sufficiency of financial resources; tax rates andpools; expected debt to EBITDA outlook and target range; expected costs related to announced projects, projects under construction and system expansion, optimization and modernization; expected in-service dates for announced projectsand projects under construction; expected capital expenditures; capital allocation framework and priorities, including ESG factors; share repurchases under normal course issuer bid; investable capacity; anticipated productivityenhancements; expected future growth, including secured growth program, development opportunities and low carbon and new energies opportunities and strategy; expected future actions of regulators and courts and the timing andanticipated impact thereof; and toll and rate case proceedings and frameworks, including with respect to the Mainline, and anticipated timing and impact therefrom. Although we believe that the FLI is reasonable based on the informationavailable today and processes used to prepare it, such statements are not guarantees of future performance and you are cautioned against placing undue reliance on FLI. By its nature, FLI involves a variety of assumptions, which are basedupon factors that may be difficult to predict and that may involve known and unknown risks and uncertainties and other factors which may cause actual results, levels of activity and achievements to differ materially from those expressed orimplied by the FLI, including, but not limited to, the following: energy transition, including the drivers and pace thereof; the COVID-19 pandemic and the duration and impact thereof; global economic growth and trade; the expected supply ofand demand for crude oil, natural gas, NGL, LNG and renewable energy; prices of crude oil, natural gas, NGL, LNG and renewable energy; anticipated utilization of our assets; anticipated cost savings; exchange rates; inflation; interest rates;availability and price of labour and construction materials; operational reliability and performance; customer, regulatory and stakeholder support and approvals; anticipated construction and in-service dates; weather; announced and potentialacquisition, disposition and other corporate transactions and projects, and the timing and impact thereof; governmental legislation; litigation; credit ratings; hedging program; expected EBITDA; expected future cash flows; expected futureDCF and DCF per share; estimated future dividends; financial strength and flexibility; debt and equity market conditions; general economic and competitive conditions; the ability of management to execute key priorities; and the effectivenessof various actions resulting from the Company’s strategic priorities. We caution that the foregoing list of factors is not exhaustive. Additional information about these and other assumptions, risks and uncertainties can be found in applicablefilings with Canadian and U.S. securities regulators. Due to the interdependencies and correlation of these factors, as well as other factors, the impact of any one assumption, risk or uncertainty on FLI cannot be determined with certainty.Except to the extent required by applicable law, we assume no obligation to publicly update or revise any FLI made in this presentation or otherwise, whether as a result of new information, future events or otherwise. All FLI in this presentationand all subsequent FLI, whether written or oral, attributable to Enbridge, or any of its subsidiaries or affiliates, or persons acting on their behalf, are expressly qualified in its entirety by these cautionary statements.Non-GAAP MeasuresThis presentation makes reference to non-GAAP financial measures and non-GAAP ratios, including EBITDA, adjusted EBITDA, adjusted earnings, adjusted earnings per share, distributable cash flow (DCF) and DCF per share, and debt toEBITDA. Management believes the presentation of these metrics gives useful information to investors and shareholders as they provide increased transparency and insight into the performance of the Company. EBITDA represents earningsbefore interest, tax, depreciation and amortization. EBITDA represents earnings before interest, tax, depreciation and amortization. Adjusted EBITDA represents EBITDA adjusted for unusual, infrequent or other non-operating factors on botha consolidated and segmented basis. Management uses EBITDA and adjusted EBITDA to set targets and to assess the performance of the Company and its business units. Adjusted earnings represent earnings attributable to commonshareholders adjusted for unusual, infrequent or other non-operating factors included in adjusted EBITDA, as well as adjustments for unusual, infrequent or other non-operating factors in respect of depreciation and amortization expense,interest expense, income taxes and noncontrolling interests on a consolidated basis. Management uses adjusted earnings as another measure of the Company’s ability to generate earnings. DCF is defined as cash flow provided by operatingactivities before the impact of changes in operating assets and liabilities (including changes in environmental liabilities) less distributions to non-controlling interests, preference share dividends and maintenance capital expenditures, andfurther adjusted for unusual, infrequent or other non-operating factors. Management also uses DCF to assess the performance of the Company and to set its dividend payout target. Debt to EBITDA is a non-GAAP ratio used as a liquiditymeasure to indicate the amount of adjusted earnings available to pay debt (as calculated on a GAAP basis) before covering interest, tax, depreciation and amortization. Reconciliations of forward-looking non-GAAP financial measures andnon-GAAP ratios to comparable GAAP measures are not available due to the challenges and impracticability of estimating certain items, particularly certain contingent liabilities and non-cash unrealized derivative fair value losses and gainswhich are subject to market variability. Because of those challenges, reconciliations of forward-looking non-GAAP financial measures and non-GAAP ratios are not available without unreasonable effort. Our non-GAAP metrics described aboveare not measures that have standardized meaning prescribed by generally accepted accounting principles in the United States of America (U.S. GAAP) and are not U.S. GAAP measures. Therefore, these measures may not be comparablewith similar measures presented by other issuers. A reconciliation of historical non-GAAP financial measures to the most directly comparable GAAP measures is available on the Company’s website. Additional information on non-GAAPfinancial measures and non-GAAP ratios may be found in the Company’s earnings news releases or in additional information on the Company’s website, www.sedar.com or www.sec.gov. Unless otherwise specified, all dollar amounts in thispresentation are expressed in Canadian dollars, all references to “dollars” or “ ” are to Canadian dollars and all references to “US ” are to US dollars.2

