Company: ENBSF
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001193125-25-052058
Chunk: 28

Company: ENBRIDGE INC
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 28
---
 4.0%              |     |        972,223 |

| 1 | 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. |

Short-term incentive

STIP awards are designed to align with goals to drive collective outcomes across the business. In 2024, the HRC Committee approved the shift to one company scorecard shared by all employees, with certain variability of business unit financial performance. This approach simplifies and streamlines the process of goal setting, measurement and tracking of performance, while increasing alignment, teamwork and collaboration across the organization. For our NEOs, STIP will be weighted 85% on the new Enbridge scorecard, reflecting key financial and non-financial results, and 15% on individual performance tied to measurable high-priorityand results-focused goals that align to our strategic plan.

| • |     | Financial objectives are based on DCF per share and EBITDA relative to near-term business priorities and financial results for the organization. |

| • |     | Non-financial objectives include safety, operational performance and key strategic objectives in line with the interests of clients, employees, shareholders and other stakeholders. |

| • |     | Individual performance objectives are established to align with financial, strategic, and operational priorities related to contributions to the overall organization. The President & CEO’s objectives are discussed with the Board and approved by the HRC Committee. Individual objectives for other NEOs are set in consultation with the President & CEO, that include customer and operational strategic outcomes important to each executive’s role and accountabilities. |

35

The HRC Committee approved the application of the following Enbridge scorecard metrics in 2024, that determined 85% of total STIP outcome for our NEOs:

| Metrics                             |                                                           | Description                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |     | Weight |     | 2024 Result                                                                                                                                                                                                                                                                          |     | Status |
| Enterprise financial performance    |                                                           | •  DCF per share target, threshold, and maximum were set using the external financial guidance range. For any payout to occur, Enbridge must achieve threshold performance, and for a maximum payout to occur, Enbridge must achieve the top of the guidance range, which allows for appropriate stretch in the plan                                                                                                                                                                                                                                                                               |     | 40%    |     | •  DCF per share1 achieved within the guidance range   •