<SEC-DOCUMENT>0001144204-15-039301.txt : 20150626
<SEC-HEADER>0001144204-15-039301.hdr.sgml : 20150626
<ACCEPTANCE-DATETIME>20150626135149
ACCESSION NUMBER:		0001144204-15-039301
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20141231
FILED AS OF DATE:		20150626
DATE AS OF CHANGE:		20150626

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ENBRIDGE INC
		CENTRAL INDEX KEY:			0000895728
		STANDARD INDUSTRIAL CLASSIFICATION:	PIPE LINES (NO NATURAL GAS) [4610]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15254
		FILM NUMBER:		15954404

	BUSINESS ADDRESS:	
		STREET 1:		3000 425 - 1ST STREET SW
		CITY:			CALGARY ALBERTA CANA
		STATE:			A0
		ZIP:			T2P 3L8
		BUSINESS PHONE:		4032313900

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IPL ENERGY INC
		DATE OF NAME CHANGE:	19940616

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERPROVINCIAL PIPE LINE SYSTEM INC
		DATE OF NAME CHANGE:	19930108
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>v413943_11k.htm
<DESCRIPTION>11-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 11-K </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>FOR ANNUAL
REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>AND SIMILAR
PLANS PURSUANT TO SECTION 15(d) OF THE </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>SECURITIES
EXCHANGE ACT OF 1934 </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36.7pt; text-align: justify; text-indent: -36.7pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 10%; font-size: 10pt; text-align: justify"><font style="font: 10pt Wingdings">x</font></td>
    <TD STYLE="width: 90%; font-size: 10pt; text-align: justify"><b>Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 </b></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the fiscal year ended December&nbsp;31,
2014 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>or </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36.7pt; text-align: justify; text-indent: -36.7pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 10%; font-size: 10pt; text-align: justify"><font style="font: 10pt Wingdings">&uml;</font></td>
    <TD STYLE="width: 90%; font-size: 10pt; text-align: justify"><b>Transition Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 </b></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the transition period from &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Commission file number: 001-15254 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Enbridge Employee Services, Inc. Employees&rsquo;
Savings Plan </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1100 Louisiana Street </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Suite 3300 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Houston, TX 77002-5216 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Full title of the plan and the address of the
plan)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Enbridge Inc. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>3000 Fifth Avenue Place </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>425-1<FONT STYLE="font-size: 10pt"><SUP>st</SUP></FONT>
Street S.W. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Calgary, Alberta, Canada T2P 3L8 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name of the issuer of the securities held pursuant
to the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">plan and the address of its principal executive
office)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.35in; text-align: center; text-indent: -0.15in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.35in; text-align: center; text-indent: -0.15in">TABLE
OF CONTENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.55in; text-indent: -0.15in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; width: 90%; padding-left: 12pt; text-indent: -12pt"><font style="font-size: 10pt"><A HREF="#a_001">Report of Independent Registered Public Accounting Firm</A></font></td>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 10%; text-align: right"><font style="font-size: 10pt">2</font></td></tr>
<TR STYLE="background-color: White">
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><font style="font-size: 10pt"><A HREF="#a_002">Statements of Net Assets Available for Benefits as of December&nbsp;31, 2014 and 2013</A></font></td>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3</font></td></tr>
<TR STYLE="background-color: White">
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt"><A HREF="#a_003">Statement of Changes in Net Assets Available for Benefits for the year ended December&nbsp;31, 2014</A> </font></td>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4</font></td></tr>
<TR STYLE="background-color: White">
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><font style="font-size: 10pt"><A HREF="#a_004">Notes to Financial Statements</A></font></td>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5-15</font></td></tr>
<TR STYLE="background-color: White">
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><font style="font-size: 10pt"><A HREF="#a_005">Supplementary Information:</A></font></td>
    <TD STYLE="vertical-align: bottom; padding-left: 0.1in; text-align: right">16</td></tr>
<TR STYLE="background-color: White">
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><font style="font-size: 10pt"><A HREF="#a_006">Schedule of Assets (Held at End of Year) as of December&nbsp;31, 2014</A></font></td>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">17</font></td></tr>
<TR STYLE="background-color: White">
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><font style="font-size: 10pt"><A HREF="#a_007">Signature</A></font></td>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">18</font></td></tr>
<TR STYLE="background-color: White">
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><font style="font-size: 10pt"><A HREF="#a_008">Exhibit Index</A>:</font></td>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">19</font></td></tr>
<TR STYLE="background-color: White">
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">23.1&nbsp;&nbsp;&nbsp;&nbsp; Consent of Independent Registered Public Accounting Firm</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Note: &nbsp;Certain schedules required by 29 CFR 2520.103-10 of
the Department of Labor&rsquo;s Rules and Regulations for Reporting and Disclosures under the Employee Retirement Income Security
Act of 1974, or ERISA, have been omitted because they are not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_001"></A>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">To the Participants and Plan Administrator of the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Enbridge Employee Services, Inc. Employees&rsquo; Savings Plan:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have audited the accompanying statements
of net assets available for benefits of the Enbridge Employee Services, Inc. Employees&rsquo; Savings Plan (the Plan) as of December
31, 2014 and 2013, and the related statement of changes in net assets available for benefits for the year ended December 31, 2014.
These financial statements are the responsibility of Plan management. Our responsibility is to express an opinion on these financial
statements based on our audits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We conducted our audits in accordance with
the auditing standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and
perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. The
Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits
included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate
in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the Plan&rsquo;s internal control
over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant
estimates made by Plan management, as well as evaluating the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In our opinion, the financial statements referred
to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2014 and
2013, and the changes in net assets available for benefits for the year ended December 31, 2014 in conformity with accounting principles
generally accepted in the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The supplementary information listed in
the table of contents has been subjected to audit procedures performed in conjunction with the audit of the Plan&rsquo;s
financial statements. The supplementary information is presented for the purpose of additional analysis and is not a required
part of the financial statements but is supplementary information required by the Department of Labor's (DOL) Rules and
Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 (ERISA). The supplementary
information is the responsibility of the Plan management. Our audit procedures included determining whether the supplementary
information reconciles to the financial statements or the underlying accounting and other records, as applicable, and
performing procedures to test the completeness and accuracy of the information presented in the supplementary information. In
forming our opinion on the supplementary information, we evaluated whether the supplementary information, including its form
and content, is presented in conformity with the DOL Rules and Regulations for Reporting and Disclosure under ERISA. In
our opinion, the supplementary information is fairly stated, in all material respects, in relation to the financial
statements as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">/s/ McConnell &amp; Jones LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Houston, Texas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">June 26, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><A NAME="a_002"></A><B>Enbridge
Employee<FONT STYLE="letter-spacing: -0.6pt"> </FONT>Services,<FONT STYLE="letter-spacing: -0.5pt"> </FONT>Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 23.95pt 0 24.75pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Employees&rsquo;
Savings<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Statements
of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Net<FONT STYLE="letter-spacing: -0.2pt"> </FONT>Assets<FONT STYLE="letter-spacing: -0.35pt">
</FONT>Available<FONT STYLE="letter-spacing: -0.55pt"> </FONT>for<FONT STYLE="letter-spacing: -0.2pt"> </FONT>Benefits</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 52.55pt 0 53.6pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>December
31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014<FONT STYLE="letter-spacing: -0.3pt"> </FONT>and<FONT STYLE="letter-spacing: -0.25pt">
</FONT>2013</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 52.55pt 0 53.6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 52.55pt 0 53.6pt; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 52.55pt 0 53.6pt; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold"></TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">(in thousands)</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="font-weight: bold">Assets</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; font-weight: normal; text-align: left; padding-left: 0.125in; font-style: normal"><B>Investments, at
    fair value</B> (Notes 4 and 5)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">485,338</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">427,178</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: normal; text-align: left; padding-left: 0.125in; font-style: normal"><B>Receivables</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Contributions receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,049</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Notes receivable from participants (Note 1)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,842</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,188</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt; padding-left: 0.125in">Cash</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">652</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">32</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Net assets, at fair value</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">493,832</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">435,447</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in">Adjustments from fair value to contract value for fully benefit-responsive investment contracts (Note 7)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(551</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(483</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net Assets Available for Benefits</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">493,281</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">434,964</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><A NAME="a_003"></A>Enbridge
Employee<FONT STYLE="letter-spacing: -0.6pt"> </FONT>Services,<FONT STYLE="letter-spacing: -0.5pt"> </FONT>Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 23.95pt 0 24.75pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Employees&rsquo;
Savings<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Statement
of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Changes<FONT STYLE="letter-spacing: -0.5pt"> </FONT>in<FONT STYLE="letter-spacing: -0.1pt">
</FONT>Net<FONT STYLE="letter-spacing: -0.2pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">A</FONT>ssets<FONT STYLE="letter-spacing: -0.35pt">
</FONT>Available<FONT STYLE="letter-spacing: -0.55pt"> </FONT>for<FONT STYLE="letter-spacing: -0.3pt"> </FONT>Benefits</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>For<FONT STYLE="letter-spacing: -0.2pt">
</FONT>the<FONT STYLE="letter-spacing: -0.2pt"> </FONT>Year<FONT STYLE="letter-spacing: -0.3pt"> </FONT>Ended<FONT STYLE="letter-spacing: -0.4pt">
</FONT>December<FONT STYLE="letter-spacing: -0.6pt"> </FONT>31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2014</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">(in thousands)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Additions</B></FONT></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Investment
    Income</B></FONT> <B>(Note 4)</B></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 87%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.25in">Net appreciation in fair value of common stock and mutual funds </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">40,662</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.25in">Net appreciation in fair value of common and collective trust funds </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,139</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Dividends </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">14,254</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 27pt">Net investment income</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">57,055</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Contributions (Note 2)</B></FONT></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in">Employer</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">10,967</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in">Participant</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">20,282</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 0.25in">Rollovers</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,255</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 27pt">Total contributions</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">33,504</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Interest Income on Notes Receivable from Participants (Note 2)</B></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">321</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total additions</B></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">90,880</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Deductions</B></FONT></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 9pt">Benefits paid directly to participants (Note 2)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(32,532</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 9pt">Administrative expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(31</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 27pt">Total deductions</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(32,563</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net Increase</B></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">58,317</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net Assets Available for Benefits, Beginning of Year</B></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">434,964</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net Assets Available for Benefits, End of Year</B></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">493,281</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><A NAME="a_004"></A>Enbridge
Employee<FONT STYLE="letter-spacing: -0.6pt"> </FONT>Services,<FONT STYLE="letter-spacing: -0.5pt"> </FONT>Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Employees&rsquo;
Savings<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Notes
to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Financial<FONT STYLE="letter-spacing: -0.55pt"> </FONT>Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>December<FONT STYLE="letter-spacing: -0.6pt">
</FONT>31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014<FONT STYLE="letter-spacing: -0.3pt"> </FONT>and<FONT STYLE="letter-spacing: -0.25pt">
</FONT>2013</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Note 1:</B></TD><TD STYLE="text-align: justify"><B>Des<FONT STYLE="letter-spacing: 0.05pt">c</FONT>ription
of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the<FONT STYLE="letter-spacing: -0.15pt"> </FONT>Plan</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>General</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 0.35pt">
</FONT>following<FONT STYLE="letter-spacing: 0.1pt"> </FONT>is<FONT STYLE="letter-spacing: 0.45pt"> </FONT>a<FONT STYLE="letter-spacing: 0.5pt">
</FONT>general<FONT STYLE="letter-spacing: 0.2pt"> </FONT>description<FONT STYLE="letter-spacing: 0.05pt"> </FONT>of<FONT STYLE="letter-spacing: 0.45pt">
</FONT>the<FONT STYLE="letter-spacing: 0.4pt"> </FONT>Enbridge<FONT STYLE="letter-spacing: 0.1pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">E</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>plo<FONT STYLE="letter-spacing: 0.1pt">y</FONT>ee<FONT STYLE="letter-spacing: 0.05pt">
</FONT>Services,<FONT STYLE="letter-spacing: 0.15pt"> </FONT>Inc.<FONT STYLE="letter-spacing: 0.35pt"> </FONT>E<FONT STYLE="letter-spacing: -0.1pt">m</FONT>plo<FONT STYLE="letter-spacing: 0.1pt">y</FONT>ees&rsquo;
Savings Plan,<FONT STYLE="letter-spacing: 0.2pt"> </FONT>which<FONT STYLE="letter-spacing: 0.15pt"> </FONT>is<FONT STYLE="letter-spacing: 0.35pt">
</FONT>refer<FONT STYLE="letter-spacing: 0.05pt">r</FONT>ed<FONT STYLE="letter-spacing: 0.05pt"> </FONT>to<FONT STYLE="letter-spacing: 0.3pt">
</FONT>herein<FONT STYLE="letter-spacing: 0.15pt"> </FONT>as<FONT STYLE="letter-spacing: 0.3pt"> </FONT>the<FONT STYLE="letter-spacing: 0.25pt">
</FONT>Plan,<FONT STYLE="letter-spacing: 0.2pt"> </FONT>and<FONT STYLE="letter-spacing: 0.25pt"> </FONT>is<FONT STYLE="letter-spacing: 0.15pt">
</FONT>qualified in<FONT STYLE="letter-spacing: 0.3pt"> </FONT>i<FONT STYLE="letter-spacing: -0.05pt">t</FONT>s<FONT STYLE="letter-spacing: 0.3pt">
</FONT>entirety<FONT STYLE="letter-spacing: 0.15pt"> </FONT>by<FONT STYLE="letter-spacing: 0.25pt"> </FONT>reference to<FONT STYLE="letter-spacing: 0.3pt">
</FONT>the<FONT STYLE="letter-spacing: 0.25pt"> </FONT>Plan Doc<FONT STYLE="letter-spacing: 0.1pt">u</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent
as<FONT STYLE="letter-spacing: 0.35pt"> </FONT>amended. Participants<FONT STYLE="letter-spacing: 0.05pt"> </FONT>should<FONT STYLE="letter-spacing: 0.15pt">
</FONT>refer<FONT STYLE="letter-spacing: 0.25pt"> </FONT>to<FONT STYLE="letter-spacing: 0.35pt"> </FONT>the<FONT STYLE="letter-spacing: 0.3pt">
</FONT>Plan<FONT STYLE="letter-spacing: 0.25pt"> </FONT>Docu<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent for<FONT STYLE="letter-spacing: 0.35pt">
</FONT>a<FONT STYLE="letter-spacing: 0.5pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">o</FONT>re<FONT STYLE="letter-spacing: 0.35pt">
</FONT>co<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>lete description<FONT STYLE="letter-spacing: 1.25pt">
</FONT>of<FONT STYLE="letter-spacing: 1.65pt"> </FONT>its<FONT STYLE="letter-spacing: 1.65pt"> </FONT>provisions. <FONT STYLE="letter-spacing: 0.2pt">
</FONT>In<FONT STYLE="letter-spacing: 1.6pt"> </FONT>the <FONT STYLE="letter-spacing: 0.05pt">c</FONT>ase of<FONT STYLE="letter-spacing: 1.6pt">
</FONT>a<FONT STYLE="letter-spacing: 0.05pt">n</FONT>y<FONT STYLE="letter-spacing: 1.65pt"> </FONT>discrepancy between this<FONT STYLE="letter-spacing: 1.6pt">
</FONT>s<FONT STYLE="letter-spacing: 0.1pt">u</FONT>mm<FONT STYLE="letter-spacing: 0.05pt">a</FONT>ry and the Plan Docu<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent,
the<FONT STYLE="letter-spacing: 0.05pt"> </FONT>Plan Document will<FONT STYLE="letter-spacing: 0.05pt"> </FONT>govern. The<FONT STYLE="letter-spacing: 0.05pt">
</FONT>Plan p<FONT STYLE="letter-spacing: -0.05pt">r</FONT>ovides a<FONT STYLE="letter-spacing: 0.15pt"> </FONT>p<FONT STYLE="letter-spacing: -0.05pt">r</FONT>ogram
whereby<FONT STYLE="letter-spacing: -0.1pt"> </FONT>eligible p<FONT STYLE="letter-spacing: -0.05pt">a</FONT>rticipants may acc<FONT STYLE="letter-spacing: 0.1pt">u</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">ul</FONT>ate
<FONT STYLE="letter-spacing: 0.05pt">s</FONT>avings<FONT STYLE="letter-spacing: 1.6pt"> </FONT>on a regular<FONT STYLE="letter-spacing: 1.65pt">
</FONT><FONT STYLE="letter-spacing: 0.1pt">b</FONT>asis. The P<FONT STYLE="letter-spacing: 0.05pt">l</FONT>an is a defined<FONT STYLE="letter-spacing: 1.6pt">
</FONT>contribution plan intended to satisfy<FONT STYLE="letter-spacing: 0.3pt"> </FONT>the<FONT STYLE="letter-spacing: 0.35pt">
</FONT>requirements<FONT STYLE="letter-spacing: -0.05pt"> </FONT>of<FONT STYLE="letter-spacing: 0.4pt"> </FONT>Section<FONT STYLE="letter-spacing: 0.15pt">
</FONT>401<FONT STYLE="letter-spacing: -0.05pt">(</FONT>a)<FONT STYLE="letter-spacing: 0.2pt"> </FONT>of<FONT STYLE="letter-spacing: 0.4pt">
</FONT>the<FONT STYLE="letter-spacing: 0.35pt"> </FONT>I<FONT STYLE="letter-spacing: 0.05pt">n</FONT>ternal<FONT STYLE="letter-spacing: 0.15pt">
</FONT>Revenue<FONT STYLE="letter-spacing: 0.1pt"> </FONT>Code<FONT STYLE="letter-spacing: 0.25pt"> </FONT>of<FONT STYLE="letter-spacing: 0.4pt">
</FONT>19<FONT STYLE="letter-spacing: -0.05pt">8</FONT>6,<FONT STYLE="letter-spacing: 0.25pt"> </FONT>as<FONT STYLE="letter-spacing: 0.4pt">
</FONT>amended,<FONT STYLE="letter-spacing: 0.1pt"> </FONT>which is<FONT STYLE="letter-spacing: 0.4pt"> </FONT>referred<FONT STYLE="letter-spacing: 0.15pt">
</FONT>to<FONT STYLE="letter-spacing: 0.4pt"> </FONT>as<FONT STYLE="letter-spacing: 0.4pt"> </FONT>the<FONT STYLE="letter-spacing: 0.35pt">
</FONT>Code,<FONT STYLE="letter-spacing: 0.2pt"> </FONT>and<FONT STYLE="letter-spacing: 0.35pt"> </FONT>the<FONT STYLE="letter-spacing: 0.35pt">
</FONT>E<FONT STYLE="letter-spacing: -0.1pt">m</FONT>plo<FONT STYLE="letter-spacing: 0.1pt">y</FONT>ee<FONT STYLE="letter-spacing: 0.05pt">
</FONT>Retir<FONT STYLE="letter-spacing: 0.05pt">e</FONT>ment Inco<FONT STYLE="letter-spacing: -0.1pt">m</FONT>e<FONT STYLE="letter-spacing: 0.15pt">
</FONT><FONT STYLE="letter-spacing: 0.05pt">S</FONT>ecurity<FONT STYLE="letter-spacing: 0.2pt"> </FONT>Act<FONT STYLE="letter-spacing: 0.3pt">
</FONT>of<FONT STYLE="letter-spacing: 0.4pt"> </FONT>1974,<FONT STYLE="letter-spacing: 0.2pt"> </FONT>or<FONT STYLE="letter-spacing: 0.4pt">
</FONT>ERISA,<FONT STYLE="letter-spacing: 0.15pt"> </FONT>as a<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ended. <FONT STYLE="letter-spacing: 0.45pt">
</FONT><FONT STYLE="letter-spacing: 0.05pt">Th</FONT>e<FONT STYLE="letter-spacing: 1.65pt"> </FONT>Plan<FONT STYLE="letter-spacing: 1.6pt">
</FONT>allows participa<FONT STYLE="letter-spacing: 0.1pt">n</FONT>ts to contr<FONT STYLE="letter-spacing: -0.05pt">i</FONT>bute
to the<FONT STYLE="letter-spacing: 1.65pt"> </FONT>Plan<FONT STYLE="letter-spacing: 1.6pt"> </FONT>on a pre-tax and<FONT STYLE="letter-spacing: 1.65pt">
</FONT>after tax<FONT STYLE="letter-spacing: 1.65pt"> </FONT>basis pursuant to<FONT STYLE="letter-spacing: 0.15pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">S</FONT>ection<FONT STYLE="letter-spacing: -0.1pt">
</FONT>401<FONT STYLE="letter-spacing: -0.05pt">(</FONT>k)<FONT STYLE="letter-spacing: -0.05pt"> </FONT>of<FONT STYLE="letter-spacing: 0.15pt">
</FONT>the<FONT STYLE="letter-spacing: 0.1pt"> </FONT>Code<FONT STYLE="letter-spacing: -0.05pt"> </FONT>and<FONT STYLE="letter-spacing: 0.1pt">
</FONT>prov<FONT STYLE="letter-spacing: -0.05pt">id</FONT>es for<FONT STYLE="letter-spacing: 0.1pt"> </FONT>e<FONT STYLE="letter-spacing: -0.1pt">m</FONT>pl<FONT STYLE="letter-spacing: -0.05pt">o</FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT>er
matching contributi<FONT STYLE="letter-spacing: -0.05pt">o</FONT>ns pu<FONT STYLE="letter-spacing: -0.05pt">r</FONT>suant <FONT STYLE="letter-spacing: -0.05pt">t</FONT>o
Section 401<FONT STYLE="letter-spacing: -0.05pt">(</FONT>m) of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the Co<FONT STYLE="letter-spacing: -0.05pt">d</FONT>e.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">Enbridge<FONT STYLE="letter-spacing: 0.1pt">
</FONT>Emplo<FONT STYLE="letter-spacing: 0.1pt">y</FONT>ee<FONT STYLE="letter-spacing: 0.05pt"> </FONT>Services,<FONT STYLE="letter-spacing: 0.1pt">
</FONT>Inc.,<FONT STYLE="letter-spacing: 0.3pt"> </FONT>which<FONT STYLE="letter-spacing: 0.25pt"> </FONT>is<FONT STYLE="letter-spacing: 0.45pt">
</FONT>refer<FONT STYLE="letter-spacing: 0.05pt">r</FONT>ed<FONT STYLE="letter-spacing: 0.2pt"> </FONT>to<FONT STYLE="letter-spacing: 0.4pt">
</FONT>herein<FONT STYLE="letter-spacing: 0.25pt"> </FONT>as<FONT STYLE="letter-spacing: 0.4pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">th</FONT>e<FONT STYLE="letter-spacing: 0.35pt">
</FONT>C<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>an<FONT STYLE="letter-spacing: 0.1pt">y</FONT>,
is<FONT STYLE="letter-spacing: 0.45pt"> </FONT>the<FONT STYLE="letter-spacing: 0.35pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.3pt">
</FONT>sponsor. The<FONT STYLE="letter-spacing: 0.5pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.45pt"> </FONT>is<FONT STYLE="letter-spacing: 0.6pt">
</FONT>ad<FONT STYLE="letter-spacing: -0.1pt">m</FONT>inistered<FONT STYLE="letter-spacing: 0.1pt"> </FONT>by<FONT STYLE="letter-spacing: 0.55pt">
</FONT>the<FONT STYLE="letter-spacing: 0.55pt"> </FONT>Co<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>any<FONT STYLE="letter-spacing: 0.3pt">
</FONT>and<FONT STYLE="letter-spacing: 0.5pt"> </FONT>is<FONT STYLE="letter-spacing: 0.6pt"> </FONT>advised<FONT STYLE="letter-spacing: 0.35pt">
</FONT>by<FONT STYLE="letter-spacing: 0.6pt"> </FONT>the<FONT STYLE="letter-spacing: 0.55pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">P</FONT>ension<FONT STYLE="letter-spacing: 0.3pt">
</FONT>Ad<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">i</FONT>nistration Committee, which<FONT STYLE="letter-spacing: -0.25pt">
</FONT>is<FONT STYLE="letter-spacing: -0.05pt"> </FONT>referred<FONT STYLE="letter-spacing: -0.35pt"> </FONT>to<FONT STYLE="letter-spacing: -0.1pt">
</FONT>as<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the PAC,<FONT STYLE="letter-spacing: -0.25pt"> </FONT>whose me<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.1pt">b</FONT>ers
are appointed <FONT STYLE="letter-spacing: -0.05pt">b</FONT>y<FONT STYLE="letter-spacing: -0.05pt"> </FONT>the<FONT STYLE="letter-spacing: -0.1pt">
</FONT>Co<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>an<FONT STYLE="letter-spacing: 0.1pt">y</FONT>.