AgendaEnbridge Day Themes 2021 Recap Energy FundamentalsGrowingOrganicallyModernizing Systemsand AchievingNet Zero Business Update ESG Financial PerformanceSustainable NorthAmerican EnergyDrives ExportsGrowing Renewablesand Low-CarbonPlatforms3

2021 RecapStrong operating and financial performanceAdvanced ESG goalsSignificant EBITDA2GrowthSuperior DividendGrowth(Billion, CAD)(Dividend per Share) 14B of growth capital into service1 15.0-15.6 3.44 2B new projects sanctionedAccelerated export & low-carbon strategies 1.2B non-core assets sold27th annual dividend increaseShare repurchase program in place30% annual TSR 0.66 2.520082022e20082022e2021 was a pivotal year in advancing our strategic priorities(1) Includes 10B of secured capital into service and acquisition of Moda Midstream Operating LLC(2) Adjusted EBITDA, DCF and DCF/share are non-GAAP measures. Reconciliations to the nearest GAAP measures are included in the Q4 earnings release and other documents available at www.enbridge.com.4

Energy Fundamentals OutlookGlobal Demand OutlookNorth American Supply3North American Exports3Announced Policies Scenario1Crude OilNatural GasCrude DSBiofuelsWind/Solar 15 16 18 107 111 116 3 -4 3Natural Gas 15 3 11 12Crude OilCoal20202030 Robust economic recovery Growing energy demand Renewable growth accelerating2021 2022 202520212022 Long-lived supplies Attractive break-even costs Global ESG leadership20252021 2022 20252021 2022 2025 Increased supply directed to exports 20% increase in oil exports by 2025 40% increase in LNG exports by 2025Robust fundamentals drives high asset utilization and solid growth outlook(1) International Energy Agency (2021), World Energy Outlook 2021, IEA, Paris. STEPS – Stated Policies Scenario, SDS – Sustainable Development Scenario (2) ‘Other’ includes modern solid bioenergy, hydro, nuclear, and traditional biomass(3) 2022 IHS Markit. All rights reserved. The use of this content was authorized in advance. Any further use or redistribution of this content is strictly prohibited without prior written permission by IHS Markit5

Large Organic Opportunity SetOrganic Growth PrioritiesUp to 6B/year of Organic Growth PotentialMaximize returns within low-riskcommercial modelSupplements 2022-2024, drives post-2024 growth Pursue capital efficientexpansions Execute ratable utility-like growth Advance crude & LNG exportstrategies Leverage asset footprint to growlow-carbon investmentsOrganic investments benchmarkedagainst share repurchasesGas Transmissionup to 2B/yearGas Distributionup to 1.5B/year System modernization Capital efficient expansions LNG export connections Low carbon System modernization Customer growth Dawn system expansions Low carbonLiquids Pipelinesup to 1B/yearRenewable Powerup to 1B/year System optimizations Capital efficient expansions USGC export platform Low carbon European offshore wind Onshore behind-the-meter Onshore front-of-the-meter2021 execution generating significant financial flexibility to invest in new growth opportunities6

Conventional Business UpdateGas Distribution & StorageGas TransmissionLiquids Pipelines Executing 1.0B 2022 capitalprogram 45K customer additions annually Advancing 27 new communityconnections US 2.6B capital program in execution Announced US 0.4B TETCO Phase IIModernization program1 New Sanctioned US 0.1B Appalachiato Market Phase II expansion onTETCO New Capital efficient Mainline & marketaccess expansions Developing attractive embeddedgrowth at Ingleside Mainline commercial frameworkdiscussions in progressPerforming strongly and positioned to grow through planning horizon(1) Texas Eastern Gas Transmission Company (“TETCO”)7

