| CONDENSED CONSOLIDATING FINACIAL INFORMATION | CONDENSED CONSOLIDATING FINANCIAL INFORMATION On January 22, 2019, Enbridge entered into supplemental indentures with its wholly-owned subsidiaries, SEP and EEP (the Partnerships), pursuant to which Enbridge fully and unconditionally guaranteed, on a senior unsecured basis, the payment obligations of the Partnerships with respect to the outstanding series of notes issued under the respective indentures of the Partnerships. Concurrently, the Partnerships entered into a subsidiary guarantee agreement pursuant to which they guaranteed, on a senior unsecured basis, the outstanding series of senior notes of Enbridge. As a result of the guarantees, holders of any of the outstanding guaranteed notes of the Partnerships are in the same position with respect to the net assets, income and cash flows of Enbridge as holders of Enbridge’s outstanding guaranteed notes and vice versa. Other than the Partnerships, Enbridge subsidiaries (including the subsidiaries of the Partnerships, collectively, the Subsidiary Non-Guarantors), are not parties to the subsidiary guarantee agreement and have not otherwise guaranteed any of Enbridge’s outstanding series of senior notes. Prior to entering into these guarantees, Enbridge received the requisite consents from the holders of the Partnerships’ outstanding senior notes such that once such guarantees were put in place, in lieu of the respective reporting obligations of Partnerships, Enbridge would be subject to reporting obligations similar to those in the indenture governing Enbridge's United States dollar denominated senior notes. The series of notes for which guarantees were entered into are described in the tables below: Consenting SEP notes and EEP notes under Guarantee SEP Notes 1 EEP Notes 2 Floating Rate Senior Notes due 2020 9.875% Notes due 2019 4.600% Senior Notes due 2021 5.200% Notes due 2020 4.750% Senior Notes due 2024 4.375% Notes due 2020 3.500% Senior Notes due 2025 4.200% Notes due 2021 3.375% Senior Notes due 2026 5.875% Notes due 2025 5.950% Senior Notes due 2043 5.950% Notes due 2033 4.500% Senior Notes due 2045 6.300% Notes due 2034 7.500% Notes due 2038 5.500% Notes due 2040 7.375% Notes due 2045 1 As at the effective date of the guarantees, the aggregate outstanding principal amount of SEP notes was approximately US$3.9 billion . 2 As at the effective date of the guarantees, the aggregate outstanding principal amount of EEP notes was approximately US$4.5 billion . Enbridge Notes under Guarantees USD Denominated 1 CAD Denominated 2 Senior Floating Rate Notes due 2020 4.100% Senior Notes due 2019 Senior Floating Rate Notes due 2020 Senior Floating Rate Notes due 2019 2.900% Senior Notes due 2022 4.770% Senior Notes due 2019 4.000% Senior Notes due 2023 4.530% Senior Notes due 2020 3.500% Senior Notes due 2024 4.850% Senior Notes due 2020 4.250% Senior Notes due 2026 4.260% Senior Notes due 2021 3.700% Senior Notes due 2027 3.160% Senior Notes due 2021 4.500% Senior Notes due 2044 4.850% Senior Notes due 2022 5.500% Senior Notes due 2046 3.190% Senior Notes due 2022 3.940% Senior Notes due 2023 3.940% Senior Notes due 2023 3.950% Senior Notes due 2024 3.200% Senior Notes due 2027 6.100% Senior Notes due 2028 7.220% Senior Notes due 2030 7.200% Senior Notes due 2032 5.570% Senior Notes due 2035 5.750% Senior Notes due 2039 5.120% Senior Notes due 2040 4.240% Senior Notes due 2042 4.570% Senior Notes due 2044 4.870% Senior Notes due 2044 4.560% Senior Notes due 2064 1 As at the effective date of the guarantees, the aggregate outstanding principal amount of the Enbridge United States dollar denominated notes was approximately US$5.9 billion . 