Company: ENBSF
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001193125-25-052058
Chunk: 62

Company: ENBRIDGE INC
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 62
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 so that they have an ongoing stake in the Company and are aligned with the interests of shareholders. Within five years of becoming a director, each director is required to hold at least US$945,000 in Enbridge shares and/or DSUs, being three times the annual Board retainer of US$315,000. See “Change in director equity ownership” on page 69 for more information. If a decrease in the market value of Enbridge shares results in a director no longer meeting the share ownership requirements, we expect the director to purchase additional Enbridge shares in order to satisfy the minimum threshold. DSUs are paid out when a director retires from the Board. They are settled in cash, based on the weighted average of the trading price of common shares on the TSX for the last five trading days before the date that is three trading days before the payment date, multiplied by the number of DSUs the director holds. Directors may not engage in equity monetization transactions or hedges involving securities of Enbridge (see “Insider trading and prohibition on hedging” on page 27). 66

Director compensation components Our Directors’ Compensation Plan has four components:

| • |     | an annual retainer |

| • |     | an annual retainer if they serve as the Chair of the Board or chair of a Board committee |

| • |     | a fee for travelling to Board and Board committee meetings from the director’s home state or province to a meeting in another state or province |

| • |     | reimbursement for reasonable travel and other out-of-pocket expenses relating to their duties as a director |

We do not have meeting attendance fees. Our Directors’ Compensation Plan has been in effect since 2004 and was revised most recently in 2023. The table below shows the fee schedule for directors in 2024. Directors are paid quarterly. Mr. Ebel does not receive any director compensation because he is compensated in his role as our President & CEO. We have not granted stock options to directors since 2002. Directors can receive their retainer in a combination of cash, Enbridge shares and DSUs, but they must receive a minimum amount in DSUs. Travel fees are paid in cash.

| 2024 directors’ compensation plan retainers |     |               |
| Compensation component                      |     | Annual amount 
         (US$) |
| Board retainer                              |     |       300,000 |
| Additional retainers                        |     |               |
| Chair of the Board retainer