T.<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Rowe<FONT STYLE="letter-spacing: -0.25pt"> </FONT>Price<FONT STYLE="letter-spacing: -0.25pt">
</FONT>Trust C<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>an<FONT STYLE="letter-spacing: 0.1pt">y</FONT>,
<FONT STYLE="letter-spacing: -0.05pt">w</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>ich<FONT STYLE="letter-spacing: 0.2pt">
</FONT>is<FONT STYLE="letter-spacing: 0.4pt"> </FONT>referred<FONT STYLE="letter-spacing: 0.1pt"> </FONT>to<FONT STYLE="letter-spacing: 0.35pt">
</FONT>herein<FONT STYLE="letter-spacing: 0.25pt"> </FONT>as<FONT STYLE="letter-spacing: 0.35pt"> </FONT>the<FONT STYLE="letter-spacing: 0.3pt">
</FONT>Trus<FONT STYLE="letter-spacing: 0.05pt">te</FONT>e,<FONT STYLE="letter-spacing: 0.1pt"> </FONT>is<FONT STYLE="letter-spacing: 0.4pt">
</FONT>the<FONT STYLE="letter-spacing: 0.3pt"> </FONT>Tru<FONT STYLE="letter-spacing: 0.05pt">s</FONT>tee for<FONT STYLE="letter-spacing: 0.35pt">
</FONT>the<FONT STYLE="letter-spacing: 0.3pt"> </FONT>P<FONT STYLE="letter-spacing: 0.05pt">l</FONT>an,<FONT STYLE="letter-spacing: 0.25pt">
</FONT>and<FONT STYLE="letter-spacing: 0.3pt"> </FONT>T.<FONT STYLE="letter-spacing: 0.35pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">Ro</FONT>we<FONT STYLE="letter-spacing: 0.2pt">
</FONT>Pri<FONT STYLE="letter-spacing: 0.05pt">c</FONT>e Retir<FONT STYLE="letter-spacing: 0.05pt">e</FONT>ment Plan Services,
<FONT STYLE="letter-spacing: 0.05pt">In</FONT>c. is<FONT STYLE="letter-spacing: -0.05pt"> </FONT>the record <FONT STYLE="letter-spacing: -0.05pt">k</FONT>eeper
of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the Plan as<FONT STYLE="letter-spacing: -0.1pt"> </FONT>es<FONT STYLE="letter-spacing: 0.05pt">t</FONT>ablished
by the Co<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>an<FONT STYLE="letter-spacing: 0.1pt">y</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">All<FONT STYLE="letter-spacing: 0.35pt">
</FONT>regular<FONT STYLE="letter-spacing: 0.15pt"> </FONT>e<FONT STYLE="letter-spacing: -0.1pt">m</FONT>plo<FONT STYLE="letter-spacing: 0.1pt">y</FONT>ees
of<FONT STYLE="letter-spacing: 0.4pt"> </FONT>the<FONT STYLE="letter-spacing: 0.35pt"> </FONT>Co<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>any<FONT STYLE="letter-spacing: 0.05pt">
</FONT>are<FONT STYLE="letter-spacing: 0.35pt"> </FONT>eligible<FONT STYLE="letter-spacing: 0.15pt"> </FONT>to<FONT STYLE="letter-spacing: 0.35pt">
</FONT>participate in<FONT STYLE="letter-spacing: 0.4pt"> </FONT>the<FONT STYLE="letter-spacing: 0.35pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.25pt">
</FONT>as<FONT STYLE="letter-spacing: 0.4pt"> </FONT>soon<FONT STYLE="letter-spacing: 0.25pt"> </FONT>as a<FONT STYLE="letter-spacing: 0.1pt">d</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>inistratively<FONT STYLE="letter-spacing: 0.4pt">
</FONT>possible<FONT STYLE="letter-spacing: 0.75pt"> </FONT>following<FONT STYLE="letter-spacing: 0.65pt"> </FONT>their<FONT STYLE="letter-spacing: 0.9pt">
</FONT>date<FONT STYLE="letter-spacing: 0.9pt"> </FONT>of<FONT STYLE="letter-spacing: 0.95pt"> </FONT>hire. <FONT STYLE="letter-spacing: 2pt">
</FONT>Te<FONT STYLE="letter-spacing: -0.1pt">m</FONT>porary<FONT STYLE="letter-spacing: 0.6pt"> </FONT>e<FONT STYLE="letter-spacing: -0.1pt">m</FONT>plo<FONT STYLE="letter-spacing: 0.1pt">y</FONT>ees,<FONT STYLE="letter-spacing: 0.6pt">
</FONT>who<FONT STYLE="letter-spacing: 0.9pt"> </FONT>are<FONT STYLE="letter-spacing: 0.95pt"> classified as </FONT>laborers,<FONT STYLE="letter-spacing: 0.7pt">
</FONT>a<FONT STYLE="letter-spacing: 0.05pt">r</FONT>e eligible<FONT STYLE="letter-spacing: 0.25pt"> </FONT>to<FONT STYLE="letter-spacing: 0.5pt">
</FONT>make<FONT STYLE="letter-spacing: 0.35pt"> </FONT>plan<FONT STYLE="letter-spacing: 0.4pt"> </FONT>contributions on the earlier<FONT STYLE="letter-spacing: 0.35pt">
</FONT>of<FONT STYLE="letter-spacing: 0.5pt"> </FONT>(i)<FONT STYLE="letter-spacing: 0.5pt"> </FONT>the first<FONT STYLE="letter-spacing: 0.4pt">
</FONT>day<FONT STYLE="letter-spacing: 0.5pt"> </FONT>of<FONT STYLE="letter-spacing: 0.5pt"> </FONT>t<FONT STYLE="letter-spacing: 0.05pt">h</FONT>e<FONT STYLE="letter-spacing: 0.5pt">
</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>onth following<FONT STYLE="letter-spacing: 0.15pt"> </FONT>the c<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>letion<FONT STYLE="letter-spacing: -0.1pt">
</FONT>of a<FONT STYLE="letter-spacing: 0.35pt"> </FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT>ear of vesting<FONT STYLE="letter-spacing: 0.1pt">
</FONT>service<FONT STYLE="letter-spacing: 0.15pt"> </FONT>or (ii) the<FONT STYLE="letter-spacing: 0.25pt"> </FONT>date upon which<FONT STYLE="letter-spacing: 0.15pt">
</FONT>the<FONT STYLE="letter-spacing: 0.25pt"> </FONT>e<FONT STYLE="letter-spacing: -0.1pt">m</FONT>plo<FONT STYLE="letter-spacing: 0.1pt">y</FONT>ee
begins<FONT STYLE="letter-spacing: 0.1pt"> </FONT>filling<FONT STYLE="letter-spacing: 0.15pt"> </FONT>a<FONT STYLE="letter-spacing: 0.35pt">
</FONT>full- time or part-t<FONT STYLE="letter-spacing: 0.05pt">i</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>e es<FONT STYLE="letter-spacing: 0.05pt">t</FONT>ablished<FONT STYLE="letter-spacing: -0.1pt">
</FONT>position<FONT STYLE="letter-spacing: 0.05pt"> </FONT>with the<FONT STYLE="letter-spacing: 0.25pt"> </FONT>Co<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>any
or a<FONT STYLE="letter-spacing: 0.35pt"> </FONT>Participating Affiliate, as defined<FONT STYLE="letter-spacing: 0.05pt"> </FONT>in
t<FONT STYLE="letter-spacing: 0.05pt">h</FONT>e Plan Docu<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">During the year ended December 31,
2014, the PAC adopted the following amendment:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 44pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Plan was amended to automatically
vest a participant who was terminated as a result of the sale of Enbridge Gathering (North Texas) L.P. during the year ended December
31, 2014. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">There were no amendments to the Plan
during the year ended December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>Contributio<FONT STYLE="letter-spacing: -0.05pt">n</FONT>s</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">All <FONT STYLE="letter-spacing: 0.05pt">
</FONT>contribu<FONT STYLE="letter-spacing: -0.05pt">t</FONT>ions<FONT STYLE="letter-spacing: 2.35pt"> </FONT>made<FONT STYLE="letter-spacing: 2.7pt">
</FONT>to <FONT STYLE="letter-spacing: 0.1pt"> </FONT>the <FONT STYLE="letter-spacing: 0.05pt"> </FONT>Plan are <FONT STYLE="letter-spacing: 0.05pt">
</FONT>invested<FONT STYLE="letter-spacing: 2.6pt"> </FONT>by <FONT STYLE="letter-spacing: 0.2pt"> </FONT>the <FONT STYLE="letter-spacing: 0.05pt">
</FONT>Trustee<FONT STYLE="letter-spacing: 2.6pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">a</FONT>s <FONT STYLE="letter-spacing: 0.1pt">
</FONT>they <FONT STYLE="letter-spacing: 0.1pt"> </FONT>are <FONT STYLE="letter-spacing: 0.05pt"> </FONT>re<FONT STYLE="letter-spacing: 0.05pt">c</FONT>eived<FONT STYLE="letter-spacing: 2.6pt">
</FONT><FONT STYLE="letter-spacing: 0.05pt">f</FONT>rom<FONT STYLE="letter-spacing: 2.75pt"> </FONT>the C<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>an<FONT STYLE="letter-spacing: 0.1pt">y</FONT>.<FONT STYLE="letter-spacing: 2.75pt">
</FONT><FONT STYLE="letter-spacing: -0.05pt">P</FONT>articipants<FONT STYLE="letter-spacing: -0.25pt"> </FONT>are<FONT STYLE="letter-spacing: 0.1pt">
</FONT>entitled<FONT STYLE="letter-spacing: -0.1pt"> </FONT>to<FONT STYLE="letter-spacing: 0.1pt"> </FONT>make pre-tax<FONT STYLE="letter-spacing: -0.1pt">
</FONT>and<FONT STYLE="letter-spacing: 0.1pt"> </FONT>after<FONT STYLE="letter-spacing: 0.05pt"> </FONT>tax<FONT STYLE="letter-spacing: 0.1pt">
</FONT>contribut<FONT STYLE="letter-spacing: -0.05pt">i</FONT>ons<FONT STYLE="letter-spacing: -0.4pt"> </FONT>to<FONT STYLE="letter-spacing: 0.15pt">
</FONT>the<FONT STYLE="letter-spacing: 0.1pt"> </FONT>Plan by<FONT STYLE="letter-spacing: 0.15pt"> </FONT>electing to<FONT STYLE="letter-spacing: 0.05pt">
</FONT>contribute<FONT STYLE="letter-spacing: -0.3pt"> </FONT>a<FONT STYLE="letter-spacing: 0.1pt"> </FONT>specified<FONT STYLE="letter-spacing: -0.25pt">
</FONT>p<FONT STYLE="letter-spacing: 0.05pt">e</FONT>rcentage<FONT STYLE="letter-spacing: -0.35pt"> </FONT>of<FONT STYLE="letter-spacing: 0.05pt">
</FONT>their<FONT STYLE="letter-spacing: -0.05pt"> </FONT>c<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>e<FONT STYLE="letter-spacing: 0.05pt">n</FONT>s<FONT STYLE="letter-spacing: 0.05pt">a</FONT>tion,<FONT STYLE="letter-spacing: -0.5pt">
</FONT>up<FONT STYLE="letter-spacing: 0.05pt"> </FONT>to 50%,<FONT STYLE="letter-spacing: -0.1pt"> </FONT>but in<FONT STYLE="letter-spacing: 0.1pt">
</FONT>no<FONT STYLE="letter-spacing: -0.05pt"> </FONT>event<FONT STYLE="letter-spacing: -0.1pt"> </FONT>in<FONT STYLE="letter-spacing: 0.05pt">
</FONT>excess of<FONT STYLE="letter-spacing: 0.05pt"> </FONT>the statutory<FONT STYLE="letter-spacing: 0.15pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">a</FONT>xi<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.1pt">u</FONT>m<FONT STYLE="letter-spacing: 0.05pt">
</FONT>contributi<FONT STYLE="letter-spacing: -0.05pt">o</FONT>n a<FONT STYLE="letter-spacing: -0.1pt">m</FONT>o<FONT STYLE="letter-spacing: 0.1pt">u</FONT>nt,<FONT STYLE="letter-spacing: 0.2pt">
</FONT>which f<FONT STYLE="letter-spacing: -0.05pt">o</FONT>r 2014 was $17<FONT STYLE="letter-spacing: -0.05pt">,5</FONT>00.<FONT STYLE="letter-spacing: 0.05pt">
</FONT>F<FONT STYLE="letter-spacing: -0.05pt">o</FONT>r 2014 the statuto<FONT STYLE="letter-spacing: -0.05pt">r</FONT>y max<FONT STYLE="letter-spacing: 0.05pt">i</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.1pt">u</FONT>m<FONT STYLE="letter-spacing: -0.1pt">
</FONT>amount can<FONT STYLE="letter-spacing: 0.15pt"> </FONT>be <FONT STYLE="letter-spacing: -0.05pt">i</FONT><FONT STYLE="letter-spacing: 0.05pt">n</FONT>creased<FONT STYLE="letter-spacing: -0.05pt">
</FONT>by <FONT STYLE="letter-spacing: -0.05pt">t</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>e &ldquo;catch-up&rdquo;<FONT STYLE="letter-spacing: -0.1pt">
</FONT>contribut<FONT STYLE="letter-spacing: -0.05pt">i</FONT>on a<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ount<FONT STYLE="letter-spacing: 0.05pt">
</FONT>of $5,500<FONT STYLE="letter-spacing: 0.1pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">f</FONT><FONT STYLE="letter-spacing: 0.05pt">o</FONT>r
anyone<FONT STYLE="letter-spacing: 0.1pt"> </FONT>who attained<FONT STYLE="letter-spacing: -0.35pt"> </FONT>age 50<FONT STYLE="letter-spacing: -0.1pt">
</FONT>or<FONT STYLE="letter-spacing: -0.1pt"> </FONT>older<FONT STYLE="letter-spacing: -0.25pt"> </FONT>during<FONT STYLE="letter-spacing: -0.3pt">
</FONT>the <FONT STYLE="letter-spacing: 0.1pt">y</FONT>ear.<FONT STYLE="letter-spacing: 2.6pt"> </FONT>Participants<FONT STYLE="letter-spacing: -0.5pt">
</FONT>may<FONT STYLE="letter-spacing: -0.1pt"> </FONT>designate<FONT STYLE="letter-spacing: -0.4pt"> </FONT>a<FONT STYLE="letter-spacing: -0.05pt">
</FONT>portion<FONT STYLE="letter-spacing: -0.3pt"> </FONT>of their deferral<FONT STYLE="letter-spacing: -0.35pt"> </FONT>as<FONT STYLE="letter-spacing: -0.1pt">
</FONT>Roth contribut<FONT STYLE="letter-spacing: -0.05pt">i</FONT>ons, which<FONT STYLE="letter-spacing: -0.25pt"> </FONT>are<FONT STYLE="letter-spacing: -0.05pt">
</FONT>made<FONT STYLE="letter-spacing: -0.3pt"> </FONT>with after-tax<FONT STYLE="letter-spacing: -0.35pt"> </FONT>dollars.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Enbridge<FONT STYLE="letter-spacing: -0.55pt">
</FONT>Employee<FONT STYLE="letter-spacing: -0.6pt"> </FONT>Services,<FONT STYLE="letter-spacing: -0.5pt"> </FONT>Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Employees&rsquo;
Savings<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Notes
to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Financial<FONT STYLE="letter-spacing: -0.55pt"> </FONT>Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>December<FONT STYLE="letter-spacing: -0.6pt">
</FONT>31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014<FONT STYLE="letter-spacing: -0.3pt"> </FONT>and<FONT STYLE="letter-spacing: -0.25pt">
</FONT>2013</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">Participant<FONT STYLE="letter-spacing: -0.3pt">
</FONT>contributions<FONT STYLE="letter-spacing: -0.4pt"> </FONT>are<FONT STYLE="letter-spacing: 0.05pt"> </FONT>invested<FONT STYLE="letter-spacing: -0.15pt">
</FONT>at<FONT STYLE="letter-spacing: 0.1pt"> </FONT>the<FONT STYLE="letter-spacing: 0.05pt"> </FONT>discretion<FONT STYLE="letter-spacing: -0.3pt">
</FONT>of<FONT STYLE="letter-spacing: 0.1pt"> </FONT>each participant<FONT STYLE="letter-spacing: -0.25pt"> </FONT>in<FONT STYLE="letter-spacing: 0.05pt">
</FONT>one<FONT STYLE="letter-spacing: 0.05pt"> </FONT>or<FONT STYLE="letter-spacing: 0.1pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">o</FONT>re<FONT STYLE="letter-spacing: -0.05pt">
</FONT>of<FONT STYLE="letter-spacing: 0.1pt"> </FONT>the<FONT STYLE="letter-spacing: 0.05pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.05pt">&rsquo;</FONT>s
inves<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent<FONT STYLE="letter-spacing: 2.1pt">
</FONT>options. If a participant fails to make an investment election, contributions are invested in the age-based retirement fund
that corresponds to the participant&rsquo;s age. Eligible<FONT STYLE="letter-spacing: 2.25pt"> </FONT>e<FONT STYLE="letter-spacing: -0.1pt">m</FONT>plo<FONT STYLE="letter-spacing: 0.1pt">y</FONT>ees<FONT STYLE="letter-spacing: 2.15pt">
</FONT>participate<FONT STYLE="letter-spacing: 2.2pt"> </FONT>in<FONT STYLE="letter-spacing: 2.5pt"> </FONT>the<FONT STYLE="letter-spacing: 2.45pt">
</FONT>Plan<FONT STYLE="letter-spacing: 2.4pt"> </FONT>either through<FONT STYLE="letter-spacing: 2.25pt"> </FONT>self-elect<FONT STYLE="letter-spacing: 0.05pt">i</FONT>on
of<FONT STYLE="letter-spacing: 2.5pt"> </FONT>a deferral percentage<FONT STYLE="letter-spacing: 0.1pt"> </FONT>or thr<FONT STYLE="letter-spacing: -0.05pt">o</FONT>ugh
au<FONT STYLE="letter-spacing: -0.05pt">t</FONT><FONT STYLE="letter-spacing: 0.05pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>atic
enrollment<FONT STYLE="letter-spacing: 0.1pt"> </FONT>into the Plan at a 5% deferral, provided<FONT STYLE="letter-spacing: 0.1pt">
</FONT>that the<FONT STYLE="letter-spacing: 0.05pt"> e</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>plo<FONT STYLE="letter-spacing: 0.1pt">y</FONT>ee
did not opt out of such electi<FONT STYLE="letter-spacing: 0.1pt">o</FONT>n<FONT STYLE="letter-spacing: 0.1pt"> </FONT>as specified<FONT STYLE="letter-spacing: 0.1pt">
</FONT>in the Plan document. Such deferral<FONT STYLE="letter-spacing: 0.1pt"> </FONT>e<FONT STYLE="letter-spacing: 0.05pt">l</FONT>ections
represent a portion of participant<FONT STYLE="letter-spacing: 0.05pt">s</FONT>' <FONT STYLE="letter-spacing: 0.05pt">s</FONT>alary
that would otherwise<FONT STYLE="letter-spacing: 0.1pt"> </FONT>be pa<FONT STYLE="letter-spacing: 0.1pt">y</FONT>able to participants.
All matching<FONT STYLE="letter-spacing: -0.1pt"> </FONT>contributions<FONT STYLE="letter-spacing: -0.3pt"> </FONT>are <FONT STYLE="letter-spacing: -0.1pt">m</FONT>ade<FONT STYLE="letter-spacing: 0.05pt">
</FONT>to the Trustee<FONT STYLE="letter-spacing: -0.05pt"> </FONT>in c<FONT STYLE="letter-spacing: 0.05pt">a</FONT>sh,<FONT STYLE="letter-spacing: 0.1pt">
</FONT>which<FONT STYLE="letter-spacing: 0.05pt"> </FONT>is used<FONT STYLE="letter-spacing: 0.1pt"> </FONT>to purchase<FONT STYLE="letter-spacing: -0.1pt">
</FONT>sha<FONT STYLE="letter-spacing: 0.05pt">r</FONT>es of Enbridge Inc. c<FONT STYLE="letter-spacing: 0.1pt">o</FONT>m<FONT STYLE="letter-spacing: -0.1pt">m</FONT>on<FONT STYLE="letter-spacing: 0.1pt">
</FONT>stock that a<FONT STYLE="letter-spacing: 0.05pt">r</FONT>e publicly traded on the open <FONT STYLE="letter-spacing: -0.1pt">m</FONT>arket.
<FONT STYLE="letter-spacing: 0.05pt">P</FONT>articipants may elect to transfer<FONT STYLE="letter-spacing: 0.1pt"> </FONT>all purchased<FONT STYLE="letter-spacing: 0.05pt">
</FONT>shares of Enbridge<FONT STYLE="letter-spacing: 0.1pt"> </FONT>Inc. c<FONT STYLE="letter-spacing: 0.1pt">o</FONT>m<FONT STYLE="letter-spacing: -0.1pt">m</FONT>on
stock to any other inves<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent fu<FONT STYLE="letter-spacing: 0.1pt">n</FONT>d
available<FONT STYLE="letter-spacing: 0.1pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">w</FONT>ithin the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 0.25pt">
</FONT>Co<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>a<FONT STYLE="letter-spacing: 0.1pt">n</FONT>y<FONT STYLE="letter-spacing: -0.05pt">
</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>atching a<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ount<FONT STYLE="letter-spacing: 0.05pt">
</FONT>shall<FONT STYLE="letter-spacing: 0.2pt"> </FONT>be<FONT STYLE="letter-spacing: 0.3pt"> </FONT>equal<FONT STYLE="letter-spacing: 0.15pt">
</FONT>to<FONT STYLE="letter-spacing: 0.3pt"> </FONT>1<FONT STYLE="letter-spacing: -0.05pt">0</FONT>0%<FONT STYLE="letter-spacing: 0.05pt">
</FONT>of<FONT STYLE="letter-spacing: 0.3pt"> </FONT>the<FONT STYLE="letter-spacing: 0.25pt"> </FONT>s<FONT STYLE="letter-spacing: -0.05pt">u</FONT>m<FONT STYLE="letter-spacing: 0.1pt">
</FONT>of<FONT STYLE="letter-spacing: 0.3pt"> </FONT>the<FONT STYLE="letter-spacing: 0.25pt"> </FONT>participant<FONT STYLE="letter-spacing: -0.05pt">'</FONT>s<FONT STYLE="letter-spacing: -0.15pt">
</FONT>401(k)<FONT STYLE="letter-spacing: 0.1pt"> </FONT>pre-tax contribut<FONT STYLE="letter-spacing: -0.05pt">i</FONT>on<FONT STYLE="letter-spacing: 2pt">
</FONT>and<FONT STYLE="letter-spacing: 2.45pt"> </FONT>Roth<FONT STYLE="letter-spacing: 2.4pt"> </FONT>contribut<FONT STYLE="letter-spacing: -0.05pt">i</FONT>on,<FONT STYLE="letter-spacing: 2.05pt">
</FONT>l<FONT STYLE="letter-spacing: -0.05pt">i</FONT>mited<FONT STYLE="letter-spacing: 2.3pt"> </FONT>to<FONT STYLE="letter-spacing: 2.5pt">
</FONT>a maxi<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.1pt">u</FONT>m allowable percentage of<FONT STYLE="letter-spacing: 2.5pt">
</FONT>5%<FONT STYLE="letter-spacing: 2.45pt"> </FONT>of<FONT STYLE="letter-spacing: 2.5pt"> </FONT>their credited<FONT STYLE="letter-spacing: 0.25pt">
</FONT>c<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.1pt">p</FONT>ensation.
