On May 16, 2024, Enbridge Inc. (TSX: ENB) (NYSE: ENB) launched an at-the-market (ATM) equity issuance program to raise up to $2.75 billion (or the U.S. dollar equivalent) by selling common shares to the public. This move was aimed at partially funding the previously announced acquisitions of three U.S. natural gas utilities from Dominion Energy, Inc. Enbridge's funding options also included issuing senior unsecured notes, hybrid debt, and its capital recycling program.

The ATM Option allowed Enbridge to issue and sell common shares at prevailing market prices through the Toronto Stock Exchange, New York Stock Exchange, or other marketplaces in Canada and the U.S. The Equity Distribution Agreement for this program, dated May 15, 2024, involved a syndicate of sales agents led by BMO Nesbitt Burns Inc. in Canada and BMO Capital Markets Corp. in the U.S. Additional agents included CIBC Capital Markets, National Bank Financial Markets, Scotiabank, TD Securities, Barclays, BofA Securities, Citigroup, Deutsche Bank Securities, Mizuho, Wells Fargo Securities, RBC Capital Markets, ATB Capital Markets, Desjardins Capital Markets, and Morgan Stanley.

The ATM Option filings were made via a Canadian prospectus supplement and a U.S. prospectus supplement, dated May 15, 2024. Legal documentation was accessible through SEDAR+ and the SEC's website. This initiative did not constitute an offer or solicitation to sell securities in jurisdictions where such actions would be unlawful.