Vern Yu Senior Vice President, Business & Market Development Liquids Pipelines

Providing Market Access for Discounted

Canadian and Bakken Crude Oil

RBC Capital Markets – Crude and Refined Investor Day

Toronto April 4, 2013

This presentation includes certain forward looking information (FLI) to provide Enbridge shareholders and potential

investors with information about Enbridge and management's assessment of its future plans and operations, which

may not be appropriate for other purposes. FLI is typically identified by words such as "anticipate", "expect",

"project", "estimate", "forecast", "plan", "intend", "target", "believe" and similar words suggesting future outcomes or

statements regarding an outlook. Although we believe that our FLI is reasonable based on the information available

today and processes used to prepare it, such statements are not guarantees of future performance and you are

cautioned against placing undue reliance on FLI. FLI inherently involves a variety of assumptions, risks,

uncertainties and other factors which may cause actual results, levels of activity and achievements to differ

materially from those expressed or implied in our FLI. Material assumptions include: expected supply and demand

for crude oil, natural gas and natural gas liquids; prices of crude oil, natural gas and natural gas liquids; expected

exchange rates; inflation; interest rates; availability and price of labour and pipeline construction materials;

operational reliability; customer project approvals; maintenance of support and regulatory approvals for Enbridge’s

projects; anticipated in-service dates and weather.

Our FLI is subject to risks and uncertainties pertaining to operating performance, regulatory parameters, project

approval and support, construction schedules, weather, economic and competitive conditions, exchange rates,

interest rates, commodity prices and supply and demand for commodities, including but not limited to those

discussed more extensively in our filings with Canadian and US securities regulators. The impact of any one risk,

uncertainty or factor on any particular FLI is not determinable with certainty as these are interdependent and our

future course of action depends on management's assessment of all information available at the relevant time.

Except to the extent required by law, we assume no obligation to publicly update or revise any FLI, whether as a

result of new information, future events or otherwise. All FLI in this presentation is expressly qualified in its entirety

by these cautionary statements.

This presentation may make reference to certain financial measures, such as adjusted net income, which are not

recognized under GAAP. Reconciliations to the most closely related GAAP measures are included in the MD&A

filings and/or Supplementary Financial Information available on our website or in the slides that accompany this

presentation, if applicable.

Forward Looking Statement

2

Strategic Asset Position

Toronto

Quebec City

Gas Distribution

Norman

Wells

Zama

Fort McMurray

Portland

Casper

Montreal

Salt Lake City

Patoka

Cushing

Houston

Superior

Clearbrook

Edmonton Hardisty

Toronto

Chicago

Liquids Pipelines

Edmonton

Fort St. John

Houston

Chicago

Sarnia

Gas Pipelines

Toronto

Edmonton

Renewable Energy

2012

Adjusted

Earnings

2012

Adjusted

Earnings

2012

Adjusted

Earnings

2012

Adjusted

Earnings

65%

15%

Wind Power Generation

Waste Heat Recovery

Solar Power Generation

Geothermal Power Generation

Power Transmission

16%

15% 4%

65%

3

Current Environment – Crude Oil Pricing

4 NOTE:

*Brent price is a landed price on US East Coast/ US Gulf Coast. Assumed tanker freight cost of US$2.00 per bbl.

Asia

$103

WCS

Bakken Light

Brent

Maya

$107 $66

$114 LLS

WTI

$92

Light Crude

Heavy Crude

$94

$116 *

Average YTD Pricing - As at March 20, 2013 (US$ per barrel)

North American Supply

North American Demand

Public Opposition to Infrastructure

Transportation Bottlenecks

Significant Price Differentials

Market Access Initiatives – Heavy Crude Oil

Montreal

Gretna

Regina

Hardisty

Kerrobert

Toledo

Buffalo

Edmonton

Houston

Fort

McMurray

Cromer

Cushing

Patoka

Chicago/

Flanagan

Port Arthur

5

Eastern Access (Phase 1)

• Line 62 Expansion (2013)

• Line 17 Twin (2013)