Additionally, each par<FONT STYLE="letter-spacing: 0.05pt">t</FONT>i<FONT STYLE="letter-spacing: -0.05pt">c</FONT>ipant<FONT STYLE="letter-spacing: 0.1pt">
</FONT>who is eligible<FONT STYLE="letter-spacing: 0.25pt"> </FONT>to <FONT STYLE="letter-spacing: -0.1pt">m</FONT>ake <FONT STYLE="letter-spacing: 0.05pt">&ldquo;</FONT>catch-up&rdquo;
contributions may<FONT STYLE="letter-spacing: 0.2pt"> </FONT>also<FONT STYLE="letter-spacing: 0.1pt"> </FONT>el<FONT STYLE="letter-spacing: 0.05pt">ec</FONT>t<FONT STYLE="letter-spacing: 0.1pt">
</FONT>to<FONT STYLE="letter-spacing: 0.2pt"> </FONT>have<FONT STYLE="letter-spacing: 0.1pt"> </FONT>all<FONT STYLE="letter-spacing: 0.2pt">
</FONT><FONT STYLE="letter-spacing: 0.1pt">o</FONT>r<FONT STYLE="letter-spacing: 0.2pt"> </FONT>any<FONT STYLE="letter-spacing: 0.25pt">
</FONT>po<FONT STYLE="letter-spacing: -0.05pt">r</FONT>tion<FONT STYLE="letter-spacing: -0.05pt"> </FONT>of<FONT STYLE="letter-spacing: 0.2pt">
</FONT>such<FONT STYLE="letter-spacing: 0.1pt"> </FONT>&ldquo;ca<FONT STYLE="letter-spacing: 0.05pt">tch</FONT>-up&rdquo; contributions
designated<FONT STYLE="letter-spacing: -0.15pt"> </FONT>as pre-tax or Roth &ldquo;catch<FONT STYLE="letter-spacing: 0.05pt">-</FONT>up&rdquo;<FONT STYLE="letter-spacing: 0.1pt">
</FONT>contributions. Lastl<FONT STYLE="letter-spacing: 0.1pt">y</FONT>,<FONT STYLE="letter-spacing: 0.3pt"> </FONT>the Trustee<FONT STYLE="letter-spacing: 0.25pt">
</FONT>will accept<FONT STYLE="letter-spacing: 0.3pt"> </FONT>rollover<FONT STYLE="letter-spacing: 0.25pt"> </FONT>contributions
fr<FONT STYLE="letter-spacing: 0.1pt">o</FONT>m<FONT STYLE="letter-spacing: 0.25pt"> </FONT>a participant who is entitled to receive
a distrib<FONT STYLE="letter-spacing: -0.05pt">u</FONT>tion from a desi<FONT STYLE="letter-spacing: 0.1pt">g</FONT><FONT STYLE="letter-spacing: 0.05pt">n</FONT>ated
pre-tax or Roth deferral acco<FONT STYLE="letter-spacing: 0.1pt">u</FONT><FONT STYLE="letter-spacing: 0.05pt">n</FONT>t under another
quali<FONT STYLE="letter-spacing: -0.05pt">f</FONT>ied savings plan contributions program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>Vesting</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><FONT STYLE="letter-spacing: 0.05pt">E</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>plo<FONT STYLE="letter-spacing: 0.1pt">y</FONT>er<FONT STYLE="letter-spacing: 1.8pt">
</FONT>matching<FONT STYLE="letter-spacing: 1.85pt"> </FONT>contributions<FONT STYLE="letter-spacing: 1.65pt"> </FONT>are<FONT STYLE="letter-spacing: 2.15pt">
</FONT>fully<FONT STYLE="letter-spacing: 2.1pt"> </FONT>vested<FONT STYLE="letter-spacing: 1.95pt"> </FONT>after<FONT STYLE="letter-spacing: 2.05pt">
</FONT>the<FONT STYLE="letter-spacing: 2.1pt"> </FONT>c<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">pl</FONT>etion<FONT STYLE="letter-spacing: 1.75pt">
</FONT>of<FONT STYLE="letter-spacing: 2.15pt"> </FONT>three<FONT STYLE="letter-spacing: 2.05pt"> </FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT>ears<FONT STYLE="letter-spacing: 2pt">
</FONT>of<FONT STYLE="letter-spacing: 2.15pt"> </FONT>service.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>Participant<FONT STYLE="letter-spacing: -0.5pt">
</FONT><FONT STYLE="letter-spacing: -0.05pt">A</FONT>ccounts</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 0.45pt">
</FONT>a<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ount<FONT STYLE="letter-spacing: 0.25pt"> </FONT>contributed<FONT STYLE="letter-spacing: 0.1pt">
</FONT>by<FONT STYLE="letter-spacing: 0.6pt"> </FONT>a<FONT STYLE="letter-spacing: 0.55pt"> </FONT>participant<FONT STYLE="letter-spacing: 0.15pt">
</FONT>is<FONT STYLE="letter-spacing: 0.55pt"> </FONT>allocated<FONT STYLE="letter-spacing: 0.3pt"> </FONT>to<FONT STYLE="letter-spacing: 0.5pt">
</FONT>the<FONT STYLE="letter-spacing: 0.45pt"> </FONT>participant<FONT STYLE="letter-spacing: 0.05pt">&rsquo;</FONT>s<FONT STYLE="letter-spacing: 0.05pt">
</FONT>pre-tax<FONT STYLE="letter-spacing: 0.3pt"> </FONT>contribution account or<FONT STYLE="letter-spacing: 0.45pt"> </FONT>Roth<FONT STYLE="letter-spacing: 0.3pt">
</FONT>cont<FONT STYLE="letter-spacing: -0.05pt">r</FONT>ibuti<FONT STYLE="letter-spacing: -0.05pt">o</FONT>n account<FONT STYLE="letter-spacing: 0.2pt">
</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>aintained<FONT STYLE="letter-spacing: 0.15pt"> </FONT>under<FONT STYLE="letter-spacing: 0.3pt">
</FONT>the<FONT STYLE="letter-spacing: 0.4pt"> </FONT>P<FONT STYLE="letter-spacing: -0.05pt">l</FONT>an<FONT STYLE="letter-spacing: 0.35pt">
</FONT>as<FONT STYLE="letter-spacing: 0.45pt"> </FONT>of<FONT STYLE="letter-spacing: 0.45pt"> </FONT>the<FONT STYLE="letter-spacing: 0.4pt">
</FONT><FONT STYLE="letter-spacing: -0.05pt">d</FONT>ate<FONT STYLE="letter-spacing: 0.35pt"> </FONT>during<FONT STYLE="letter-spacing: 0.25pt">
</FONT>t<FONT STYLE="letter-spacing: -0.05pt">h</FONT>e<FONT STYLE="letter-spacing: 0.4pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.35pt">
</FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT>ear<FONT STYLE="letter-spacing: 0.35pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">o</FONT>n<FONT STYLE="letter-spacing: 0.5pt">
</FONT>which the<FONT STYLE="letter-spacing: 0.7pt"> </FONT>a<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ount<FONT STYLE="letter-spacing: 0.5pt">
</FONT>is deducted<FONT STYLE="letter-spacing: 0.45pt"> </FONT>and<FONT STYLE="letter-spacing: 0.7pt"> </FONT>withheld<FONT STYLE="letter-spacing: 0.45pt">
</FONT>from the<FONT STYLE="letter-spacing: 0.7pt"> </FONT>participant&rsquo;s<FONT STYLE="letter-spacing: 0.3pt"> </FONT>credited<FONT STYLE="letter-spacing: 0.5pt">
</FONT>c<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>ensa<FONT STYLE="letter-spacing: 0.05pt">t</FONT>ion,<FONT STYLE="letter-spacing: 0.2pt">
</FONT>but<FONT STYLE="letter-spacing: 0.7pt"> </FONT>for<FONT STYLE="letter-spacing: 0.7pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">p</FONT><FONT STYLE="letter-spacing: 0.05pt">u</FONT>rposes
of<FONT STYLE="letter-spacing: 0.55pt"> </FONT>allocating<FONT STYLE="letter-spacing: 0.2pt"> </FONT>income<FONT STYLE="letter-spacing: 0.3pt">
</FONT>or<FONT STYLE="letter-spacing: 0.55pt"> </FONT>losses,<FONT STYLE="letter-spacing: 0.35pt"> </FONT>the<FONT STYLE="letter-spacing: 0.5pt">
</FONT>p<FONT STYLE="letter-spacing: 0.05pt">r</FONT>e<FONT STYLE="letter-spacing: 0.05pt">-</FONT>tax<FONT STYLE="letter-spacing: 0.3pt">
</FONT>contribu<FONT STYLE="letter-spacing: -0.05pt">t</FONT>ions<FONT STYLE="letter-spacing: 0.05pt"> </FONT>or<FONT STYLE="letter-spacing: 0.55pt">
</FONT>Roth<FONT STYLE="letter-spacing: 0.35pt"> </FONT>contributions are<FONT STYLE="letter-spacing: 0.5pt"> </FONT>c<FONT STYLE="letter-spacing: 0.05pt">r</FONT>edited<FONT STYLE="letter-spacing: 0.4pt">
</FONT>as<FONT STYLE="letter-spacing: 0.55pt"> </FONT>of<FONT STYLE="letter-spacing: 0.55pt"> </FONT>the date received by the Trust<FONT STYLE="letter-spacing: -0.05pt">e</FONT>e.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>Forfeited<FONT STYLE="letter-spacing: -0.4pt">
</FONT>A<FONT STYLE="letter-spacing: 0.05pt">c</FONT>counts</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 0.6pt">
</FONT>non-vested<FONT STYLE="letter-spacing: 0.25pt"> </FONT>portion<FONT STYLE="letter-spacing: 0.45pt"> </FONT>of<FONT STYLE="letter-spacing: 0.55pt">
</FONT>the<FONT STYLE="letter-spacing: 0.6pt"> </FONT>participant<FONT STYLE="letter-spacing: 0.05pt">&rsquo;</FONT>s<FONT STYLE="letter-spacing: 0.2pt">
</FONT>accounts<FONT STYLE="letter-spacing: 0.35pt"> </FONT>sh<FONT STYLE="letter-spacing: 0.05pt">a</FONT>ll<FONT STYLE="letter-spacing: 0.55pt">
</FONT>bec<FONT STYLE="letter-spacing: 0.1pt">o</FONT>me<FONT STYLE="letter-spacing: 0.4pt"> </FONT>a<FONT STYLE="letter-spacing: 0.7pt">
</FONT>for<FONT STYLE="letter-spacing: 0.05pt">f</FONT>eiture<FONT STYLE="letter-spacing: 0.35pt"> </FONT>as<FONT STYLE="letter-spacing: 0.65pt">
</FONT>of<FONT STYLE="letter-spacing: 0.65pt"> </FONT>the<FONT STYLE="letter-spacing: 0.6pt"> </FONT>ea<FONT STYLE="letter-spacing: 0.05pt">r</FONT>lier<FONT STYLE="letter-spacing: 0.45pt">
</FONT>of<FONT STYLE="letter-spacing: 0.65pt"> </FONT>(i) the<FONT STYLE="letter-spacing: 0.4pt"> </FONT>date<FONT STYLE="letter-spacing: 0.35pt">
</FONT>of<FONT STYLE="letter-spacing: 0.45pt"> </FONT>d<FONT STYLE="letter-spacing: -0.05pt">i</FONT>stribution of<FONT STYLE="letter-spacing: 0.45pt">
</FONT><FONT STYLE="letter-spacing: -0.05pt">t</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>e<FONT STYLE="letter-spacing: 0.4pt">
</FONT>participant&rsquo;s vested<FONT STYLE="letter-spacing: 0.25pt"> </FONT>accounts,<FONT STYLE="letter-spacing: 0.15pt"> </FONT>or<FONT STYLE="letter-spacing: 0.4pt">
</FONT>(ii)<FONT STYLE="letter-spacing: 0.35pt"> </FONT>the<FONT STYLE="letter-spacing: 0.4pt"> </FONT>date<FONT STYLE="letter-spacing: 0.35pt">
</FONT>the<FONT STYLE="letter-spacing: 0.4pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">p</FONT>articipant<FONT STYLE="letter-spacing: 0.1pt">
</FONT>incurs<FONT STYLE="letter-spacing: 0.3pt"> </FONT>five consecutive<FONT STYLE="letter-spacing: 1.5pt"> </FONT>one<FONT STYLE="letter-spacing: -0.05pt">-</FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT>ear
per<FONT STYLE="letter-spacing: 0.05pt">i</FONT>ods of seve<FONT STYLE="letter-spacing: 0.05pt">r</FONT>ance. <FONT STYLE="letter-spacing: 0.7pt">
</FONT>As of December<FONT STYLE="letter-spacing: 1.5pt"> </FONT><FONT STYLE="letter-spacing: 0.1pt">3</FONT><FONT STYLE="letter-spacing: 0.05pt">1</FONT>,
2014 and 2013, the Plan had a balance<FONT STYLE="letter-spacing: 0.15pt"> </FONT>of<FONT STYLE="letter-spacing: 0.4pt"> $175 thousand
and </FONT>$14<FONT STYLE="letter-spacing: 0.35pt"> </FONT>thousand,<FONT STYLE="letter-spacing: 0.1pt"> </FONT>respective<FONT STYLE="letter-spacing: -0.05pt">l</FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT>,<FONT STYLE="letter-spacing: -0.05pt">
i</FONT>n<FONT STYLE="letter-spacing: 0.4pt"> </FONT>the<FONT STYLE="letter-spacing: 0.35pt"> </FONT>fo<FONT STYLE="letter-spacing: -0.05pt">r</FONT>feited<FONT STYLE="letter-spacing: 0.1pt">
</FONT>non-v<FONT STYLE="letter-spacing: -0.05pt">e</FONT>sted accounts. <FONT STYLE="letter-spacing: 0.6pt"> </FONT>During 2014
and 2013,<FONT STYLE="letter-spacing: 0.3pt"> </FONT>there<FONT STYLE="letter-spacing: 0.3pt"> </FONT>were<FONT STYLE="letter-spacing: 0.3pt">
</FONT>withdrawals of<FONT STYLE="letter-spacing: 0.45pt"> </FONT>$204<FONT STYLE="letter-spacing: 0.3pt"> </FONT>thousand,<FONT STYLE="letter-spacing: 0.15pt">
and $234 thousand, respectively, </FONT>f<FONT STYLE="letter-spacing: -0.05pt">r</FONT>om<FONT STYLE="letter-spacing: 0.2pt"> </FONT>the<FONT STYLE="letter-spacing: 0.4pt">
</FONT>forfeited<FONT STYLE="letter-spacing: 0.15pt"> </FONT>accounts<FONT STYLE="letter-spacing: 0.15pt"> </FONT>to<FONT STYLE="letter-spacing: 0.45pt">
</FONT>reduce<FONT STYLE="letter-spacing: 0.25pt"> </FONT>Com<FONT STYLE="letter-spacing: 0.05pt">p</FONT>any contribut<FONT STYLE="letter-spacing: -0.05pt">i</FONT>ons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>Plan<FONT STYLE="letter-spacing: -0.2pt">
</FONT>Termi<FONT STYLE="letter-spacing: 0.05pt">n</FONT>ation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">Although it<FONT STYLE="letter-spacing: 0.3pt">
</FONT><FONT STYLE="letter-spacing: -0.05pt">h</FONT>as<FONT STYLE="letter-spacing: 0.3pt"> </FONT>not<FONT STYLE="letter-spacing: 0.3pt">
</FONT>expressed any<FONT STYLE="letter-spacing: 0.4pt"> </FONT>inte<FONT STYLE="letter-spacing: -0.05pt">n</FONT>tion<FONT STYLE="letter-spacing: 0.05pt">
</FONT>to<FONT STYLE="letter-spacing: 0.35pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">d</FONT>o<FONT STYLE="letter-spacing: 0.3pt">
</FONT>so,<FONT STYLE="letter-spacing: 0.25pt"> </FONT>the<FONT STYLE="letter-spacing: 0.3pt"> </FONT>C<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>a<FONT STYLE="letter-spacing: 0.1pt">n</FONT>y<FONT STYLE="letter-spacing: 0.1pt">
</FONT>has<FONT STYLE="letter-spacing: 0.3pt"> </FONT>the<FONT STYLE="letter-spacing: 0.3pt"> </FONT>ri<FONT STYLE="letter-spacing: -0.05pt">g</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>t<FONT STYLE="letter-spacing: 0.25pt">
</FONT>under<FONT STYLE="letter-spacing: 0.2pt"> </FONT>the<FONT STYLE="letter-spacing: 0.3pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.25pt">
</FONT>to discontinue<FONT STYLE="letter-spacing: -0.35pt"> </FONT>i<FONT STYLE="letter-spacing: -0.05pt">t</FONT>s<FONT STYLE="letter-spacing: 0.05pt">
</FONT>contributi<FONT STYLE="letter-spacing: -0.05pt">on</FONT>s<FONT STYLE="letter-spacing: -0.5pt"> </FONT>at<FONT STYLE="letter-spacing: 0.05pt">
</FONT>any ti<FONT STYLE="letter-spacing: -0.1pt">m</FONT>e and to<FONT STYLE="letter-spacing: 0.05pt"> </FONT>ter<FONT STYLE="letter-spacing: -0.1pt">m</FONT>inate<FONT STYLE="letter-spacing: -0.25pt">
</FONT>the Plan<FONT STYLE="letter-spacing: -0.05pt"> </FONT>subject<FONT STYLE="letter-spacing: -0.15pt"> </FONT>to<FONT STYLE="letter-spacing: 0.05pt">
</FONT>the<FONT STYLE="letter-spacing: -0.05pt"> </FONT>provisions<FONT STYLE="letter-spacing: -0.35pt"> </FONT>of ERISA. In<FONT STYLE="letter-spacing: 0.45pt">
</FONT>the<FONT STYLE="letter-spacing: 0.4pt"> </FONT>event<FONT STYLE="letter-spacing: 0.35pt"> </FONT>of<FONT STYLE="letter-spacing: 0.45pt">
</FONT>Plan<FONT STYLE="letter-spacing: 0.35pt"> </FONT>te<FONT STYLE="letter-spacing: 0.05pt">r</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">in</FONT>ation,
the<FONT STYLE="letter-spacing: 0.4pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.35pt"> </FONT>a<FONT STYLE="letter-spacing: 0.05pt">s</FONT>sets<FONT STYLE="letter-spacing: 0.35pt">
</FONT>will<FONT STYLE="letter-spacing: 0.35pt"> </FONT>be<FONT STYLE="letter-spacing: 0.45pt"> </FONT>valued<FONT STYLE="letter-spacing: 0.25pt">
</FONT>as<FONT STYLE="letter-spacing: 0.45pt"> </FONT>of<FONT STYLE="letter-spacing: 0.45pt"> </FONT>the<FONT STYLE="letter-spacing: 0.4pt">
</FONT>date<FONT STYLE="letter-spacing: 0.35pt"> </FONT><FONT STYLE="letter-spacing: 0.1pt">o</FONT>f<FONT STYLE="letter-spacing: 0.45pt">
</FONT>such<FONT STYLE="letter-spacing: 0.35pt"> </FONT>termi<FONT STYLE="letter-spacing: 0.1pt">n</FONT>ation<FONT STYLE="letter-spacing: 0.05pt">
</FONT>or discontinuan<FONT STYLE="letter-spacing: -0.05pt">c</FONT>e,<FONT STYLE="letter-spacing: 2.4pt"> </FONT>and after crediting
any increase or charging any<FONT STYLE="letter-spacing: 0.25pt"> </FONT>decrease <FONT STYLE="letter-spacing: 0.05pt">t</FONT>o
all<FONT STYLE="letter-spacing: 0.25pt"> </FONT>accounts then existing, the Trustee<FONT STYLE="letter-spacing: -0.35pt"> </FONT>shall<FONT STYLE="letter-spacing: -0.1pt">
</FONT>distribute to<FONT STYLE="letter-spacing: -0.1pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">e</FONT>ach participant
the<FONT STYLE="letter-spacing: -0.15pt"> </FONT>full<FONT STYLE="letter-spacing: -0.15pt"> </FONT>amount of<FONT STYLE="letter-spacing: -0.1pt">
</FONT>each participant<FONT STYLE="letter-spacing: 0.05pt">&rsquo;</FONT>s account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Enbridge<FONT STYLE="letter-spacing: -0.55pt">
</FONT>Employee<FONT STYLE="letter-spacing: -0.6pt"> </FONT>Services,<FONT STYLE="letter-spacing: -0.5pt"> </FONT>Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Employees&rsquo;
Savings<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Notes
to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Financial<FONT STYLE="letter-spacing: -0.55pt"> </FONT>Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>December<FONT STYLE="letter-spacing: -0.6pt">
</FONT>31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014<FONT STYLE="letter-spacing: -0.3pt"> </FONT>and<FONT STYLE="letter-spacing: -0.25pt">
</FONT>2013</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>Notes<FONT STYLE="letter-spacing: -0.25pt">
</FONT>R<FONT STYLE="letter-spacing: 0.05pt">e</FONT>cei<FONT STYLE="letter-spacing: 0.05pt">v</FONT>able<FONT STYLE="letter-spacing: -0.5pt">
</FONT>From<FONT STYLE="letter-spacing: -0.25pt"> </FONT>Participants</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 0.35pt">
</FONT>Plan<FONT STYLE="letter-spacing: 0.35pt"> </FONT>allows<FONT STYLE="letter-spacing: 0.25pt"> </FONT>participa<FONT STYLE="letter-spacing: 0.1pt">n</FONT>ts
to<FONT STYLE="letter-spacing: 0.45pt"> </FONT>borrow<FONT STYLE="letter-spacing: 0.1pt"> </FONT>from<FONT STYLE="letter-spacing: 0.2pt">
</FONT>t<FONT STYLE="letter-spacing: 0.05pt">h</FONT>eir<FONT STYLE="letter-spacing: 0.35pt"> </FONT>f<FONT STYLE="letter-spacing: 0.1pt">u</FONT>nd<FONT STYLE="letter-spacing: 0.35pt">
</FONT>accounts, a<FONT STYLE="letter-spacing: 0.55pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ini<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.1pt">u</FONT>m
<FONT STYLE="letter-spacing: 0.1pt">o</FONT>f<FONT STYLE="letter-spacing: 0.4pt"> </FONT>$1<FONT STYLE="letter-spacing: 0.4pt">
</FONT>t<FONT STYLE="letter-spacing: -0.05pt">h</FONT>ousand<FONT STYLE="letter-spacing: 0.1pt"> </FONT>up<FONT STYLE="letter-spacing: 0.4pt">
</FONT>to<FONT STYLE="letter-spacing: 0.45pt"> </FONT>a max<FONT STYLE="letter-spacing: 0.05pt">i</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.1pt">u</FONT>m<FONT STYLE="letter-spacing: 0.4pt">
</FONT>of<FONT STYLE="letter-spacing: 0.8pt"> </FONT>$50<FONT STYLE="letter-spacing: 0.7pt"> </FONT>thousand<FONT STYLE="letter-spacing: 0.45pt">
</FONT>or<FONT STYLE="letter-spacing: 0.75pt"> </FONT>50%<FONT STYLE="letter-spacing: 0.65pt"> </FONT>of<FONT STYLE="letter-spacing: 0.75pt">
</FONT>their<FONT STYLE="letter-spacing: 0.65pt"> vested </FONT>account<FONT STYLE="letter-spacing: 0.5pt"> </FONT>balance,<FONT STYLE="letter-spacing: 0.5pt">
</FONT>whichever<FONT STYLE="letter-spacing: 0.4pt"> </FONT>is<FONT STYLE="letter-spacing: 0.8pt"> </FONT>less. The<FONT STYLE="letter-spacing: 0.75pt">
</FONT>max<FONT STYLE="letter-spacing: 0.05pt">i</FONT>mum loan a<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ount<FONT STYLE="letter-spacing: 0.05pt">
</FONT>is<FONT STYLE="letter-spacing: 0.35pt"> </FONT>re<FONT STYLE="letter-spacing: 0.1pt">d</FONT><FONT STYLE="letter-spacing: 0.05pt">u</FONT>ced<FONT STYLE="letter-spacing: 0.05pt">
</FONT>by<FONT STYLE="letter-spacing: 0.35pt"> </FONT>the<FONT STYLE="letter-spacing: 0.25pt"> </FONT>excess<FONT STYLE="letter-spacing: 0.1pt">
</FONT>of the<FONT STYLE="letter-spacing: 0.25pt"> </FONT><FONT STYLE="letter-spacing: 0.1pt">h</FONT>ighest<FONT STYLE="letter-spacing: 0.1pt">
</FONT>ou<FONT STYLE="letter-spacing: -0.05pt">t</FONT>standing<FONT STYLE="letter-spacing: -0.1pt"> </FONT>balance<FONT STYLE="letter-spacing: 0.1pt">
</FONT>of loans fr<FONT STYLE="letter-spacing: 0.1pt">o</FONT>m<FONT STYLE="letter-spacing: 0.2pt"> </FONT>the<FONT STYLE="letter-spacing: 0.25pt">
</FONT>Plan<FONT STYLE="letter-spacing: 0.2pt"> </FONT>dur<FONT STYLE="letter-spacing: 0.05pt">i</FONT>ng<FONT STYLE="letter-spacing: 0.1pt">
</FONT>the one<FONT STYLE="letter-spacing: -0.05pt">-</FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT>ear period<FONT STYLE="letter-spacing: 0.1pt">
</FONT>end<FONT STYLE="letter-spacing: -0.05pt">i</FONT>ng on<FONT STYLE="letter-spacing: 0.25pt"> </FONT>the<FONT STYLE="letter-spacing: 0.25pt">
</FONT>d<FONT STYLE="letter-spacing: -0.05pt">a</FONT>y<FONT STYLE="letter-spacing: 0.25pt"> </FONT>bef<FONT STYLE="letter-spacing: -0.05pt">o</FONT>re<FONT STYLE="letter-spacing: 0.1pt">
</FONT>the<FONT STYLE="letter-spacing: 0.25pt"> </FONT>date on<FONT STYLE="letter-spacing: 0.25pt"> </FONT>which<FONT STYLE="letter-spacing: 0.1pt">
</FONT>the<FONT STYLE="letter-spacing: 0.2pt"> </FONT>loan was <FONT STYLE="letter-spacing: -0.1pt">m</FONT>a<FONT STYLE="letter-spacing: 0.1pt">d</FONT>e<FONT STYLE="letter-spacing: 0.1pt">
</FONT>over the<FONT STYLE="letter-spacing: 0.2pt"> </FONT>outstanding balance<FONT STYLE="letter-spacing: 0.75pt"> </FONT>of loans
fr<FONT STYLE="letter-spacing: 0.1pt">o</FONT>m<FONT STYLE="letter-spacing: 0.8pt"> </FONT>the Plan on the date on which the loan
was <FONT STYLE="letter-spacing: -0.1pt">m</FONT>ade. A l<FONT STYLE="letter-spacing: 0.1pt">o</FONT>an is secu<FONT STYLE="letter-spacing: 0.05pt">r</FONT>ed<FONT STYLE="letter-spacing: 0.75pt">
</FONT>by the balance<FONT STYLE="letter-spacing: 0.2pt"> </FONT>in<FONT STYLE="letter-spacing: 0.45pt"> </FONT>the<FONT STYLE="letter-spacing: 0.4pt">
</FONT>participant&rsquo;s account<FONT STYLE="letter-spacing: 0.2pt"> </FONT>and<FONT STYLE="letter-spacing: 0.4pt"> </FONT>bears
interest at<FONT STYLE="letter-spacing: 0.45pt"> </FONT>a<FONT STYLE="letter-spacing: 0.5pt"> </FONT>rate<FONT STYLE="letter-spacing: 0.4pt">
</FONT>of<FONT STYLE="letter-spacing: 0.45pt"> </FONT>1%<FONT STYLE="letter-spacing: 0.35pt"> </FONT>above t<FONT STYLE="letter-spacing: -0.05pt">h</FONT>e<FONT STYLE="letter-spacing: 0.4pt">
</FONT>prime rate<FONT STYLE="letter-spacing: 0.45pt"> </FONT>as<FONT STYLE="letter-spacing: 0.45pt"> </FONT>of<FONT STYLE="letter-spacing: 0.45pt">
</FONT>the first<FONT STYLE="letter-spacing: 0.2pt"> </FONT>business day<FONT STYLE="letter-spacing: 0.25pt"> </FONT>of the<FONT STYLE="letter-spacing: 0.25pt">
</FONT>month<FONT STYLE="letter-spacing: 0.1pt"> </FONT>in whi<FONT STYLE="letter-spacing: -0.05pt">c</FONT>h<FONT STYLE="letter-spacing: 0.1pt">
</FONT>the<FONT STYLE="letter-spacing: 0.25pt"> </FONT>loan<FONT STYLE="letter-spacing: 0.2pt"> </FONT>is<FONT STYLE="letter-spacing: 0.25pt">
</FONT>to be<FONT STYLE="letter-spacing: 0.25pt"> </FONT>funded. <FONT STYLE="letter-spacing: 0.65pt"> </FONT>Loans<FONT STYLE="letter-spacing: 0.1pt">
</FONT>are<FONT STYLE="letter-spacing: 0.25pt"> </FONT>to be<FONT STYLE="letter-spacing: 0.25pt"> </FONT>repaid<FONT STYLE="letter-spacing: 0.1pt">
</FONT>by p<FONT STYLE="letter-spacing: -0.05pt">a</FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT><FONT STYLE="letter-spacing: -0.05pt">r</FONT>oll
deduction over<FONT STYLE="letter-spacing: 0.25pt"> </FONT>a<FONT STYLE="letter-spacing: 0.4pt"> </FONT>period not to<FONT STYLE="letter-spacing: 0.25pt">
</FONT>exceed five<FONT STYLE="letter-spacing: 0.25pt"> </FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT>ears<FONT STYLE="letter-spacing: 0.25pt">
</FONT>as<FONT STYLE="letter-spacing: 0.4pt"> </FONT>elec<FONT STYLE="letter-spacing: 0.05pt">te</FONT>d<FONT STYLE="letter-spacing: 0.1pt">
</FONT>by<FONT STYLE="letter-spacing: 0.35pt"> </FONT>the participant. Participants may<FONT STYLE="letter-spacing: 0.4pt"> </FONT>have
<FONT STYLE="letter-spacing: -0.05pt">n</FONT>o<FONT STYLE="letter-spacing: 0.4pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">o</FONT>re<FONT STYLE="letter-spacing: 0.25pt">
</FONT>than<FONT STYLE="letter-spacing: 0.35pt"> </FONT>two<FONT STYLE="letter-spacing: 0.35pt"> </FONT>loans<FONT STYLE="letter-spacing: 0.25pt">
</FONT>outstandi<FONT STYLE="letter-spacing: -0.05pt">n</FONT><FONT STYLE="letter-spacing: 0.05pt">g</FONT>. Upon<FONT STYLE="letter-spacing: 0.25pt">
</FONT>ter<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ination of e<FONT STYLE="letter-spacing: -0.1pt">m</FONT>plo<FONT STYLE="letter-spacing: 0.1pt">y</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent,
a<FONT STYLE="letter-spacing: 0.55pt"> </FONT>participant <FONT STYLE="letter-spacing: -0.1pt">m</FONT>ay<FONT STYLE="letter-spacing: 0.5pt">
</FONT>continue<FONT STYLE="letter-spacing: 0.2pt"> </FONT>to<FONT STYLE="letter-spacing: 0.5pt"> </FONT>repay<FONT STYLE="letter-spacing: 0.4pt">
</FONT>the<FONT STYLE="letter-spacing: 0.45pt"> </FONT>loan<FONT STYLE="letter-spacing: 0.4pt"> </FONT>by<FONT STYLE="letter-spacing: 0.45pt">
</FONT>personal<FONT STYLE="letter-spacing: 0.2pt"> </FONT>check each<FONT STYLE="letter-spacing: 0.45pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">o</FONT><FONT STYLE="letter-spacing: 0.1pt">n</FONT>th.
If<FONT STYLE="letter-spacing: 0.5pt"> </FONT>a participant fails<FONT STYLE="letter-spacing: -0.05pt"> </FONT>to<FONT STYLE="letter-spacing: 0.05pt">
</FONT>repay<FONT STYLE="letter-spacing: -0.05pt"> </FONT>a loan<FONT STYLE="letter-spacing: -0.05pt"> </FONT>according to<FONT STYLE="letter-spacing: 0.05pt">
</FONT>its<FONT STYLE="letter-spacing: 0.05pt"> </FONT>te<FONT STYLE="letter-spacing: 0.05pt">r</FONT><FONT STYLE="letter-spacing: -0.05pt">m</FONT>s,<FONT STYLE="letter-spacing: -0.05pt">
</FONT>the Trustee will decla<FONT STYLE="letter-spacing: 0.05pt">r</FONT>e <FONT STYLE="letter-spacing: 0.05pt">th</FONT>e loan<FONT STYLE="letter-spacing: -0.05pt">
</FONT>in<FONT STYLE="letter-spacing: 0.05pt"> </FONT>de<FONT STYLE="letter-spacing: 0.05pt">f</FONT>ault and, if<FONT STYLE="letter-spacing: 0.55pt">
</FONT>the<FONT STYLE="letter-spacing: 0.45pt"> </FONT>participant is<FONT STYLE="letter-spacing: 0.55pt"> </FONT>entitled<FONT STYLE="letter-spacing: 0.25pt">
</FONT>to<FONT STYLE="letter-spacing: 0.5pt"> </FONT>receive a<FONT STYLE="letter-spacing: 0.65pt"> </FONT>distribution<FONT STYLE="letter-spacing: 0.05pt">
</FONT>from<FONT STYLE="letter-spacing: 0.35pt"> </FONT>the<FONT STYLE="letter-spacing: 0.45pt"> </FONT>P<FONT STYLE="letter-spacing: 0.05pt">l</FONT>an,<FONT STYLE="letter-spacing: 0.4pt">
</FONT>the<FONT STYLE="letter-spacing: 0.45pt"> </FONT>participant will<FONT STYLE="letter-spacing: 0.45pt"> </FONT>be<FONT STYLE="letter-spacing: 0.5pt">
</FONT>considered as receiving a<FONT STYLE="letter-spacing: 0.35pt"> </FONT>distribut<FONT STYLE="letter-spacing: -0.05pt">i</FONT>on
<FONT STYLE="letter-spacing: -0.05pt">i</FONT>n the<FONT STYLE="letter-spacing: 0.25pt"> </FONT>a<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ount<FONT STYLE="letter-spacing: -0.05pt">
</FONT>of the outstanding<FONT STYLE="letter-spacing: -0.1pt"> </FONT>balance<FONT STYLE="letter-spacing: 0.05pt"> </FONT>on <FONT STYLE="letter-spacing: -0.05pt">t</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>e<FONT STYLE="letter-spacing: 0.25pt">
</FONT>loan<FONT STYLE="letter-spacing: 0.2pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">a</FONT>nd,<FONT STYLE="letter-spacing: 0.2pt">
</FONT>if<FONT STYLE="letter-spacing: 0.25pt"> </FONT>the participant is<FONT STYLE="letter-spacing: 0.7pt"> </FONT>not entitled<FONT STYLE="letter-spacing: 0.4pt">
</FONT>to<FONT STYLE="letter-spacing: 0.65pt"> </FONT>a<FONT STYLE="letter-spacing: 0.7pt"> </FONT>distribu<FONT STYLE="letter-spacing: -0.05pt">t</FONT>ion,<FONT STYLE="letter-spacing: 0.2pt">
</FONT>the part<FONT STYLE="letter-spacing: -0.05pt">i</FONT>cipant will receive<FONT STYLE="letter-spacing: 0.45pt"> </FONT>a<FONT STYLE="letter-spacing: 0.7pt">
</FONT>&ldquo;deemed<FONT STYLE="letter-spacing: 0.35pt"> </FONT>distribution&rdquo;<FONT STYLE="letter-spacing: 0.2pt"> </FONT>in<FONT STYLE="letter-spacing: 0.65pt">
</FONT>the <FONT STYLE="letter-spacing: -0.05pt">a</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ount<FONT STYLE="letter-spacing: 0.4pt">
</FONT>of the outstand<FONT STYLE="letter-spacing: -0.05pt">i</FONT>ng<FONT STYLE="letter-spacing: 0.8pt"> </FONT>balance, includi<FONT STYLE="letter-spacing: -0.05pt">n</FONT>g
in<FONT STYLE="letter-spacing: -0.05pt">t</FONT>erest on the loan. The Plan had no material de<FONT STYLE="letter-spacing: 0.05pt">e</FONT>med
distributi<FONT STYLE="letter-spacing: -0.05pt">o</FONT>ns for the <FONT STYLE="letter-spacing: 0.1pt">y</FONT>ear ended Dece<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.1pt">b</FONT>er
31, 2014. The ba<FONT STYLE="letter-spacing: -0.05pt">l</FONT>ance of the dee<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ed distributi<FONT STYLE="letter-spacing: -0.05pt">o</FONT>ns
at December 3<FONT STYLE="letter-spacing: 0.1pt">1</FONT>, 2014<FONT STYLE="letter-spacing: 0.25pt"> </FONT>a<FONT STYLE="letter-spacing: -0.05pt">n</FONT>d
2013<FONT STYLE="letter-spacing: 0.25pt"> </FONT>were<FONT STYLE="letter-spacing: 0.25pt"> $330 thousand and </FONT>$272<FONT STYLE="letter-spacing: 0.25pt">
</FONT>t<FONT STYLE="letter-spacing: -0.05pt">h</FONT>ousand,<FONT STYLE="letter-spacing: 0.05pt"> </FONT>respectivel<FONT STYLE="letter-spacing: 0.1pt">y</FONT>.
