Company: ENBSF
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001193125-25-052058
Chunk: 59

Company: ENBRIDGE INC
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 59
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 dates until February 2019 and have various terms expiring on or before February 2026. |

Other stock-based awards

| • |     | Other stock-based awards. In addition to the Assumed Spectra LTIP Awards, Spectra Energy had other equity-based or equity-related awards representing a right to acquire or receive shares of Spectra Energy common stock or payments or benefits measured by the value thereof (“Spectra Energy other awards”) outstanding under the Spectra Energy Executive Savings Plan and the Spectra Energy Directors’ Savings Plan (“Spectra Savings Plans”). |

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| • |     | Treatment upon closing of the Merger Transaction. At the closing of the Merger Transaction, each outstanding Spectra Energy other award was automatically converted into a right to acquire or receive benefits measured by the value of Enbridge shares, on the same terms and conditions as were applicable to the Spectra Energy other award immediately prior to the closing. As converted, the number of Enbridge shares subject to such other award is equal to the product (rounded down to the nearest whole number) of (i) the number of shares |

| of Spectra Energy common stock subject to such award immediately prior to the closing and (ii) the Exchange Ratio. The Spectra Savings Plans have trust funding vehicles (commonly referred to as rabbi trusts) (“Spectra Savings Plan Trusts”). Obligations to fund the Spectra Savings Plan Trusts were triggered in connection with the Merger Transaction. For any share-settled Spectra Energy other awards, the Enbridge shares used to settle such awards will be obtained on the market by the trustee of the Spectra Savings Plan Trusts. |

Quantification of equity-based compensation Set forth below are the number of Enbridge shares issuable under the Spectra 2007 LTIP in connection with the exercise or settlement of the Assumed Spectra Energy Awards outstanding as of December 31, 2024.

| Total Enbridge shares            
 issuable under Spectra 2007 LTIP |     | Percentage of issued and    
 outstanding Enbridge shares |
| 596,105                          |     | 0.0274%                     |

Termination provisions of Spectra Energy options The termination provisions for the Spectra Energy options, are described below.

| Reason for termination                                                                                                           |     | Provisions                                                                                                                                                                                                                                                    |
| Voluntary termination                                                                                                            
 (not retirement eligible)                                                                                                        |     | The unvested portion of such an award terminates immediately.   Vested Spectra Energy options