Mr. Colin Gruending reports

ENBRIDGE TO EXTEND PERMIAN EXPORT VALUE CHAIN WITH ACQUISITION OF SALT CREEK MIDSTREAM'S CRUDE GATHERING BUSINESS

Through a wholly owned subsidiary, Enbridge Inc. has entered into a definitive agreement to acquire Salt Creek Midstream's crude oil gathering business, comprising 100 per cent of the Orla and Wink North systems and a 50-per-cent interest in the Delaware Crossing (DCX) system for cash consideration of $600-million (U.S.).

The business includes approximately 500 miles of crude oil gathering infrastructure located in the core of the Delaware basin, one of the most prolific and competitive crude oil producing regions in North America. The system serves a diversified group of more than 20 producers and is supported by approximately 320,000 net dedicated acres under long-term commercial agreements. With an average remaining contract life of approximately 10 years, the assets provide stable, long-term cash flows and a durable foundation for future growth.

The Orla, Wink North and DCX gathering systems have a combined 420,000 barrels per day of throughput capacity and 350,000 barrels of storage capacity and can deliver into multiple long-haul Permian crude egress pipelines including Enbridge's majority-owned Gray Oak Pipeline. The acquisition will provide a direct strategic connection between crude oil production in the Permian basin to export at Enbridge Ingleside Energy Center, North America's largest crude export terminal.

"The acquisition will extend Enbridge's presence deeper into the Permian Basin through the addition of a highly connected crude gathering platform." Colin Gruending, executive vice-president and president of Enbridge Liquids Pipelines. "These assets will strengthen our value chain in the Permian basin and Enbridge can now offer customers full wellhead to water integration via Gray Oak, Cactus II and the Enbridge Ingleside Energy Center."

Enbridge expects the transaction to be immediately accretive to distributable cash flow per share and earnings per share and the company's 2026 financial guidance remains unchanged by this announcement.

The transaction is expected to close later in 2026, subject to the satisfaction of customary closing conditions, including clearance from the Federal Trade Commission under Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Advisers

RBC Capital Markets acted as financial adviser to Enbridge. Sidley Austin LLP and Sullivan & Cromwell LLP were legal advisers to Enbridge.

About Enbridge Inc.

At Enbridge, the company safely connects millions of people to the energy they rely on every day, fueling quality of life through its North American natural gas, oil and renewable power networks, and its European offshore wind portfolio. The company is investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. The company is advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage. Headquartered in Calgary, Alta., Enbridge's common shares trade under the symbol ENB on the Toronto (TSX) and New York (NYSE) stock exchanges.

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