Mainline Commercial Strategy UpdateTwo Concurrent Optionsin ProgressEstimated Execution Timeline1) Incentive Tolling Arrangement:Dec 2021 Aligned with customers Incentivized to optimize systemStakeholderConsultationMid 2022CommercialNegotiationsMid 2023Late 2023Evaluate bestpath forwardIncentive Tolling Option Premium returnFile NegotiatedSettlement2) Cost of Service (COS): Risks passed through to customers Rate base driven growth Utility-like returnLate 2022CER ReviewMid-2023Frameworkin PlaceContested COS Settlement OptionPrepare COSApplicationFile COSApplicationCER ReviewLate-2023Frameworkin PlaceTwo attractive options for the next mainline tolling framework8

Advancing Crude Export StrategyUSGC Competitive PositionEIEC Development UpdateSolar Self-PowerETCOPSeawaySolarDevelopmentSiteGray OakCactus IIEHOT25%of U.S.oil exportsin 2021SPOTTargetingEnbridge InglesideEnergy Center (EIEC)Net ZeroEIEC FacilityEmissions2In development Moda transaction closed in Q4 15 mmbbls of storage contracted 925kbpd of 1.6mmbpd of exportcapacity contracted Advancing term out of excess capacity 2mmbbl permitted storage expansionin late-stage development New Targeting FID1 in 2022 Up to 60MW; 6MW facility requirement In discussions with offtake customers Targeting FID1 in 2022Developing 2.5 billion of organic infrastructure growth potential3(1) Final investment decision (2) Net-zero scope 1 & 2 and contributes to scope 3 reductions (3) Includes 1B for EIEC and 1.5B for EHOT, SPOT and associated market access expansions9

Advancing LNG Export StrategyU.S. Gulf CoastTXRio Bravo Pipeline Rio Grande LNG US 1.2B pipeline Pending positive FIDVCP Expansion Texas LNG US 0.4B VCP expansion Pending positive FIDWestern CanadaCameron ExtensionVenice Extension Calcasieu Pass LNG US 0.1B TETCOexpansion In service Q4, 2021 Plaquemines LNG US 0.3B TETCOexpansion Pending positive FIDTexasEasternLALNG opportunities indevelopmentBCT-NorthPrinceRupert LNG PipelinesKitimatCalcasieuSabinePass LNGPass LNGCameronFreeportLNGLNGValleyCrossingRio GrandeLNGTexas LNGPlaqueminesLNGENB connected/contractedLNG facilitiesIn service/commissioningIn development Cameron Extension placed into service Precedent agreement signed to serve Texas LNG New 7 Bcf/d of export pipeline capacity expected by Southsupports displacing2,000 GW ofglobal coal firedgenerationWoodfibre ONCALGARY Developing 2.5B expansion on T-South New Up to 300 MMcf/d from compression and looping Targeting mid-2022 Open SeasonExecuting on 6B of capital opportunities along the U.S. Gulf Coast and in Western Canada2(1) Includes capacity in operation and in development (2) US project amounts in Canadian Dollars using an exchange rate of 1 U.S. dollar 1.25 Canadian dollars10

Low-Carbon Energy OutlookGlobal Low-CarbonInvestment MomentumInvestment Signposts(Cumulative, USD Trillions)1 5.1OtherCCUS/CCS 2Wind & Solar 4B(e.g. increase in 45Q for CCUS) 1.5BIn development& construction(e.g. carbon offset verification) 2.5Regulatory & permittingprocess clarity(e.g. no uniform guidelines for H2)Scalable technology 0.52021(Visible investment through 2025)Maturing carbon marketsBiofuels/BiogasHydrogenAttractive economicincentivesExecuting on Near-TermInvestment Opportunities 2.6BIn construction(e.g. H2 is 5x cost of natural gas)20252030 Significant low-carbon infrastructureinvestment potentialDeveloping Further progress required toaccelerate low-carbon growthOffshore Wind Additional LowCarbonTotal Investments must compete forcapital; generate attractive equityreturn within low-risk modelOur low-carbon investment will ramp up through second half of decade(1) IEA World Energy Outlook – Announced Pledges Scenario and RBC Capital Markets report “Carbon Capture & Storage”(2) CCUS – Carbon capture, utilization & storage; CCS – Carbon capture & storage11

