An anonymous director reports

ENBRIDGE ANNOUNCES PRICING OF OFFER BY SPECTRA ENERGY CAPITAL, LLC TO PURCHASE NOTES DUE IN 2032 AND 2038

Enbridge Inc. has released the consideration to be paid in the previously announced all cash tender offer by its wholly owned subsidiary, Spectra Energy Capital LLC, for any and all of Spectra Capital's outstanding 6.75-per-cent senior unsecured notes due 2032 and 7.5-per-cent senior unsecured notes due 2038. The offer will expire at 5 p.m. ET, today, March 6, 2018, unless extended.

The applicable reference yield, repurchase yield and total consideration for the notes are detailed in the attached table.

Security (Cusip No.)  Initial principal        U.S. treasury  Reference  Fixed spread  Repurchase  Total consideration
                           amount (U.S.)  reference security      yield                     yield    (per $1,000 (U.S.)
                                                                                                    principal of notes)
6.75-per-cent
senior unsecured
notes due 2032
(26439RAK2)                $166,975,000         2.75% UST due     3.132%      +125 bp      4.382%            $1,244.95
                                                Nov. 15, 2047
7.5-per-cent
senior unsecured
notes due 2038 
(84755TAC1)                $112,509,000         2.75% UST due     3.132%      +170 bp      4.832%            $1,344.82
                                                Nov. 15, 2047

Upon consummation of the tender offer, Spectra Capital will pay total consideration of $1,244.95 (U.S.) and $1,344.82 (U.S.), respectively, for each $1,000 (U.S.) principal amount of 2032 notes and 2038 notes tendered and accepted for payment, plus accrued and unpaid interest up to, but not including, March 9, 2018, under the tender offer. The total consideration was calculated in the manner described in the offer to purchase, dated Feb. 28, 2018, by reference to a fixed spread specified in the table above plus the yield to maturity based on the bid-side price of the applicable United States treasury reference security specified in the table above at 11 a.m. ET on March 6, 2018.

To receive such consideration, holders of notes must validly tender and not validly withdraw their notes or timely comply with the guaranteed delivery procedures set forth in the offer to purchase prior to the expiration of the tender offer. Notes tendered may be withdrawn at any time prior to the expiration of the tender offer, by following the procedures described in the offer to purchase. Holders of notes are urged to read the offer to purchase carefully before making any decision with respect to the tender offer.

J.P. Morgan Securities LLC is acting as dealer manager for the offer. D.F. King & Co. Inc. is acting as the tender and information agent for the offer. Questions regarding the tender offer may be directed to: J.P. Morgan Securities at 866-834-4666 (toll-free) or 212-834-3424. The offer to purchase and the notice of guaranteed delivery being provided in connection with the notes may be accessed on the D.F. King website, or free of charge, by calling toll-free at 877-783-5524 (bankers and brokers can call collect at 212-269-5550).

The obligation of Spectra Capital to accept for purchase and to pay the total consideration and the accrued and unpaid interest on notes purchased pursuant to the tender offer is not subject to any minimum tender condition, but is subject to satisfaction or waiver of certain other conditions described in the offer to purchase.

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 approximately 65 per cent of American-bound Canadian crude oil exports 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 3.7 million retail customers in Ontario, Quebec and New Brunswick. Enbridge also has interests in more than 2,500 megawatts of net renewable generating capacity in North America and Europe.

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