New Energies - Compelling Opportunity Set

Investable Capacity ($ Billion) Adjusted EBITDA1 2022e $15.0-$15.6 Less: Cash Requirements² ~($4.5) Distributable Cash Flow¹ ~$11B Less: Dividends ~($7.0) (~65% payout) Add: Annual Debt Capacity³ ~2.0 Investable Capacity $5-6B Expect to generate $5-6B of annual investable capacity (1) Adjusted EBITDA, DCF and DCF/share are non-GAAP measures. Reconciliations to GAAP measures can be found at www.enbridge.com. (2) Consists of Maintenance Capital, Financing Costs, Current Income Taxes, Distributions to Noncontrolling Interests, Cash Distributions in Excess of Equity Earnings, and Other Non-Cash Adjustments (3) Assumes debt up to 4.7x ENBRIDGE® 25

View entire presentation