Renewables UpdateN.A. Onshore Renewables DevelopmentEuropean Offshore WindAlberta Solar One10.5 MWUKDunkirk 600MW1Fécamp 497MW 2023Saint Nazaire480MW Late 2022Calvados 448MW 2024GermanyFrancePGL (Floating ) 24 MW1In operationUnder constructionAwardedIn development 1.5 GWs in construction, on track for 2022-24 ISDs Sanctioned 1st floating pilot project (PGL) in Q4 New 3.0 GW of new capacity awarded and in development2.6 GW2Lambertville, NJ2.25 MWPlummerof operating N.A.wind & solarcapacityEnbridge InglesideEnergy CenterHeidlersburg, PA2.5 MWOperating Solar Self-PowerSolar Self-Power in ExecutionSolar Self-Power under DevelopmentLiquids Pump StationGas Compressor Station 3 self-power projects in service, 10 in execution Potential to expand self-power facilities to serve 3rd parties 1.5 GW in early-stage developmentBuilding on our world class renewable platform; attractive equity returns(1) Gross Operating Capacity (2) Gross operating capacity, net capacity 1.5 GW (includes 31 operating utility scale projects and operating solar self-power)12

Carbon Capture & Storage UpdateNorth AmericanCCUS StrategyOpen Access WabamunCarbon Hub Provide transportation and storage solutionsAlexanderFirst NationAlexis NakotaSioux NationCO2Lac Ste. AnneMétis CommunityCO2CO2WABAMUNPaulFirst NationCO2CO2CO2CO2 200Mt/a of CO2e near operations Discussions with emitters underway Leverage transportation and storagecapabilitiesCapitalPowerLehighCement– Utility-like commercial model & returnsFORTSASKATCHEWANEDMONTONEnochCree Nation20 MtCO2within GreaterEdmonton Area 4MtCO2e/year under Memorandum of Understanding– Capital Power– Lehigh Cement New Targeting phased ISD between 2025-27 LOI’s with First Nation Capital Investment Partnership1and Lac Ste. Anne Métis Community New– Support and co-develop the Wabamun Hub Application submitted for Alberta pore space allocationSupporting customer emissions reduction through integrated carbon capture solutions(1) First Nation Capital Investment Partnership (FNCIP) is comprised of Alexander First Nation, Alexis Nakota Sioux Nation, Enoch Cree Nation and Paul First Nation13

Renewable Natural Gas & Hydrogen UpdateHydrogenRenewable Natural GasONTARIOONTARIOQUEBECGatineau H2 Blending - 2025Sault Ste. MarieUtility RNG Opportunities7 projects operating and inconstruction; 50 in developmentRNGRNGRNGRNG RNGRNGOttawaTORONTOMarkham H2 Blending - 2021H2Markham PtG Plant - 2018H2RNGRNGRNGOpportunities1GTM RNGUp to 8 projects planned inpartnership with CHIGANSarniaDAWNHUBDetroitRNG N. America’s 1st green H2 blending facility in service New 10-15 additional utility projects in development Actively studying system capabilities (2021-23)Early investments in RNG and H2 reducing carbon footprint of natural gas we deliver(1) Approximate locations; to be finalized as final investment decisions are reached14

2021 ESG Performance UpdateGHG Emissions35% ressNet-Zero2050Goaltowards net zero goalBoard Diversity40%0%31%womenDownfrom baseline1ESG Ratings / Rankings(Latest report as of January 2022)Workforce ronmentEthnic & RacialMinorities0%23%representation2025GoalMSCI ESG A ratingGender40%0%36%women28%Ethnic & presentationSustainalyticsTop 5% of industrygroup2ISS ESGTop decileCorporate RatingS&P Global Leader among N.A.Ratings midstream peersState StreetTop decile R-factorGlobal AdvisorsWells Fargo Top among N.A.Securities midstream peersEmployee compensation and 3B of sustainably-linked financings tied to ESG performance(1) Preliminary year-end estimate of Scope 1 & 2 emissions intensity; to be finalized, including progress on absolute emission reductions, in the 2021 Sustainability Report (Q2,2022) (2) Industry group of “Refiners & Pipelines” as defined bySustainalytics15

