Enbridge Inc. · TSX:ENB
Enbridge — Enbridge Energy Management L L C — Merger or Acquisition (May 2018)
8 slides from Enbridge's merger presentation, May 18, 2018
Slide 1: Simplification of Corporate Structure
Simplification of Corporate Structure May 17, 2018 Al Monaco, Chief Executive Officer
Slide 2: Legal Notice – Forward Looking Information
Legal Notice Forward Looking Information This presentation includes certain forward looking statements and information (FLI) to provide potential investors, shareholders and unitholders of Enbridge Inc. (Enbridge or the Company), Enbridge Income Fund Holdings Inc. (ENF), Enbridge Energy Partners, L.
Slide 3: Key Terms of the Proposed Restructuring
Key Terms of the Proposed Restructuring 3 Restructuring Consideration .. SEP: 1.0123 common shares of ENB, representing a value of US$33.10, equivalent to the closing price of SEPfs common units on the NYSE on May 16, 2018 . EEP: 0.3083 shares of ENB, representing a value of US$10.08, equivalent to
Slide 4: Simplifies Corporate and Capital Structure
Simplifies Corporate and Capital Structure 4 Post-Restructuring Pre-Restructuring TSX: ENB NYSE: ENB • Liquids Pipelines • Gas Pipelines •Utilities •Other (1) Transaction values as of May 16, 2018, includes a 5% premium for ENF. This is a simplified organizational structure reflecting the publicly t
Slide 5: Benefits for Enbridge Shareholders
Benefits for Enbridge Shareholders „Ï Simplifies Corporate and Capital Structure ¡E Single streamlined publicly traded entity „Ï Full Ownership of Core Strategic Assets ¡E Best-in-class, low risk liquids pipelines and gas transmission business „Ï Maximizes Cash Flow ¡E Transfer interstate pipelines
Slide 6: Benefits for Sponsored Vehicle Equity Holders of Holding ENB Shares
Benefits for Sponsored Vehicle Equity Holders of Holding ENB Shares ¡E Sponsored vehicles are ineffective and unreliable standalone financing vehicles 6 Enbridge Energy Partners / Enbridge Energy Management Spectra Energy Partners Enbridge Income Fund Holdings „Ï „Ï „Ï „Ï „Ï „Ï „Ï Enhances liquidity
Slide 7: 2018 – 2020 Strategic Priorities
2018 – 2020 Strategic Priorities 1. Move to pure regulated pipelines / utility model $3.2 billion of asset sales announced 2. Accelerate de-leveraging $3.1 billion of hybrid security issuances 3. Deliver premium cash flow & dividend growth Advancing $7B of projects for 2018 ISD 4. Streamline the bus
Slide 8: Q&A
Q&A ENBRIDGE
Enbridge Energy Management L L C — Merger or Acquisition (May 2018) on 6ix