Company: ENBSF
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001193125-25-052058
Chunk: 27

Company: ENBRIDGE INC
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 27
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 as disclosed in the summary compensation table. Average total direct compensation is taken by dividing the total direct compensation from the summary compensation table by the number of named executives in any given year. For 2024, the total direct compensation value for NEOs is 0.76% of our adjusted earnings of $6,037 million.The total return on Enbridge common shares has been positive from 2020 through 2024, recovering from a reduction in economic activity and demand for energy in 2020. Average total direct compensation paid to the NEOs corresponds to the movement of Enbridge’s shareholder return over the same period.34
2024 compensation decisions Market review In 2024, the HRC Committee engaged Mercer to gather and assess current market compensation data for the NEOs to validate that our programs are appropriate and market competitive. This assessment indicated that the NEOs’ total direct compensation continues to lag the compensation peer group median year over year. Base salary Base salary is the principal fixed source of cash compensation provided to the President & CEO and other NEOs. Base salary reflects each executive’s level of responsibility, capabilities and experience in the context of their role and the market. Base salaries are reviewed annually and increases may be provided when an executive assumes increased responsibilities or significantly deepens their knowledge and expertise, or when there is a material change in the compensation levels of comparable roles in the compensation peer group. Mr. Hedgebeth was a new NEO in 2024 and his base salary was set relative to the scope and responsibilities of his role, with consideration for external market data and internal equity. Effective April 1, 2024, all NEOs received base salary increases that aligned with the approved merit budget.

| Executive             |     | Base salary       
 increase          
 April 1, 2024 (%) |     | Base salary at 
   December 31, 
     20241  ($) |
|:----------------------|:----|:------------------|:----|---------------:|
| Gregory L. Ebel       |     | 3.7%              |     |      2,013,480 |
| Patrick R. Murray     |     | 4.0%              |     |        764,400 |
| Cynthia L. Hansen     |     | 4.0%              |     |        979,414 |
| Colin K. Gruending    |     | 4.0%              |     |        910,000 |
| Reginald D. Hedgebeth |     |