Sector Leadership20112019 Achievedemissionsreduction targetsset in 2005 Reduced CanadianOperations emissionsbelow 1995 levels Initiated TCFDaligned climatechange reporting2020 Set new targets Lower emissionsintensity 35%by 2030 Achieve Net-Zero by 205020212022 New Reduced emissionsintensity by 21% All new investments must alignwith our emissions goals Scope 3 metrics to Proactively work withorganizations advancingfrom 2018 baseline1track performance Linked emission goalsto compensationscience-based guidancefor Midstream2 Work with key supplierson emission reduction plans Include a Net-Zeroscenario analysis inSustainability Report (Q2)3 Further develop low-carbonpartnershipsAiming to be a global leader in ESG reporting and performance(1) Preliminary year-end estimates of Scope 1 & 2 emissions; to be finalized, including progress on absolute emission reductions, in the 2021 Sustainability Report (Q2,2022) (2) For example: Science Based Targetsinitiative, Institutional Investors Group on Climate Change and Climate Action 100 (3) IEA Net Zero Emissions (NZE) scenario16

ESG Integrated into Capital AllocationESG Integrated intoInvestment DecisionsEquityHurdleRateRiskPremiaEvaluation Against EnergyTransition Scenarios(Illustrative)Risk Premia Examples: Regulatory andpermitting risk Credit risk Capital cost Coal2050(STEPS) 22050(APS) 221 tCO2e/yrNet-zero scope 1and 2 emissionsUp to 60MW ofSolar SelfPowerCrude Oil2020Example: Ingleside Terminal AcquisitionCurrentFacilityEmissionsWind/SolarCost ofServiceReturnInvestments Must Align withEmissions Goals32050(SDS) 2Local communityScope 3 reductions(51 tCO2e)/yr Risks on climate policy and regulatorychanges built into equity hurdle rate Accelerated energy transition casesgenerate a range of utilization outlooks Aligned with our emissions goals andthose of our customers Carbon prices & costs to achieve netzero emissions modeled in cash flows Consider range of equity returns andpayback periods 8x run-rate EV/EBITDA multiple;immediately accretivePrudently investing capital to drive long-term value creation in alignment with our ESG Goals(1) Includes modern solid bioenergy, hydro, nuclear, and traditional biomass (2) International Energy Agency (2021), World Energy Outlook 2021, IEA, Paris.(3) Net-Zero Scope 1 and 2 emissions, consistent with our 2050 GHG emissions reduction goal17

2021 Financial ResultsQ4( Millions, except per share amounts)Liquids PipelinesGas Transmission & MidstreamGas Distribution & StorageRenewable Power GenerationEnergy ServicesEliminations and OtherAdjusted EBITDA1Cash distributions in excess of equity earningsMaintenance capitalFinancing costsCurrent income taxDistributions to Noncontrolling InterestsOtherDistributable Cash Flow1DCF per share1Adjusted earnings per 14)14,001 13,273313649(686)(915)(3,091) 672.742.42Quarterly Drivers Strong operational performance L3R in service & Moda acquisition Mainline toll provision (July 1 to Dec. 31) Higher earnings from DCP & Aux Sable Warmer than normal weather in Q4 Weaker USD translation Operating segment impacts; partially offset byhedging program in Eliminations & Other Maintenance capex spend timingHigh system utilization & project execution underpins strong full year financial results(1) Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA), Adjusted Earnings and Distributable Cash Flow (DCF) are non-GAAP measures.Reconciliations to the nearest GAAP measures are included in the Q4 earnings release and other documents available at www.enbridge.com.18

2022 Financial OutlookEBITDA Guidance1DCF/share Guidance1( Billions) 15.0 - 15.6 14.020212022e 5.20 - 5.50 4.962021Outlook ConsiderationsMainlinePerformance Average utilization of 2.95 mmbpd Seasonal customer maintenance(Q2 and Q3)Inflation(Medium Term) 80% of revenues have partial to fullinflation protectionInterestRates Pass-through in COS assets Fixed rate debt / forward hedgesHigherTax Rates Pass-through in COS assets Existing and new tax poolsStrengtheningCanadian Dollar Earnings/Cash flows largely hedged(avg of 1.28) USD debt translation improvement2022eSolid EBITDA & DCF growth outlook(1) Adjusted EBITDA and DCF/share are non-GAAP measures. Reconciliations to the nearest GAAP measures are included in the Q4 earnings release and other documents available at www.enbridge.com.19

