Mr. Jonathan Gould reports

ENBRIDGE PROVIDES NOTICE OF SERIES N 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 N, on Dec. 1, 2018. As a result, subject to certain conditions, the holders of the Series N shares have the right to convert all or part of their Series N shares on a one-for-one basis into cumulative redeemable preference shares, Series O, of Enbridge on Dec. 1, 2018. Holders who do not exercise their right to convert their Series N shares into Series O shares will retain their Series N shares.

The foregoing conversion right is subject to the conditions that: (i) if Enbridge determines that there would be less than one million Series N shares outstanding after Dec. 1, 2018, then all remaining Series N shares will automatically be converted into Series O shares on a one-for-one basis on Dec. 1, 2018; and (ii) alternatively, if Enbridge determines that there would be less than one million Series O shares outstanding after Dec. 1, 2018, no Series N shares will be converted into Series O shares. There are currently 18 million Series N shares outstanding.

With respect to any Series N shares that remain outstanding after Dec. 1, 2018, 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 N shares for the five-year period commencing on Dec. 1, 2018 to, but excluding, Dec. 1, 2023, will be 5.086 per cent, being equal to the five-year government of Canada bond yield of 2.436 per cent determined as of today plus 2.65 per cent in accordance with the terms of the Series N shares.

With respect to any Series O shares that may be issued on Dec. 1, 2018, 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 O shares for the three-month floating rate period commencing on Dec. 1, 2018, to, but excluding, March 1, 2019, will be 1.08 per cent, based on the annual rate on three-month government of Canada treasury bills for the most recent treasury bills auction of 1.73 per cent plus 2.65 per cent in accordance with the terms of the Series O shares (the floating quarterly dividend rate). The floating quarterly dividend rate will be reset every quarter.

Beneficial holders of Series N shares who wish to exercise their right of conversion during the conversion period, which runs from Nov. 1, 2018, until 5 p.m. EST on Nov. 16, 2018, 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 in order to provide the broker or other intermediary 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 2.9 million barrels of crude oil each day through its Mainline and Express pipeline; accounts for approximately 62 per cent of United States-bound Canadian crude oil exports; and moves approximately 22 per cent of all natural gas consumed in the U.S., serving key supply basins and demand markets.