ENB Earnings

capacity to generate durable, long‑term value for shareholders while delivering safe and reliable service to our customers and communities. We're on track to meet our financial guidance once again this year, and maintained our dividend aristocrat status with another year of dividend increases, further reinforcing our status as a first-choice investment opportu

elieve’’, “estimate’’, ‘‘expect’’, ‘‘forecast’’, ‘‘intend’’, “likely”, ‘‘plan’’, ‘‘project’’, ‘‘target’’, and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information or statements included or incorporated by reference in this document include, but are not limited to, statements with respect to the following: our

nt include, but are not limited to, statements with respect to the following: our corporate vision and strategy, including our strategic priorities and enablers; 2026 financial guidance and near term outlook, including projected DCF per share, EPS and adjusted EBITDA and expected growth thereof; expected dividends, dividend growth and payout policy; expected s

amended (“FATCA”), or any successor version thereof, or any similar legislation imposed by any other governmental authority, (ii) any treaty, law, regulation or other official guidance enacted by Canada implementing FATCA or an intergovernmental agreement with respect to FATCA or any similar legislation imposed by any other governmental authority, or (iii) an

we announced 2026 guidance highlighted by a 3% dividend increase, our 31 st consecutive annual increase, adding to our dividend aristocrat status. We also announced 2026 EBITDA guidance of $20.2 to $20.8 billion, up from our 2025 mid-point of $19.7 billion. We expect strong growth in 2026 from new projects entering service, as well as recent rate settlements a

tals Management develops strategic view of energy fundamentals, business environment and the stakeholder landscape Gather Board input Management discusses fundamentals, business outlook, key strategic priorities and recommendations with the Board at the planning session for input and feedback Revise and update Management uses its view of energy fundamentals an

k, policies, and programs Enbridge employs a robust governance framework aligned to leading industry standards including National Institute of Standards and Technology (“NIST”) guidance and Transportation Security Administration Pipeline Security Guidelines. Our cybersecurity team uses several layers of defense and protection technologies, cybersecurity expert

and predictability across all franchises • Increased the 2026 quarterly dividend by 3% to $0.97 ($3.88 annualized) per share, reflecting the 31st consecutive annual increase • Reaffirmed 2026 full year financial guidance and multi-year financial outlook • Placed $5 billion of organic growth capital into service in 2025 • Sanctioned $14 billion of organic grow

elieve’’, “estimate’’, ‘‘expect’’, ‘‘forecast’’, ‘‘intend’’, “likely”, ‘‘plan’’, ‘‘project’’, ‘‘target’’, and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information or statements included or incorporated by reference in this document include, but are not limited to, statements with respect to the following: our

nt include, but are not limited to, statements with respect to the following: our corporate vision and strategy, including our strategic priorities and enablers; 2026 financial guidance and near term outlook, including projected DCF per share, EPS and adjusted EBITDA and expected growth thereof; expected dividends, dividend growth and payout policy; expected s

e; the Company expects to finish the year in the upper half of the EBITDA range of $19.4 billion to $20.0 billion, and at the midpoint for the DCF per share range • The Company reaffirmed its 2023 to 2026 compound annual growth rate outlook of 7-9% for EBITDA*, 4-6% for adjusted earnings per share (EPS)* and approximately 3% for DCF per share*, and post 2026 g

vidend aristocrat status, is underpinned by our growing cash flows and supports Enbridge’s first-choice investment proposition.” 2026 FINANCIAL OUTLOOK Enbridge is issuing 2026 guidance for EBITDA of $20.2 billion to $20.8 billion and DCF per share* of between $5.70 to $6.10. In addition to the information provided below, the Company has posted supporting mate

ompany has posted supporting materials to the Investor Relations section of the Enbridge Inc. website (link). EBITDA Guidance 1 ($ millions) 2 2026e Key Growth Drivers vs. 2025 Guidance Liquids Pipelines ~$9,600 • Volumes and performance consistent with 2025 Gas Transmission ~$5,500 • Contributions from organic projects placed into service • Increased rates on

amended (“FATCA”), or any successor version thereof, or any similar legislation imposed by any other governmental authority, (ii) any treaty, law, regulation or other official guidance enacted by Canada implementing FATCA or an intergovernmental agreement with respect to FATCA or any similar legislation imposed by any other governmental authority, or (iii) an

UTLOOK The Company reaffirms its 2025 financial guidance for adjusted EBITDA between $19.4 billion and $20.0 billion and DCF per share between $5.50 and $5.90. The Company also reaffirms its financial outlook presented at its Investor Day on March 4, 2025; • 2023 to 2026 near-term growth of 7-9% for adjusted EBITDA, 4-6% for adjusted earnings per share (EPS) a

elieve’’, “estimate’’, ‘‘expect’’, ‘‘forecast’’, ‘‘intend’’, “likely”, ‘‘plan’’, ‘‘project’’, ‘‘target’’, and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information or statements included or incorporated by reference in this document include, but are not limited to, statements with respect to the following: our

nt include, but are not limited to, statements with respect to the following: our corporate vision and strategy, including our strategic priorities and enablers; 2025 financial guidance and near term outlook, including projected DCF per share, EPS and adjusted EBITDA and expected growth thereof; expected dividends, dividend growth and payout policy; expected s

l reach fair settlements in those jurisdictions with new rates effective for 2026. "In Renewable Power, we recently sanctioned the US$0.9 billion Clear Fork Solar project which we expect to enter service in 2027 and is fully backed by a long-term offtake agreement with Meta. This project demonstrates the growing demand for renewable power from blue chip compan

UTLOOK The Company reaffirms its 2025 financial guidance for adjusted EBITDA between $19.4 billion and $20.0 billion and DCF per share between $5.50 and $5.90. The Company also reaffirms its financial outlook presented at its Investor Day on March 4, 2025; • 2023 to 2026 near-term growth of 7-9% for adjusted EBITDA, 4-6% for adjusted earnings per share (EPS) a

elieve’’, “estimate’’, ‘‘expect’’, ‘‘forecast’’, ‘‘intend’’, “likely”, ‘‘plan’’, ‘‘project’’, ‘‘target’’, and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information or statements included or incorporated by reference in this document include, but are not limited to, statements with respect to the following: our

amended (“FATCA”), or any successor version thereof, or any similar legislation imposed by any other governmental authority, (ii) any treaty, law, regulation or other official guidance enacted by Canada implementing FATCA or an intergovernmental agreement with respect to FATCA or any similar legislation imposed by any other governmental authority, or (iii) an