Enbridge Inc. 6.375% Fixed-to-Floating Rate Subordinated Notes 2018-B Series due 2078

Coupon is fixed at 6.375% until 4/15/2023 after which it will float at a rate of 3 month Libor plus a spread of 3.593 until 4/15/2028. After 4/15/2028 until 4/15/2043 the coupon will be 3 month Libor plus a spread of 3.843%. From 4/15/2043 until 4/15/2078 the coupon will be 3 month Libor plus a spread of 4.593%.

Ticker: ENBA

Parent Ticker: ENB

OTC Grey Market Temporary Ticker: NA

Issuance Date: 04/05/2018

1st Call Date: 04/15/2023

Maturity Date: 04/15/2078

Shares Issued: 21,000,000

Overallotment Shares: 3,000,000

Coupon: 6.375%

Face Value: $25.00

Cumulative: No

Qualified: No

Quarterly Dividend Amount: 0.398

Payment Months: JAN, APR, JUL, OCT

Payment Day: 15

S&P Rating: BBB-

III Rating (In Regards to Dividend Safety Only): B

Moody Rating: Ba2

Fitch Rating: NR

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