Strong Balance Sheet2022 Funding Plan6.0x5.5xDebt to EBITDA Outlook( Billions) 0.75 Preferred Shares 0.75 Hybrid Securities 6.5 7Debt MaturitiesDebt Funding5.0xTarget Range: 4.5x – 5.0x4.5x4.0x 4.5Secured GrowthCapital Spend 1 MaintenanceUses 5InternalCash Flow1Sources 0.75B of preferreds replaced with low-rate hybrid debt Selectively employ sustainability-linked debt issuances 1.5B Normal Course Issuer Bid program in place3.5x3.0x2022e2023e2024e Annualized cash flows from 2021 growth capitaldrives metric to low end of range Flexibility to execute on organic growth opportunitiesand return of capitalExecutable funding plan with projected leverage within lower end of target range(1) Internally generated cash flow net of common dividends.20

Secured Growth al ( B)GasTransmissionModernization ProgramCOS2022-20252.2 USDOther ExpansionsTOP2022-20250.4 USDGasDistribution& StorageDistribution SystemCOS2022-20241.8 CADTransmission/Storage AssetsCOS2022-20240.8 CADNew Connections/ExpansionsCOS2022-20240.7 CADEast-West Tie-LinePPA20220.2 CADSolar Self-PoweringPPA2022-20230.2 USDPPALate 20220.9 CADPPA20230.7 CADPPA20240.9 CADPPA20230.1 CADRenewableSaint-Nazaire Offshore2Power & NewFécamp Offshore2EnergiesCalvados Offshore2Provence Grand LargeTotal 2022-2025 Secured Capital ProgramCapital Spent to Date 10B3 1B4Executing on Secured Program 17B 3B 10B2021 & 2022Additions52022 SecuredCapital Program 10B2021 SecuredCapital Program2021 SecuredCapital In ServiceDiversified secured capital program supports growth through 2024(1) COS – Cost of Service, TOP – Take or Pay, PPA – Power Purchase Agreement (2) Project is financed primarily through non-recourse project level debt. Enbridge’s equity contribution will be 0.2B for Saint-Nazaire, 0.1B for Fécampand 0.1B for Calvados. Reflects the sale of 49% of our interest in the project to CPP Investments which closed in the first quarter of 2021. (3) Rounded, USD capital has been translated to CAD using an exchange rate of 1 U.S. dollar 1.25 Canadian dollars. Euro capital has been translated to CAD using an exchange rate of 1 Euro 1.55 Canadian dollars (4) As at December 31, 2021 (5) Since December 7th, 2021, inclusive of Enbridge Day announcements21

Capital Allocation Framework1Protect BalanceSheet2SustainableReturn of Capital3Further OrganicGrowthCore AllocationExcess AllocationHigh Priority InvestmentsDrive Sustainable LongTerm GrowthDeploy Incremental Capacityto Drive Additional Growthand Value 3-4B annually 2B annually Enhance existing returns Other organic growth Complete secured projects Share repurchases1 Low capital intensity organicexpansions & optimizations Asset acquisition Regulated utility and GasTransmission modernization Reduce debt below rangeDisciplined investment of financial capacity to maximize long-term growth & value creation(1) Normal Course Issuer Bid approved by the Toronto Stock Exchange in December 202122

3-Year Outlook Through 2024Value PropositionDCF/share1 OutlookResiliency and longevity of cash flows5-7%Growing investable free cash flowExecuteRevenueSecuredInflators &CapitalProductivityProgramEnhancementsCapital discipline, return of capitalSolid conventional long-term growthDeployExcessCapacityCAGR through2024Extensive low-carbon opportunity setESG leadership2021e2024eRobust growth outlook provides for an attractive investment opportunity(1) Adjusted EBITDA, DCF and DCF/share are non-GAAP measures. Reconciliations to the nearest GAAP measures are included in the Q4 earnings release and other documents available at www.enbridge.com.23

Organizational ChangesBill YardleyCynthia HansenMichele HarradenceVern YuEVP & President, Gas Transmissionand MidstreamEVP & President, Gas Transmissionand Midstream23 years1SVP & President, Gas Distributionand Storage8 years1EVP, Corporate Developmentand Chief Financial Officer28 years1RetiringA deep bench of executive talent and continued emphasis on development(1) Length of service at ENB24

Q&A

financial measures and non-GAAP ratios may be found in the Company's earnings news releases or in additional information on the Company's website, www.sedar.com or www.sec.gov. Unless otherwise specified, all dollar amounts in this presentation are expressed in Canadian dollars, all references to "dollars" or " " are to Canadian .

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