New Energies - Compelling Opportunity Set

ENBRIDGE® Mainline Update Mainline Capacity During CTS¹ (mmbpd) ~2 1.1mmbpd of added capacity & optimizations ~3.1 2021 2010 • Maximize capacity and throughput Two Attractive Options 1) Incentive Tolling Arrangement: Aligned with customers Incentivized to optimize system Premium return 2) Cost of Service Model: Low-risk cash flows Rate base driven growth Path Forward Re-engaging with industry Pursuing both options in parallel Interim tolls remain in effect - Subject to refund . Manage operating and power costs Utility return Maintain crude batch quality Two paths to achieve a commercial model that ensures an appropriate Mainline return (1) Competitive Tolling Settlement 4

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