Enbridge Announces Conversion Results for Series P Preferred Shares

Rhea-AI Summary

Enbridge Inc. announced that none of its outstanding Series P Shares will be converted into Series Q Shares due to insufficient tendered shares. The conversion deadline was February 15, 2024. Less than the required 1,000,000 Series P Shares were tendered for conversion.

Positive

• None.

Negative

• Insufficient tendered Series P Shares for conversion into Series Q Shares

CALGARY, AB, Feb. 15, 2024 /PRNewswire/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge) announced today that none of its outstanding Cumulative Redeemable Preference Shares, Series P (Series P Shares) will be converted into Cumulative Redeemable Preference Shares, Series Q (Series Q Shares) on March 1, 2024.

After taking into account all conversion notices received from holders of its outstanding Series P Shares by the February 15, 2024 deadline for the conversion of the Series P Shares into Series Q Shares, less than the 1,000,000 Series P Shares required to give effect to conversions into Series Q Shares were tendered for conversion.

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 and 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 more than a century of operating conventional energy infrastructure and two decades of experience in renewable power to advance new technologies including 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Media	Investment Community
Toll Free: (888) 992-0997	Toll Free: (800) 481-2804
Email: media@enbridge.com	Email: investor.relations@enbridge.com

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SOURCE Enbridge Inc.

FAQ

Why will none of Enbridge Inc.'s outstanding Series P Shares be converted into Series Q Shares?

None of the Series P Shares will be converted due to less than the required 1,000,000 Series P Shares being tendered for conversion.

When was the deadline for the conversion of Enbridge Inc.'s Series P Shares into Series Q Shares?

The deadline for conversion was February 15, 2024.

How many Series P Shares were required for conversion into Series Q Shares?

1,000,000 Series P Shares were required for conversions into Series Q Shares.

Were enough Series P Shares tendered for conversion into Series Q Shares?

No, less than the required 1,000,000 Series P Shares were tendered for conversion.