New Energies - Compelling Opportunity Set

ENBRIDGE® Value Proposition Resiliency and longevity of cash flows ⚫ ESG Leadership Strong balance sheet Growing investable free cash flow • Solid conventional long-term growth. Extensive low-carbon opportunity set Capital discipline, return of capital <4.7x debt to EBITDA; BBB+ credit rating Up to $6B of annual organic capital investments Highly visible 5-7% DCF/s growth through 2024 ~$7+ billion in annual dividend payments $1.5 billion share repurchase program Robust TSR outlook provides for a very attractive investment opportunity 29 29

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