Company: ENBSF
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001193125-25-052058
Chunk: 15

Company: ENBRIDGE INC
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 15
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8 billion of accretive organic projects to our secured growth program which now sits at $26 billion. Enbridge also announced and closed three tuck-inacquisitions during the year which totaled approximately $1 billion. These additions are highly strategic natural gas and liquids assets in the Permian Basin and U.S. Gulf Coast, connected to Enbridge’s existing infrastructure, extending and optimizing our customer service offering. Our values of Safety, Integrity, Respect, Inclusion and High Performance guide every decision made at Enbridge. Safety is, and always will be, our highest priority. Despite having strong results in many areas of safety and reliability, in 2024 we experienced incidents in our gas distribution business resulting in fatalities. These incidents have deepened our resolve to do everything possible to prevent incidents like this in the future.

22

| 2024 achievements   •  Achieved over 37% total shareholder return (“TSR”) •  Record financial results, continuing our 19-year history of meeting or exceeding financial guidance •  Announced 30th consecutive annual dividend increase •  Completed the $19 billion acquisition of three premier U.S. natural gas utilities •  Placed over $5 billion of growth capital into service •  Sanctioned $8 billion of new organic growth diversified across all four business units •  Acquired equity stakes in the Whistler Pipeline joint venture and the Delaware Basin Residue (“DBR”) system, establishing a Permian Basin natural gas footprint •  Reached a negotiated settlement on Texas Eastern Pipeline •  Recycled over $3 billion of capital at attractive valuations •  Issued 23rd annual Sustainability Report |

DCF per share 1

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

Compensation highlights In considering executive compensation outcomes for the year, the HRC Committee assessed performance against financial, strategic and operational objectives that were approved by the Board at the beginning of the year and evaluated in the context of our compensation philosophy. The HRC Committee and Board also reviewed key performance indicators relative to our performance peer group, including dividend per share growth, earnings per share growth, distributable cash flow (“DCF”) per share growth and TSR, and based on the review, approved the 2024 incentive payouts. In