ENBRIDGE INC. CONSOLIDATED STATEMENTS OF CASH FLOWS Six months ended June 30, 2024 2023 (unaudited; millions of Canadian dollars) Operating activities Earnings 3,566 3,867 Adjustments to reconcile earnings to net cash provided by operating activities: Depreciation and amortization 2,466 2,283 Deferred income tax expense 613 919 Unrealized derivative fair value loss/(gain), net (Note 10) 923 (1,135) Income from equity investments (1,185) (995) Distributions from equity investments 1,037 1,066 Gain on disposition of equity investments Other Changes in operating assets and liabilities (1,091) 143 72 (507) 1,228 Net cash provided by operating activities 5,965 7,305 Investing activities Capital expenditures (2,533) (2,093) Long-term, restricted and other investments (1,294) (472) Distributions from equity investments in excess of cumulative eamings 463 752 Additions to intangible assets (93) (104) Acquisitions (10,454) (487) Proceeds from disposition of equity investments 2,724 Net change in affiliate loans 71 Other (43) Net cash used in investing activities (11,230) (2.333) Financing activities Net change in short-term borrowings (200) (1,148) Net change in commercial paper and credit facility draws 2,963 (2.847) Debenture and term note issues, net of issue costs 6,348 5,598 Debenture and term note repayments (4,561) (2,281) Contributions from noncontrolling interests 2 8 Distributions to noncontrolling interests Common shares issued, net of issue costs Common shares repurchased Preference share dividends (167) (195) 2,485 (125) (188) (171) Common share dividends Net change in affiliate loans Other Net cash provided by (used in) financing activities (3,890) (3,595) 15 50 (20) (64) 2,787 (4,770) Effect of translation of foreign denominated cash and cash equivalents and restricted cash 192 (19) Net change in cash and cash equivalents and restricted cash Cash and cash equivalents and restricted cash at beginning of period Cash and cash equivalents and restricted cash at end of period (2,286) 183 5,985 907 3,699 1,090 The accompanying notes are an integral part of these interim consolidated financial statements ENBRIDGE INC. CONSOLIDATED STATEMENTS OF FINANCIAL POSITION June 30, December 31, 2024 2023 (unaudited; milions of Canadian dollars; number of shares in millions) Assets Current assets Cash and cash equivalents Restricted cash Trade receivables and unbilled revenues Other current assets Accounts receivable from affiliates 3,586 5,901 113 84 4,714 4,410 2,586 2,440 138 85 Inventory 1,362 1,479 12,499 14,399 Property, plant and equipment, net 120,288 104,641 Long-term investments 18,228 16,793 Restricted long-term investments 756 717 Deferred amounts and other assets 10,204 8,041 Intangible assets, net 4,505 3,537 Goodwill 34,316 31,848 Deferred income taxes 467 341 Total assets 201,263 180,317 Liabilities and equity Current liabilities Short-term borrowings 200 400 Trade payables and accrued liabilities 4,568 4,308 Other current liabilities 3,752 5,659 Accounts payable to affiliates 17 26 Interest payable 1,082 958 Current portion of long-term debt 6,711 6,084 16,330 17,435 Long-term debt 85,181 74,715 Other long-term liabilities 11,586 8,653 Deferred income taxes 17,913 15,031 131,010 115,834 Contingencies (Note 13) Equity Share capital Preference shares 6,818 6,818 Common shares (2,177 and 2,125 outstanding at June 30, 2024 and December 31, 2023, respectively) 71,698 69,180 Additional paid-in capital Deficit 272 (15,794) 268 (17,115) Accumulated other comprehensive income (Note) 4,234 2,303 Total Enbridge Inc. shareholders' equity 67,228 61,454 Noncontrolling interests 3,025 3,029 70,253 64,483 Total liabilities and equity 201,263 180,317 The accompanying notes are an integral part of these interim consolidated financial statements