Company: ENBSF
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001193125-25-052058
Chunk: 31

Company: ENBRIDGE INC
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 31
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 unit EBITDA metric is tied to Liquids Pipelines. |

| 6 | Individual awards are differentiated based on meeting specific contributions that align to our strategic plan. |

The HRC Committee retains discretion to:

| • |     | change performance measures, scorecards and the award levels when it believes it is reasonable to do so, considering matters such as key performance indicators, performance relative to our compensation peer group, market conditions, and the business environment in which the performance was achieved |

| • |     | approve positive or negative adjustments to the calculated STIP award to reflect extraordinary events and other factors not contemplated in the original measures or targets |

| • |     | assess the strength of the performance metrics and determine the overall company performance payout |

In 2024, management recommended a downward adjustment to the safety results for employees and a further reduction for executives which was approved by the HRC Committee to emphasize the importance of individual and collective responsibility in ensuring safe operations. No further discretionary adjustments were made beyond standard normalizations to performance measures and scorecards. 37

Medium- and long-term incentives Enbridge’s medium- and long-term incentives for executives includes three primary vehicles: PSUs, RSUs and ISOs. The long-term incentive plan (“LTIP”) target mix is PSUs (60%), RSUs (20%), and ISOs (20%). Weighting the majority of the LTIP target mix with PSUs aligns to our compensation philosophy and motivates NEOs to focus on performance conditions including Enbridge’s three-year financial outlook, TSR relative to our performance peer group, and progressing sustainability. Payout is not guaranteed, and their value is determined based on each metric’s guidance range and specific performance criteria. Enbridge’s medium- and long-term incentives are forward-looking compensation vehicles, and as such, grants are considered part of the compensation for the year of grant and onward instead of in recognition of prior performance or previously granted awards. The various awards that apply to executives have different terms, vesting conditions, and performance criteria, mitigating the risk that executives produce only short-term results. This approach also benefits shareholders and helps maximize the ongoing retentive value of the medium- and long-term incentives granted to executives. Medium- and long-term incentive awards were granted in 2024 under the Enbridge Inc. 2019 Long Term Incentive Plan (“2019 LTIP”). The table below outlines the medium- and long-term incentive plans used in 2024:

|                        |                                                                 | PSUs                                                                                                                                                                |     |