Company: ENBSF
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001193125-25-052058
Chunk: 26

Company: ENBRIDGE INC
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 26
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, above the guidance range, and an increase over 2023 of 13% •  Achieved DCF per share of $5.561, within the recast guidance range •  Increased the 2025 quarterly dividend by 3% to $0.9425 ($3.77 annualized) per share, reflecting the 30th consecutive annual increase within our target payout ratio •  Within target debt-to-EBITDA range of 4.5x to 5.0x1 •  Rated A (low) by DBRS, BBB+ by S&P and Fitch, and Baa2 by Moody’s •  Managed foreign exchange and interest rate volatility with enterprise-wide financial risk management program •  Announced sale of East West Tie interest at strong valuation for cash proceeds of $129 million                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 4.         |     | Participate in energy transition over time           |     | •  Issued 23rd annual Sustainability Report •  Continued progress on our Indigenous Reconciliation Action Plan commitments •  Advanced geological work and engineering for the Wabamun Carbon Hub •  Acquired a 45% equity interest in OnStream and agreed to act as OnStream’s preferred CO2 transportation provider •  Brought Fécamp offshore wind, Provence Grand Large, and Fox Squirrel Solar Phase 2 and 3 into service                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |

| 1 | Adjusted EBITDA, DCF per share and debt-to-EBITDA are non-GAAP measures; these measures are defined and reconciled in the Non-GAAP and other financial measures section of Appendix B. |

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#### Aligning executive compensation and shareholder returnPerformance graphThe chart to the right shows the value of a $100 investment made on January 1, 2020, in Enbridge common shares, the S&P/TSX Composite Index and Enbridge’s compensation peer group at the end of each of the last five years (assuming reinvestment of dividends throughout the term) and shows the growth in total direct compensation for the NEOs reported in the summary compensation table over the same period. For the purpose of the graph, returns are shown in local currency.Total direct compensation includes base salary, short-term incentive award paid, and the grant value of medium- and long-term incentive awards