HOLDINGS INC. Designed and Managed for Strength and Stability - PowerPoint PPT Presentation

ENBRIDGE INCOME FUND HOLDINGS INC. Designed and Managed for Strength and Stability Investment Community Presentation July 2013 1 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 2

COMPANY SNAPSHOT TSX: ENF Ticker Symbol: Enterprise Value: ~$5.0 Billion 80.1% 19.9% Public Market ~$1.4 Billion Capitalization: Monthly Dividend Frequency: Annualized Dividend Per $1.335 CDN Share: ~5.5% Dividend Yield: 10 year Liquids ~5% Dividend/Distribution Green Power Natural Gas Transportation Generation Growth Rate Transmission & Storage 3 3 3

VALUE PROPOSITION Our Fund is designed and managed to provide steady and predictable cashflow in all market conditions.  Low Risk Business Model  Diversified Asset Base  High Payout of Predictable Cash Flows  Strong Sponsor 4 4

CASHFLOW GENERATION Our cashflow has become increasingly diversified through acquisitions and organic growth. Green Power Generation Liquids Transportation & Storage Natural Gas Transmission Current CAFD 2 2010 CAFD 1 4% 20% 46% 34% 62% 34% > $350 MM > $120 MM 1 Cashflow from operating assets before working capital adjustments and corporate expenses, less maintenance capex, plus distributions from Alliance and NRGreen 5 5 2 Cash Available for Distribution (CAFD) before Corporate expenses, pro forma the acquisition of crude oil storage and renewable energy assets acquired in December 2012 as it these assets were owned by the Fund from January 1, 2012. CAFD is a non-GAAP measure.

THREE STRONG BUSINESSES We have built a diversified portfolio of low risk energy infrastructure assets across our three business lines. 6 6 6

GREEN POWER Renewable Generation Facilities One of Canada’s largest suppliers of environmentally friendly electric power. Western Assets Asset Asset Location Location Interest Interest Whitecourt (under construction) Greenwich Wind Greenwich Wind Ontario Ontario 100% 100% Ontario Wind Ontario Wind Ontario Ontario 100% 100% Talbot Wind Talbot Wind Ontario Ontario 100% 100% Magrath Wind Magrath Wind Alberta Alberta 33% 33% Chin Chute Wind Chin Chute Wind Alberta Alberta 33% 33% Sunbridge Wind Sunbridge Wind Saskatchewan Saskatchewan 50% 50% Sarnia Solar Sarnia Solar Ontario Ontario 100% 100% Amherstburg Solar Amherstburg Solar Ontario Ontario 100% 100% Ontario Assets Tilbury Solar Tilbury Solar Ontario Ontario 100% 100% NRGreen Waste Heat NRGreen Waste Heat Saskatchewan Saskatchewan 50% 50% 7 7

GREEN POWER Renewable Generation Facilities Commercial arrangements support stability of cashflow. • Power Price Risk – Eliminated through long-term Power Purchase Agreements • Demand Risk – Virtually eliminated through long-term Power Purchase Agreements • Energy Supply Risk – Substantially mitigated through diversification of assets by location and resource Gross Generating Avg. Remaining Facility Capacity Contract Length Ontario Wind 190 MW 17 Years Talbot 99 MW 19 Years Greenwich 99 MW 19 Years Magrath 30 MW 12 Years Chin Chute 30 MW 5 Years Greenwich Wind Project SunBridge 11 MW 10 Years Sarnia 80 MW 18 years Amherstburg 15 MW 19 Years Tilbury 5 MW 18 Years NRGreen Waste Heat 20 MW 15 Years ~17 Years TOTAL 534MW Wtg. Average 8 8 Amherstberg

LIQUIDS TRANSPORTATION & STORAGE Saskatchewan System Our crude oil gathering system provides a vital link to U.S. markets for producers in Saskatchewan, Manitoba and North Dakota. Capacity Assets (kbpd) Saskatchewan Gathering ENB Mainline 255 Weyburn System 47 Virden System 37 Bakken Expansion Program 145 Westspur System 255 Saskatchewan Tankage Facilities 450 Bakken Expansion Program 9 9

LIQUIDS TRANSPORTATION & STORAGE Saskatchewan System Bakken production is driving new investment and long-term growth. Toll Structures provide stability and predictability. Current Toll Asset Regulator Methodology Saskatchewan Gathering Cost of Service Saskatchewan Weyburn System Market Based Saskatchewan Virden System Market Based Manitoba Bakken Expansion Program Long Term Take or Pay NEB Fee for Service 1 Westspur System NEB - downside protection 1 Pending ratification by NEB Total Bakken Production North Dakota, Saskatchewan, & Manitoba MMbpd 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0.0 2012 2013 2014 2015 2016 2017 2018 2019 2020 Bakken Expansion Program 10 10 10

LIQUIDS TRANSPORTATION & STORAGE Hardisty Contract Storage Our contract storage assets are located at a key crude oil pipeline hub in Western Canada. Asset Capacity Description • Hardisty Contract 18 crude oil storage tanks 7.5 million barrels • Terminals 1 condensate storage tank • Hardisty Storage 4 underground caverns 3.5 million barrels • Caverns 2 above ground crude oil tanks 11 11

LIQUIDS TRANSPORTATION & STORAGE Hardisty Contract Storage Virtually all of the cashflow generated by these facilities is locked-in through long-term fixed price contracts. Contract Asset Remaining Contract Life Structure Hardisty Fully Contracted 2-9 years + additional 15 Contract (take-or-pay), years Terminals 80% of revenue with Enbridge Hardisty ~8 years + additional 15 Fully Contracted Storage years (take-or-pay) Caverns with Enbridge Contract Storage at Hardisty CAPP Western Canadian Production Forecast MMbpd Hardisty 5 Contract Other Terminal (HCT) 4 29% 3 50% 2 21% 1 0 Hardisty Caverns 2012 2013 2014 2015 2016 2017 2018 2019 2020 (HCLP) 12 12 Oil Sands Conventional Heavy Conv. Light and Medium Pentanes/Condensate Source : CAPP – Crude Oil Forecast, Markets & Pipelines (June 2012)

NATURAL GAS TRANSMISSION Alliance Canada Alliance Canada has consistently delivered close to 1.6 bcf/day of liquids-rich gas to premium markets in the U.S. Annual Historical Throughput Approximately ~99% of Alliance’s capacity is fully contracted through December 2015. Very Rich Gas : > 1,400 Btu/cf Rich Gas: 1,050 < 1,400 Btu/cf Lean Gas: < 1,050 Btu/cf 13 13 13

NATURAL GAS TRANSMISSION Alliance Canada Alliance’s geographic positioning and unique ability to cost effectively deliver liquids rich natural gas positions it well for the future. Competitive Strengths: • Footprint in growing rich-gas areas • Unique ability to transport liquids rich-gas • Reduced field capital requirements for Producers • Access to premium liquids markets • Cost competitive gas transportation to key delivery points Very Rich Gas : > 1,400 Btu/cf Rich Gas: 1,050 < 1,400 Btu/cf Lean Gas: < 1,050 Btu/cf 14 14 14