Company: ENBSF
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001193125-25-052058
Chunk: 16

Company: ENBRIDGE INC
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 16
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2024, our STIP design shifted to one company scorecard with certain variability of business unit financial performance, designed to align financial and non-financialgoals to drive collective outcomes across the business. We are pleased to share that we delivered strong financial results within the financial guidance range, executed on our business strategy, and advanced goals related to environmental sustainability, social, and governance practices, resulting in overall payouts for our NEOs ranging from 149% to 163% of target. Performance stock unit (“PSU”) awards are subject to pre-establishedand specific performance hurdles determined upon grant. The 2022 PSU grant vested in 2024 and achieved an overall result at target based on our three-year DCF per share growth targets and relative weighted TSR against our performance peer group over the three-year term. The awards earned were consistent with our pay-for-performancephilosophy, and more information is provided in the following materials. 23

Compensation philosophy Enbridge’s approach to executive compensation is governed by the HRC Committee and approved by the Board. A rigorous pay-for-performancephilosophy is embedded in our short-, medium-, and long-term compensation programs and designed to align with the interests of Enbridge shareholders and other stakeholders, through five main objectives:

| Align to Enbridge’s business strategy   •  Our compensation programs are designed to motivate management to deliver exceptional value by focusing on safe and reliable operations while maintaining financial strength and flexibility and executing on growth opportunities consistent with our low-risk business model   •  Compensation program payouts are designed to align with achievement of our strategic priorities and outcomes                                                                                         |
| Align to Enbridge’s values   •  Enbridge is committed to delivering steady, visible and predictable results, and operating our assets in an ethical and responsible manner   •  Our compensation programs reward behaviours and outcomes closely aligned to our values   •  We assess performance and compliance against our sustainability metrics                                                                                                                                                                                |
| Attract and retain a highly effective executive team   •  Incenting and engaging a high performing executive team is essential for achieving our strategic goals and desire to build a sustainable future for Enbridge   •  Total direct compensation is targeted at the median of our compensation benchmarking peer group of U.S. and Canadian companies to reflect Enbridge’s identity as a North American leader   •  Compensation programs reward employees for high performance and their potential for future contributions |

| Incent and reward for performance   •