V COLOMBIA INVESTMENT CONFERENCE OIL & GAS - ANH Infraestructura para el Desarrollo de la Industria de los Hidrocarburos Richard Bird, Vicepresidente Ejecutivo Octubre 18 de 2012

Enbridge  Assets: $43 billion  Net Income: $1.3 billion  Employees: 10,100

Toronto Quebec City Core Business Segments 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 2011 Adjusted Earnings 65% 16% 17% 2011 Adjusted Earnings 2011 Adjusted Earnings 3% Wind Power Generation Waste Heat Recovery Solar Power Generation Geothermal Power Generation Power Transmission 63% 19% 15% 3

Priority One – Operational Excellence  Pipeline Integrity –4 th -Generation medical imaging crack detection technology  Pipeline Control –State-of-the-art automated proprietary systems GE UltraScan TM Duo with Phased Array Ultrasound

Priority One – Operational Excellence  Leak Detection –Advanced technology –Negative Wave –Acoustic –Temperature Sensing –Vapour Detection  Hydraulic Optimization –Operating pressure –Drag reducing agent –Diluent –Pump design Multipath Ultrasonic Flow Meter

Priority Two – Project Execution Capability  Cost/Schedule Management –State-of-the-art estimating, monitoring and remediation processes  Materials/Services Procurement –Global sourcing capability supporting $35 billion, five-year construction program  Deep Technical/Executive Leadership Experience –Major Projects Management department of 1,150 executed $11 billion 2009 – 2011 program 6 Better than Budget & On-Time On Budget & On-Time Over Budget & Delayed Project Status

Priority Three – Environmental Sustainability  Neutral Footprint Policy –Acquisition and set aside of natural habitat acreage equivalent to area of right of way disturbance  Renewable Energy Development –1,000 megawatts of wind and solar power; technology development investment  Greenhouse Gases –21% reduction from 1990 to 2010

Energy 4 Everyone Foundation – Ghana, Africa

Enbridge International Focus  Energy Infrastructure –Crude Oil –Refined Products –Natural Gas Pipeline and Storage Facilities 9  Country Criteria –Stable sociopolitical environment –Favourable fiscal, legal and regulatory climate –Strong energy supply fundamentals Focus Regions/Countries Latin AmericaAsia Pacific Colombia Australia Peru

Colombia Investment Climate 10 Source: EIA  Supportive economic/regulatory and royalty structure  Crude production growth; increasing heavy slate  Transportation constraints  Asian demand growth Colombia Crude Oil Market Balance (kb/d) Source: Business Monitor International

Oleoducto al Pacífico (OAP) 11 Buenaventura Tumaco CPE 6 CPO 9 OMBU

 An independently-operated Colombian solution to crude transport constraints  Direct access to alternative / high growth Pacific markets  Flexibility to serve large and small producers  Improved netbacks for producers facing high costs and limited transport options  Separation of capital investment requirements from shipping contracts  Benefits to the national interest, stimulating the upstream sector and economy as a whole 12 OAP Attributes

 Reduce reliance on one port  Diversify markets  Higher netbacks on its royalty oil  Increased income for municipalities 13  Supporting infrastructure development for undeveloped regions  Opportunity for the government to consolidate governability in difficult access areas. Main Benefits for Colombia

Changing crude oil fundamentals Unique opportunity for Colombia OAP is a viable project with many benefits to the country and to producers Government support is key 14 Key Conclusions