Enbridge and Spectra Energy Complete Merger

Feb. 27, 2017

Enbridge Inc. (TSX:ENB)(NYSE:ENB) (Enbridge) announced the completion today of the previously announced stock-for-stock merger transaction (the Transaction) to acquire all of the outstanding common stock of Spectra Energy Corp (NYSE:SE) (Spectra Energy).

Trading in shares of Spectra Energy common stock on the New York Stock Exchange (NYSE) will be suspended effective as of the opening of trading today. In connection with the completion of the merger, the shares of common stock of Spectra Energy will be delisted from the NYSE and will be de-registered under the U.S. Securities Exchange Act of 1934. Common shares of Enbridge will continue to trade on both the NYSE and the Toronto Stock Exchange under the symbol "ENB".

Shares of Spectra Energy common stock represented in book-entry, non-certificated form will be automatically exchanged for common shares of Enbridge without any further action on the part of such Spectra Energy shareholders. CST Trust Company, the exchange agent for the Transaction, will be sending out letters of transmittal and other instructions in the next few days to Spectra Energy shareholders who hold stock certificates representing shares of Spectra Energy common stock, outlining specific actions that such shareholders will need to take to surrender their shares for common shares of Enbridge. Shareholders of Spectra Energy holding stock certificates should wait until they receive the letter of transmittal before surrendering their certificates.

Spectra Pipelines include

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