2 As at the effective date of the guarantees, the aggregate outstanding principal amount of the Enbridge Canadian dollar denominated notes was approximately $8.1 billion . In accordance with Rule 3-10 of the SEC's Regulation S-X, which provides an exemption from the reporting requirements of the Securities Exchange Act of 1934 for subsidiary issuers of guaranteed securities and subsidiary guarantors, in lieu of filing separate financial statements for each of the Partnerships, we have included the accompanying condensed consolidating financial information with separate columns representing the following: 1. Enbridge Inc., the Parent Issuer and Guarantor; 2. SEP, a Subsidiary Issuer and Guarantor; 3. EEP, a Subsidiary Issuer and Guarantor; 4. Subsidiary Non-Guarantors, as defined herein; 5. Consolidating and elimination entries required to consolidate the Parent Issuer and Guarantor and its subsidiaries, including the Subsidiary Issuers and Guarantors, and 6. Enbridge Inc. and subsidiaries on a consolidated basis. For the purposes of the condensed consolidating financial information only, investments in subsidiaries are accounted for under the equity method. In addition, the Condensed Consolidating Statements of Cash Flows present the intercompany loan and distribution activity, as well as cash collection and payments made on behalf of our subsidiaries, as cash activities. These intercompany investments and related activities eliminate on consolidation and are presented separately only for the purpose of the accompanying Condensed Consolidating Statements. As the Spectra Merger did not occur until February 27, 2017, SEP-related information is only included in the accompanying Condensed Consolidating Statements subsequent to the date of the Spectra Merger. Condensed Consolidating Statements of Earnings and Comprehensive Income for the year ended December 31, 2018 Parent Issuer and Guarantor Subsidiary Issuer and Guarantor - SEP Subsidiary Issuer and Guarantor - EEP Subsidiary Non-Guarantors Consolidating and elimination adjustments Consolidated - Enbridge (millions of Canadian dollars) Operating revenues Commodity sales — — — 27,660 — 27,660 Gas distribution sales — — — 4,360 — 4,360 Transportation and other services — — — 14,358 — 14,358 Total operating revenues — — — 46,378 — 46,378 Operating Expenses Commodity costs — — — 26,818 — 26,818 Gas distribution costs — — — 2,583 — 2,583 Operating and administrative 180 14 54 6,622 (78 ) 6,792 Depreciation and amortization 59 — — 3,187 — 3,246 Impairment of long-lived assets — — — 1,104 — 1,104 Impairment of goodwill — — — 1,019 — 1,019 Total operating expenses 239 14 54 41,333 (78 ) 41,562 Operating income/(loss) (239 ) (14 ) (54 ) 5,045 78 4,816 Income from equity investments 302 142 — 1,360 (295 ) 1,509 Equity earnings/(loss) from consolidated subsidiaries 3,119 (1,634 ) 921 (1,581 ) (825 ) — Other Net foreign currency gain/(loss) (829 ) 8 — 80 219 (522 ) Gain/(loss) on dispositions 360 — — (406 ) — (46 ) Other, including other income/(expense) from affiliates 945 72 153 254 (908 ) 516 Interest expense (1,080 ) (302 ) (557 ) (1,689 ) 925 (2,703 ) Earnings/(loss) before income taxes 2,578 (1,728 ) 463 3,063 (806 ) 3,570 Income tax recovery/(expense) 304 (319 ) 3 (4,373 ) 4,148 (237 ) Earnings/(loss) 2,882 (2,047 ) 466 (1,310 ) 3,342 3,333 Earnings attributable to noncontrolling interests and redeemable noncontrolling interests — — — — (451 ) (451 ) Earnings/(loss) attributable to controlling interests 2,882 (2,047 ) 466 (1,310 ) 2,891 2,882 Preference share dividends (367 ) — — — — (367 ) Earnings/(loss) attributable to common shareholders 2,515 (2,047 ) 466 (1,310 ) 2,891 2,515 Earnings/(loss) 2,882 (2,047 ) 466 (1,310 ) 3,342 3,333 Total other comprehensive income/(loss) 3,788 (9 ) 28 556 (225 ) 4,138 Comprehensive income/(loss) 6,670 (2,056 ) 494 (754 ) 3,117 7,471 Comprehensive income attributable to noncontrolling interests — — — — (801 ) (801 ) Comprehensive income/(loss) attributable to controlling interests 6,670 (2,056 ) 494 (754 ) 2,316 6,670 Condensed Consolidating Statements of Earnings and Comprehensive Income for the year ended December 31, 2017 Parent Issuer and Guarantor Subsidiary Issuer and Guarantor - SEP Subsidiary Issuer and Guarantor - EEP Subsidiary Non-Guarantors Consolidating and elimination adjustments Consolidated - Enbridge (millions of Canadian dollars) Operating revenues Commodity sales — — — 26,286 — 26,286 Gas distribution sales — — — 4,215 — 4,215 Transportation and other services — — — 13,877 — 13,877 Total operating revenues — — — 44,378 — 44,378 Operating expenses Commodity costs — — — 26,065 — 26,065 Gas distribution costs — — — 2,572 — 2,572 Operating and administrative 169 146 16 6,111 — 6,442 Depreciation and amortization 56 — — 3,107 — 3,163 Impairment of long lived assets — — — 4,463 — 4,463 Impairment of goodwill — — — 102 — 102 Total operating expenses 225 146 16 42,420 — 42,807 Operating income/(loss) (225 ) (146 ) (16 ) 1,958 — 1,571 Income from equity investments 471 118 — 981 (468 ) 1,102 Equity earnings from consolidated subsidiaries 2,130 752 926 881 (4,689 ) — Other Net foreign currency gain/(loss) 500 — — (22 ) (241 ) 237 Gain/(loss) on dispositions (11 ) — — 27 — 16 Other, including other income/(expense) from affiliates 871 11 139 74 (896 ) 199 Interest expense (816 ) (221 ) (691 ) (1,753 ) 925 (2,556 ) Earnings before income taxes 2,920 514 358 2,146 (5,369 ) 569 Income tax (expense)/recovery (61 ) — 9 2,706 43 2,697 Earnings 2,859 514 367 4,852 (5,326 ) 3,266 Earnings attributable to noncontrolling interests and redeemable noncontrolling interests — — — — (407 ) (407 ) Earnings attributable to controlling interests 2,859 514 367 4,852 (5,733 ) 2,859 Preference share dividends (330 ) — — — — (330 ) Earnings attributable to common shareholders 2,529 514 367 4,852 (5,733 ) 2,529 Earnings 2,859 514 367 4,852 (5,326 ) 3,266 Total other comprehensive income/(loss) (2,031 ) 12 204 (412 ) (51 ) (2,278 ) Comprehensive income 828 526 571 4,440 (5,377 ) 988 Comprehensive income attributable to noncontrolling interests — — — — (160 ) (160 ) Comprehensive income attributable to controlling interests 828 526 571 4,440 (5,537 ) 828 Condensed Consolidating Statements of Earnings and Comprehensive Income for the year ended December 31, 2016 Parent Issuer and Guarantor Subsidiary Issuer and Guarantor - EEP Subsidiary Non-Guarantors Consolidating and elimination adjustments Consolidated - Enbridge (millions of Canadian dollars) Operating revenues Commodity sales — — 22,816 — 22,816 Gas distribution sales — — 2,486 — 2,486 Transportation and other services — — 9,258 — 9,258 Total operating revenues — — 34,560 — 34,560 Operating expenses Commodity costs — — 22,409 — 22,409 Gas distribution costs — — 1,596 — 1,596 Operating and administrative 126 70 4,162 — 4,358 Depreciation and amortization 50 — 2,190 — 2,240 Impairment of long lived assets — — 1,376 — 1,376 Total operating expenses 176 70 31,733 — 31,979 