<FONT STYLE="letter-spacing: -0.05pt">T</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>e notes receivable<FONT STYLE="letter-spacing: 0.05pt">
f</FONT>rom participan<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s outstanding at<FONT STYLE="letter-spacing: 0.45pt"> </FONT>December<FONT STYLE="letter-spacing: 0.1pt">
</FONT>31,<FONT STYLE="letter-spacing: 0.4pt"> </FONT>2014 and<FONT STYLE="letter-spacing: 0.35pt"> </FONT>2013 were<FONT STYLE="letter-spacing: 0.35pt">
$7,842 thousand and </FONT>$7,188 thousand,<FONT STYLE="letter-spacing: 0.7pt"> </FONT>respectivel<FONT STYLE="letter-spacing: 0.1pt">y</FONT>.
The interest<FONT STYLE="letter-spacing: 0.75pt"> </FONT>rates charged<FONT STYLE="letter-spacing: 0.7pt"> </FONT>to participants<FONT STYLE="letter-spacing: 0.55pt">
</FONT>for outstanding<FONT STYLE="letter-spacing: 0.55pt"> </FONT>loans<FONT STYLE="letter-spacing: 0.8pt"> were between </FONT><FONT STYLE="letter-spacing: -0.05pt">4</FONT>.25%
to 5.0%<FONT STYLE="letter-spacing: -0.05pt"> </FONT>for the <FONT STYLE="letter-spacing: 0.1pt">y</FONT>e<FONT STYLE="letter-spacing: -0.05pt">a</FONT>r
ended Dece<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.1pt">b</FONT>er 31, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>Payment<FONT STYLE="letter-spacing: -0.4pt">
</FONT>of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Benefits</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">Upon<FONT STYLE="letter-spacing: 0.35pt">
</FONT>retirement<FONT STYLE="letter-spacing: 0.15pt"> </FONT>or<FONT STYLE="letter-spacing: 0.5pt"> </FONT>ter<FONT STYLE="letter-spacing: -0.1pt">m</FONT>i<FONT STYLE="letter-spacing: 0.1pt">n</FONT>ation<FONT STYLE="letter-spacing: 0.05pt">
</FONT>of<FONT STYLE="letter-spacing: 0.5pt"> </FONT>e<FONT STYLE="letter-spacing: -0.1pt">m</FONT>pl<FONT STYLE="letter-spacing: -0.05pt">o</FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent,
a<FONT STYLE="letter-spacing: 0.55pt"> </FONT>p<FONT STYLE="letter-spacing: -0.05pt">a</FONT>rticipant<FONT STYLE="letter-spacing: 0.1pt">
</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ay<FONT STYLE="letter-spacing: 0.5pt"> </FONT>elect<FONT STYLE="letter-spacing: 0.35pt">
</FONT>to<FONT STYLE="letter-spacing: 0.5pt"> </FONT>receive<FONT STYLE="letter-spacing: 0.25pt"> </FONT>the<FONT STYLE="letter-spacing: 0.45pt">
</FONT>value<FONT STYLE="letter-spacing: 0.25pt"> </FONT>of<FONT STYLE="letter-spacing: 0.5pt"> </FONT>the participant&rsquo;s<FONT STYLE="letter-spacing: -0.35pt">
</FONT>account<FONT STYLE="letter-spacing: -0.1pt"> </FONT>in<FONT STYLE="letter-spacing: 0.15pt"> </FONT>any<FONT STYLE="letter-spacing: 0.15pt">
</FONT>of<FONT STYLE="letter-spacing: 0.15pt"> </FONT>the<FONT STYLE="letter-spacing: 0.1pt"> </FONT>fol<FONT STYLE="letter-spacing: -0.05pt">lo</FONT>wing<FONT STYLE="letter-spacing: -0.2pt">
</FONT>for<FONT STYLE="letter-spacing: -0.1pt">m</FONT>s <FONT STYLE="letter-spacing: 0.1pt">o</FONT>f<FONT STYLE="letter-spacing: 0.2pt">
</FONT>distributi<FONT STYLE="letter-spacing: -0.05pt">o</FONT>n:<FONT STYLE="letter-spacing: -0.35pt"> </FONT>(i)<FONT STYLE="letter-spacing: 0.15pt">
</FONT>a<FONT STYLE="letter-spacing: 0.2pt"> </FONT>single distribution;<FONT STYLE="letter-spacing: -0.3pt"> </FONT>(i<FONT STYLE="letter-spacing: -0.05pt">i</FONT>)<FONT STYLE="letter-spacing: 0.1pt">
</FONT>two<FONT STYLE="letter-spacing: 0.1pt"> </FONT>or <FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">o</FONT>re<FONT STYLE="letter-spacing: 0.05pt">
</FONT>instal<FONT STYLE="letter-spacing: 0.05pt">l</FONT>ments<FONT STYLE="letter-spacing: -0.25pt"> </FONT>over<FONT STYLE="letter-spacing: 0.1pt">
</FONT>a<FONT STYLE="letter-spacing: 0.25pt"> </FONT>period elected<FONT STYLE="letter-spacing: 0.1pt"> </FONT>by the<FONT STYLE="letter-spacing: 0.15pt">
</FONT>participant;<FONT STYLE="letter-spacing: -0.2pt"> </FONT>or<FONT STYLE="letter-spacing: 0.2pt"> </FONT>(iii)<FONT STYLE="letter-spacing: 0.15pt">
</FONT><FONT STYLE="letter-spacing: -0.05pt">i</FONT>n<FONT STYLE="letter-spacing: 0.25pt"> </FONT>two<FONT STYLE="letter-spacing: 0.15pt">
</FONT>or<FONT STYLE="letter-spacing: 0.2pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">o</FONT>re<FONT STYLE="letter-spacing: 0.05pt">
</FONT>partial wit<FONT STYLE="letter-spacing: 0.1pt">h</FONT>drawals, any one of<FONT STYLE="letter-spacing: 0.35pt"> </FONT>which<FONT STYLE="letter-spacing: 0.25pt">
</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ay<FONT STYLE="letter-spacing: 0.35pt"> </FONT>be no<FONT STYLE="letter-spacing: 0.35pt">
</FONT>less than $1<FONT STYLE="letter-spacing: 0.35pt"> </FONT>thousand and which<FONT STYLE="letter-spacing: 0.25pt"> </FONT>may<FONT STYLE="letter-spacing: 0.35pt">
</FONT>be<FONT STYLE="letter-spacing: 0.35pt"> </FONT>taken<FONT STYLE="letter-spacing: 0.2pt"> </FONT>no<FONT STYLE="letter-spacing: 0.35pt">
</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">o</FONT>re<FONT STYLE="letter-spacing: 0.2pt">
</FONT>f<FONT STYLE="letter-spacing: 0.05pt">r</FONT>equently<FONT STYLE="letter-spacing: 0.1pt"> </FONT>than once each <FONT STYLE="letter-spacing: 0.05pt">c</FONT>a<FONT STYLE="letter-spacing: 0.05pt">l</FONT>endar<FONT STYLE="letter-spacing: 0.2pt">
</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>onth. Distributions <FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">u</FONT>st
c<FONT STYLE="letter-spacing: 0.1pt">o</FONT>mmence<FONT STYLE="letter-spacing: 0.05pt"> </FONT>no later than<FONT STYLE="letter-spacing: 0.35pt">
</FONT>the required<FONT STYLE="letter-spacing: 0.15pt"> </FONT>c<FONT STYLE="letter-spacing: 0.1pt">o</FONT>mmenc<FONT STYLE="letter-spacing: 0.05pt">e</FONT>ment
date<FONT STYLE="letter-spacing: -0.2pt"> </FONT>as<FONT STYLE="letter-spacing: -0.1pt"> </FONT>set<FONT STYLE="letter-spacing: -0.1pt">
</FONT>fo<FONT STYLE="letter-spacing: 0.05pt">r</FONT>th<FONT STYLE="letter-spacing: -0.2pt"> </FONT>in<FONT STYLE="letter-spacing: -0.1pt">
</FONT>the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: -0.15pt">
</FONT>Plan<FONT STYLE="letter-spacing: -0.2pt"> </FONT>also<FONT STYLE="letter-spacing: -0.1pt"> </FONT>pe<FONT STYLE="letter-spacing: 0.05pt">r</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>its<FONT STYLE="letter-spacing: -0.25pt">
</FONT>withdrawals<FONT STYLE="letter-spacing: -0.55pt"> </FONT>of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>p<FONT STYLE="letter-spacing: 0.05pt">r</FONT>e-tax<FONT STYLE="letter-spacing: -0.3pt">
</FONT>el<FONT STYLE="letter-spacing: 0.05pt">e</FONT>ctive<FONT STYLE="letter-spacing: -0.35pt"> </FONT>deferral<FONT STYLE="letter-spacing: -0.25pt">
</FONT>contributions<FONT STYLE="letter-spacing: -0.6pt"> </FONT>in<FONT STYLE="letter-spacing: -0.1pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">t</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>e<FONT STYLE="letter-spacing: -0.15pt">
</FONT>event<FONT STYLE="letter-spacing: -0.25pt"> </FONT>of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>a<FONT STYLE="letter-spacing: 0.05pt">
</FONT>hardship. Hardship<FONT STYLE="letter-spacing: -0.3pt"> </FONT>for this<FONT STYLE="letter-spacing: -0.05pt"> </FONT>purpose<FONT STYLE="letter-spacing: -0.25pt">
</FONT>is<FONT STYLE="letter-spacing: 0.05pt"> </FONT>defin<FONT STYLE="letter-spacing: -0.15pt">e</FONT>d<FONT STYLE="letter-spacing: -0.25pt">
</FONT>as<FONT STYLE="letter-spacing: 0.05pt"> </FONT>an immediate<FONT STYLE="letter-spacing: -0.3pt"> </FONT>and<FONT STYLE="letter-spacing: -0.05pt">
</FONT>heavy<FONT STYLE="letter-spacing: -0.1pt"> </FONT>fi<FONT STYLE="letter-spacing: -0.05pt">n</FONT>an<FONT STYLE="letter-spacing: -0.1pt">c</FONT>ial<FONT STYLE="letter-spacing: -0.3pt">
</FONT>need<FONT STYLE="letter-spacing: -0.1pt"> </FONT>that<FONT STYLE="letter-spacing: -0.05pt"> </FONT>cannot<FONT STYLE="letter-spacing: -0.2pt">
</FONT>be satisfied from<FONT STYLE="letter-spacing: 0.1pt"> </FONT>other<FONT STYLE="letter-spacing: 0.25pt"> </FONT>sources<FONT STYLE="letter-spacing: 0.1pt">
</FONT>and<FONT STYLE="letter-spacing: 0.25pt"> </FONT>th<FONT STYLE="letter-spacing: 0.05pt">a</FONT>t<FONT STYLE="letter-spacing: 0.25pt">
</FONT>is<FONT STYLE="letter-spacing: 0.35pt"> </FONT>for<FONT STYLE="letter-spacing: 0.3pt"> </FONT>the<FONT STYLE="letter-spacing: 0.3pt">
</FONT>pa<FONT STYLE="letter-spacing: 0.1pt">y</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent<FONT STYLE="letter-spacing: 0.05pt">
</FONT>of:<FONT STYLE="letter-spacing: 0.3pt"> </FONT>(i)<FONT STYLE="letter-spacing: 0.35pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>edical<FONT STYLE="letter-spacing: 0.15pt">
</FONT>expenses; (ii)<FONT STYLE="letter-spacing: 0.3pt"> </FONT>purchase<FONT STYLE="letter-spacing: 0.05pt"> </FONT>of<FONT STYLE="letter-spacing: 0.35pt">
</FONT>a principal residence;<FONT STYLE="letter-spacing: -0.15pt"> </FONT>(ii<FONT STYLE="letter-spacing: 0.05pt">i</FONT>)<FONT STYLE="letter-spacing: 0.15pt">
</FONT>tuition and<FONT STYLE="letter-spacing: 0.15pt"> </FONT>related fees<FONT STYLE="letter-spacing: 0.1pt"> </FONT>f<FONT STYLE="letter-spacing: 0.1pt">o</FONT>r<FONT STYLE="letter-spacing: 0.15pt">
</FONT>a <FONT STYLE="letter-spacing: 0.1pt">y</FONT>ear<FONT STYLE="letter-spacing: 0.1pt"> </FONT>of post-secondary<FONT STYLE="letter-spacing: -0.3pt">
</FONT>education;<FONT STYLE="letter-spacing: -0.15pt"> </FONT>(iv)<FONT STYLE="letter-spacing: 0.15pt"> </FONT>a<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ounts<FONT STYLE="letter-spacing: -0.05pt">
</FONT>necessa<FONT STYLE="letter-spacing: -0.05pt">r</FONT>y to prevent the eviction of the participant or <FONT STYLE="letter-spacing: -0.05pt">t</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>e
f<FONT STYLE="letter-spacing: -0.05pt">o</FONT>reclosure of the <FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">o</FONT>rtgage
on the part<FONT STYLE="letter-spacing: -0.05pt">i</FONT>cipant&rsquo;s primary residence;<FONT STYLE="letter-spacing: 0.3pt">
</FONT>(v) burial or funeral expenses;<FONT STYLE="letter-spacing: 0.3pt"> </FONT>a<FONT STYLE="letter-spacing: 0.05pt">n</FONT>d
(vi) certain expenses<FONT STYLE="letter-spacing: 0.35pt"> </FONT>for the repair of d<FONT STYLE="letter-spacing: 0.05pt">a</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>age
to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>a<FONT STYLE="letter-spacing: -0.05pt"> </FONT>principal residence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Note 2:</B></TD><TD STYLE="text-align: justify"><B>Summary<FONT STYLE="letter-spacing: -0.45pt"> </FONT>of
Significant<FONT STYLE="letter-spacing: -0.55pt"> </FONT>Accounting<FONT STYLE="letter-spacing: -0.55pt"> </FONT>Policies</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>Basis<FONT STYLE="letter-spacing: -0.25pt">
</FONT>of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Ac<FONT STYLE="letter-spacing: 0.05pt">co</FONT>unting</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 1.2pt">
</FONT>financial<FONT STYLE="letter-spacing: 0.95pt"> </FONT>statements<FONT STYLE="letter-spacing: 0.9pt"> </FONT>of<FONT STYLE="letter-spacing: 1.25pt">
</FONT>the<FONT STYLE="letter-spacing: 1.2pt"> </FONT>Plan<FONT STYLE="letter-spacing: 1.15pt"> </FONT>a<FONT STYLE="letter-spacing: -0.05pt">r</FONT>e<FONT STYLE="letter-spacing: 1.2pt">
</FONT>prepa<FONT STYLE="letter-spacing: 0.05pt">r</FONT>ed<FONT STYLE="letter-spacing: 0.95pt"> </FONT>on<FONT STYLE="letter-spacing: 1.25pt">
</FONT>the<FONT STYLE="letter-spacing: 1.2pt"> </FONT>accrual<FONT STYLE="letter-spacing: 1.05pt"> </FONT>basis<FONT STYLE="letter-spacing: 1.15pt">
</FONT>of<FONT STYLE="letter-spacing: 1.25pt"> </FONT>accounting<FONT STYLE="letter-spacing: 0.85pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">i</FONT>n<FONT STYLE="letter-spacing: 1.25pt">
</FONT>confor<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ity with<FONT STYLE="letter-spacing: 0.3pt"> </FONT>accounting principles
generally<FONT STYLE="letter-spacing: 0.15pt"> </FONT>accepted<FONT STYLE="letter-spacing: 0.1pt"> </FONT>in<FONT STYLE="letter-spacing: 0.4pt">
</FONT>the<FONT STYLE="letter-spacing: 0.35pt"> </FONT>United States of<FONT STYLE="letter-spacing: 0.4pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">A</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>eri<FONT STYLE="letter-spacing: 0.05pt">c</FONT>a,<FONT STYLE="letter-spacing: 0.15pt">
</FONT>referred<FONT STYLE="letter-spacing: 0.15pt"> </FONT>to<FONT STYLE="letter-spacing: 0.4pt"> </FONT>as GAAP. The prepara<FONT STYLE="letter-spacing: 0.05pt">t</FONT>ion
of the Plan financial <FONT STYLE="letter-spacing: 0.3pt"> </FONT>stat<FONT STYLE="letter-spacing: 0.05pt">e</FONT>me<FONT STYLE="letter-spacing: 0.05pt">n</FONT>ts
<FONT STYLE="letter-spacing: 0.3pt"> </FONT>in confor<FONT STYLE="letter-spacing: -0.1pt">m</FONT>i<FONT STYLE="letter-spacing: 0.05pt">t</FONT>y
with GAAP <FONT STYLE="letter-spacing: 0.4pt"> </FONT>requires <FONT STYLE="letter-spacing: 0.35pt"> </FONT>the Plan a<FONT STYLE="letter-spacing: 0.1pt">d</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>inistrator
to <FONT STYLE="letter-spacing: -0.1pt">m</FONT>ake<FONT STYLE="letter-spacing: 0.3pt"> </FONT>es<FONT STYLE="letter-spacing: 0.05pt">ti</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ates<FONT STYLE="letter-spacing: 0.15pt">
</FONT>and<FONT STYLE="letter-spacing: 0.4pt"> </FONT>ass<FONT STYLE="letter-spacing: 0.1pt">u</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>tions
that<FONT STYLE="letter-spacing: 0.4pt"> </FONT>affect<FONT STYLE="letter-spacing: 0.3pt"> </FONT>the<FONT STYLE="letter-spacing: 0.4pt">
</FONT>reported a<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ounts<FONT STYLE="letter-spacing: 0.15pt"> </FONT>of net<FONT STYLE="letter-spacing: 0.4pt">
</FONT>asse<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s available for<FONT STYLE="letter-spacing: 0.05pt"> </FONT>benefits<FONT STYLE="letter-spacing: -0.1pt">
</FONT>at<FONT STYLE="letter-spacing: 0.15pt"> </FONT>the<FONT STYLE="letter-spacing: 0.1pt"> </FONT>date<FONT STYLE="letter-spacing: 0.05pt">
</FONT>of<FONT STYLE="letter-spacing: 0.15pt"> </FONT>the<FONT STYLE="letter-spacing: 0.05pt"> </FONT>financial stat<FONT STYLE="letter-spacing: 0.05pt">e</FONT>ments
and<FONT STYLE="letter-spacing: 0.1pt"> </FONT>the<FONT STYLE="letter-spacing: 0.1pt"> </FONT>changes<FONT STYLE="letter-spacing: -0.1pt">
</FONT>in<FONT STYLE="letter-spacing: 0.1pt"> </FONT>net<FONT STYLE="letter-spacing: 0.1pt"> </FONT>assets av<FONT STYLE="letter-spacing: 0.05pt">a</FONT>ilable
for benefits<FONT STYLE="letter-spacing: 0.15pt"> </FONT>dur<FONT STYLE="letter-spacing: -0.05pt">i</FONT>ng the<FONT STYLE="letter-spacing: 0.35pt">
</FONT>re<FONT STYLE="letter-spacing: -0.05pt">p</FONT><FONT STYLE="letter-spacing: 0.05pt">o</FONT><FONT STYLE="letter-spacing: -0.05pt">r</FONT>ting<FONT STYLE="letter-spacing: 0.1pt">
</FONT>peri<FONT STYLE="letter-spacing: -0.05pt">o</FONT>d<FONT STYLE="letter-spacing: 0.15pt"> </FONT>and,<FONT STYLE="letter-spacing: 0.3pt">
</FONT>when <FONT STYLE="letter-spacing: -0.05pt">a</FONT>pplicable, disclosures of<FONT STYLE="letter-spacing: 0.4pt"> </FONT>contingent
a<FONT STYLE="letter-spacing: -0.05pt">s</FONT>sets a<FONT STYLE="letter-spacing: 0.1pt">n</FONT>d liabilities at<FONT STYLE="letter-spacing: -0.1pt">
</FONT>the date of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the financial sta<FONT STYLE="letter-spacing: 0.05pt">t</FONT>e<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ents.
