Company: ENBSF
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001193125-25-052058
Chunk: 61

Company: ENBRIDGE INC
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 61
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65</div>

Director compensation

Philosophy and approach The Board is responsible for developing and implementing the Directors’ Compensation Plan and has delegated the day-to-dayresponsibility for director compensation to the Governance Committee. Our Directors’ Compensation Plan is designed with four key objectives in mind: While our executive compensation program is designed around pay for performance, director compensation is based on annual retainers. This is designed to meet our compensation objectives and to help ensure our directors are unbiased when making decisions and carrying out their duties while serving on our Board. The Governance Committee uses a peer group of companies to set the annual retainers for our Board and targets director compensation at or about the 50 thpercentile. See “Benchmarking to peers” beginning on page 30 for more information about our peer group and how we benchmark executive compensation.

| About DSUs   A deferred share unit (“DSU”) is a notional share that has the same value as one Enbridge common share. Its value fluctuates with variations in the market price of Enbridge shares. DSUs do not have voting rights but they accrue dividends as additional DSUs, at the same rate as dividends paid on our common shares. |

The Governance Committee reviews the Directors’ Compensation Plan every year, with assistance from management. Each year, as part of this review, the Governance Committee considers the time commitment

and experience required of our directors. The Governance Committee also reviews the Directors’ Compensation Plan to make sure the overall program is still appropriate and reports its findings to the Board. Every second year a comprehensive review, including peer analysis and benchmarking to the peer group, is conducted by an external consultant. This comprehensive review was completed in 2025. Following this review, and in line with our director compensation philosophy of targeting director compensation at or about the 50th percentile in our peer group, the Board of Directors, on recommendation of the Governance Committee, approved changes to directors’ compensation in 2025, effective January 1, 2025, including a US$15,000 increase in the annual Board retainer and a US$5,000 increase in the annual Sustainability Committee and Safety and Reliability Committee Chair retainers. All non-employeedirector compensation in 2024 was paid under the Directors’ Compensation Plan. We do not compensate non-employeedirectors under our 2019 Long Term Incentive Plan for employees. All retainers are payable in U.S. dollars regardless of director residency. Director share ownership requirements We expect directors to own Enbridge shares