Operating income/(loss) (176 ) (70 ) 2,827 — 2,581 Income from equity investments 723 — 423 (718 ) 428 Equity earnings/(loss) from consolidated subsidiaries 1,055 442 (81 ) (1,416 ) — Other Net foreign currency gain/(loss) 187 — (3 ) (93 ) 91 Gain on dispositions — — 848 — 848 Other, including other income/(expense) from affiliates 791 107 90 (895 ) 93 Interest expense (606 ) (560 ) (1,344 ) 920 (1,590 ) Earnings/(loss) before income taxes 1,974 (81 ) 2,760 (2,202 ) 2,451 Income tax recovery/(expense) 95 — (237 ) — (142 ) Earnings/(loss) 2,069 (81 ) 2,523 (2,202 ) 2,309 Earnings attributable to noncontrolling interests and redeemable noncontrolling interests — — — (240 ) (240 ) Earnings/(loss) attributable to controlling interests 2,069 (81 ) 2,523 (2,442 ) 2,069 Preference share dividends (293 ) — — — (293 ) Earnings/(loss) attributable to common shareholders 1,776 (81 ) 2,523 (2,442 ) 1,776 Earnings/(loss) 2,069 (81 ) 2,523 (2,202 ) 2,309 Total other comprehensive income/(loss) (574 ) 54 186 (251 ) (585 ) Comprehensive income/(loss) 1,495 (27 ) 2,709 (2,453 ) 1,724 Comprehensive income attributable to noncontrolling interests — — — (229 ) (229 ) Comprehensive income/(loss) attributable to controlling interests 1,495 (27 ) 2,709 (2,682 ) 1,495 Condensed Consolidating Statements of Financial Position as at December 31, 2018 Parent Issuer and Guarantor Subsidiary Issuer and Guarantor - SEP Subsidiary Issuer and Guarantor - EEP Subsidiary Non-Guarantors Consolidating and elimination adjustments Consolidated - Enbridge (millions of Canadian dollars) Assets Current assets Cash and cash equivalents — 16 — 502 — 518 Restricted cash 9 — — 110 — 119 Accounts receivable and other 283 15 8 6,211 — 6,517 Accounts receivable from affiliates 726 — 13 (142 ) (518 ) 79 Short-term loans receivable from affiliates 3,943 — 3,689 653 (8,285 ) — Inventory — — — 1,339 — 1,339 4,961 31 3,710 8,673 (8,803 ) 8,572 Property, plant and equipment, net 140 — — 94,400 — 94,540 Long-term loans receivable from affiliates 10,318 73 2,539 1,344 (14,274 ) — Investments in subsidiaries 78,474 19,777 6,363 15,567 (120,181 ) — Long-term investments 4,561 987 — 14,841 (3,682 ) 16,707 Restricted long-term investments — — — 323 — 323 Deferred amounts and other assets 1,700 9 17 8,558 (1,726 ) 8,558 Intangible assets, net 234 — — 2,138 — 2,372 Goodwill — — — 34,459 — 34,459 Deferred income taxes 817 — — 229 328 1,374 Total assets 101,205 20,877 12,629 180,532 (148,338 ) 166,905 Liabilities and equity Current liabilities Short-term borrowings — — — 1,024 — 1,024 Accounts payable and other 2,742 7 34 7,059 (6 ) 9,836 Accounts payable to affiliates 946 233 56 (677 ) (518 ) 40 Interest payable 283 56 105 225 — 669 Short-term loans payable to affiliates 426 682 — 7,177 (8,285 ) — Environmental liabilities, current — — — 27 — 27 Current portion of long-term debt 1,853 — 683 723 — 3,259 6,250 978 878 15,558 (8,809 ) 14,855 Long-term debt 22,893 7,276 6,943 23,215 — 60,327 Other long-term liabilities 2,428 2 30 8,100 (1,726 ) 8,834 Long-term loans payable to affiliates 76 — 1,502 12,696 (14,274 ) — Deferred income taxes — 331 — 13,523 (4,400 ) 9,454 31,647 8,587 9,353 73,092 (29,209 ) 93,470 Equity Controlling interests 1 69,558 12,290 3,276 107,440 (123,094 ) 69,470 Noncontrolling interests — — — — 3,965 3,965 69,558 12,290 3,276 107,440 (119,129 ) 73,435 Total liabilities and equity 101,205 20,877 12,629 180,532 (148,338 ) 166,905 1 Equity attributable to controlling interests for parent issuer and guarantor excludes reciprocal shareholding balance included