Ac<FONT STYLE="letter-spacing: 0.05pt">tu</FONT>al results could differ from those est<FONT STYLE="letter-spacing: 0.05pt">i</FONT>mates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Enbridge<FONT STYLE="letter-spacing: -0.55pt">
</FONT>Employee<FONT STYLE="letter-spacing: -0.6pt"> </FONT>Services,<FONT STYLE="letter-spacing: -0.5pt"> </FONT>Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Employees&rsquo;
Savings<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Notes
to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Financial<FONT STYLE="letter-spacing: -0.55pt"> </FONT>Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>December<FONT STYLE="letter-spacing: -0.6pt">
</FONT>31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014<FONT STYLE="letter-spacing: -0.3pt"> </FONT>and<FONT STYLE="letter-spacing: -0.25pt">
</FONT>2013</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>Valuation<FONT STYLE="letter-spacing: -0.5pt">
</FONT>of<FONT STYLE="letter-spacing: -0.15pt"> </FONT>Inves<FONT STYLE="letter-spacing: 0.05pt">t</FONT>ment<FONT STYLE="letter-spacing: -0.5pt">
</FONT><FONT STYLE="letter-spacing: 0.1pt">a</FONT>nd<FONT STYLE="letter-spacing: -0.15pt"> </FONT>Income<FONT STYLE="letter-spacing: -0.35pt">
</FONT><FONT STYLE="letter-spacing: 0.05pt">R</FONT>ecognition</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 0.35pt">
</FONT>Plan<FONT STYLE="letter-spacing: 0.3pt"> </FONT>def<FONT STYLE="letter-spacing: 0.05pt">i</FONT>nes<FONT STYLE="letter-spacing: 0.2pt">
</FONT>fair<FONT STYLE="letter-spacing: 0.35pt"> </FONT>value<FONT STYLE="letter-spacing: 0.25pt"> </FONT>as<FONT STYLE="letter-spacing: 0.45pt">
</FONT>an<FONT STYLE="letter-spacing: 0.4pt"> </FONT>exit<FONT STYLE="letter-spacing: 0.35pt"> </FONT>pr<FONT STYLE="letter-spacing: 0.05pt">i</FONT>ce<FONT STYLE="letter-spacing: 0.3pt">
</FONT>rep<FONT STYLE="letter-spacing: 0.05pt">r</FONT>esent<FONT STYLE="letter-spacing: 0.05pt">i</FONT>ng<FONT STYLE="letter-spacing: -0.05pt">
</FONT>the<FONT STYLE="letter-spacing: 0.35pt"> </FONT>expected<FONT STYLE="letter-spacing: 0.1pt"> </FONT>a<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ount<FONT STYLE="letter-spacing: 0.15pt">
</FONT>it<FONT STYLE="letter-spacing: 0.5pt"> </FONT>would<FONT STYLE="letter-spacing: 0.2pt"> </FONT>receive<FONT STYLE="letter-spacing: 0.2pt">
</FONT>to<FONT STYLE="letter-spacing: 0.4pt"> </FONT>sell an<FONT STYLE="letter-spacing: 0.4pt"> </FONT>asset<FONT STYLE="letter-spacing: 0.3pt">
</FONT>or<FONT STYLE="letter-spacing: 0.45pt"> </FONT>pay<FONT STYLE="letter-spacing: 0.45pt"> </FONT>to<FONT STYLE="letter-spacing: 0.45pt">
</FONT>transfer<FONT STYLE="letter-spacing: 0.2pt"> </FONT>a<FONT STYLE="letter-spacing: 0.45pt"> </FONT>liability<FONT STYLE="letter-spacing: 0.15pt">
</FONT>in<FONT STYLE="letter-spacing: 0.45pt"> </FONT>an<FONT STYLE="letter-spacing: 0.4pt"> </FONT>ord<FONT STYLE="letter-spacing: -0.05pt">e</FONT>rly<FONT STYLE="letter-spacing: 0.2pt">
</FONT>transaction<FONT STYLE="letter-spacing: 0.05pt"> </FONT>with<FONT STYLE="letter-spacing: 0.3pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ar<FONT STYLE="letter-spacing: 0.1pt">k</FONT>et<FONT STYLE="letter-spacing: 0.2pt">
</FONT>participants at<FONT STYLE="letter-spacing: 0.45pt"> </FONT>the measurement<FONT STYLE="letter-spacing: -0.2pt"> </FONT>date.<FONT STYLE="letter-spacing: 0.2pt">
</FONT>The<FONT STYLE="letter-spacing: 0.25pt"> </FONT>P<FONT STYLE="letter-spacing: -0.05pt">l</FONT>an<FONT STYLE="letter-spacing: 0.2pt">
</FONT>applies<FONT STYLE="letter-spacing: 0.1pt"> </FONT>the<FONT STYLE="letter-spacing: 0.25pt"> </FONT>authoritative<FONT STYLE="letter-spacing: -0.25pt">
</FONT>guidance to<FONT STYLE="letter-spacing: 0.25pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">f</FONT>air<FONT STYLE="letter-spacing: 0.25pt">
</FONT>values<FONT STYLE="letter-spacing: 0.1pt"> </FONT>of<FONT STYLE="letter-spacing: 0.3pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">i</FONT>nvest<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ents<FONT STYLE="letter-spacing: -0.15pt">
</FONT>it<FONT STYLE="letter-spacing: 0.35pt"> </FONT>reports in<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the<FONT STYLE="letter-spacing: -0.15pt">
</FONT>Statements of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Net<FONT STYLE="letter-spacing: -0.15pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">A</FONT>ssets<FONT STYLE="letter-spacing: -0.25pt">
</FONT>Availab<FONT STYLE="letter-spacing: -0.05pt">l</FONT>e for<FONT STYLE="letter-spacing: -0.15pt"> </FONT>Benefits and<FONT STYLE="letter-spacing: -0.15pt">
</FONT>related disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 1.4pt">
</FONT>Plan<FONT STYLE="letter-spacing: 1.35pt"> </FONT>emplo<FONT STYLE="letter-spacing: 0.1pt">y</FONT>s<FONT STYLE="letter-spacing: 1.2pt">
</FONT>a<FONT STYLE="letter-spacing: 1.5pt"> </FONT>hierarchy<FONT STYLE="letter-spacing: 1.25pt"> </FONT>which<FONT STYLE="letter-spacing: 1.3pt">
</FONT>prioritizes<FONT STYLE="letter-spacing: 1.1pt"> </FONT>the<FONT STYLE="letter-spacing: 1.55pt"> </FONT>inputs<FONT STYLE="letter-spacing: 1.35pt">
</FONT>it<FONT STYLE="letter-spacing: 1.55pt"> </FONT>uses<FONT STYLE="letter-spacing: 1.4pt"> </FONT>to<FONT STYLE="letter-spacing: 1.55pt">
</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">e</FONT>asure<FONT STYLE="letter-spacing: 1.3pt">
</FONT>fair<FONT STYLE="letter-spacing: 1.45pt"> </FONT>value<FONT STYLE="letter-spacing: 1.35pt"> </FONT>in<FONT STYLE="letter-spacing: 0.05pt">t</FONT>o<FONT STYLE="letter-spacing: 1.45pt">
</FONT>three distinct<FONT STYLE="letter-spacing: 0.15pt"> </FONT>cate<FONT STYLE="letter-spacing: 0.1pt">g</FONT>ories<FONT STYLE="letter-spacing: 0.05pt">
</FONT>based<FONT STYLE="letter-spacing: 0.25pt"> </FONT><FONT STYLE="letter-spacing: 0.1pt">u</FONT>pon<FONT STYLE="letter-spacing: 0.25pt">
</FONT>whether<FONT STYLE="letter-spacing: 0.1pt"> </FONT>such<FONT STYLE="letter-spacing: 0.25pt"> </FONT>inputs<FONT STYLE="letter-spacing: 0.15pt">
</FONT>are<FONT STYLE="letter-spacing: 0.35pt"> </FONT>observable in active<FONT STYLE="letter-spacing: 0.25pt"> </FONT>markets<FONT STYLE="letter-spacing: 0.15pt">
</FONT>or unobservable. The<FONT STYLE="letter-spacing: 1.4pt"> </FONT>Plan<FONT STYLE="letter-spacing: 1.35pt"> </FONT>classifies
asse<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s<FONT STYLE="letter-spacing: 1.3pt"> </FONT>and<FONT STYLE="letter-spacing: 1.4pt">
</FONT>liabilities in<FONT STYLE="letter-spacing: 1.45pt"> </FONT>their<FONT STYLE="letter-spacing: 1.35pt"> </FONT>entirety<FONT STYLE="letter-spacing: 1.25pt">
</FONT>based<FONT STYLE="letter-spacing: 1.3pt"> </FONT>on<FONT STYLE="letter-spacing: 1.45pt"> </FONT>the<FONT STYLE="letter-spacing: 1.4pt">
</FONT>lowest<FONT STYLE="letter-spacing: 1.25pt"> </FONT>level<FONT STYLE="letter-spacing: 1.35pt"> </FONT>of<FONT STYLE="letter-spacing: 1.45pt">
</FONT>input<FONT STYLE="letter-spacing: 1.3pt"> </FONT>that<FONT STYLE="letter-spacing: 1.4pt"> </FONT>is significant to the fair
value<FONT STYLE="letter-spacing: -0.1pt"> </FONT>measurement. The methodology for categorizing asse<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s
and liabilities that are measured<FONT STYLE="letter-spacing: 0.05pt"> </FONT>at fair value<FONT STYLE="letter-spacing: 0.25pt">
</FONT>pursuant<FONT STYLE="letter-spacing: 0.1pt"> </FONT>to t<FONT STYLE="letter-spacing: 0.05pt">h</FONT>is hierarchy<FONT STYLE="letter-spacing: 0.05pt">
</FONT>gives<FONT STYLE="letter-spacing: 0.25pt"> </FONT>the<FONT STYLE="letter-spacing: 0.35pt"> </FONT>highest<FONT STYLE="letter-spacing: 0.15pt">
</FONT>priority<FONT STYLE="letter-spacing: 0.15pt"> </FONT>to unadjusted quoted prices in<FONT STYLE="letter-spacing: -0.1pt">
</FONT>act<FONT STYLE="letter-spacing: 0.05pt">iv</FONT>e markets a<FONT STYLE="letter-spacing: 0.1pt">n</FONT>d the lowest level
to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>unobservable inputs as<FONT STYLE="letter-spacing: -0.1pt"> </FONT>outlined below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 44pt"></TD><TD STYLE="width: 18pt">&bull;</TD><TD STYLE="text-align: justify">Level<FONT STYLE="letter-spacing: 1.7pt"> </FONT>1&mdash;The<FONT STYLE="letter-spacing: 1.6pt">
</FONT>Plan<FONT STYLE="letter-spacing: 1.75pt"> </FONT>includes<FONT STYLE="letter-spacing: 1.6pt"> </FONT>in<FONT STYLE="letter-spacing: 1.85pt">
</FONT>this<FONT STYLE="letter-spacing: 1.8pt"> </FONT>category<FONT STYLE="letter-spacing: 1.6pt"> </FONT>t<FONT STYLE="letter-spacing: 0.05pt">h</FONT>e<FONT STYLE="letter-spacing: 1.8pt">
</FONT>fair<FONT STYLE="letter-spacing: 1.8pt"> </FONT>value<FONT STYLE="letter-spacing: 1.7pt"> </FONT>of<FONT STYLE="letter-spacing: 1.85pt">
</FONT>assets<FONT STYLE="letter-spacing: 1.7pt"> </FONT>and<FONT STYLE="letter-spacing: 1.8pt"> </FONT>liabilities<FONT STYLE="letter-spacing: 1.55pt">
</FONT>that<FONT STYLE="letter-spacing: 1.8pt"> </FONT>it measures<FONT STYLE="letter-spacing: 0.05pt"> </FONT>based<FONT STYLE="letter-spacing: 0.25pt">
</FONT>on<FONT STYLE="letter-spacing: 0.25pt"> </FONT>unad<FONT STYLE="letter-spacing: -0.05pt">j</FONT>usted quoted<FONT STYLE="letter-spacing: 0.2pt">
</FONT>prices<FONT STYLE="letter-spacing: 0.2pt"> </FONT>in<FONT STYLE="letter-spacing: 0.35pt"> </FONT>active<FONT STYLE="letter-spacing: 0.2pt">
</FONT>markets<FONT STYLE="letter-spacing: 0.15pt"> </FONT>that<FONT STYLE="letter-spacing: 0.3pt"> </FONT>are<FONT STYLE="letter-spacing: 0.35pt">
</FONT>accessible<FONT STYLE="letter-spacing: 0.05pt"> </FONT>at<FONT STYLE="letter-spacing: 0.4pt"> </FONT>the measurement<FONT STYLE="letter-spacing: 1.1pt">
</FONT>date for<FONT STYLE="letter-spacing: 1.55pt"> </FONT>id<FONT STYLE="letter-spacing: -0.05pt">e</FONT><FONT STYLE="letter-spacing: 0.05pt">n</FONT>tical,
unrestricted as<FONT STYLE="letter-spacing: 0.05pt">s</FONT>ets or<FONT STYLE="letter-spacing: 1.6pt"> </FONT>liabilities. The<FONT STYLE="letter-spacing: 1.55pt">
</FONT>Plan considers active markets<FONT STYLE="letter-spacing: 0.2pt"> </FONT>as <FONT STYLE="letter-spacing: 0.05pt">t</FONT>hose<FONT STYLE="letter-spacing: 0.3pt">
</FONT>in which<FONT STYLE="letter-spacing: 0.25pt"> </FONT>transactions for<FONT STYLE="letter-spacing: 0.4pt"> </FONT>t<FONT STYLE="letter-spacing: -0.05pt">h</FONT>e
assets<FONT STYLE="letter-spacing: 0.25pt"> </FONT>or liabili<FONT STYLE="letter-spacing: 0.05pt">t</FONT>ies occur<FONT STYLE="letter-spacing: 0.35pt">
</FONT>w<FONT STYLE="letter-spacing: 0.05pt">i</FONT>th<FONT STYLE="letter-spacing: 0.35pt"> </FONT>sufficient frequency a<FONT STYLE="letter-spacing: -0.05pt">n</FONT>d
vo<FONT STYLE="letter-spacing: -0.05pt">l</FONT>ume to provide prici<FONT STYLE="letter-spacing: -0.05pt">n</FONT>g information
on an <FONT STYLE="letter-spacing: -0.05pt">o</FONT>ng<FONT STYLE="letter-spacing: -0.05pt">o</FONT>i<FONT STYLE="letter-spacing: -0.05pt">n</FONT>g
basis.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 44pt"></TD><TD STYLE="width: 18pt">&bull;</TD><TD STYLE="text-align: justify">Level<FONT STYLE="letter-spacing: 1.2pt"> </FONT>2&mdash;The<FONT STYLE="letter-spacing: 1.1pt">
</FONT>Plan<FONT STYLE="letter-spacing: 1.25pt"> </FONT>includes<FONT STYLE="letter-spacing: 1.6pt"> </FONT>in<FONT STYLE="letter-spacing: 1.85pt">
</FONT>this<FONT STYLE="letter-spacing: 1.8pt"> </FONT>category<FONT STYLE="letter-spacing: 0.95pt"> </FONT>the<FONT STYLE="letter-spacing: 1.3pt">
</FONT><FONT STYLE="letter-spacing: 0.05pt">f</FONT>a<FONT STYLE="letter-spacing: 0.05pt">i</FONT>r<FONT STYLE="letter-spacing: 1.3pt">
</FONT>value<FONT STYLE="letter-spacing: 1.25pt"> </FONT>of<FONT STYLE="letter-spacing: 1.35pt"> </FONT>assets<FONT STYLE="letter-spacing: 1.25pt">
</FONT>and<FONT STYLE="letter-spacing: 1.3pt"> </FONT>liabilities<FONT STYLE="letter-spacing: 1.05pt"> </FONT>that<FONT STYLE="letter-spacing: 1.3pt">
</FONT>it<FONT STYLE="letter-spacing: 1.45pt"> </FONT>measures<FONT STYLE="letter-spacing: 1.1pt"> </FONT>wi<FONT STYLE="letter-spacing: 0.05pt">t</FONT>h
either<FONT STYLE="letter-spacing: -0.25pt"> </FONT>directly<FONT STYLE="letter-spacing: -0.35pt"> </FONT>or<FONT STYLE="letter-spacing: -0.1pt">
</FONT>indirectly<FONT STYLE="letter-spacing: -0.35pt"> </FONT>observable inputs<FONT STYLE="letter-spacing: -0.25pt"> </FONT>as<FONT STYLE="letter-spacing: -0.1pt">
</FONT>of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the measurement date where<FONT STYLE="letter-spacing: -0.25pt"> </FONT>pricing
inp<FONT STYLE="letter-spacing: 0.05pt">u</FONT>ts are other than quoted prices in active <FONT STYLE="letter-spacing: -0.1pt">m</FONT>arkets
for identical instruments. This category includes<FONT STYLE="letter-spacing: 0.05pt"> </FONT>those assets and liabilities that
the Plan values using <FONT STYLE="letter-spacing: -0.1pt">m</FONT>odels or other valuation methodologies derived from observable
market data. <FONT STYLE="letter-spacing: 0.05pt">Th</FONT>ese <FONT STYLE="letter-spacing: -0.1pt">m</FONT>ode<FONT STYLE="letter-spacing: 0.05pt">l</FONT>s
are pr<FONT STYLE="letter-spacing: 0.05pt">i</FONT>marily industry-standard <FONT STYLE="letter-spacing: -0.1pt">m</FONT>odels
that consider various inputs including: (i) quoted prices for assets and liabilities; (ii) t<FONT STYLE="letter-spacing: 0.05pt">i</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>e
va<FONT STYLE="letter-spacing: 0.05pt">lu</FONT>e; (iii) volatility <FONT STYLE="letter-spacing: -0.1pt">f</FONT>actors; and (iv)
current <FONT STYLE="letter-spacing: -0.1pt">m</FONT>arket and contractual prices for <FONT STYLE="letter-spacing: 0.05pt">th</FONT>e
underlying<FONT STYLE="letter-spacing: 0.05pt"> </FONT>instru<FONT STYLE="letter-spacing: -0.1pt">m</FONT>en<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s,
as well as other relevant economic <FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">e</FONT>asures.
Substantially all of these inputs are observable<FONT STYLE="letter-spacing: -0.1pt"> </FONT>in the marketplace <FONT STYLE="letter-spacing: 0.05pt">th</FONT>roughout
the full te<FONT STYLE="letter-spacing: 0.05pt">r</FONT>m of the<FONT STYLE="letter-spacing: 1.35pt"> </FONT>asse<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s<FONT STYLE="letter-spacing: 1.25pt">
</FONT>and<FONT STYLE="letter-spacing: 1.35pt"> </FONT>liabilities,<FONT STYLE="letter-spacing: 1.05pt"> </FONT>can<FONT STYLE="letter-spacing: 1.35pt">
</FONT>be derived from<FONT STYLE="letter-spacing: 1.2pt"> </FONT>observable data,<FONT STYLE="letter-spacing: 1.3pt"> </FONT>or
supported by observable levels<FONT STYLE="letter-spacing: -0.25pt"> </FONT>at<FONT STYLE="letter-spacing: -0.1pt"> </FONT>whi<FONT STYLE="letter-spacing: 0.05pt">c</FONT>h<FONT STYLE="letter-spacing: -0.25pt">
</FONT>transactions are executed in<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the <FONT STYLE="letter-spacing: -0.1pt">m</FONT>arke<FONT STYLE="letter-spacing: 0.05pt">t</FONT>place.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 44pt"></TD><TD STYLE="width: 18pt">&bull;</TD><TD STYLE="text-align: justify">Level<FONT STYLE="letter-spacing: 1.7pt"> </FONT>3&mdash;The<FONT STYLE="letter-spacing: 1.6pt">
</FONT>Plan<FONT STYLE="letter-spacing: 1.75pt"> </FONT>includes<FONT STYLE="letter-spacing: 1.6pt"> </FONT>in<FONT STYLE="letter-spacing: 1.85pt">
</FONT>this<FONT STYLE="letter-spacing: 1.8pt"> </FONT>category<FONT STYLE="letter-spacing: 1.6pt"> </FONT>t<FONT STYLE="letter-spacing: 0.05pt">h</FONT>e<FONT STYLE="letter-spacing: 1.8pt">
</FONT>fair<FONT STYLE="letter-spacing: 1.8pt"> </FONT>value<FONT STYLE="letter-spacing: 1.7pt"> </FONT>of<FONT STYLE="letter-spacing: 1.85pt">
</FONT>assets<FONT STYLE="letter-spacing: 1.7pt"> </FONT>and<FONT STYLE="letter-spacing: 1.8pt"> </FONT>liabilities<FONT STYLE="letter-spacing: 1.55pt">
</FONT>that<FONT STYLE="letter-spacing: 1.8pt"> </FONT>it measures <FONT STYLE="letter-spacing: 0.05pt"> </FONT>based <FONT STYLE="letter-spacing: 0.2pt">
</FONT>on <FONT STYLE="letter-spacing: 0.35pt"> </FONT>prices <FONT STYLE="letter-spacing: 0.2pt"> </FONT>or <FONT STYLE="letter-spacing: 0.4pt">
</FONT>valuation <FONT STYLE="letter-spacing: 0.05pt"> </FONT>techniqu<FONT STYLE="letter-spacing: -0.05pt">e</FONT>s that <FONT STYLE="letter-spacing: 0.3pt">
</FONT>require <FONT STYLE="letter-spacing: 0.15pt"> </FONT>inputs <FONT STYLE="letter-spacing: 0.2pt"> </FONT>which <FONT STYLE="letter-spacing: 0.2pt">
</FONT>are <FONT STYLE="letter-spacing: 0.35pt"> </FONT>both significant<FONT STYLE="letter-spacing: 0.1pt"> </FONT>to<FONT STYLE="letter-spacing: 0.5pt">
</FONT>the fair val<FONT STYLE="letter-spacing: 0.1pt">u</FONT>e<FONT STYLE="letter-spacing: 0.4pt"> </FONT>measur<FONT STYLE="letter-spacing: 0.05pt">e</FONT>m<FONT STYLE="letter-spacing: 0.05pt">e</FONT>nt
and less<FONT STYLE="letter-spacing: 0.4pt"> </FONT>observable<FONT STYLE="letter-spacing: 0.1pt"> </FONT>from<FONT STYLE="letter-spacing: 0.35pt">
</FONT>objective sources. (i.e., values<FONT STYLE="letter-spacing: 0.15pt"> </FONT>supported by<FONT STYLE="letter-spacing: 0.35pt">
</FONT>lesser<FONT STYLE="letter-spacing: 0.2pt"> </FONT>volumes<FONT STYLE="letter-spacing: 0.05pt"> </FONT>of<FONT STYLE="letter-spacing: 0.35pt">
</FONT>market<FONT STYLE="letter-spacing: 0.15pt"> </FONT>activ<FONT STYLE="letter-spacing: 0.05pt">i</FONT>t<FONT STYLE="letter-spacing: 0.1pt">y</FONT><FONT STYLE="letter-spacing: -0.05pt">)</FONT>.<FONT STYLE="letter-spacing: 0.05pt">
</FONT>The Plan may<FONT STYLE="letter-spacing: 0.3pt"> </FONT>also u<FONT STYLE="letter-spacing: -0.05pt">s</FONT>e<FONT STYLE="letter-spacing: 0.3pt">
</FONT>these<FONT STYLE="letter-spacing: 0.2pt"> </FONT>inpu<FONT STYLE="letter-spacing: -0.05pt">t</FONT>s with internal<FONT STYLE="letter-spacing: -0.05pt">l</FONT>y
developed<FONT STYLE="letter-spacing: 0.35pt"> </FONT>methodologi<FONT STYLE="letter-spacing: -0.05pt">e</FONT>s that result <FONT STYLE="letter-spacing: -0.05pt">i</FONT>n
its best est<FONT STYLE="letter-spacing: -0.05pt">i</FONT>mate of the fair value. <FONT STYLE="letter-spacing: 1.6pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">I</FONT>n
m<FONT STYLE="letter-spacing: 0.1pt">o</FONT>st<FONT STYLE="letter-spacing: 0.05pt"> </FONT>instances, the<FONT STYLE="letter-spacing: 0.1pt">
</FONT>observable data<FONT STYLE="letter-spacing: 0.05pt"> </FONT>is<FONT STYLE="letter-spacing: 0.2pt"> </FONT>not<FONT STYLE="letter-spacing: 0.1pt">
</FONT>avail<FONT STYLE="letter-spacing: -0.05pt">a</FONT>ble to<FONT STYLE="letter-spacing: 0.1pt"> </FONT>validate the<FONT STYLE="letter-spacing: 0.1pt">
</FONT><FONT STYLE="letter-spacing: -0.05pt">i</FONT>nputs used<FONT STYLE="letter-spacing: 0.05pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">t</FONT>o<FONT STYLE="letter-spacing: 0.1pt">
</FONT>measure <FONT STYLE="letter-spacing: 0.05pt">f</FONT>air value.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Enbridge<FONT STYLE="letter-spacing: -0.55pt">
</FONT>Employee<FONT STYLE="letter-spacing: -0.6pt"> </FONT>Services,<FONT STYLE="letter-spacing: -0.5pt"> </FONT>Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Employees&rsquo;
Savings<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Notes
to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Financial<FONT STYLE="letter-spacing: -0.55pt"> </FONT>Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>December<FONT STYLE="letter-spacing: -0.6pt">
</FONT>31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014<FONT STYLE="letter-spacing: -0.3pt"> </FONT>and<FONT STYLE="letter-spacing: -0.25pt">
</FONT>2013</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">Following<FONT STYLE="letter-spacing: -0.45pt">
</FONT>is<FONT STYLE="letter-spacing: -0.1pt"> </FONT>a<FONT STYLE="letter-spacing: -0.05pt"> </FONT>description<FONT STYLE="letter-spacing: -0.5pt">
</FONT>of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the<FONT STYLE="letter-spacing: -0.15pt"> </FONT>valuat<FONT STYLE="letter-spacing: -0.05pt">i</FONT>on<FONT STYLE="letter-spacing: -0.4pt">
</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ethodo<FONT STYLE="letter-spacing: 0.05pt">l</FONT>ogies<FONT STYLE="letter-spacing: -0.65pt">
</FONT>used<FONT STYLE="letter-spacing: -0.2pt"> </FONT>for<FONT STYLE="letter-spacing: -0.15pt"> </FONT>asse<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s<FONT STYLE="letter-spacing: -0.2pt">
</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">e</FONT>asu<FONT STYLE="letter-spacing: 0.05pt">r</FONT>ed<FONT STYLE="letter-spacing: -0.4pt">
</FONT>at<FONT STYLE="letter-spacing: -0.1pt"> </FONT>fair<FONT STYLE="letter-spacing: -0.15pt"> </FONT>value:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 94%; border-collapse: collapse; margin-left: 26pt">
<tr style="vertical-align: top">
    <TD STYLE="width: 40%; text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif"><i>Common Stocks:</i></font></td>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 58%; text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Valued<font style="letter-spacing: 1.45pt"> </font>at<font style="letter-spacing: 1.65pt"> </font>t<font style="letter-spacing: 0.1pt">h</font>e<font style="letter-spacing: 1.6pt"> </font>closing<font style="letter-spacing: 1.45pt"> </font>price<font style="letter-spacing: 1.55pt"> </font>reported<font style="letter-spacing: 1.4pt"> </font><font style="letter-spacing: 0.1pt">o</font>n<font style="letter-spacing: 1.7pt"> </font>the<font style="letter-spacing: 1.6pt"> </font>New<font style="letter-spacing: 1.6pt"> </font><font style="letter-spacing: 0.05pt">Yo</font>rk Stock<font style="letter-spacing: 2.4pt"> </font>Exchange<font style="letter-spacing: 2.2pt"> </font>on<font style="letter-spacing: 2.55pt"> </font>the<font style="letter-spacing: 2.5pt"> </font>last<font style="letter-spacing: 2.5pt"> </font>business<font style="letter-spacing: 2.35pt"> </font>day<font style="letter-spacing: 2.55pt"> </font>of<font style="letter-spacing: 2.55pt"> </font>the<font style="letter-spacing: 2.5pt"> </font>Plan&rsquo;s fiscal <font style="letter-spacing: 0.1pt">y</font>ear.</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</td>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; letter-spacing: -0.05pt"><i>M</i></font><i><font style="font-family: Times New Roman, Times, Serif; letter-spacing: 0.05pt">u</font></i><i><font style="font-family: Times New Roman, Times, Serif">tual<font style="letter-spacing: -0.3pt"> </font>Fu<font style="letter-spacing: -0.05pt">nd</font>s:</font></i></td>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Valued<font style="letter-spacing: 0.55pt"> </font>at<font style="letter-spacing: 0.75pt"> </font>the<font style="letter-spacing: 0.7pt"> </font>quoted<font style="letter-spacing: 0.55pt"> </font><font style="letter-spacing: -0.1pt">m</font>arket<font style="letter-spacing: 0.55pt"> </font>prices,<font style="letter-spacing: 0.55pt"> </font>wh<font style="letter-spacing: 0.05pt">i</font>ch<font style="letter-spacing: 0.6pt"> </font>represent<font style="letter-spacing: 0.45pt"> </font>the net<font style="letter-spacing: -0.15pt"> </font>asset<font style="letter-spacing: -0.2pt"> </font>val<font style="letter-spacing: 0.1pt">u</font>e<font style="letter-spacing: -0.25pt"> </font>of<font style="letter-spacing: -0.1pt"> </font>shares<font style="letter-spacing: -0.25pt"> </font>h<font style="letter-spacing: 0.05pt">e</font>ld<font style="letter-spacing: -0.2pt"> </font>by the<font style="letter-spacing: -0.15pt"> </font>Plan<font style="letter-spacing: -0.2pt"> </font>at<font style="letter-spacing: -0.1pt"> </font><font style="letter-spacing: 0.1pt">y</font>ear<font style="letter-spacing: -0.2pt"> </font>end.</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</td>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif"><i>Common<font style="letter-spacing: -0.4pt"> </font>and<font style="letter-spacing: -0.15pt"> </font>Collective<font style="letter-spacing: -0.45pt"> </font>Trust<font style="letter-spacing: -0.25pt"> </font>Funds:</i></font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Valued at<font style="letter-spacing: 0.3pt"> </font>the<font style="letter-spacing: 0.2pt"> </font>net<font style="letter-spacing: 0.15pt"> </font><font style="letter-spacing: 0.05pt">a</font>sset<font style="letter-spacing: 0.2pt"> </font>va<font style="letter-spacing: 0.05pt">lu</font>e,<font style="letter-spacing: 0.05pt"> </font>refer<font style="letter-spacing: 0.05pt">r</font>ed<font style="letter-spacing: -0.05pt"> </font><font style="letter-spacing: 0.05pt">t</font>o<font style="letter-spacing: 0.25pt"> </font>herein as<font style="letter-spacing: 0.25pt"> </font><font style="letter-spacing: 0.05pt">N</font>AV, of<font style="letter-spacing: 0.1pt"> </font>the<font style="letter-spacing: 0.1pt"> </font>trust <font style="letter-spacing: 0.1pt">u</font><font style="letter-spacing: 0.05pt">n</font>its held by<font style="letter-spacing: 0.2pt"> </font>the<font style="letter-spacing: 0.1pt"> </font>Plan at<font style="letter-spacing: 0.2pt"> </font><font style="letter-spacing: 0.1pt">y</font>ear end.<font style="letter-spacing: 0.05pt"> </font>The<font style="letter-spacing: 0.1pt"> </font><font style="letter-spacing: 0.05pt">N</font>AV, as<font style="letter-spacing: 0.3pt"> </font>provided by<font style="letter-spacing: 0.4pt"> </font>the<font style="letter-spacing: 0.25pt"> </font>Trustee,<font style="letter-spacing: 0.05pt"> </font>is<font style="letter-spacing: 0.3pt"> </font>used<font style="letter-spacing: 0.2pt"> </font>as<font style="letter-spacing: 0.3pt"> </font>a<font style="letter-spacing: 0.35pt"> </font>pr<font style="letter-spacing: 0.05pt">a</font>ctical expedient<font style="letter-spacing: 1pt"> </font>to<font style="letter-spacing: 1.35pt"> </font>est<font style="letter-spacing: 0.05pt">i</font>mate<font style="letter-spacing: 1.1pt"> </font>fair<font style="letter-spacing: 1.4pt"> </font>value.<font style="letter-spacing: 1.2pt"> </font>The<font style="letter-spacing: 1.3pt"> </font><font style="letter-spacing: 0.05pt">N</font>AV<font style="letter-spacing: 1.2pt"> </font>is<font style="letter-spacing: 1.4pt"> </font>b<font style="letter-spacing: 0.05pt">a</font>sed on the fair<font style="letter-spacing: 0.4pt"> </font>value<font style="letter-spacing: 0.35pt"> </font>of the<font style="letter-spacing: 0.35pt"> </font>unde<font style="letter-spacing: -0.05pt">r</font>l<font style="letter-spacing: 0.1pt">y</font><font style="letter-spacing: -0.05pt">i</font>ng investments<font style="letter-spacing: 0.05pt"> </font>held<font style="letter-spacing: 0.4pt"> </font><font style="letter-spacing: -0.05pt">b</font>y<font style="letter-spacing: 0.4pt"> </font>the fund less its liabilities.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 0.3pt">
