Enbridge Inc. Announces Redemption of 6.375% Fixed-to-Floating Rate Subordinated Notes Series 2018-B due 2078 on April 15, 2023

CALGARY, AB, March 10, 2023 /PRNewswire/ - Enbridge Inc. (Enbridge or the Company) (TSX: ENB) today announced that it will redeem all of its outstanding 6.375% Fixed-to-Floating Rate Subordinated Notes Series 2018-B due 2078 (CUSIP: 29250N 477) (the "Notes") on April 15, 2023 (the "Redemption Date").

The Notes will be redeemed at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date (the "Redemption Price"). Unless Enbridge defaults in making payment of the Redemption Price on the Notes, interest will cease to accrue on and after the Redemption Date.

Enbridge has instructed Deutsche Bank Trust Company Americas, as the trustee and paying agent for the Notes (the "Trustee and Paying Agent"), to distribute a notice of redemption to all registered holders of the Notes on March 10, 2023. Copies of the notice of redemption and additional information relating to the procedure for the redemption of the Notes may be obtained from the Trustee and Paying Agent, Deutsche Bank Trust Company Americas c/o DB Services Americas, Inc. 5022 Gate Parkway, Suite 200 MS JCK01-0218 Jacksonville, FL 32256. For information call 1-800-735-7777.

This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any of the Notes or a notice of redemption under the indenture governing the Notes. This press release is qualified in its entirety by reference to the notice of redemption issued by Enbridge.

Forward-Looking Statements

Forward-looking information, or forward-looking statements, have been included in this news release to provide information about Enbridge, including statements with respect to the redemption of the Notes on April 15, 2023. This information may not be appropriate for other purposes. Although Enbridge believes these forward-looking statements are reasonable based on the information available on the date such statements are made and on processes used to prepare the information, such statements are not guarantees of future events and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual events to differ materially from those expressed or implied by such statements.

Enbridge's forward-looking statements are subject to risks and uncertainties, including, but not limited to those risks and uncertainties discussed in this news release and in the Company's other filings with Canadian and United States securities regulators. The impact of any one risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent and Enbridge's future course of action depends on management's assessment of all information available at the relevant time. Except to the extent required by applicable law, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made in this news release or otherwise, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements, whether written or oral, attributable to Enbridge or persons acting on its behalf, are expressly qualified in their entirety by these cautionary statements.

About Enbridge Inc.

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil or renewable power networks and our growing European offshore wind portfolio. We're 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. We're committed to reducing the carbon footprint of the energy we deliver, and to achieving net zero greenhouse gas emissions by 2050. Headquartered in Calgary, Alberta, Enbridge's common shares trade under the symbol ENB on the Toronto (TSX) and New York (NYSE) stock exchanges. To learn more, visit us at enbridge.com.

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SOURCE Enbridge Inc.