within consolidating and elimination adjustments. Condensed Consolidating Statements of Financial Position as at December 31, 2017 Parent Issuer and Guarantor Subsidiary Issuer and Guarantor - SEP Subsidiary Issuer and Guarantor - EEP Subsidiary Non-Guarantors Consolidating and elimination adjustments Consolidated - Enbridge (millions of Canadian dollars) Assets Current assets Cash and cash equivalents — 14 — 466 — 480 Restricted cash 2 — — 105 — 107 Accounts receivable and other 292 8 — 6,753 — 7,053 Accounts receivable from affiliates 593 — 41 (73 ) (514 ) 47 Short-term loans receivable from affiliates 1,861 — 3,085 2,977 (7,923 ) — Inventory — — — 1,528 — 1,528 2,748 22 3,126 11,756 (8,437 ) 9,215 Property, plant and equipment, net 136 — — 90,575 — 90,711 Long-term loans receivable from affiliates 14,205 574 2,352 (3,177 ) (13,954 ) — Investments in subsidiaries 55,466 21,528 5,993 16,672 (99,659 ) — Long-term investments 8,408 918 — 14,972 (7,654 ) 16,644 Restricted long-term investments — — — 267 — 267 Deferred amounts and other assets 904 8 5 7,250 (1,725 ) 6,442 Intangible assets, net 219 — — 3,048 — 3,267 Goodwill — — — 34,457 — 34,457 Deferred income taxes 809 — — 254 27 1,090 Total assets 82,895 23,050 11,476 176,074 (131,402 ) 162,093 Liabilities and equity Current liabilities Short-term borrowings — — — 1,444 — 1,444 Accounts payable and other 1,927 100 19 7,432 — 9,478 Accounts payable to affiliates 56 171 — 444 (514 ) 157 Interest payable 216 51 102 265 — 634 Short-term loans payable to affiliates 868 — — 7,055 (7,923 ) — Environmental liabilities, current — — — 40 — 40 Current portion of long-term debt — 626 501 1,744 — 2,871 3,067 948 622 18,424 (8,437 ) 14,624 Long-term debt 20,173 7,605 7,852 25,235 — 60,865 Other long-term liabilities 1,342 38 21 7,834 (1,725 ) 7,510 Long-term loans payable to affiliates 76 4 764 13,110 (13,954 ) — Deferred income taxes — — — 9,295 — 9,295 24,658 8,595 9,259 73,898 (24,116 ) 92,294 Redeemable noncontrolling interests — — — — 4,067 4,067 Equity Controlling interests 1 58,237 14,455 2,217 102,176 (118,950 ) 58,135 Noncontrolling Interests — — — — 7,597 7,597 58,237 14,455 2,217 102,176 (111,353 ) 65,732 Total liabilities and equity 82,895 23,050 11,476 176,074 (131,402 ) 162,093 1 Equity attributable to controlling interests for parent issuer and guarantor excludes reciprocal shareholding balance included within consolidating and elimination adjustments. Condensed Consolidating Statements of Cash Flows for the year ended December 31, 2018 Parent Issuer and Guarantor Subsidiary Issuer and Guarantor - SEP Subsidiary Issuer and Guarantor - EEP Subsidiary Non-Guarantors Consolidating and elimination adjustments Consolidated - Enbridge (millions of Canadian dollars) Net cash provided by/(used in) operating activities 154 1,751 (1,328 ) 12,772 (2,847 ) 10,502 Investing activities Capital expenditures (28 ) — — (6,778 ) — (6,806 ) Long-term investments (81 ) (12 ) — (1,297 ) 78 (1,312 ) Distributions from equity investments in excess of cumulative earnings 1,829 45 2,071 1,232 (3,900 ) 1,277 Additions to intangible assets (43 ) — — (497 ) — (540 ) Proceeds from dispositions 1,790 — — 2,662 — 4,452 Contributions to subsidiaries (8,131 ) (79 ) (13 ) (1,655 ) 9,878 — Return of share capital from subsidiaries 3,753 — — — (3,753 ) — Advances to affiliates (6,863 ) — (1,703 ) (4,859 ) 13,425 — Repayment of advances to affiliates 9,427 518 1,504 3,298 (14,747 ) — Other — — — (88 ) — (88 ) Net cash provided by/(used in) investing activities 1,653 472 1,859 (7,982 ) 981 (3,017 ) Financing activities Net change in short-term borrowings — — — (420 ) — (420 ) Net change in commercial paper and credit facility draws (734 ) (962 ) (1,009 ) 449 — (2,256 ) Debenture and term note issues, net of issue costs 2,554 — — 983 — 3,537 Debenture and term note repayments — (648 ) (509 ) (3,288 ) — (4,445 ) Sale of noncontrolling interests in subsidiaries — — — — 1,289 1,289 Contributions from noncontrolling interests — — — — 24 24 Distributions to noncontrolling interests — — — — (857 ) (857 ) Contributions from redeemable noncontrolling interests — — — — 70 70 Distributions to redeemable noncontrolling interests — — — — (325 ) (325 ) Contributions from parents — — 1,007 8,223 (9,230 ) — Distributions to parents — (1,902 ) (666 ) (7,653 ) 10,221 — Sponsored Vehicle buy-in cash payment (64 ) — — — — (64 ) Redemption of preferred shares — — — (210 ) — (210 ) Common shares issued 21 648 — — (648 ) 21 Preference share dividends (364 ) — — — — (364 ) Common share dividends (3,480 ) — — — — (3,480 ) Advances from affiliates 710 648 3,501 8,566 (13,425 ) — Repayment of advances from affiliates (443 ) — (2,855 ) (11,449 ) 14,747 — Other — (5 ) — (18 ) — (23 ) Net cash (used in)/provided by financing activities (1,800 ) (2,221 ) (531 ) (4,817 ) 1,866 (7,503 ) Effect of translation of foreign denominated cash and cash equivalents and restricted cash — — — 68 — 68 Net increase in cash and cash equivalents and restricted cash 7 2 — 41 — 50 Cash and cash equivalents and restricted cash at beginning of year 2 14 — 571 — 587 Cash and cash equivalents and restricted cash at end of year 9 16 — 612 — 637 Condensed Consolidating Statements of Cash Flows for the year ended December 31, 2017 Parent Issuer and Guarantor Subsidiary Issuer and Guarantor - SEP Subsidiary Issuer and Guarantor - EEP Subsidiary Non-Guarantors Consolidating and elimination adjustments Consolidated - Enbridge (millions of Canadian dollars) Net cash (used in)/provided by operating activities (1,023 ) (255 ) (1,681 ) 11,411 (1,794 ) 6,658 Investing activities Capital expenditures (21 ) — — (8,266 ) — (8,287 ) Long-term investments (202 ) (51 ) — (3,535 ) 202 (3,586 ) Distributions from equity investments in excess of cumulative earnings 1,448 22 1,907 103 (3,355 ) 125 Additions to intangible assets (47 ) — — (742 ) — (789 ) Cash acquired in Merger Transaction — — — 682 — 682 Proceeds from dispositions — — 1,742 1,103 (2,217 ) 628 Reimbursement of capital expenditures — — — 212 — 212 Contributions to subsidiaries (4,866 ) — (2,056 ) — 6,922 — Return of share capital from subsidiaries 2,423 — 1,532 — (3,955 ) — Advances to affiliates (7,145 ) (519 ) (1,410 ) (3,020 ) 12,094 — Repayment of advances to affiliates 4,506 — 2,129 2,887 (9,522 ) — Other — — — (22 ) — (22 ) Net cash (used in)/provided by investing activities (3,904 ) (548 ) 3,844 (10,598 ) 169 (11,037 ) Financing activities Net change in short-term borrowings — — — 721 — 721 Net change in commercial paper and credit facility draws (1,845 ) 2,226 (316 ) (1,314 ) — (1,249 ) Debenture and term note issues, net of issue costs 8,177 868 — 438 — 9,483 Debenture and term note repayments (1,711 ) (533 ) — (2,810 ) — (5,054 ) Purchase of interest in consolidated subsidiary — — (475 ) (1,969 ) 2,217 (227 ) Contributions from noncontrolling interests — — — — 832 832 Distributions to noncontrolling interests — — — — (919 ) (919 ) Contributions from redeemable noncontrolling interests 563 — — — 615 1,178 Distributions to redeemable noncontrolling interests — — — — (247 ) (247 ) Contributions from