Enbridge Provides Notice of Series F Preferred Shares Conversion Right and Announces Reset Dividend Rates

CALGARY, AB, May 2, 2023 /PRNewswire/ - Enbridge Inc. (TSX:ENB.TO) (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 F (Series F Shares) (TSX:ENB-PR-F.TO) on June 1, 2023. As a result, subject to certain conditions, the holders of the Series F Shares have the right to convert all or part of their Series F Shares on a one-for-one basis into Cumulative Redeemable Preference Shares, Series G of Enbridge (Series G Shares) on June 1, 2023. Holders who do not exercise their right to convert their Series F Shares into Series G Shares will retain their Series F Shares.