Growing Renewable Platform
Q3 Financial Results
ENBRIDGE®
Q3
YTD
($ Millions, except per share amounts)
2022
2021
YOY
2022
2021
YOY
Liquids Pipelines
2,269
1.898
Gas Transmission & Midstream
1,158
986
6,581 5,623
3,300 2,928
Gas Distribution & Storage
293
296
1,389 1,403
Renewable Power Generation
113
89
400
356
Energy Services
(132)
(116)
(302) (277)
Eliminations and Other
57
116
252
Adjusted EBITDA1
3,758
3,269
Cash distributions in excess of equity earnings
9
52
15% 11,620
153
281
10,314
248
13%
Maintenance capital
(215)
(142)
(466) (412)
Financing costs
(918)
(757)
(2,611) (2,251)
Current income tax
(129)
(89)
(391) (210)
Distributions to Noncontrolling Interests
(60)
(66)
Other
56
23
Distributable Cash Flow¹
2,501 2,290 9%
DCF per share¹
1.24
1.13
10%
Adjusted earnings per share1
0.67
0.59
14%
2.18
(184) (207)
199
72
8,320 7,554 10%
4.11
3.73 10%
2.06 6%
Strong operational performance year to date
Quarterly Drivers
↑ Operational performance
(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 Q3 earnings release and other documents available at www.enbridge.com; (2) Line 3 Replacement (3) Included in guidance
L3R2 in service & Ingleside
acquisition
TETCO rate increase
Strong European renewable
contributions
Stronger USD
Mainline toll provision³
Lower capitalized interest
& higher interest rates
Cash taxes on higher earnings
Maintenance capex timing
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