Mr. Matthew Akman reports

ENBRIDGE TO EXPAND PARTNERSHIP WITH EDF RENEWABLES WITH INVESTMENT IN FOX SQUIRREL SOLAR PROJECT

Enbridge Inc. has signed a definitive agreement to participate in the construction and operation of the Fox Squirrel solar project, through a 50-per-cent interest in a joint venture with EDF Renewables.

Fox Squirrel is a ground-mounted solar facility under construction in Madison county, Ohio. The initial phase is expected to generate approximately 150 megawatts of solar energy and be in service by year-end. The project will be constructed in three phases and is designed to ultimately deliver up to 577 megawatts of renewable energy to the utility grid by the end of 2024. Enbridge will invest $149-million (U.S.) in the first phase and plans to reach a final investment decision on the following phases throughout 2024, assuming certain conditions are met.

The project has 20-year fixed-price power purchase agreements with a strong investment-grade counterparty for the full generation capacity.

"This partnership expands Enbridge's strategic relationship with EDF Renewables while driving accretive renewables growth in North America. Fox Squirrel solar project will benefit the surrounding communities by adding local jobs, generating additional tax revenues for Madison county and will ultimately power approximately 118,000 Ohio homes with renewable energy. The project is expected to be immediately accretive to DCF per share and will be complementary to both our growth outlook and energy transition leadership," said Matthew Akman, executive vice-president of corporate strategy and president of power.

About Enbridge Inc.

Enbridge safely connects millions of people to the energy they rely on every day, fuelling quality of life through its North American natural gas, oil or renewable-power networks and its growing European offshore wind portfolio. Enbridge is investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on two decades of experience in renewable energy to advance new technologies, including wind and solar power, hydrogen, renewable natural gas, and carbon capture and storage. The company is committed to reducing the carbon footprint of the energy it delivers, and to achieving net-zero greenhouse gas emissions by 2050.

We seek Safe Harbor.