Al Monaco President & Vern Yu EVP, Corporate Development & Q4 2021 Financial Results & Business Update Chief Executive Officer Chief Financial Officer
Agenda Enbridge Day Themes Growing Organically 2021 Recap Energy Fundamentals Modernizing Systems and Achieving Net Zero Business Update Sustainable North ESG American Energy Drives Exports Financial Performance Growing…
2021 Recap Strong operating and financial performance Significant EBITDA2 Superior Dividend Growth Growth Advanced ESG goals (Billion, CAD) (Dividend per Share) 14B of growth capital into service1 15.0-15.6 3.44 2B new projects…
Energy Fundamentals Outlook Global Demand Outlook North American Supply3 North American Exports3 Announced Policies Scenario1 Crude Oil Natural Gas Crude Oil LNG (EJ) STEPS (mmbpd) (Bcf/d) (mmbpd) (Bcf/d) Other2 SDS 15 18 116 107…
Large Organic Opportunity Set Organic Growth Priorities Up to 6B/year of Organic Growth Potential Maximize returns within low-risk Supplements 2022-2024, drives post-2024 growth commercial model Gas Transmission Gas Distribution Pursue…
Conventional Business Update Gas Distribution & Storage Gas Transmission Liquids Pipelines Executing 1.0B 2022 capital US2.6B capital program in execution Capital efficient Mainline & market program Announced US0.4B TETCO Phase II…
Mainline Commercial Strategy Update Two Concurrent Options Estimated Execution Timeline in Progress Dec 2021 Mid 2022 Late 2022 Mid 2023 Late 2023 1) Incentive Tolling Arrangement: Aligned with customers Stakeholder Commercial Evaluate…
Advancing Crude Export Strategy USGC Competitive Position EIEC Development Update Solar Self-Power ETCOP Seaway Solar Development Gray Oak Site Cactus II EHOT SPOT 25% Enbridge Ingleside Targeting Net Zero of U.S. Energy…
Advancing LNG Export Strategy U.S. Gulf Coast Western Canada Cameron Extension Venice Extension LNG opportunities in Calcasieu Pass LNG Plaquemines LNG development US0.1B TETCO US0.3B TETCO Expansion TX expansion expansion BC…
Low-Carbon Energy Outlook Global Low-Carbon Investment Signposts Executing on Near-Term Investment Momentum Investment Opportunities (Cumulative, USD Trillions)1 (Visible investment through 2025) Attractive economic incentives Other…
Renewables Update European Offshore Wind N.A. Onshore Renewables Development Alberta Solar One UK 10.5 MW Dunkirk 600MW1 Lambertville, NJ 2.25 MW Fcamp 497MW 2023 Calvados 448MW 2024 2.6 GW2 Plummer Heidlersburg, PA Saint…
Carbon Capture & Storage Update North American Open Access Wabamun CCUS Strategy Carbon Hub Provide transportation and storage solutions Alexis Nakota Alexander CO2 Sioux Nation First Nation Utility-like commercial model & returns…
Renewable Natural Gas & Hydrogen Update Renewable Natural Gas Hydrogen ONTARIO QUEBEC ONTARIO Gatineau H2 Blending - 2025 H2 Montreal Sault Ste. Marie Ottawa Utility RNG Opportunities RNG RNG RNG RNG TORONTO RNG RNG RNG 7…
2021 ESG Performance Update Environment Social Governance ESG Ratings / Rankings (Latest report as of January 2022) GHG Emissions Workforce Diversity Board Diversity MSCI ESG A rating Intensity 35% Gender 40% Gender 40% Top 5% of…
Sector Leadership 2011 2019 2020 2021 2022 New Achieved Initiated TCFD- Set new targets Reduced emissions All new investments must align emissions aligned climate intensity by 21% with our emissions goals Lower emissions reduction…
ESG Integrated into Capital Allocation ESG Integrated into Evaluation Against Energy Investments Must Align with Investment Decisions Transition Scenarios Emissions Goals3 (Illustrative) Lower Example: Ingleside Terminal Acquisition…
Secured Growth Outlook Commercial Expected Executing on Secured Program Project Framework1 ISD Capital (B) Gas Modernization Program COS 2022-2025 2.2 USD Transmission Other Expansions TOP 2022-2025 0.4 USD 17B Distribution System…
Capital Allocation Framework Core Allocation Excess Allocation 1 Protect Balance Sheet High Priority Investments Drive Sustainable Long- Deploy Incremental Capacity to Drive Additional Growth Term Growth and Value 3-4B annually…
3-Year Outlook Through 2024 Value Proposition DCF/share1 Outlook Resiliency and longevity of cash flows Growing investable free cash flow 5-7% CAGR through Deploy 2024 Execute Excess Capital discipline, return of capital…
Organizational Changes Bill Yardley Cynthia Hansen Michele Harradence Vern Yu EVP & President, Gas Transmission EVP & President, Gas Transmission SVP & President, Gas Distribution EVP, Corporate Development and Midstream and…
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