ENBRIDGE INCOME FUND HOLDINGS INC. Designed and Managed for Strength and Stability TD Securities Power & Utilities Conference June 2014 Perry Schuldhaus President 1
FORWARD LOOKING STATEMENTS This presentation includes certain forward looking information ( FLI ) to provide Enbridge Income Fund Holdings Inc. ( EIFH ) shareholders and potential investors with information about EIFH and its investee, Enbridge Income Fund (the Fund ), management's assessment of their 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 the FLI in this presentation is reasonable based on the information available today and the 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, known and unknown 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 and the FLI relating to the Fund. 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 the Fund 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 conditions, exchange rates, interest rates and commodity prices, including but not limited to those discussed more extensively in our filings and the filings of the Fund with Canadian 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 the future course of action of EIFH and the Fund depends on management's assessment of all information available at the relevant time. Except to the extent required by law, neither EIFH nor the Fund assumes any 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 cash available for distribution, 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. 2
COMPANY SNAPSHOT ENF is a growing player in the Canadian energy sector. We are designed and managed for strength and stability. Ticker Symbol: Market Capitalization: TSX: ENF ~$1.5 Billion Equity Capitalization: ~$3.5 Billion Enterprise Value*: Dividend Frequency: 2014 Annualized Dividend Per Share: ~$5.0 Billion Monthly $1.3752 CDN Dividend Yield: ~5.0% 10 year Dividend Growth Rate ~5.0% Dividend Reinvestment Plan (DRIP): Yes As at May 30, 2014. *Enterprise Value is comprised of ENF Market Cap, Common and Preferred Units of the Fund (held by ENB) and Debt within the Fund. 3
ASSET PORTFOLIO We have built a diversified portfolio of low risk energy infrastructure assets across our three business lines. 2013 CAFD 1 44% 19% 37% Natural Gas Transmission Crude Oil Transportation & Storage Green Energy 4 1 Cashflow from operating assets before working capital adjustments and corporate expenses, less maintenance capex, plus distributions from Alliance and NRGreen. Cash Available for Distribution (CAFD) before Corporate expenses, CAFD is a non-gaap measure.
CRUDE OIL ASSETS Our crude oil gathering system provides a vital link to U.S. markets for producers in Saskatchewan, Manitoba and North Dakota. Assets Capacity (kbpd) Saskatchewan Pipelines System Saskatchewan Gathering 255 Weyburn System 47 Virden System 37 Westspur System 255 Bakken Expansion Pipeline 145 Operational Storage ~450 kbbls Hardisty Contract Storage Hardisty Contract Terminals Hardisty Storage Caverns 7.5 million barrels 3.5 million barrels 5
NATURAL GAS TRANSMISSION Alliance Canada 970 1,005 Btu/cf Alliance Canada has consistently delivered close to 1.6 bcf/day of liquids-rich gas to premium markets in the U.S. 1,100-1,200 Btu/cf Approximately ~99% of Alliance s capacity is fully contracted through December 2015. Very Rich Gas: 1,020 1,200 Btu/cf > 1,400 Btu/cf Rich Gas: 1,050 < 1,400 Btu/cf Lean Gas: < 1,050 Btu/cf 1,425 1,528 Btu/cf Mmcf/d 1,800 1,600 1,400 1,200 1,000 800 600 400 200-2007 2008 2009 2010 2011 2012 2013 Alliance Volumes Firm Capacity ASLP ACE hub 6
GREEN POWER Renewable Generation Facilities ENF s Green Energy assets are diverse both by region and resource. Western Assets Ontario Assets Whitecourt (under construction) 7
ENF GREEN POWER SUMMARY With close to 580 MW of renewable energy capacity, ENF is now one of Canada s largest suppliers of environmentally friendly electric power. Facility Location Year in Service Size (MW) Equipment Details Fund s Interest Expiry Date Sunbridge Wind Gull Lake, SK 2002 11 MW 17 - Vestas V47 (650kW) Turbines 50% 2022 Magrath Wind Magrath, AB 2005 30 MW 20 - GE (1.5MW) Turbines 33% 2024 Chin Chute Wind Taber, AB 2006 30 MW 20 - GE (1.5MW) Turbines 33% 2017 Waste Heat Facilities (4) Saskatchewan 2006-2008 20 MW 5 MW each with a heat exchanger, a thermal oil loop and an energy converter Ontario Wind Kincardine, ON 2009 190 MW 115 - Vestas V82 (1.65MW) Turbines 100% Sarnia Solar Sarnia, ON 2009 80 MW ~ 1.3 Million Panels covering over 950 acres 50% 2016-2018; Options to extend for 2 successive 5 yrs. 2029; option to renew for 5 yrs. 100% 2029 Talbot Wind Ridgetown, ON 2010 99 MW 43 - Siemens 2.3MW Turbines 100% 2031 Tilbury Solar Tilbury, ON 2010 5 MW ~ 82,000 Panels 100% 2030 Amherstburg Solar Amherstburg, ON 2011 15 MW ~ 240,000 Panels 100% 2031 Greenwich Wind Dorion, ON 2011 99 MW 43 - Siemens 2.3MW Turbines 100% 2031 TOTAL 579 MW 8
ENBRIDGE CONSOLIDATED GREEN ENERGY FOOTPRINT Plant ENB Assets Location Energy Source Ownership Generating Capacity Capital Investment ($MM) Lac Alfred QC Wind 50% 308 MW 330 Blackspring Ridge AB Wind 50% 300 MW 330 Cedar Point CO Wind 100% 250 MW 520 Massif du Sud QC Wind 50% 153 MW 175 Keechi Creek TX Wind 100% 110 MW 185 St. Robert Bellarmin QC Wind 50% 82 MW 107 Silver State NV Solar 100% 50 MW 190 Neal Hot Springs I OR Geothermal 40% 22 MW 24 Hybrid Fuel Cell ON Fuel Cell 100% 2 MW 5 Total Assets 1277 MW 3,453 9
LOW RISK BUSINESS MODEL Designed and Managed to Provide Stable and Predictable Cash Flows. Solid underlying fundamentals Compelling long-term supply and demand drivers Strong contractual support Cost of service regulatory constructs; long-term contracts with downside protection Disciplined growth Strict investment criteria Prudent financial policies Conservative distribution payout and debt leverage Minimal market price and credit risk 10
DIVIDEND GROWTH Consistent execution has generated reliable dividends and steady growth. Per Share $1.60 Dividends/Distributions to Investors $1.40 $1.20 $1.00 $0.80 $0.60 $0.40 $0.20 $0.00 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014e Taxable Distribution paid by Enbridge Income Fund prior to restructuring in December 2010 Eligible Dividend paid by Enbridge Income Fund Holdings Inc. post restructuring 11
Q & A TSX: ENF 12
Contact Information: Teri Majer, Manager Investor Relations Phone: (403) 508-3185 Email: teri.majer@enbridge.com 13