Sarnia

Western Gulf Coast Access

• Flanagan South Pipeline (2014)

• Seaway Pipeline Twin & Lateral (2014)

West Coast Access

• Northern Gateway Pipeline (2018)

Asia

+525

kbpd

West USGC

+585

kbpd

Detroit

+50

kbpd Chicago

+250

kbpd

Market Access Initiatives – Light Crude Oil

Montreal

Gretna

Regina

Hardisty

Kerrobert

Toledo

Buffalo

Edmonton

Houston

Fort

McMurray

Cromer

Cushing

Patoka

6

Sarnia

Port Arthur

Chicago/

Flanagan

Eastern Access (Phase 2)

• Line 5 Expansion (2013)

• Line 9 Reversal (2013-2014)

Light Oil Market Access

• Southern Access Extension (2015)

• Superior to Flanagan (2015-2016)

• Sandpiper Pipeline (2016)

Rail Loading & Unloading

• Berthold Rail Loading Facility (2013)

• Eddystone Rail Unloading Facility (2013)

Ontario/

Quebec

+320

kbpd

PADD II

+300

kbpd

Philadelphia

+160

kbpd

Market Access Initiatives – Eastern Gulf Coast

7

Superior

Reversed Trunkline (50%)

Memphis

Patoka

Flanagan

St. James

Southern Access Extension (100%)

New Trunkline Lateral (50%)

Memphis, Alabama/Mississippi, Mississippi River Refinery Capacity

~3,200 kbpd

Reversal & Conversion to Crude Service:

• 30” pipeline

• Patoka, Illinois to St. James, Louisiana

• Up to 420-660kbpd capacity depending on crude slate

• Anticipated in-service date of 2015

Light

Heavy

Market Access Initiatives – Mainline Expansions

Montreal

Gretna

Regina

Hardisty

Kerrobert

Toledo

Buffalo

Edmonton

Houston

Fort

McMurray

Cromer

Cushing

Patoka

8

Sarnia

Port Arthur

Mainline Expansions

• Edmonton to Hardisty (2015)

• Alberta Clipper (2014-2015)

• Southern Access Expansion (2014-2016)

• Line 6B Replacement (2013)

Chicago/

Flanagan

Market Access Initiatives – Summary

Montreal Gretna

Regina

Hardisty

Kerrobert

Toledo

Buffalo

Edmonton

Houston

Fort

McMurray

Cromer

Cushing

Patoka

9

Sarnia

Port Arthur

Chicago/

Flanagan

Heavy Crude

• West Coast Access (2018)

• Eastern Access - Phase 1 (2013)

• Western Gulf Coast Access (2014)

• Eastern Gulf Coast Access (2015)

Asia

+525

kbpd

Potential New Market Access for Over 2 Million Barrels Per Day

Light Crude

• Berthold Rail Loading Facility (2013)

• Eddystone Rail Unloading Facility (2013)

• Eastern Access - Phase 2 (2013-2014)

• Light Oil Market Access (2015-2016)

• Eastern Gulf Coast Assess (2015)

West USGC

+585

kbpd

PADD II

+300

kbpd

Ontario/

Quebec

+320

kbpd

Detroit

+50

kbpd

East USGC

+440

kbpd

Philadelphia

+160

kbpd

10

1

1 Risked unsecured included in the funding plan assuming zero contribution to 2016 earnings

2012 – 2016 Enterprise Wide Growth Capital

Risked Unsecured1

Highly Probable Unsecured

Commercially Secured

$35 B

As at February 2013

$3 Billion

$5 Billion Eastern USGC Access

$27 Billion

$0.00

$3.00

2011 2016

• Tilted Return

Projects

• 2016 Risked

Unsecured

• New Growth

Platforms

• Sponsored Vehicle

Drop Downs

* Adjusted earnings EPS is non-GAAP measures. For more information on non-GAAP

measures please refer to disclosure in news release.

Adjusted EPS* Growth

Significant Capital Program =

Industry Leading Long-Term Growth Rate