ENBRIDGE 2000 ANNU AL REPORT 1 HIGHLIGHTS Financial Operating 1 Energy Transportation operating highlights include the statistics of the 15.3% owned Lakehead System. 2 Highlights of Energy Distribution reflect the results of Enbridge Consumers Gas and other gas distribution operations on a quarter lag basis for the year ended September 30, 2000 and 1999. Energy Distribution volumes and the number of active customers are derived from the aggregate of buy/sell and transportation service supply arrangements. 3 Degree day deficiency is a measure of coldness. It is calculated by accumulating from October 1 the total number of degrees each day  by which the daily mean temperature falls below 18 degrees Celsius. The figures given are those accumulated in the Toronto area. (millions of dollars, except per share amounts) 2000 1999 1998 Earnings Applicable to Common Shareholders 392.3 287.9 240.9 Cash Provided from Operating Activities 264.0 495.1 312.4 Common Share Dividends Paid 202.1 186.4 168.3 Per Common Share Amounts (dollars per share) Earnings 2.54 1.91 1.66 Cash Provided from Operating Activities 1.71 3.28 2.15 Dividends 1.270 1.195 1.120 Return on Average Common Shareholders’ Equity 18.6% 14.3% 13.8% Debt to Debt Plus Shareholders’ Equity at Year End 67.6% 67.4% 69.7% 2000 1999 1998 Energy Transportation 1 Deliveries (thousands of barrels per day) 2,164 2,023 2,136 Barrel miles (billions) 743 696 771 Average haul (miles) 941 946 989 Energy Distribution 2 Volume of gas distributed (billion cubic feet) 421 402 397 Number of active customers (thousands) 1,520 1,466 1,414 Degree day deficiency 3 (degrees Celsius) Actual 3,569 3,460 3,352 Forecast based on normal weather 3,929 4,060 4,079 96 1.45 97 1.58 98 1.66 99 1.91 00 2.54 Earnings Per Common Share (dollars per share) 96 1.015 97 1.060 98 1.120 99 1.195 00 1.270 Dividends Per Common Share (dollars per share)