</FONT>methods<FONT STYLE="letter-spacing: 0.1pt"> </FONT>described<FONT STYLE="letter-spacing: 0.05pt"> </FONT>above<FONT STYLE="letter-spacing: 0.2pt">
</FONT>can<FONT STYLE="letter-spacing: 0.35pt"> </FONT>produce<FONT STYLE="letter-spacing: 0.15pt"> </FONT>a<FONT STYLE="letter-spacing: 0.45pt">
</FONT>fair<FONT STYLE="letter-spacing: 0.35pt"> </FONT>va<FONT STYLE="letter-spacing: 0.05pt">lu</FONT>e<FONT STYLE="letter-spacing: 0.25pt">
</FONT>calculation that<FONT STYLE="letter-spacing: 0.3pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ay<FONT STYLE="letter-spacing: 0.4pt">
</FONT>not<FONT STYLE="letter-spacing: 0.35pt"> </FONT>be<FONT STYLE="letter-spacing: 0.4pt"> </FONT>indicat<FONT STYLE="letter-spacing: -0.05pt">i</FONT><FONT STYLE="letter-spacing: 0.05pt">v</FONT>e<FONT STYLE="letter-spacing: 0.05pt">
</FONT>of<FONT STYLE="letter-spacing: 0.4pt"> </FONT>net realizable<FONT STYLE="letter-spacing: 0.05pt"> </FONT>va<FONT STYLE="letter-spacing: 0.05pt">lu</FONT>e<FONT STYLE="letter-spacing: 0.25pt">
</FONT>or<FONT STYLE="letter-spacing: 0.4pt"> </FONT>reflect<FONT STYLE="letter-spacing: 0.05pt">iv</FONT>e<FONT STYLE="letter-spacing: 0.1pt">
</FONT>of<FONT STYLE="letter-spacing: 0.4pt"> </FONT>future<FONT STYLE="letter-spacing: 0.25pt"> </FONT>fair<FONT STYLE="letter-spacing: 0.35pt">
</FONT>values. <FONT STYLE="letter-spacing: 0.7pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">Fu</FONT>rther<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ore,<FONT STYLE="letter-spacing: -0.05pt">
</FONT>while<FONT STYLE="letter-spacing: 0.25pt"> </FONT>the<FONT STYLE="letter-spacing: 0.35pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.3pt">
</FONT>believes<FONT STYLE="letter-spacing: 0.15pt"> </FONT>its<FONT STYLE="letter-spacing: 0.4pt"> </FONT>valuation methods<FONT STYLE="letter-spacing: 0.15pt">
</FONT>are<FONT STYLE="letter-spacing: 0.4pt"> </FONT>appropriate<FONT STYLE="letter-spacing: 0.05pt"> </FONT>and<FONT STYLE="letter-spacing: 0.4pt">
</FONT>con<FONT STYLE="letter-spacing: -0.1pt">s</FONT>istent<FONT STYLE="letter-spacing: 0.1pt"> </FONT>with<FONT STYLE="letter-spacing: 0.35pt">
</FONT>other<FONT STYLE="letter-spacing: 0.4pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">a</FONT>rket<FONT STYLE="letter-spacing: 0.35pt">
</FONT>participants, the<FONT STYLE="letter-spacing: 0.4pt"> </FONT>use<FONT STYLE="letter-spacing: 0.4pt"> </FONT>of<FONT STYLE="letter-spacing: 0.55pt">
</FONT>differe<FONT STYLE="letter-spacing: 0.1pt">n</FONT>t methodologi<FONT STYLE="letter-spacing: -0.05pt">e</FONT>s<FONT STYLE="letter-spacing: -0.4pt">
</FONT>or<FONT STYLE="letter-spacing: 0.15pt"> </FONT>ass<FONT STYLE="letter-spacing: 0.1pt">u</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>tions<FONT STYLE="letter-spacing: -0.3pt">
</FONT>to<FONT STYLE="letter-spacing: 0.15pt"> </FONT>determine the<FONT STYLE="letter-spacing: 0.1pt"> </FONT>fair<FONT STYLE="letter-spacing: 0.1pt">
</FONT>v<FONT STYLE="letter-spacing: 0.05pt">a</FONT>lue of<FONT STYLE="letter-spacing: 0.15pt"> </FONT>certa<FONT STYLE="letter-spacing: 0.05pt">i</FONT>n
financial instr<FONT STYLE="letter-spacing: 0.1pt">u</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ents c<FONT STYLE="letter-spacing: 0.1pt">o</FONT>uld
result in<FONT STYLE="letter-spacing: -0.1pt"> </FONT>a<FONT STYLE="letter-spacing: -0.05pt"> </FONT>different<FONT STYLE="letter-spacing: -0.4pt">
</FONT>fair value <FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">e</FONT>asurement at<FONT STYLE="letter-spacing: -0.1pt">
</FONT>the reporting date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">In<FONT STYLE="letter-spacing: 0.45pt">
</FONT>accordance<FONT STYLE="letter-spacing: 0.05pt"> </FONT>with<FONT STYLE="letter-spacing: 0.35pt"> </FONT>authoritative guidance,<FONT STYLE="letter-spacing: 0.15pt">
</FONT>the<FONT STYLE="letter-spacing: 0.4pt"> </FONT>Stable<FONT STYLE="letter-spacing: 0.35pt"> </FONT>Value<FONT STYLE="letter-spacing: 0.3pt">
</FONT>Trust<FONT STYLE="letter-spacing: 0.35pt"> </FONT>Fund,<FONT STYLE="letter-spacing: 0.3pt"> </FONT>which<FONT STYLE="letter-spacing: 0.25pt">
</FONT>is<FONT STYLE="letter-spacing: 0.5pt"> </FONT>considered<FONT STYLE="letter-spacing: 0.1pt"> </FONT>a<FONT STYLE="letter-spacing: 0.5pt">
</FONT>fully benefit-responsive investment<FONT STYLE="letter-spacing: 0.35pt"> </FONT>contract,<FONT STYLE="letter-spacing: 0.45pt">
</FONT>is<FONT STYLE="letter-spacing: 0.75pt"> </FONT>included<FONT STYLE="letter-spacing: 0.45pt"> </FONT>at<FONT STYLE="letter-spacing: 0.7pt">
</FONT>its<FONT STYLE="letter-spacing: 0.7pt"> </FONT>fair<FONT STYLE="letter-spacing: 0.65pt"> </FONT>value<FONT STYLE="letter-spacing: 0.55pt">
</FONT>in<FONT STYLE="letter-spacing: 0.75pt"> </FONT>the<FONT STYLE="letter-spacing: 0.7pt"> </FONT>State<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ents<FONT STYLE="letter-spacing: 0.35pt">
</FONT>of<FONT STYLE="letter-spacing: 0.8pt"> </FONT>Net<FONT STYLE="letter-spacing: 0.65pt"> </FONT>Assets Available<FONT STYLE="letter-spacing: 0.1pt">
</FONT>for<FONT STYLE="letter-spacing: 0.45pt"> </FONT>Benefits, a<FONT STYLE="letter-spacing: 0.1pt">n</FONT>d<FONT STYLE="letter-spacing: 0.4pt">
</FONT>an<FONT STYLE="letter-spacing: 0.45pt"> </FONT>additional<FONT STYLE="letter-spacing: 0.1pt"> </FONT>line<FONT STYLE="letter-spacing: 0.4pt">
</FONT>item<FONT STYLE="letter-spacing: 0.35pt"> </FONT>is<FONT STYLE="letter-spacing: 0.45pt"> </FONT>presented<FONT STYLE="letter-spacing: 0.1pt">
</FONT><FONT STYLE="letter-spacing: 0.05pt">re</FONT>presenting the<FONT STYLE="letter-spacing: 0.4pt"> </FONT>adjus<FONT STYLE="letter-spacing: 0.05pt">t</FONT>ment<FONT STYLE="letter-spacing: 0.1pt">
</FONT>from<FONT STYLE="letter-spacing: 0.35pt"> </FONT>fair value<FONT STYLE="letter-spacing: 0.25pt"> </FONT>to<FONT STYLE="letter-spacing: 0.4pt">
</FONT>contract<FONT STYLE="letter-spacing: 0.1pt"> </FONT>value. The<FONT STYLE="letter-spacing: 0.3pt"> </FONT>cont<FONT STYLE="letter-spacing: 0.05pt">r</FONT>act<FONT STYLE="letter-spacing: 0.1pt">
</FONT>value<FONT STYLE="letter-spacing: 0.25pt"> </FONT>is<FONT STYLE="letter-spacing: 0.4pt"> </FONT>the<FONT STYLE="letter-spacing: 0.35pt">
</FONT>a<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ount<FONT STYLE="letter-spacing: 0.15pt"> </FONT>a<FONT STYLE="letter-spacing: 0.4pt">
</FONT>participant would<FONT STYLE="letter-spacing: 0.1pt"> </FONT>receive<FONT STYLE="letter-spacing: 0.15pt"> </FONT>if<FONT STYLE="letter-spacing: 0.4pt">
</FONT>they<FONT STYLE="letter-spacing: 0.3pt"> </FONT>were<FONT STYLE="letter-spacing: 0.25pt"> </FONT>to initiate pe<FONT STYLE="letter-spacing: 0.05pt">r</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">i</FONT>tted<FONT STYLE="letter-spacing: -0.1pt">
</FONT>transact<FONT STYLE="letter-spacing: 0.05pt">i</FONT>ons under<FONT STYLE="letter-spacing: 0.05pt"> </FONT>the<FONT STYLE="letter-spacing: 0.1pt">
</FONT>te<FONT STYLE="letter-spacing: 0.05pt">r</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>s<FONT STYLE="letter-spacing: 0.05pt">
</FONT>of the<FONT STYLE="letter-spacing: 0.25pt"> </FONT>ongoing plan. <FONT STYLE="letter-spacing: 0.45pt"> </FONT>The<FONT STYLE="letter-spacing: 0.15pt">
</FONT>Statement of Changes<FONT STYLE="letter-spacing: -0.1pt"> </FONT>in Net Asse<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s
Avail<FONT STYLE="letter-spacing: 0.05pt">a</FONT>ble for Benefits is present<FONT STYLE="letter-spacing: 0.05pt">e</FONT>d on<FONT STYLE="letter-spacing: -0.1pt">
</FONT>a contract value basi<FONT STYLE="letter-spacing: 0.05pt">s</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">Purchases<FONT STYLE="letter-spacing: -0.25pt">
</FONT>a<FONT STYLE="letter-spacing: 0.1pt">n</FONT>d<FONT STYLE="letter-spacing: 0.05pt"> </FONT>sales of<FONT STYLE="letter-spacing: 0.1pt">
</FONT>securities<FONT STYLE="letter-spacing: -0.2pt"> </FONT>are<FONT STYLE="letter-spacing: 0.05pt"> </FONT>recorded<FONT STYLE="letter-spacing: -0.2pt">
</FONT>on<FONT STYLE="letter-spacing: 0.1pt"> </FONT>a<FONT STYLE="letter-spacing: 0.15pt"> </FONT>tr<FONT STYLE="letter-spacing: -0.05pt">a</FONT><FONT STYLE="letter-spacing: 0.05pt">d</FONT>e
date basis.<FONT STYLE="letter-spacing: -0.05pt"> </FONT>Interest<FONT STYLE="letter-spacing: -0.15pt"> </FONT>income<FONT STYLE="letter-spacing: -0.1pt">
</FONT>is<FONT STYLE="letter-spacing: 0.15pt"> </FONT>recorded<FONT STYLE="letter-spacing: -0.2pt"> </FONT>on<FONT STYLE="letter-spacing: 0.1pt">
</FONT>the accrual<FONT STYLE="letter-spacing: -0.3pt"> </FONT>bas<FONT STYLE="letter-spacing: 0.05pt">i</FONT>s.<FONT STYLE="letter-spacing: -0.25pt">
</FONT>Dividends<FONT STYLE="letter-spacing: -0.45pt"> </FONT>are<FONT STYLE="letter-spacing: -0.15pt"> </FONT>recorded<FONT STYLE="letter-spacing: -0.4pt">
</FONT>on<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the<FONT STYLE="letter-spacing: -0.15pt"> </FONT>ex-divid<FONT STYLE="letter-spacing: -0.05pt">e</FONT>nd<FONT STYLE="letter-spacing: -0.55pt">
</FONT>date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 0.2pt">
</FONT>Plan<FONT STYLE="letter-spacing: 0.2pt"> </FONT>presents<FONT STYLE="letter-spacing: 0.05pt"> </FONT>in<FONT STYLE="letter-spacing: 0.3pt">
</FONT>the<FONT STYLE="letter-spacing: 0.25pt"> </FONT>Stat<FONT STYLE="letter-spacing: 0.05pt">e</FONT>ment of<FONT STYLE="letter-spacing: 0.3pt">
</FONT>Changes in<FONT STYLE="letter-spacing: 0.25pt"> </FONT>Net<FONT STYLE="letter-spacing: 0.2pt"> </FONT>A<FONT STYLE="letter-spacing: 0.05pt">s</FONT>se<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s<FONT STYLE="letter-spacing: 0.05pt">
</FONT>Available for<FONT STYLE="letter-spacing: 0.2pt"> </FONT>Benefits the<FONT STYLE="letter-spacing: 0.2pt"> </FONT>net appreciation
and<FONT STYLE="letter-spacing: 0.4pt"> </FONT>depreciation <FONT STYLE="letter-spacing: -0.05pt">i</FONT>n<FONT STYLE="letter-spacing: 0.5pt">
</FONT>fair<FONT STYLE="letter-spacing: 0.4pt"> </FONT>v<FONT STYLE="letter-spacing: -0.05pt">a</FONT>lue<FONT STYLE="letter-spacing: 0.3pt">
</FONT>of<FONT STYLE="letter-spacing: 0.45pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">i</FONT>nves<FONT STYLE="letter-spacing: -0.05pt">t</FONT>ments,
which<FONT STYLE="letter-spacing: 0.3pt"> </FONT>consists<FONT STYLE="letter-spacing: 0.2pt"> </FONT>of<FONT STYLE="letter-spacing: 0.45pt">
</FONT>net<FONT STYLE="letter-spacing: 0.4pt"> </FONT>realized<FONT STYLE="letter-spacing: 0.2pt"> </FONT>gains<FONT STYLE="letter-spacing: 0.3pt">
</FONT>and losses<FONT STYLE="letter-spacing: -0.25pt"> </FONT>and<FONT STYLE="letter-spacing: -0.15pt"> </FONT>the<FONT STYLE="letter-spacing: -0.15pt">
</FONT>unrealized<FONT STYLE="letter-spacing: -0.45pt"> </FONT>appreciation<FONT STYLE="letter-spacing: -0.55pt"> </FONT>and<FONT STYLE="letter-spacing: -0.15pt">
</FONT>depreciation<FONT STYLE="letter-spacing: -0.55pt"> </FONT>on<FONT STYLE="letter-spacing: -0.1pt"> </FONT>those<FONT STYLE="letter-spacing: -0.25pt">
</FONT>inves<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>Notes<FONT STYLE="letter-spacing: -0.25pt">
</FONT>R<FONT STYLE="letter-spacing: 0.05pt">e</FONT>cei<FONT STYLE="letter-spacing: 0.05pt">v</FONT>able<FONT STYLE="letter-spacing: -0.5pt">
</FONT>from<FONT STYLE="letter-spacing: -0.2pt"> </FONT>Participants</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">Notes<FONT STYLE="letter-spacing: 0.95pt">
</FONT>receivable<FONT STYLE="letter-spacing: 0.75pt"> </FONT>fr<FONT STYLE="letter-spacing: 0.1pt">o</FONT>m<FONT STYLE="letter-spacing: 0.95pt">
</FONT>par<FONT STYLE="letter-spacing: 0.05pt">t</FONT>icipants<FONT STYLE="letter-spacing: 0.7pt"> </FONT>are<FONT STYLE="letter-spacing: 1.15pt">
</FONT>measured<FONT STYLE="letter-spacing: 0.8pt"> </FONT>at<FONT STYLE="letter-spacing: 1.1pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">th</FONT>eir<FONT STYLE="letter-spacing: 1pt">
</FONT>unpaid<FONT STYLE="letter-spacing: 0.9pt"> </FONT>principal<FONT STYLE="letter-spacing: 0.8pt"> </FONT>balance<FONT STYLE="letter-spacing: 0.85pt">
</FONT>plus<FONT STYLE="letter-spacing: 1pt"> </FONT>any<FONT STYLE="letter-spacing: 1.15pt"> </FONT>accrued but<FONT STYLE="letter-spacing: -0.15pt">
</FONT>unpaid<FONT STYLE="letter-spacing: -0.3pt"> </FONT>in<FONT STYLE="letter-spacing: -0.05pt">t</FONT>erest.<FONT STYLE="letter-spacing: -0.35pt">
</FONT>Delinquent participant loans are<FONT STYLE="letter-spacing: -0.15pt"> </FONT>reclassified as a<FONT STYLE="letter-spacing: -0.05pt">
</FONT>distribution based upon <FONT STYLE="letter-spacing: -0.05pt">th</FONT>e<FONT STYLE="letter-spacing: -0.15pt"> </FONT>te<FONT STYLE="letter-spacing: 0.05pt">r</FONT>ms
of the<FONT STYLE="letter-spacing: -0.15pt"> </FONT>Plan doc<FONT STYLE="letter-spacing: 0.1pt">u</FONT>ment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>Benefit<FONT STYLE="letter-spacing: -0.35pt">
</FONT>Payments</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">Benefit<FONT STYLE="letter-spacing: -0.3pt">
</FONT>distributions<FONT STYLE="letter-spacing: -0.55pt"> </FONT>are<FONT STYLE="letter-spacing: -0.15pt"> </FONT>recorded<FONT STYLE="letter-spacing: -0.4pt">
</FONT>when<FONT STYLE="letter-spacing: -0.25pt"> </FONT>paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Enbridge<FONT STYLE="letter-spacing: -0.55pt">
</FONT>Employee<FONT STYLE="letter-spacing: -0.6pt"> </FONT>Services,<FONT STYLE="letter-spacing: -0.5pt"> </FONT>Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Employees&rsquo;
Savings<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Notes
to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Financial<FONT STYLE="letter-spacing: -0.55pt"> </FONT>Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>December<FONT STYLE="letter-spacing: -0.6pt">
</FONT>31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014<FONT STYLE="letter-spacing: -0.3pt"> </FONT>and<FONT STYLE="letter-spacing: -0.25pt">
</FONT>2013</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>Risks<FONT STYLE="letter-spacing: -0.25pt">
</FONT>and<FONT STYLE="letter-spacing: -0.15pt"> </FONT>Uncertainties</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 0.75pt">
</FONT>Plan<FONT STYLE="letter-spacing: 0.7pt"> </FONT>provides<FONT STYLE="letter-spacing: 0.5pt"> </FONT>investment<FONT STYLE="letter-spacing: 0.4pt">
</FONT>options<FONT STYLE="letter-spacing: 0.6pt"> </FONT>in<FONT STYLE="letter-spacing: 0.8pt"> </FONT>various<FONT STYLE="letter-spacing: 0.6pt">
</FONT>c<FONT STYLE="letter-spacing: 0.05pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">b</FONT>inations<FONT STYLE="letter-spacing: 0.4pt">
</FONT>of<FONT STYLE="letter-spacing: 0.8pt"> </FONT>investment<FONT STYLE="letter-spacing: 0.4pt"> </FONT>securities. <FONT STYLE="letter-spacing: 1.4pt">
</FONT><FONT STYLE="letter-spacing: 0.05pt">I</FONT>nves<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent
securities<FONT STYLE="letter-spacing: 0.05pt"> </FONT>are<FONT STYLE="letter-spacing: 0.3pt"> </FONT>exposed<FONT STYLE="letter-spacing: 0.05pt">
</FONT>to<FONT STYLE="letter-spacing: 0.35pt"> </FONT>various<FONT STYLE="letter-spacing: 0.1pt"> </FONT>risks<FONT STYLE="letter-spacing: 0.2pt">
</FONT>such<FONT STYLE="letter-spacing: 0.2pt"> </FONT>as<FONT STYLE="letter-spacing: 0.3pt"> </FONT>fore<FONT STYLE="letter-spacing: 0.05pt">i</FONT>gn<FONT STYLE="letter-spacing: 0.1pt">
</FONT>currency<FONT STYLE="letter-spacing: 0.1pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">e</FONT><FONT STYLE="letter-spacing: 0.05pt">x</FONT>change
rate,<FONT STYLE="letter-spacing: 0.2pt"> </FONT>interest<FONT STYLE="letter-spacing: 0.1pt"> </FONT>rate,<FONT STYLE="letter-spacing: 0.3pt">
</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>arket, and<FONT STYLE="letter-spacing: 0.95pt"> </FONT>credit risks. Due to
<FONT STYLE="letter-spacing: 0.05pt">th</FONT>e<FONT STYLE="letter-spacing: 0.95pt"> </FONT>level of r<FONT STYLE="letter-spacing: 0.05pt">i</FONT>sk<FONT STYLE="letter-spacing: 0.95pt">
</FONT>assoc<FONT STYLE="letter-spacing: 0.05pt">i</FONT>ated<FONT STYLE="letter-spacing: 0.75pt"> </FONT>with cer<FONT STYLE="letter-spacing: 0.05pt">t</FONT>ain<FONT STYLE="letter-spacing: 0.8pt">
</FONT>inves<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent<FONT STYLE="letter-spacing: 0.6pt">
</FONT>securities, it is at least reasonably possible that<FONT STYLE="letter-spacing: 0.05pt"> </FONT>changes in<FONT STYLE="letter-spacing: 0.1pt">
</FONT>the values<FONT STYLE="letter-spacing: -0.1pt"> </FONT>of<FONT STYLE="letter-spacing: 0.1pt"> </FONT>i<FONT STYLE="letter-spacing: 0.1pt">n</FONT>ves<FONT STYLE="letter-spacing: 0.05pt">t</FONT>ment
secu<FONT STYLE="letter-spacing: 0.05pt">r</FONT>ities will<FONT STYLE="letter-spacing: 0.05pt"> </FONT>occur<FONT STYLE="letter-spacing: -0.05pt">
</FONT>in<FONT STYLE="letter-spacing: 0.1pt"> </FONT>the<FONT STYLE="letter-spacing: 0.05pt"> </FONT>near te<FONT STYLE="letter-spacing: 0.05pt">r</FONT>m<FONT STYLE="letter-spacing: -0.1pt">
</FONT>and that<FONT STYLE="letter-spacing: -0.05pt"> </FONT>such<FONT STYLE="letter-spacing: -0.1pt"> </FONT>changes could materially
affect parti<FONT STYLE="letter-spacing: -0.05pt">c</FONT>ipant account balances and<FONT STYLE="letter-spacing: -0.05pt"> </FONT>the<FONT STYLE="letter-spacing: -0.05pt">
</FONT>amounts report<FONT STYLE="letter-spacing: -0.05pt">e</FONT>d in these financial stat<FONT STYLE="letter-spacing: 0.05pt">e</FONT>ments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>Plan<FONT STYLE="letter-spacing: -0.2pt">
</FONT>Management&rsquo;s<FONT STYLE="letter-spacing: -0.7pt"> </FONT>Rev<FONT STYLE="letter-spacing: 0.05pt">i</FONT>ew<FONT STYLE="letter-spacing: -0.3pt">
</FONT>of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Subsequent<FONT STYLE="letter-spacing: -0.55pt"> </FONT>Events</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">In preparing<FONT STYLE="letter-spacing: -0.3pt">
</FONT><FONT STYLE="letter-spacing: -0.05pt">t</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>e<FONT STYLE="letter-spacing: -0.05pt">
</FONT>acc<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>a<FONT STYLE="letter-spacing: 0.1pt">ny</FONT><FONT STYLE="letter-spacing: -0.05pt">i</FONT>ng<FONT STYLE="letter-spacing: -0.55pt">
</FONT>f<FONT STYLE="letter-spacing: -0.05pt">i</FONT>nancial<FONT STYLE="letter-spacing: -0.3pt"> </FONT>statements,<FONT STYLE="letter-spacing: -0.5pt">
</FONT>Plan<FONT STYLE="letter-spacing: -0.1pt"> </FONT>management<FONT STYLE="letter-spacing: -0.45pt"> </FONT>has<FONT STYLE="letter-spacing: -0.05pt">
</FONT>reviewed<FONT STYLE="letter-spacing: -0.3pt"> </FONT>all known<FONT STYLE="letter-spacing: -0.2pt"> </FONT>events that<FONT STYLE="letter-spacing: 2.25pt">
</FONT>have<FONT STYLE="letter-spacing: 2.2pt"> </FONT>o<FONT STYLE="letter-spacing: -0.05pt">c</FONT>curred<FONT STYLE="letter-spacing: 2pt">
</FONT>after<FONT STYLE="letter-spacing: 2.2pt"> </FONT>December<FONT STYLE="letter-spacing: 1.95pt"> </FONT>31,<FONT STYLE="letter-spacing: 2.25pt">
</FONT>2014,<FONT STYLE="letter-spacing: 2.15pt"> </FONT>a<FONT STYLE="letter-spacing: -0.05pt">n</FONT>d<FONT STYLE="letter-spacing: 2.15pt">
</FONT>throu<FONT STYLE="letter-spacing: -0.05pt">g</FONT>h<FONT STYLE="letter-spacing: 2.05pt"> </FONT>June 26, 2<FONT STYLE="letter-spacing: -0.05pt">0</FONT>15,
which<FONT STYLE="letter-spacing: 2.15pt"> </FONT>is the<FONT STYLE="letter-spacing: 2.25pt"> </FONT>date<FONT STYLE="letter-spacing: 2.2pt">
</FONT>these financial stat<FONT STYLE="letter-spacing: 0.05pt">e</FONT>ments<FONT STYLE="letter-spacing: -0.45pt"> </FONT>w<FONT STYLE="letter-spacing: 0.05pt">e</FONT>re<FONT STYLE="letter-spacing: -0.2pt">
</FONT>i<FONT STYLE="letter-spacing: 0.05pt">s</FONT>sued,<FONT STYLE="letter-spacing: -0.3pt"> </FONT>for inclus<FONT STYLE="letter-spacing: -0.05pt">i</FONT>on
in these f<FONT STYLE="letter-spacing: -0.05pt">i</FONT>nancial statements<FONT STYLE="letter-spacing: -0.45pt"> </FONT>and related
notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt"><B><I>Recently Issued Accounting Standards</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">In May 2015, the FASB issued Accounting
Standards Update (&ldquo;ASU&rdquo;) No. 2015-07, &rdquo;<I>Disclosures for Investments in Certain Entities That Calculate Net
Asset Value per Share (or Its Equivalent).</I>&rdquo; ASU 2015-07 removes the requirement to include investments in the fair value
hierarchy for which fair value is measured using the net asset value per share practical expedient under ASC 820. ASU 2015-07 is
effective for the Plan retrospectively for the year ending December 31, 2016 with early adoption permitted. We believe the adoption
of this guidance concerns disclosure only and will not have an impact on the Plan&rsquo;s financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Note 3:</B></TD><TD STYLE="text-align: justify"><B>Inco<FONT STYLE="letter-spacing: -0.05pt">m</FONT>e
Tax<FONT STYLE="letter-spacing: -0.2pt"> </FONT>Status</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 1.2pt"> </FONT>Internal<FONT STYLE="letter-spacing: 1pt"> </FONT>Revenue<FONT STYLE="letter-spacing: 0.95pt"> </FONT>Se<FONT STYLE="letter-spacing: 0.05pt">rv</FONT>ice
issued<FONT STYLE="letter-spacing: 1.05pt"> </FONT>a<FONT STYLE="letter-spacing: 1.35pt"> </FONT>favorable<FONT STYLE="letter-spacing: 0.95pt"> </FONT>tax<FONT STYLE="letter-spacing: 1.2pt"> </FONT>deter<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ination<FONT STYLE="letter-spacing: 0.75pt"> </FONT>letter<FONT STYLE="letter-spacing: 1.1pt"> </FONT>to<FONT STYLE="letter-spacing: 1.15pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">t</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>e
Plan<FONT STYLE="letter-spacing: 1.15pt"> </FONT>on<FONT STYLE="letter-spacing: 1.2pt"> </FONT>March<FONT STYLE="letter-spacing: 1.05pt"> </FONT>13,
2012, cover<FONT STYLE="letter-spacing: -0.05pt">i</FONT>ng plan<FONT STYLE="letter-spacing: 0.2pt"> </FONT>amend<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ents
through<FONT STYLE="letter-spacing: 0.1pt"> </FONT>N<FONT STYLE="letter-spacing: -0.05pt">o</FONT>ve<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.1pt">b</FONT>er
18, <FONT STYLE="letter-spacing: -0.05pt">2</FONT>010. The Plan has been amended since receiving the determination letter.
