Enbridge Inc T.ENB

Notice of Series B and C Preferred Shares Conversion Right

[Betteryear2]

CALGARY, AB, May 2, 2022 /PRNewswire/ -Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) announced today that it does not intend to exercise its right to redeem its currently outstanding Cumulative Redeemable Preference Shares, Series B (Series B Shares) (TSX:  ENB.PR.B) or its right to redeem its currently outstanding Cumulative Redeemable Preference Shares, Series C (Series C Shares) (TSX: ENB.PR.C) on June 1, 2022. As a result, subject to certain conditions, the holders of the Series B Shares have the right to convert all or part of their Series B Shares on a one-for-one basis into Series C Shares on June 1, 2022 and the holders of the Series C Shares have the right to convert all or part of their Series C Shares on a one-for-one bases into Series B Shares on June 1, 2022. Holders who do not exercise their right to convert their Series B Shares into Series C Shares will retain their Series B Shares and holders who do not exercise their right to convert their Series C Shares into Series B Shares will retain their Series C Shares.