parents — — — 6,922 (6,922 ) — Distributions to parents — (1,987 ) (789 ) (7,310 ) 10,086 — Preference shares issued 489 — — — — 489 Redemption of preferred shares — — (1,613 ) 1,613 — — Common shares issued 1,549 227 1,646 — (1,873 ) 1,549 Preference share dividends (330 ) — (478 ) — 478 (330 ) Common share dividends 1 (2,336 ) — — (414 ) — (2,750 ) Advances from affiliates 407 — 2,613 9,074 (12,094 ) — Repayment of advances from affiliates (40 ) — (2,847 ) (6,635 ) 9,522 — Net cash provided by/(used in) financing activities 4,923 801 (2,259 ) (1,684 ) 1,695 3,476 Effect of translation of foreign denominated cash and cash equivalents and restricted cash — — (2 ) — (70 ) (72 ) Net decrease in cash and cash equivalents and restricted cash (4 ) (2 ) (98 ) (871 ) — (975 ) Cash and cash equivalents and restricted cash at beginning of year 6 16 98 1,442 — 1,562 Cash and cash equivalents and restricted cash at end of year 2 14 — 571 — 587 1 Common share dividends for the year ended December 31, 2017 includes amounts distributed by Spectra Energy Corp. related to dividends accrued prior to the Merger Transaction. Condensed Consolidating Statements of Cash Flows for the year ended December 31, 2016 Parent Issuer and Guarantor Subsidiary Issuer and Guarantor - EEP Subsidiary Non-Guarantors Consolidating and elimination adjustments Consolidated - Enbridge (millions of Canadian dollars) Net cash provided by/(used in) operating activities (65 ) (1,818 ) 8,579 (1,491 ) 5,205 Investing activities Capital expenditures (21 ) — (5,107 ) — (5,128 ) Long-term investments (194 ) — (514 ) 194 (514 ) Distributions from equity investments in excess of cumulative earnings 1,233 2,717 — (3,950 ) — Additions to intangible assets (37 ) — (90 ) — (127 ) Acquisitions — — (644 ) — (644 ) Proceeds from dispositions — — 1,379 — 1,379 Contributions to subsidiaries (970 ) (463 ) — 1,433 — Return of share capital from subsidiaries 350 — — (350 ) — Advances to affiliates (4,307 ) (1,623 ) (1,518 ) 7,448 — Repayment of advances to affiliates 1,577 1,382 400 (3,359 ) — Other — 17 (135 ) — (118 ) Net cash (used in)/provided by investing activities (2,369 ) 2,030 (6,229 ) 1,416 (5,152 ) Financing activities Net change in short-term borrowings — — (248 ) — (248 ) Net change in commercial paper and credit facility draws (1,083 ) 289 (1,503 ) — (2,297 ) Debenture and term note issues, net of issue costs 3,009 — 1,071 — 4,080 Debenture and term note repayments (1,160 ) (400 ) (386 ) — (1,946 ) Contributions from noncontrolling interests — — — 28 28 Distributions to noncontrolling interests — — — (720 ) (720 ) Contributions from redeemable noncontrolling interests — — — 591 591 Distributions to redeemable noncontrolling interests — — — (202 ) (202 ) Contributions from parents — — 1,433 (1,433 ) — Distributions to parents — (1,060 ) (4,840 ) 5,900 — Preference shares issued 737 — — — 737 Common shares issued 2,260 — — — 2,260 Preference share dividends (293 ) — — — (293 ) Common share dividends (1,150 ) — — — (1,150 ) Advances from affiliates 518 1,000 5,930 (7,448 ) — Repayment of advances from affiliates (400 ) — (2,959 ) 3,359 — Net cash provided by/(used in) financing activities 2,438 (171 ) (1,502 ) 75 840 Effect of translation of foreign denominated cash and cash equivalents and restricted cash — 1 (20 ) — (19 ) Net increase in cash and cash equivalents and restricted cash 4 42 828 — 874 Cash and cash equivalents and restricted cash at beginning of year 2 56 630 — 688 Cash and cash equivalents and restricted cash at end of year 6 98 1,458 — 1,562 |