However, the Plan administrator and the Plan&rsquo;s tax counsel believe that the Plan is currently designed and being
operated in compliance with the applicable requirements of the Internal Revenue Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">GAAP<FONT STYLE="letter-spacing: 1.35pt">
</FONT>requires<FONT STYLE="letter-spacing: 1.3pt"> </FONT>Plan<FONT STYLE="letter-spacing: 1.5pt"> </FONT>manage<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent<FONT STYLE="letter-spacing: 1.1pt">
</FONT>to<FONT STYLE="letter-spacing: 1.55pt"> </FONT>evaluate<FONT STYLE="letter-spacing: 1.3pt"> </FONT>tax<FONT STYLE="letter-spacing: 1.45pt">
</FONT>positions<FONT STYLE="letter-spacing: 1.25pt"> </FONT>taken<FONT STYLE="letter-spacing: 1.4pt"> </FONT>by<FONT STYLE="letter-spacing: 1.6pt">
</FONT>the<FONT STYLE="letter-spacing: 1.5pt"> </FONT>Plan<FONT STYLE="letter-spacing: 1.4pt"> </FONT>and<FONT STYLE="letter-spacing: 1.5pt">
</FONT>recognize<FONT STYLE="letter-spacing: 1.2pt"> </FONT>a<FONT STYLE="letter-spacing: 1.6pt"> </FONT>tax liability<FONT STYLE="letter-spacing: 0.15pt">
</FONT>(or<FONT STYLE="letter-spacing: 0.3pt"> </FONT>asset)<FONT STYLE="letter-spacing: 0.15pt"> </FONT>if<FONT STYLE="letter-spacing: 0.35pt">
</FONT>the<FONT STYLE="letter-spacing: 0.25pt"> </FONT>Plan has<FONT STYLE="letter-spacing: 0.25pt"> </FONT>taken an<FONT STYLE="letter-spacing: 0.3pt">
</FONT>uncertain position that <FONT STYLE="letter-spacing: -0.1pt">m</FONT>ore likely<FONT STYLE="letter-spacing: 0.25pt"> </FONT>than
not<FONT STYLE="letter-spacing: 0.25pt"> </FONT>would<FONT STYLE="letter-spacing: 0.15pt"> </FONT>not<FONT STYLE="letter-spacing: 0.25pt">
</FONT>be sustained upon exa<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ination by<FONT STYLE="letter-spacing: 1.2pt"> </FONT>the
Internal Revenue Service. The plan ad<FONT STYLE="letter-spacing: -0.1pt">m</FONT>inistrator has analyzed the<FONT STYLE="letter-spacing: 0.3pt">
</FONT>tax<FONT STYLE="letter-spacing: 0.3pt"> </FONT>positions taken by<FONT STYLE="letter-spacing: 0.35pt"> </FONT>the<FONT STYLE="letter-spacing: 0.3pt">
</FONT>Plan,<FONT STYLE="letter-spacing: 0.25pt"> </FONT>and<FONT STYLE="letter-spacing: 0.3pt"> </FONT>has<FONT STYLE="letter-spacing: 0.3pt">
</FONT>concluded that<FONT STYLE="letter-spacing: 0.3pt"> </FONT>as<FONT STYLE="letter-spacing: 0.35pt"> </FONT>of<FONT STYLE="letter-spacing: 0.3pt">
</FONT>December 31,<FONT STYLE="letter-spacing: 0.3pt"> </FONT>2014, there<FONT STYLE="letter-spacing: 0.25pt"> </FONT>are<FONT STYLE="letter-spacing: 0.3pt">
</FONT>no uncertain<FONT STYLE="letter-spacing: 1.4pt"> </FONT>positions<FONT STYLE="letter-spacing: 1.4pt"> </FONT>taken<FONT STYLE="letter-spacing: 1.5pt">
</FONT>or expected<FONT STYLE="letter-spacing: 1.4pt"> </FONT>to be tak<FONT STYLE="letter-spacing: -0.1pt">e</FONT>n<FONT STYLE="letter-spacing: 1.55pt">
</FONT>that would<FONT STYLE="letter-spacing: 1.55pt"> </FONT>require<FONT STYLE="letter-spacing: 1.5pt"> </FONT>recognition<FONT STYLE="letter-spacing: 1.3pt">
</FONT>of a liability<FONT STYLE="letter-spacing: 1.55pt"> </FONT>(or asset)<FONT STYLE="letter-spacing: 0.25pt"> </FONT>or<FONT STYLE="letter-spacing: 0.35pt">
</FONT>disclosure in<FONT STYLE="letter-spacing: 0.35pt"> </FONT>these<FONT STYLE="letter-spacing: 0.3pt"> </FONT>financial statements.
The<FONT STYLE="letter-spacing: 0.25pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.25pt"> </FONT>is<FONT STYLE="letter-spacing: 0.35pt">
</FONT>subject<FONT STYLE="letter-spacing: 0.15pt"> </FONT>to<FONT STYLE="letter-spacing: 0.35pt"> </FONT>routine<FONT STYLE="letter-spacing: 0.15pt">
</FONT>audits by taxing jurisdictions; however,<FONT STYLE="letter-spacing: 0.15pt"> </FONT>there<FONT STYLE="letter-spacing: 0.35pt">
</FONT>are currently<FONT STYLE="letter-spacing: 0.3pt"> </FONT>no audits<FONT STYLE="letter-spacing: 0.3pt"> </FONT>for any tax
periods<FONT STYLE="letter-spacing: 0.25pt"> </FONT>in progress. The plan ad<FONT STYLE="letter-spacing: -0.1pt">m</FONT>inistrator
believes it is no<FONT STYLE="letter-spacing: -0.1pt"> </FONT>longer subject to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>income
tax exa<FONT STYLE="letter-spacing: -0.1pt">m</FONT>inations for years prior to 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Enbridge<FONT STYLE="letter-spacing: -0.55pt">
</FONT>Employee<FONT STYLE="letter-spacing: -0.6pt"> </FONT>Services,<FONT STYLE="letter-spacing: -0.5pt"> </FONT>Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Employees&rsquo;
Savings<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Notes
to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Financial<FONT STYLE="letter-spacing: -0.55pt"> </FONT>Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>December<FONT STYLE="letter-spacing: -0.6pt">
</FONT>31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014<FONT STYLE="letter-spacing: -0.3pt"> </FONT>and<FONT STYLE="letter-spacing: -0.25pt">
</FONT>2013</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Note 4:</B></TD><TD STYLE="text-align: justify"><B>Investments</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 0.35pt">
</FONT>following<FONT STYLE="letter-spacing: 0.05pt"> </FONT>table<FONT STYLE="letter-spacing: 0.3pt"> </FONT>presents<FONT STYLE="letter-spacing: 0.15pt">
</FONT>the<FONT STYLE="letter-spacing: 0.35pt"> </FONT>Plan&rsquo;s<FONT STYLE="letter-spacing: 0.2pt"> </FONT>invest<FONT STYLE="letter-spacing: -0.1pt">m</FONT>en<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s,<FONT STYLE="letter-spacing: -0.05pt">
</FONT>at<FONT STYLE="letter-spacing: 0.4pt"> </FONT>fair<FONT STYLE="letter-spacing: 0.35pt"> </FONT>value<FONT STYLE="letter-spacing: 0.3pt">
</FONT>as<FONT STYLE="letter-spacing: 0.4pt"> </FONT>of<FONT STYLE="letter-spacing: 0.4pt"> </FONT>December<FONT STYLE="letter-spacing: 0.05pt">
</FONT>31,<FONT STYLE="letter-spacing: 0.35pt"> </FONT>2014<FONT STYLE="letter-spacing: 0.25pt"> </FONT>and<FONT STYLE="letter-spacing: 0.35pt">
</FONT>2013.<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Individual<FONT STYLE="letter-spacing: -0.4pt"> </FONT>inves<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ents<FONT STYLE="letter-spacing: -0.45pt">
</FONT>that<FONT STYLE="letter-spacing: -0.1pt"> </FONT>represent<FONT STYLE="letter-spacing: -0.35pt"> </FONT>5%<FONT STYLE="letter-spacing: -0.1pt">
</FONT>or<FONT STYLE="letter-spacing: -0.05pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">o</FONT>re<FONT STYLE="letter-spacing: -0.2pt">
</FONT>of<FONT STYLE="letter-spacing: -0.05pt"> </FONT>the<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.05pt">&rsquo;</FONT>s<FONT STYLE="letter-spacing: -0.2pt">
</FONT>net<FONT STYLE="letter-spacing: -0.15pt"> </FONT>a<FONT STYLE="letter-spacing: 0.05pt">s</FONT>sets<FONT STYLE="letter-spacing: -0.2pt">
</FONT>in<FONT STYLE="letter-spacing: -0.1pt"> </FONT>eit<FONT STYLE="letter-spacing: 0.1pt">h</FONT>er <FONT STYLE="letter-spacing: 0.1pt">y</FONT>ear
are<FONT STYLE="letter-spacing: -0.15pt"> </FONT>sepa<FONT STYLE="letter-spacing: 0.05pt">r</FONT>ately<FONT STYLE="letter-spacing: -0.35pt">
</FONT>identified:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 94%; font: 10pt Times New Roman, Times, Serif; margin-left: 26pt">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center">(in thousands)</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left">Dodge and Cox Balanced Fund</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">34,878</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">33,474</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">T. Rowe Price Mid-Cap Growth Fund*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38,671</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">35,451</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">T. Rowe Price Stable Value Trust Fund*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,990</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,596</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Enbridge Inc. Stock*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">235,704</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">201,581</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other investments less than 5%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">138,095</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">122,076</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">485,338</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">427,178</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denotes
party-in-interest</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">During<FONT STYLE="letter-spacing: 0.1pt">
</FONT>2014<FONT STYLE="letter-spacing: 0.1pt"> </FONT>and<FONT STYLE="letter-spacing: 0.25pt"> </FONT>2013,<FONT STYLE="letter-spacing: 0.2pt">
</FONT>the<FONT STYLE="letter-spacing: 0.2pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.25pt"> </FONT>held<FONT STYLE="letter-spacing: 0.25pt">
</FONT>an<FONT STYLE="letter-spacing: 0.25pt"> </FONT>interest<FONT STYLE="letter-spacing: 0.1pt"> </FONT>in<FONT STYLE="letter-spacing: 0.3pt">
a </FONT>common<FONT STYLE="letter-spacing: 0.05pt"> </FONT>collective trust<FONT STYLE="letter-spacing: 0.25pt"> </FONT>fund,<FONT STYLE="letter-spacing: 0.2pt">
</FONT>the<FONT STYLE="letter-spacing: 0.3pt"> </FONT>T.<FONT STYLE="letter-spacing: 0.35pt"> </FONT>R<FONT STYLE="letter-spacing: -0.05pt">o</FONT>we<FONT STYLE="letter-spacing: 0.15pt">
</FONT>Price Stable<FONT STYLE="letter-spacing: -0.15pt"> </FONT>Value<FONT STYLE="letter-spacing: -0.15pt"> </FONT>Trust<FONT STYLE="letter-spacing: -0.15pt">
</FONT>Fund.<FONT STYLE="letter-spacing: -0.15pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">T</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>e<FONT STYLE="letter-spacing: -0.05pt">
</FONT>com<FONT STYLE="letter-spacing: -0.1pt">m</FONT>on<FONT STYLE="letter-spacing: -0.3pt"> </FONT>collective<FONT STYLE="letter-spacing: -0.35pt">
</FONT>trust<FONT STYLE="letter-spacing: -0.1pt"> </FONT>fund<FONT STYLE="letter-spacing: -0.15pt"> </FONT>invests<FONT STYLE="letter-spacing: -0.25pt">
</FONT>primarily<FONT STYLE="letter-spacing: -0.25pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">i</FONT>n a<FONT STYLE="letter-spacing: -0.05pt">
</FONT>diversified<FONT STYLE="letter-spacing: -0.4pt"> </FONT>portfolio of<FONT STYLE="letter-spacing: 0.35pt"> </FONT>invest<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent
contracts, guaranteed<FONT STYLE="letter-spacing: -0.05pt"> </FONT>inves<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent<FONT STYLE="letter-spacing: -0.05pt">
</FONT>contracts, s<FONT STYLE="letter-spacing: 0.1pt">y</FONT>nthetic<FONT STYLE="letter-spacing: -0.05pt"> </FONT>inves<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent<FONT STYLE="letter-spacing: -0.05pt">
</FONT>contracts<FONT STYLE="letter-spacing: 0.05pt"> </FONT>and<FONT STYLE="letter-spacing: 0.3pt"> </FONT>separa<FONT STYLE="letter-spacing: 0.05pt">t</FONT>e
account<FONT STYLE="letter-spacing: 0.1pt"> </FONT>contracts,<FONT STYLE="letter-spacing: 0.05pt"> </FONT>c<FONT STYLE="letter-spacing: 0.1pt">o</FONT>m<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: 0.05pt">n</FONT><FONT STYLE="letter-spacing: -0.05pt">l</FONT>y<FONT STYLE="letter-spacing: 0.05pt">
</FONT>referred<FONT STYLE="letter-spacing: 0.1pt"> </FONT>to<FONT STYLE="letter-spacing: 0.35pt"> </FONT>as<FONT STYLE="letter-spacing: 0.35pt">
</FONT>wrap<FONT STYLE="letter-spacing: 0.2pt"> </FONT>c<FONT STYLE="letter-spacing: 0.1pt">o</FONT>ntracts, issued<FONT STYLE="letter-spacing: 0.15pt">
</FONT><FONT STYLE="letter-spacing: -0.05pt">b</FONT>y<FONT STYLE="letter-spacing: 0.4pt"> </FONT>insurance c<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>anies
and<FONT STYLE="letter-spacing: 0.25pt"> </FONT>other financial<FONT STYLE="letter-spacing: 0.15pt"> </FONT>institutions<FONT STYLE="letter-spacing: 0.05pt">
</FONT>for<FONT STYLE="letter-spacing: 0.4pt"> </FONT>a<FONT STYLE="letter-spacing: 0.4pt"> </FONT>fee.<FONT STYLE="letter-spacing: 0.35pt">
</FONT>The<FONT STYLE="letter-spacing: 0.35pt"> common collective trust </FONT>fund<FONT STYLE="letter-spacing: 0.3pt"> </FONT>is
cre<FONT STYLE="letter-spacing: 0.05pt">d</FONT>ited<FONT STYLE="letter-spacing: 0.15pt"> </FONT>with<FONT STYLE="letter-spacing: 0.35pt">
</FONT>earnings<FONT STYLE="letter-spacing: 0.15pt"> </FONT>on<FONT STYLE="letter-spacing: 0.4pt"> </FONT>the<FONT STYLE="letter-spacing: 0.4pt">
</FONT>under<FONT STYLE="letter-spacing: -0.05pt">l</FONT>ying invest<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">e</FONT>nts
and charged<FONT STYLE="letter-spacing: 0.3pt"> </FONT>for participant<FONT STYLE="letter-spacing: 0.15pt"> </FONT>withdrawals<FONT STYLE="letter-spacing: 0.1pt">
</FONT>a<FONT STYLE="letter-spacing: 0.1pt">n</FONT>d ad<FONT STYLE="letter-spacing: -0.1pt">m</FONT>inistra<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.05pt">i</FONT>ve
expenses.<FONT STYLE="letter-spacing: 0.2pt"> </FONT>The issuer<FONT STYLE="letter-spacing: 0.35pt"> </FONT>of the wrap<FONT STYLE="letter-spacing: 0.4pt">
</FONT>contract guarantees a<FONT STYLE="letter-spacing: 0.4pt"> </FONT>min<FONT STYLE="letter-spacing: 0.05pt">i</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.1pt">u</FONT>m<FONT STYLE="letter-spacing: -0.15pt">
</FONT><FONT STYLE="letter-spacing: 0.05pt">r</FONT>a<FONT STYLE="letter-spacing: 0.05pt">t</FONT>e<FONT STYLE="letter-spacing: 0.2pt">
</FONT>of<FONT STYLE="letter-spacing: 0.3pt"> </FONT>return<FONT STYLE="letter-spacing: 0.15pt"> </FONT>a<FONT STYLE="letter-spacing: 0.1pt">n</FONT>d<FONT STYLE="letter-spacing: 0.25pt">
</FONT>provides full<FONT STYLE="letter-spacing: 0.25pt"> </FONT>benefit<FONT STYLE="letter-spacing: 0.1pt"> </FONT>res<FONT STYLE="letter-spacing: 0.1pt">p</FONT>onsiveness,<FONT STYLE="letter-spacing: -0.3pt">
</FONT>provided that<FONT STYLE="letter-spacing: 0.25pt"> </FONT>all<FONT STYLE="letter-spacing: 0.3pt"> </FONT>te<FONT STYLE="letter-spacing: 0.05pt">r</FONT>ms
of<FONT STYLE="letter-spacing: 0.2pt"> </FONT>the<FONT STYLE="letter-spacing: 0.15pt"> </FONT>wrap<FONT STYLE="letter-spacing: 0.2pt">
</FONT>contract<FONT STYLE="letter-spacing: -0.05pt"> </FONT>have<FONT STYLE="letter-spacing: 0.2pt"> </FONT>been<FONT STYLE="letter-spacing: 0.2pt">
</FONT>met.<FONT STYLE="letter-spacing: 0.15pt"> </FONT>The<FONT STYLE="letter-spacing: 0.15pt"> </FONT>fair<FONT STYLE="letter-spacing: 0.15pt">
</FONT>value<FONT STYLE="letter-spacing: 0.05pt"> </FONT><FONT STYLE="letter-spacing: 0.1pt">o</FONT>f<FONT STYLE="letter-spacing: 0.2pt">
</FONT>the<FONT STYLE="letter-spacing: 0.15pt"> </FONT>fund<FONT STYLE="letter-spacing: 0.1pt"> </FONT>e<FONT STYLE="letter-spacing: 0.1pt">q</FONT>uals<FONT STYLE="letter-spacing: 0.05pt">
</FONT>the<FONT STYLE="letter-spacing: 0.15pt"> </FONT>total<FONT STYLE="letter-spacing: 0.2pt"> </FONT>of<FONT STYLE="letter-spacing: 0.2pt">
</FONT>the<FONT STYLE="letter-spacing: 0.15pt"> </FONT>fair<FONT STYLE="letter-spacing: 0.15pt"> </FONT>value<FONT STYLE="letter-spacing: 0.05pt">
</FONT>of<FONT STYLE="letter-spacing: 0.2pt"> </FONT>the under<FONT STYLE="letter-spacing: -0.05pt">l</FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT>ing
assets<FONT STYLE="letter-spacing: -0.25pt"> </FONT>plus the<FONT STYLE="letter-spacing: -0.15pt"> </FONT>total wrap contract<FONT STYLE="letter-spacing: -0.35pt">
</FONT>rebid<FONT STYLE="letter-spacing: -0.25pt"> </FONT>value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">Certain<FONT STYLE="letter-spacing: -0.15pt">
</FONT>events<FONT STYLE="letter-spacing: -0.15pt"> </FONT>li<FONT STYLE="letter-spacing: -0.1pt">m</FONT>it<FONT STYLE="letter-spacing: -0.05pt">
</FONT>the ab<FONT STYLE="letter-spacing: 0.05pt">i</FONT>lity<FONT STYLE="letter-spacing: -0.1pt"> </FONT>of<FONT STYLE="letter-spacing: -0.05pt">
</FONT>the Pl<FONT STYLE="letter-spacing: -0.05pt">a</FONT>n<FONT STYLE="letter-spacing: -0.05pt"> </FONT>to<FONT STYLE="letter-spacing: 0.05pt">
</FONT>transact<FONT STYLE="letter-spacing: -0.3pt"> </FONT>at<FONT STYLE="letter-spacing: 0.05pt"> </FONT>contract<FONT STYLE="letter-spacing: -0.2pt">
</FONT>value<FONT STYLE="letter-spacing: -0.1pt"> </FONT>with<FONT STYLE="letter-spacing: -0.05pt"> </FONT>the<FONT STYLE="letter-spacing: -0.1pt">
</FONT>wrap<FONT STYLE="letter-spacing: -0.05pt"> </FONT>issuer.<FONT STYLE="letter-spacing: -0.15pt"> </FONT>Howeve<FONT STYLE="letter-spacing: 0.05pt">r</FONT>,
Plan<FONT STYLE="letter-spacing: 1.8pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>anag<FONT STYLE="letter-spacing: 0.05pt">e</FONT>ment<FONT STYLE="letter-spacing: 1.4pt">
</FONT>is<FONT STYLE="letter-spacing: 1.9pt"> </FONT>not<FONT STYLE="letter-spacing: 1.85pt"> </FONT>awa<FONT STYLE="letter-spacing: 0.05pt">r</FONT>e<FONT STYLE="letter-spacing: 1.7pt">
</FONT>of<FONT STYLE="letter-spacing: 1.85pt"> </FONT>the<FONT STYLE="letter-spacing: 1.85pt"> </FONT>occurrence<FONT STYLE="letter-spacing: 1.5pt">
</FONT>or<FONT STYLE="letter-spacing: 1.85pt"> </FONT>likely<FONT STYLE="letter-spacing: 1.75pt"> </FONT>occurrence<FONT STYLE="letter-spacing: 1.45pt">
</FONT>of<FONT STYLE="letter-spacing: 1.85pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">a</FONT><FONT STYLE="letter-spacing: -0.05pt">n</FONT>y<FONT STYLE="letter-spacing: 1.85pt">
</FONT>such<FONT STYLE="letter-spacing: 1.75pt"> </FONT>events,<FONT STYLE="letter-spacing: 1.65pt"> </FONT>which would li<FONT STYLE="letter-spacing: -0.1pt">m</FONT>it
<FONT STYLE="letter-spacing: 0.05pt">th</FONT>e Plan<FONT STYLE="letter-spacing: 0.05pt">&rsquo;</FONT>s ability<FONT STYLE="letter-spacing: 0.05pt">
</FONT>to transact<FONT STYLE="letter-spacing: -0.05pt"> </FONT>at contract<FONT STYLE="letter-spacing: -0.05pt"> </FONT>value<FONT STYLE="letter-spacing: 0.05pt">
</FONT>with participants. The issuer may te<FONT STYLE="letter-spacing: 0.05pt">r</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>inate
a wrap<FONT STYLE="letter-spacing: -0.2pt"> </FONT>contr<FONT STYLE="letter-spacing: 0.05pt">a</FONT>ct for<FONT STYLE="letter-spacing: -0.15pt">
</FONT>cause at any<FONT STYLE="letter-spacing: -0.15pt"> </FONT>ti<FONT STYLE="letter-spacing: -0.1pt">m</FONT>e.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 0.55pt"> </FONT>average<FONT STYLE="letter-spacing: 0.4pt"> </FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT>ield<FONT STYLE="letter-spacing: 0.5pt"> </FONT>earned<FONT STYLE="letter-spacing: 0.4pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">b</FONT>y<FONT STYLE="letter-spacing: 0.65pt"> </FONT>all<FONT STYLE="letter-spacing: 0.6pt"> </FONT>wrap<FONT STYLE="letter-spacing: 0.55pt"> </FONT>contracts<FONT STYLE="letter-spacing: 0.3pt"> </FONT>h<FONT STYLE="letter-spacing: -0.1pt">e</FONT>ld<FONT STYLE="letter-spacing: 0.55pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">b</FONT>y
the<FONT STYLE="letter-spacing: 0.55pt"> </FONT>Plan&rsquo;s<FONT STYLE="letter-spacing: 0.4pt"> </FONT>c<FONT STYLE="letter-spacing: 0.1pt">o</FONT>m<FONT STYLE="letter-spacing: -0.1pt">m</FONT>on/collective
trust<FONT STYLE="letter-spacing: 0.5pt"> </FONT>fund<FONT STYLE="letter-spacing: 0.5pt"> </FONT>was approxi<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ately <FONT STYLE="letter-spacing: -0.25pt">1.83%
and </FONT>2.<FONT STYLE="letter-spacing: -0.05pt">0</FONT><FONT STYLE="letter-spacing: 0.05pt">6</FONT>% for<FONT STYLE="letter-spacing: 0.25pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">t</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>e <FONT STYLE="letter-spacing: 0.1pt">y</FONT>ears<FONT STYLE="letter-spacing: 0.15pt"> </FONT>end<FONT STYLE="letter-spacing: -0.05pt">e</FONT>d
December<FONT STYLE="letter-spacing: -0.05pt"> </FONT>31,<FONT STYLE="letter-spacing: 0.25pt"> </FONT>2014<FONT STYLE="letter-spacing: 0.2pt"> </FONT>and<FONT STYLE="letter-spacing: 0.2pt"> </FONT>2013,<FONT STYLE="letter-spacing: 0.15pt"> </FONT>respectivel<FONT STYLE="letter-spacing: 0.1pt">y</FONT>. <FONT STYLE="letter-spacing: -0.05pt">T</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>e
average<FONT STYLE="letter-spacing: 0.9pt"> </FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT>ield earned by the Plan for
all wrap con<FONT STYLE="letter-spacing: -0.05pt">t</FONT>racts held by the Plan<FONT STYLE="letter-spacing: 0.05pt">&rsquo;</FONT>s
common/collec<FONT STYLE="letter-spacing: 0.05pt">t</FONT>ive tru<FONT STYLE="letter-spacing: 0.05pt">s</FONT>t funds based
on<FONT STYLE="letter-spacing: 0.9pt"> </FONT>the actual <FONT STYLE="letter-spacing: 0.05pt">in</FONT>terest ra<FONT STYLE="letter-spacing: 0.05pt">t</FONT>es
credited<FONT STYLE="letter-spacing: 0.65pt"> </FONT>to participants was approx<FONT STYLE="letter-spacing: 0.05pt">i</FONT>m<FONT STYLE="letter-spacing: 0.05pt">a</FONT>tely
2.29%  for the <FONT STYLE="letter-spacing: 0.1pt">y</FONT>ears ended Dec<FONT STYLE="letter-spacing: 0.05pt">e</FONT>mber
31, 2014 and 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Enbridge<FONT STYLE="letter-spacing: -0.55pt">
</FONT>Employee<FONT STYLE="letter-spacing: -0.6pt"> </FONT>Services,<FONT STYLE="letter-spacing: -0.5pt"> </FONT>Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Employees&rsquo;
Savings<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Notes
to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Financial<FONT STYLE="letter-spacing: -0.55pt"> </FONT>Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>December<FONT STYLE="letter-spacing: -0.6pt">
</FONT>31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014<FONT STYLE="letter-spacing: -0.3pt"> </FONT>and<FONT STYLE="letter-spacing: -0.25pt">
</FONT>2013</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Note 5:</B></TD><TD STYLE="text-align: justify"><B>Fair<FONT STYLE="letter-spacing: -0.2pt"> </FONT>Value
Measur<FONT STYLE="letter-spacing: 0.05pt">e</FONT><FONT STYLE="letter-spacing: -0.05pt">m</FONT>e<FONT STYLE="letter-spacing: 0.05pt">n</FONT>ts</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 0.35pt">
</FONT>following<FONT STYLE="letter-spacing: 0.1pt"> </FONT>table<FONT STYLE="letter-spacing: 0.3pt"> </FONT>sets<FONT STYLE="letter-spacing: 0.35pt">
</FONT>forth<FONT STYLE="letter-spacing: 0.3pt"> </FONT>by<FONT STYLE="letter-spacing: 0.4pt"> </FONT>level,<FONT STYLE="letter-spacing: 0.3pt">
</FONT>within<FONT STYLE="letter-spacing: 0.25pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">t</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>e<FONT STYLE="letter-spacing: 0.4pt">
</FONT><FONT STYLE="letter-spacing: -0.05pt">f</FONT>air<FONT STYLE="letter-spacing: 0.35pt"> </FONT>value<FONT STYLE="letter-spacing: 0.3pt">
</FONT>hierarch<FONT STYLE="letter-spacing: 0.1pt">y</FONT>,<FONT STYLE="letter-spacing: 0.05pt"> </FONT>the<FONT STYLE="letter-spacing: 0.4pt">
</FONT>Plan<FONT STYLE="letter-spacing: 0.05pt">&rsquo;</FONT>s<FONT STYLE="letter-spacing: 0.2pt"> </FONT>inves<FONT STYLE="letter-spacing: 0.05pt">t</FONT>ments
that were<FONT STYLE="letter-spacing: -0.2pt"> </FONT>accounted<FONT STYLE="letter-spacing: -0.45pt"> </FONT>for<FONT STYLE="letter-spacing: -0.15pt">
</FONT>at<FONT STYLE="letter-spacing: -0.1pt"> </FONT>fair<FONT STYLE="letter-spacing: -0.15pt"> </FONT>value,<FONT STYLE="letter-spacing: -0.25pt">
</FONT>on<FONT STYLE="letter-spacing: -0.1pt"> </FONT>a<FONT STYLE="letter-spacing: -0.05pt"> </FONT>r<FONT STYLE="letter-spacing: -0.05pt">e</FONT>curring<FONT STYLE="letter-spacing: -0.4pt">
</FONT>basis:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 94%; font: 10pt Times New Roman, Times, Serif; margin-left: 26pt">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"></TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center">(in thousands)</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Level 1:</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Common stock</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Enbridge Inc. Stock</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">235,704</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">201,581</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Mutual funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Balanced funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,878</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,474</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">International funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,806</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,033</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Bond funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,379</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,668</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Growth funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53,125</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,881</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Income funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,204</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,122</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Retirement funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54,996</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Other funds</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,792</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,104</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">132,184</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">183,278</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Level 2:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Common and collective trust fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Retirement funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">68,137</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">International fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Domestic fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,123</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Bond funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,892</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Other funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">267</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Equity index trust fund</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,723</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">79,460</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,723</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Level 3:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Common and collective trust fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Stable value trust fund</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">37,990</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">34,596</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total investments at fair value</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">485,338</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">427,178</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt"><B><I>Inputs to fair value measurement of the Plan&rsquo;s
investments</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The quantitative unobservable inputs
for the Stable Value Trust Fund and the Retirement funds are not developed by the Plan management when measuring the fair value.
