Company: ENBSF
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001193125-25-052058
Chunk: 21

Company: ENBRIDGE INC
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 21
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 manner that does not encourage individuals to take inappropriate or excessive risks that could have material adverse impact on the Company. Compensation risk mitigation practices Enbridge uses the following compensation practices to mitigate risk:

| • |     | a pay-for-performance philosophy that is embedded in the compensation design |

| • |     | a mix of pay programs benchmarked against a relevant compensation peer group, which contains companies that are generally similar in size to Enbridge, primarily in terms of enterprise value, and secondarily, market capitalization and assets |

| • |     | compensation programs that include a combination of short-, medium- and long-term elements that provide executives with an incentive to consider both the immediate and long-term implications of their decisions |

| • |     | program provisions whereby executives are compensated for their short-term performance using a combination of financial performance and operational metrics in areas such as safety, project, and sustainability performance that support a balanced |

| perspective and are a mix of both leading (proactive/preventative) and lagging (incident-based) indicators |

| • |     | a rigorous approach to goal setting and a process of establishing targets with multiple levels of performance, which mitigate excessive risk-taking that could harm Enbridge’s value or reward poor judgment of executives |

| • |     | performance thresholds that include both minimum and maximum payouts |

| • |     | stock award programs that vest over multiple years and are aligned with overall stock price appreciation to drive value for Enbridge shareholders |

| • |     | share ownership guidelines that require executives to have a meaningful equity stake in Enbridge to align their interests with those of Enbridge shareholders |

| • |     | Insider Trading Guidelines that include prohibition on hedging provisions to prevent activities that would weaken the intended pay-for-performance link |

| • |     | two incentive compensation clawback policies: one that allows Enbridge to recoup, from covered members of senior management, certain overpayments of incentive compensation including all cash bonuses and equity-based incentive awards granted or paid to individuals engaged in fraud or willful misconduct; and another policy that requires Enbridge to recover erroneously awarded incentive-based compensation received by covered executive officers in the event that Enbridge is required to prepare a qualifying accounting restatement (subject to certain exceptions) |

The HRC Committee has considered the risk related to the Company’s compensation programs and has concluded that the programs do not encourage excessive or inappropriate risk-taking and are aligned with the long-term interests of shareholders. Insider trading and prohibition on hedging We have adopted Insider Trading Guidelines governing the purchase, sale and/or