CALGARY, AB, Aug. 5, 2025 /PRNewswire/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) announced today that it does not intend to exercise its right to redeem its currently outstanding Cumulative Redeemable Preference Shares, Series 15 (Series 15 Shares) (TSX: ENB.PF.G) on September 1, 2025. As a result, subject to certain conditions, the holders of the Series 15 Shares have the right to convert all or part of their Series 15 Shares on a one-for-one basis into Cumulative Redeemable Preferen ...

Core Viewpoint - Enbridge Inc. will not redeem its Cumulative Redeemable Preference Shares, Series 13 on June 1, 2025, allowing holders to convert their shares into Series 14 Shares under certain conditions [1][2]. Summary by Sections Conversion Rights - Holders of Series 13 Shares can convert their shares into Series 14 Shares on a one-for-one basis on June 1, 2025, unless there are fewer than 1,000,000 Series 13 or Series 14 Shares outstanding [2]. Dividend Information - The annual dividend rate for Series 13 Shares from June 1, 2025, to June 1, 2030, will be 5.395%, based on the five-year Government of Canada bond yield of 2.735% plus an additional 2.66% [3]. - Series 14 Shares will have a floating quarterly dividend rate starting at 1.33841% for the period from June 1, 2025, to September 1, 2025, which is based on the three-month Government of Canada treasury bill rate plus 2.66% [4]. Conversion Period - The conversion period for beneficial holders of Series 13 Shares runs from May 2, 2025, until 5:00 p.m. (EST) on May 20, 2025, and holders are advised to contact their brokers promptly to facilitate the conversion [5].