Ms. Suzanne Wilton reports

ENBRIDGE PROVIDES NOTICE OF SERIES L PREFERRED SHARES CONVERSION RIGHT AND ANNOUNCES RESET DIVIDEND RATES

Enbridge Inc. does not intend to exercise its right to redeem its currently outstanding cumulative redeemable preference shares, Series L, on Sept. 1, 2017. As a result, subject to certain conditions, the holders of the Series L shares have the right to convert all or part of their Series L shares on a one-for-one basis into cumulative redeemable preference shares, Series M, of Enbridge, on Sept. 1, 2017. Holders who do not to exercise their right to convert their Series L shares into Series M shares will retain their Series L shares.

The foregoing conversion right is subject to the conditions that: (i) if Enbridge determines that there would be less than one million Series L shares outstanding after Sept. 1, 2017, then all remaining Series L shares will automatically be converted into Series M shares on a one-for-one basis on Sept. 1, 2017; and (ii) alternatively, if Enbridge determines that there would be less than one million Series M shares outstanding after Sept. 1, 2017, no Series L shares will be converted into Series M shares. There are currently 16 million Series L shares outstanding.

With respect to any Series L shares that remain outstanding after Sept. 1, 2017, holders thereof will be entitled to receive quarterly fixed cumulative preferential cash dividends, as and when declared by the board of directors of Enbridge. The new annual dividend rate applicable to the Series L shares for the five-year period commencing on Sept. 1, 2017, to, but excluding, Sept. 1, 2022, will be 4.959 per cent, being equal to the five-year U.S. government Treasury bond yield of 1.809 per cent determined as of today plus 3.15 per cent in accordance with the terms of the Series L shares.

With respect to any Series M shares that may be issued on Sept. 1, 2017, holders thereof will be entitled to receive quarterly floating-rate cumulative preferential cash dividends, as and when declared by the board of directors of Enbridge. The dividend rate applicable to the Series M shares for the three-month floating-rate period commencing on Sept. 1, 2017, to, but excluding, Dec. 1, 2017, will be 1.055 per cent, based on the annual rate on three-month U.S. government Treasury bills for the most recent Treasury bills auction of 1.08 per cent plus 3.15 per cent in accordance with the terms of the Series M shares. The floating quarterly dividend rate will be reset every quarter.

Beneficial holders of Series L shares who wish to exercise their right of conversion during the conversion period, which runs from Aug. 2, 2017, until 5 p.m. EST on Aug. 17, 2017, should communicate as soon as possible with their broker or other intermediary for more information. It is recommended that this be done well in advance of the deadline to provide the broker or other intermediary with time to complete the necessary steps. Any notices received after this deadline will not be valid.

About Enbridge Inc.

Enbridge is North America's premier energy infrastructure company with strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities, and renewable power generation. The company safely delivers an average of 2.8 million barrels of crude oil each day through its Mainline and Express pipeline, accounts for nearly 64 per cent of U.S.-bound Canadian crude oil production, and moves approximately 20 per cent of all natural gas consumed in the United States, serving key supply basins and demand markets. The company's regulated utilities serve approximately 3.5 million retail customers in Ontario, Quebec, New Brunswick and New York. Enbridge also has a growing involvement in electricity infrastructure with interests in more than 2,500 megawatts of net renewable generating capacity and an expanding offshore wind portfolio in Europe.