Company: ENBSF
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001193125-25-052058
Chunk: 50

Company: ENBRIDGE INC
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 50
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ive Stock Option Plan. |

| 3 | Awards granted under the Spectra 2007 LTIP were assumed by Enbridge at the closing of the Merger Transaction, as described in the “Assumed equity-based compensation awards from Spectra Energy” section. No further awards have been or will be granted under the Spectra 2007 LTIP following the closing of the Merger Transaction. |

| 4 | U.S. dollars have been converted to Canadian dollars using the published WM/Reuters 4 pm London year-end exchange rate of US$1 = C$1.4382 in 2024. |

| 5 | This weighted-average exercise price relates only to options granted under the 2019 LTIP. All other awards granted under the 2019 LTIP are deliverable without the payment of any consideration, and therefore these awards have not been considered in calculating the weighted average exercise price. |

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Awards granted and outstanding as of December 31, 2024

| Awards outstanding                 |     | Number outstanding |     | Percentage of total issued and 
 outstanding Enbridge shares    |
| 2019 LTIP1                         |     |         23,529,305 |     | 1.0802%                        |
| Incentive Stock Option Plan        |     |          4,988,130 |     | 0.2290%                        |
| Spectra 2007 LTIP – stock options2 |     |            596,105 |     | 0.0274%                        |

| 1 | Includes options and share-settled RSUs outstanding under the 2019 LTIP. |

| 2 | Awards granted under the Spectra 2007 LTIP as described in the “Assumed equity-based compensation awards from Spectra Energy” section. |

Plan restrictions – 2019 LTIP

| Enbridge shares reserved for issue under the 2019 LTIP                                                                             
 Enbridge shares that can be issued in a one-year period                                                                            
 The number of Enbridge shares that can be issued as incentive stock options (within the meaning of the U.S. Internal Revenue Code) |     | 49,700,000 in total, or 2.28% of Enbridge’s total issued and outstanding Enbridge shares as of December 31, 2024.   The total number of Enbridge shares reserved for issuance to Insiders pursuant to all security-based compensation arrangements of the Company shall not exceed 10% of the number of