Company: ENBSF
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001193125-25-052058
Chunk: 23

Company: ENBRIDGE INC
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 23
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 •  Three-year cliff vest   •  Realized value of units based on share price at vesting   •  Share-settled |     | •  Vest over four years and have a 10-year term   •  Realized value based on share price difference at grant date and at time of exercise |
| Objectives                     |     | •  Fixed cash compensation for performing day-to-day responsibilities of the role                                                                                  |     | •  Motivate delivery of results tied to executing the business strategy   •  Reward achievement for performance year                      |     | •  Align with the interests of shareholders   •  Motivate strong performance relative to external peers, long-term strategic goals, progressing sustainability, and longer-term value generation, and stock price appreciation |     | •  Align with the interests of shareholders   •  Motivate longer-term value generation and stock price appreciation            |     | •  Align with the interests of shareholders   •  Motivate longer-term value generation and stock price appreciation                       |

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Benchmarking to peers Total direct compensation for the NEOs is managed within a framework that involves input from and consideration by the President & CEO and the HRC Committee (the HRC Committee only in the case of the CEO) with Mercer providing independent advisory support. The competitiveness of this framework is based on market data extracted from third-party compensation surveys and publicly disclosed executive compensation information for comparable benchmark roles at peer companies. Enbridge targets overall total direct compensation for our NEOs at the median of our peer group, considering the skills, competencies and experience of each senior executive. Compensation peer group determination Enbridge uses a single North American peer group for executive compensation benchmarking in making compensation decisions. The following summarizes the key considerations and selection criteria for the compensation peer group of companies:

| Industry   •  Typically defined as low-risk regulated operations in the North American energy sector   •  The peer group is limited to those in the energy and infrastructure space, subject to the same external industry pressures and macroeconomic factors as Enbridge, rather than extending to other capital-intensive sectors   •  Aligns Enbridge to pay competitively against “best-in-class” companies whose executives are often the most knowledgeable about Enbridge’s core businesses |
| Size/complexity   • �