Third-party pricing information is used without adjustment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Enbridge<FONT STYLE="letter-spacing: -0.55pt">
</FONT>Employee<FONT STYLE="letter-spacing: -0.6pt"> </FONT>Services,<FONT STYLE="letter-spacing: -0.5pt"> </FONT>Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Employees&rsquo;
Savings<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.55pt 0 10.45pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Notes
to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Financial<FONT STYLE="letter-spacing: -0.55pt"> </FONT>Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>December<FONT STYLE="letter-spacing: -0.6pt">
</FONT>31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014<FONT STYLE="letter-spacing: -0.3pt"> </FONT>and<FONT STYLE="letter-spacing: -0.25pt">
</FONT>2013</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt"><B><I>Level<FONT STYLE="letter-spacing: -0.25pt"> </FONT>3<FONT STYLE="letter-spacing: -0.05pt">
</FONT>Gains<FONT STYLE="letter-spacing: -0.25pt"> </FONT>and<FONT STYLE="letter-spacing: -0.15pt"> </FONT>Losses</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt">The<FONT STYLE="letter-spacing: 0.2pt"> </FONT>table<FONT STYLE="letter-spacing: 0.15pt">
</FONT>be<FONT STYLE="letter-spacing: 0.05pt">lo</FONT>w<FONT STYLE="letter-spacing: 0.1pt"> </FONT>sets<FONT STYLE="letter-spacing: 0.25pt">
</FONT>forth<FONT STYLE="letter-spacing: 0.15pt"> </FONT>a<FONT STYLE="letter-spacing: 0.3pt"> </FONT>s<FONT STYLE="letter-spacing: 0.1pt">u</FONT>mmary<FONT STYLE="letter-spacing: 0.05pt">
</FONT>of<FONT STYLE="letter-spacing: 0.25pt"> </FONT>changes in<FONT STYLE="letter-spacing: 0.25pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">th</FONT>e<FONT STYLE="letter-spacing: 0.2pt">
</FONT>fair<FONT STYLE="letter-spacing: 0.2pt"> </FONT>value<FONT STYLE="letter-spacing: 0.2pt"> </FONT>of<FONT STYLE="letter-spacing: 0.25pt">
</FONT>the<FONT STYLE="letter-spacing: 0.2pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.05pt">&rsquo;</FONT>s<FONT STYLE="letter-spacing: 0.05pt">
</FONT>Level<FONT STYLE="letter-spacing: 0.1pt"> </FONT>3<FONT STYLE="letter-spacing: 0.3pt"> </FONT>a<FONT STYLE="letter-spacing: 0.05pt">s</FONT>se<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s<FONT STYLE="letter-spacing: 0.1pt">
</FONT>for<FONT STYLE="letter-spacing: 0.2pt"> </FONT>the <FONT STYLE="letter-spacing: 0.1pt">y</FONT>ear<FONT STYLE="letter-spacing: -0.2pt">
</FONT>ended<FONT STYLE="letter-spacing: -0.25pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">D</FONT>ece<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.1pt">b</FONT>er<FONT STYLE="letter-spacing: -0.45pt">
</FONT>31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 96%; font: 10pt Times New Roman, Times, Serif; margin-left: 26pt">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">(in thousands)</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 85%; text-align: left">Balance, beginning of year</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">34,596</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Purchases and receipts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,244</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Sales and disbursements</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,629</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Dividends</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">711</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other adjustments</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">68</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Balance, end of year</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">37,990</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">Gains<FONT STYLE="letter-spacing: 0.25pt">
</FONT>and<FONT STYLE="letter-spacing: 0.35pt"> </FONT>losses<FONT STYLE="letter-spacing: 0.25pt"> </FONT>(<FONT STYLE="letter-spacing: 0.05pt">r</FONT>ealized<FONT STYLE="letter-spacing: 0.1pt">
</FONT>and<FONT STYLE="letter-spacing: 0.35pt"> </FONT>unrealized) included<FONT STYLE="letter-spacing: 0.1pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">i</FONT>n<FONT STYLE="letter-spacing: 0.35pt">
</FONT>changes<FONT STYLE="letter-spacing: 0.15pt"> </FONT>in<FONT STYLE="letter-spacing: 0.4pt"> </FONT>net<FONT STYLE="letter-spacing: 0.35pt">
</FONT>asse<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s<FONT STYLE="letter-spacing: 0.25pt"> </FONT>for<FONT STYLE="letter-spacing: 0.4pt">
</FONT>the<FONT STYLE="letter-spacing: 0.35pt"> </FONT>period<FONT STYLE="letter-spacing: 0.2pt"> </FONT>above<FONT STYLE="letter-spacing: 0.25pt">
</FONT>are reported<FONT STYLE="letter-spacing: 0.2pt"> </FONT>in<FONT STYLE="letter-spacing: 0.45pt"> </FONT>net<FONT STYLE="letter-spacing: 0.4pt">
</FONT>appreciati<FONT STYLE="letter-spacing: 0.1pt">o</FONT>n in<FONT STYLE="letter-spacing: 0.45pt"> </FONT>fair<FONT STYLE="letter-spacing: 0.4pt">
</FONT>value<FONT STYLE="letter-spacing: 0.3pt"> </FONT>of<FONT STYLE="letter-spacing: 0.45pt"> </FONT>in<FONT STYLE="letter-spacing: -0.05pt">v</FONT>es<FONT STYLE="letter-spacing: 0.05pt">t</FONT>ments
in<FONT STYLE="letter-spacing: 0.45pt"> </FONT>the<FONT STYLE="letter-spacing: 0.4pt"> </FONT>Stat<FONT STYLE="letter-spacing: 0.05pt">e</FONT>ment<FONT STYLE="letter-spacing: 0.1pt">
</FONT>of<FONT STYLE="letter-spacing: 0.45pt"> </FONT>Changes<FONT STYLE="letter-spacing: 0.15pt"> </FONT>in<FONT STYLE="letter-spacing: 0.45pt">
</FONT>Net<FONT STYLE="letter-spacing: 0.4pt"> </FONT>Asse<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s Available<FONT STYLE="letter-spacing: -0.45pt">
</FONT>for<FONT STYLE="letter-spacing: -0.15pt"> </FONT>Benefits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>Changes<FONT STYLE="letter-spacing: -0.4pt">
</FONT>in<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Fair<FONT STYLE="letter-spacing: -0.2pt"> </FONT>Value<FONT STYLE="letter-spacing: -0.25pt">
</FONT>Levels</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 1.65pt">
</FONT>availability<FONT STYLE="letter-spacing: 1.3pt"> </FONT>of<FONT STYLE="letter-spacing: 1.65pt"> </FONT>observable<FONT STYLE="letter-spacing: 1.4pt">
</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>arket<FONT STYLE="letter-spacing: 1.6pt"> </FONT>data<FONT STYLE="letter-spacing: 1.6pt">
</FONT>is<FONT STYLE="letter-spacing: 1.85pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>onitored<FONT STYLE="letter-spacing: 1.35pt">
</FONT>to<FONT STYLE="letter-spacing: 1.7pt"> </FONT>assess<FONT STYLE="letter-spacing: 1.55pt"> </FONT>the<FONT STYLE="letter-spacing: 1.65pt">
</FONT>appropriate<FONT STYLE="letter-spacing: 1.3pt"> </FONT>classification<FONT STYLE="letter-spacing: 1.2pt"> </FONT>of financial<FONT STYLE="letter-spacing: 1.45pt">
</FONT>instruments<FONT STYLE="letter-spacing: 1.35pt"> </FONT>within<FONT STYLE="letter-spacing: 1.55pt"> </FONT>the<FONT STYLE="letter-spacing: 1.7pt">
</FONT>fair<FONT STYLE="letter-spacing: 1.7pt"> </FONT>value<FONT STYLE="letter-spacing: 1.6pt"> </FONT>hierarc<FONT STYLE="letter-spacing: 0.1pt">h</FONT>y.
Changes<FONT STYLE="letter-spacing: 1.4pt"> </FONT>in<FONT STYLE="letter-spacing: 1.8pt"> </FONT>econo<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ic<FONT STYLE="letter-spacing: 1.5pt">
</FONT>conditions<FONT STYLE="letter-spacing: 1.45pt"> </FONT>or<FONT STYLE="letter-spacing: 1.7pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>odel-based<FONT STYLE="letter-spacing: 0.05pt"> </FONT>valuat<FONT STYLE="letter-spacing: 0.05pt">i</FONT>on<FONT STYLE="letter-spacing: -0.1pt">
</FONT>techniques <FONT STYLE="letter-spacing: -0.1pt">m</FONT>ay require<FONT STYLE="letter-spacing: 0.1pt"> </FONT>the transfer
of financial<FONT STYLE="letter-spacing: -0.1pt"> </FONT>in<FONT STYLE="letter-spacing: 0.05pt">s</FONT>truments fr<FONT STYLE="letter-spacing: 0.1pt">o</FONT>m<FONT STYLE="letter-spacing: 0.1pt">
</FONT>one fair v<FONT STYLE="letter-spacing: 0.05pt">a</FONT>lue<FONT STYLE="letter-spacing: 0.05pt"> </FONT>level to<FONT STYLE="letter-spacing: -0.1pt">
</FONT>another. In<FONT STYLE="letter-spacing: -0.1pt"> </FONT>such instances, the trans<FONT STYLE="letter-spacing: 0.05pt">f</FONT>er
is reported at<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the beginning of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the reporting
period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">We<FONT STYLE="letter-spacing: 0.4pt">
</FONT>evaluat<FONT STYLE="letter-spacing: 0.05pt">e</FONT>d<FONT STYLE="letter-spacing: 0.1pt"> </FONT>the<FONT STYLE="letter-spacing: 0.4pt">
</FONT>significance of<FONT STYLE="letter-spacing: 0.45pt"> </FONT>transfers<FONT STYLE="letter-spacing: 0.15pt"> </FONT>betw<FONT STYLE="letter-spacing: 0.05pt">ee</FONT>n<FONT STYLE="letter-spacing: 0.15pt">
</FONT>levels<FONT STYLE="letter-spacing: 0.25pt"> </FONT>based<FONT STYLE="letter-spacing: 0.3pt"> </FONT>upon<FONT STYLE="letter-spacing: 0.3pt">
</FONT>the<FONT STYLE="letter-spacing: 0.35pt"> </FONT>nature<FONT STYLE="letter-spacing: 0.25pt"> </FONT>of<FONT STYLE="letter-spacing: 0.45pt">
</FONT>the<FONT STYLE="letter-spacing: 0.35pt"> </FONT>financial instrument<FONT STYLE="letter-spacing: -0.45pt"> </FONT>and<FONT STYLE="letter-spacing: -0.15pt">
</FONT>size<FONT STYLE="letter-spacing: -0.15pt"> </FONT>of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the<FONT STYLE="letter-spacing: -0.15pt">
</FONT>transfer<FONT STYLE="letter-spacing: -0.35pt"> </FONT>re<FONT STYLE="letter-spacing: 0.05pt">l</FONT>ative<FONT STYLE="letter-spacing: -0.35pt">
</FONT>to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>total<FONT STYLE="letter-spacing: -0.25pt"> </FONT>net<FONT STYLE="letter-spacing: -0.2pt">
</FONT>asse<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s<FONT STYLE="letter-spacing: -0.25pt"> </FONT>availa<FONT STYLE="letter-spacing: 0.1pt">b</FONT>le<FONT STYLE="letter-spacing: -0.4pt">
</FONT>for<FONT STYLE="letter-spacing: -0.15pt"> </FONT>benefits. For<FONT STYLE="letter-spacing: -0.15pt"> </FONT>the<FONT STYLE="letter-spacing: -0.2pt">
</FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT>ear<FONT STYLE="letter-spacing: -0.2pt"> </FONT>ended December<FONT STYLE="letter-spacing: -0.45pt">
</FONT>31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014,<FONT STYLE="letter-spacing: -0.25pt"> </FONT>there<FONT STYLE="letter-spacing: -0.25pt">
</FONT>were<FONT STYLE="letter-spacing: -0.2pt"> </FONT>no<FONT STYLE="letter-spacing: -0.1pt"> </FONT>transfers<FONT STYLE="letter-spacing: -0.4pt">
</FONT>between<FONT STYLE="letter-spacing: -0.35pt"> </FONT>levels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify"><B><I>Inves<FONT STYLE="letter-spacing: 0.05pt">t</FONT>men<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s<FONT STYLE="letter-spacing: -0.55pt">
</FONT>in<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Certain<FONT STYLE="letter-spacing: -0.35pt"> </FONT>Entities<FONT STYLE="letter-spacing: -0.35pt">
</FONT>That<FONT STYLE="letter-spacing: -0.2pt"> </FONT>Calculate<FONT STYLE="letter-spacing: -0.45pt"> </FONT>NAV<FONT STYLE="letter-spacing: -0.2pt">
</FONT>per<FONT STYLE="letter-spacing: -0.15pt"> </FONT>Share</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The tables below sets forth fair value
measurements of the investments in certain entities that calculate NAV per share or its equivalent, as of December 31, 2014 and
2013:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 94%; font: 10pt Times New Roman, Times, Serif; margin-left: 26pt">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="11" NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Fair Value Estimated Using NAV per Share</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="11" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>December 31, 2014</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="11" NOWRAP STYLE="text-align: center">(in thousands)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair&nbsp;Value&nbsp;</b><sup>1</sup></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"><b>Unfunded</b></font><br> <font style="font: 10pt Times New Roman, Times, Serif"><b>Commitment</b></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"><b>Redemption</b></font><br> <font style="font: 10pt Times New Roman, Times, Serif"><b>Frequency</b></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"><b>Other</b></font><br> <font style="font: 10pt Times New Roman, Times, Serif"><b>Redemption</b></font><br> <font style="font: 10pt Times New Roman, Times, Serif"><b>Restrictions</b></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"><b>Redemption</b></font><br> <font style="font: 10pt Times New Roman, Times, Serif"><b>Notice Period</b></font></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Common and collective trust funds<SUP>2</SUP>:</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 35%; text-align: left; text-indent: 9pt">Retirement funds</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">68,137</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">None</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">Daily</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">None</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">1 day</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 9pt">International fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">None</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Daily</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">None</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1 day</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 9pt">Domestic fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">9,123</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">None</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Daily</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">None</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1 day</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 9pt">Bond funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">1,892</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">None</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Daily</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">None</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1 day</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 9pt">Other funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">267</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">None</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Daily</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">None</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1 day</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt"><font style="font: 10pt Times New Roman, Times, Serif">Stable value trust fund<sup>3</sup></font></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">37,990</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">None</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">Daily</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">None</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">12-30 months</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">117,450</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Enbridge<FONT STYLE="letter-spacing: -0.55pt">
</FONT>Employee<FONT STYLE="letter-spacing: -0.6pt"> </FONT>Services,<FONT STYLE="letter-spacing: -0.5pt"> </FONT>Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Employees&rsquo;
Savings<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Notes<FONT STYLE="letter-spacing: -0.35pt">
</FONT>to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Financial<FONT STYLE="letter-spacing: -0.55pt"> </FONT>Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>December<FONT STYLE="letter-spacing: -0.6pt">
</FONT>31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014<FONT STYLE="letter-spacing: -0.3pt"> </FONT>and<FONT STYLE="letter-spacing: -0.25pt">
</FONT>2013</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 94%; font: 10pt Times New Roman, Times, Serif; margin-left: 26pt">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="11" NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Fair Value Estimated Using NAV per Share</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="11" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>December 31, 2013</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="11" NOWRAP STYLE="text-align: center">(in thousands)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair&nbsp;Value&nbsp;</b><sup>1</sup></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"><b>Unfunded</b></font><br> <font style="font: 10pt Times New Roman, Times, Serif"><b>Commitment</b></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"><b>Redemption</b></font><br> <font style="font: 10pt Times New Roman, Times, Serif"><b>Frequency</b></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"><b>Other</b></font><br> <font style="font: 10pt Times New Roman, Times, Serif"><b>Redemption</b></font><br> <font style="font: 10pt Times New Roman, Times, Serif"><b>Restrictions</b></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"><b>Redemption</b></font><br> <font style="font: 10pt Times New Roman, Times, Serif"><b>Notice Period</b></font></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Equity index trust fund<sup>3</sup></font></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">7,723</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">None</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">Daily</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">None</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">90 days</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><font style="font: 10pt Times New Roman, Times, Serif">Stable value trust fund<sup>4</sup></font></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">34,596</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">None</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">Daily</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">None</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">12-30 months</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">42,319</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 25.9pt"></TD><TD STYLE="width: 21.6pt"><FONT STYLE="font-size: 10pt">1</FONT></TD><TD STYLE="text-align: justify">The<FONT STYLE="letter-spacing: -0.15pt"> </FONT>fair<FONT STYLE="letter-spacing: -0.15pt"> </FONT>values<FONT STYLE="letter-spacing: -0.3pt">
</FONT>of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the<FONT STYLE="letter-spacing: -0.15pt"> </FONT>invest<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent<FONT STYLE="letter-spacing: -0.5pt">
</FONT>have<FONT STYLE="letter-spacing: -0.15pt"> </FONT>been<FONT STYLE="letter-spacing: -0.2pt"> </FONT>est<FONT STYLE="letter-spacing: 0.05pt">i</FONT>mated<FONT STYLE="letter-spacing: -0.3pt">
</FONT>using<FONT STYLE="letter-spacing: -0.25pt"> </FONT>the<FONT STYLE="letter-spacing: -0.15pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">N</FONT>AV<FONT STYLE="letter-spacing: -0.25pt">
</FONT>of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the<FONT STYLE="letter-spacing: -0.15pt"> </FONT>inves<FONT STYLE="letter-spacing: 0.05pt">t</FONT>ment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 47.5pt; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 25.9pt"></TD><TD STYLE="width: 21.6pt"><FONT STYLE="font-size: 10pt">2</FONT></TD><TD STYLE="text-align: justify">Represents<FONT STYLE="letter-spacing: 0.65pt"> pooled </FONT>funds investing primarily in other collective investment funds.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 47.5pt; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 25.9pt"></TD><TD STYLE="width: 21.6pt"><FONT STYLE="font-size: 10pt">3</FONT></TD><TD STYLE="text-align: justify">Represents<FONT STYLE="letter-spacing: 0.65pt"> </FONT>pooled<FONT STYLE="letter-spacing: 0.85pt"> </FONT>funds<FONT STYLE="letter-spacing: 0.9pt">
</FONT><FONT STYLE="letter-spacing: -0.05pt">i</FONT>nvesting<FONT STYLE="letter-spacing: 0.75pt"> </FONT>pr<FONT STYLE="letter-spacing: -0.05pt">i</FONT>marily<FONT STYLE="letter-spacing: 0.85pt">
</FONT>in<FONT STYLE="letter-spacing: 1.05pt"> </FONT>common<FONT STYLE="letter-spacing: 0.75pt"> </FONT>stocks<FONT STYLE="letter-spacing: 0.85pt">
</FONT>of<FONT STYLE="letter-spacing: 1.05pt"> </FONT>c<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>anies<FONT STYLE="letter-spacing: 0.7pt">
</FONT>that<FONT STYLE="letter-spacing: 1pt"> </FONT>c<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>r<FONT STYLE="letter-spacing: 0.05pt">i</FONT>se<FONT STYLE="letter-spacing: 0.75pt">
</FONT><FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: 0.1pt">h</FONT>e S&amp;P<FONT STYLE="letter-spacing: -0.2pt">
</FONT>Index.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 47.5pt; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 25.9pt"></TD><TD STYLE="width: 21.6pt"><FONT STYLE="font-size: 10pt">4</FONT></TD><TD STYLE="text-align: justify">Represents <FONT STYLE="letter-spacing: 0.35pt"> </FONT><FONT STYLE="letter-spacing: 0.1pt">p</FONT>ooled <FONT STYLE="letter-spacing: 0.55pt">
</FONT>funds <FONT STYLE="letter-spacing: 0.6pt"> </FONT>investing <FONT STYLE="letter-spacing: 0.45pt"> </FONT>in <FONT STYLE="letter-spacing: 0.75pt">
</FONT>guaranteed <FONT STYLE="letter-spacing: 0.35pt"> </FONT>investment <FONT STYLE="letter-spacing: 0.35pt"> </FONT>contracts
<FONT STYLE="letter-spacing: 0.45pt"> </FONT>is<FONT STYLE="letter-spacing: 0.05pt">su</FONT>ed <FONT STYLE="letter-spacing: 0.55pt">
</FONT>by <FONT STYLE="letter-spacing: 0.85pt"> </FONT>insurance c<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>anies;
<FONT STYLE="letter-spacing: 0.05pt">i</FONT>nves<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ents
<FONT STYLE="letter-spacing: 0.05pt">c</FONT>ontracts<FONT STYLE="letter-spacing: 0.15pt"> </FONT>issu<FONT STYLE="letter-spacing: 0.05pt">e</FONT>d<FONT STYLE="letter-spacing: 0.3pt">
</FONT>by<FONT STYLE="letter-spacing: 0.5pt"> </FONT>banks;<FONT STYLE="letter-spacing: 0.25pt"> </FONT>structured<FONT STYLE="letter-spacing: 0.1pt">
</FONT>or<FONT STYLE="letter-spacing: 0.45pt"> </FONT>synthetic<FONT STYLE="letter-spacing: 0.15pt"> </FONT>inv<FONT STYLE="letter-spacing: -0.05pt">e</FONT>s<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ents<FONT STYLE="letter-spacing: 0.1pt">
</FONT>contrac<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s issued<FONT STYLE="letter-spacing: 1.4pt"> </FONT>by banks,<FONT STYLE="letter-spacing: 1.4pt">
</FONT>insurance c<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>anies,
and oth<FONT STYLE="letter-spacing: -0.05pt">e</FONT>r issuers; separate account contracts and other s<FONT STYLE="letter-spacing: 0.05pt">i</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ilar
instr<FONT STYLE="letter-spacing: 0.1pt">u</FONT>ments that are intended to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>maintain
a<FONT STYLE="letter-spacing: -0.05pt"> </FONT>c<FONT STYLE="letter-spacing: 0.1pt">o</FONT>nstant net asset value.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Note 6:</B></TD><TD STYLE="text-align: justify"><B>Party-In-Interest Trans<FONT STYLE="letter-spacing: 0.1pt">a</FONT>ctions</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">At<FONT STYLE="letter-spacing: 0.45pt">
</FONT>Dece<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ber<FONT STYLE="letter-spacing: 0.1pt"> </FONT>31,<FONT STYLE="letter-spacing: 0.4pt">
</FONT><FONT STYLE="letter-spacing: -0.05pt">2014</FONT><FONT STYLE="letter-spacing: 0.35pt"> </FONT>a<FONT STYLE="letter-spacing: -0.05pt">n</FONT>d<FONT STYLE="letter-spacing: 0.4pt">
</FONT>2013,<FONT STYLE="letter-spacing: 0.3pt"> </FONT>the<FONT STYLE="letter-spacing: 0.35pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.35pt">
</FONT>held<FONT STYLE="letter-spacing: 0.35pt"> 4,582,508 and 4,612,413 </FONT>s<FONT STYLE="letter-spacing: -0.05pt">h</FONT>ares,<FONT STYLE="letter-spacing: 0.25pt">
</FONT>respectively, of Enbridge Inc.<FONT STYLE="letter-spacing: 0.2pt"> </FONT>participant-directed<FONT STYLE="letter-spacing: 0.05pt">
</FONT>c<FONT STYLE="letter-spacing: 0.1pt">o</FONT>m<FONT STYLE="letter-spacing: -0.1pt">m</FONT>on stock. <FONT STYLE="letter-spacing: 0.5pt">
</FONT>Funds<FONT STYLE="letter-spacing: 0.15pt"> </FONT>are<FONT STYLE="letter-spacing: 0.3pt"> </FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>a<FONT STYLE="letter-spacing: 0.1pt">n</FONT>aged
<FONT STYLE="letter-spacing: -0.05pt">b</FONT>y<FONT STYLE="letter-spacing: 0.35pt"> </FONT>T.<FONT STYLE="letter-spacing: 0.3pt">
</FONT>Rowe<FONT STYLE="letter-spacing: 0.1pt"> </FONT>Price<FONT STYLE="letter-spacing: 0.2pt"> </FONT>Associates, Inc.,<FONT STYLE="letter-spacing: -0.15pt">
</FONT>T.<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Rowe<FONT STYLE="letter-spacing: -0.25pt"> </FONT>Price<FONT STYLE="letter-spacing: -0.25pt">
</FONT>Retirement<FONT STYLE="letter-spacing: -0.5pt"> </FONT>Funds<FONT STYLE="letter-spacing: -0.25pt"> </FONT>In<FONT STYLE="letter-spacing: -0.05pt">c</FONT>.,
and<FONT STYLE="letter-spacing: -0.15pt"> </FONT>the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">T. Rowe<FONT STYLE="letter-spacing: -0.15pt">
</FONT>Pri<FONT STYLE="letter-spacing: 0.05pt">c</FONT>e<FONT STYLE="letter-spacing: -0.15pt"> </FONT>A<FONT STYLE="letter-spacing: 0.05pt">s</FONT>sociat<FONT STYLE="letter-spacing: 0.05pt">e</FONT>s,<FONT STYLE="letter-spacing: -0.35pt">
</FONT>Inc.<FONT STYLE="letter-spacing: -0.05pt"> </FONT>and<FONT STYLE="letter-spacing: -0.05pt"> </FONT>T. Rowe<FONT STYLE="letter-spacing: -0.15pt">
</FONT>Price<FONT STYLE="letter-spacing: -0.15pt"> </FONT>St<FONT STYLE="letter-spacing: 0.05pt">ab</FONT>le<FONT STYLE="letter-spacing: -0.15pt">
</FONT>As<FONT STYLE="letter-spacing: 0.05pt">s</FONT>et<FONT STYLE="letter-spacing: -0.15pt"> </FONT>M<FONT STYLE="letter-spacing: 0.05pt">a</FONT>nag<FONT STYLE="letter-spacing: 0.05pt">e</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent,<FONT STYLE="letter-spacing: -0.5pt">
</FONT>Inc.<FONT STYLE="letter-spacing: -0.05pt"> </FONT>serve<FONT STYLE="letter-spacing: -0.1pt"> </FONT>as i<FONT STYLE="letter-spacing: 0.1pt">n</FONT>ves<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>e<FONT STYLE="letter-spacing: 0.1pt">n</FONT>t
advisors<FONT STYLE="letter-spacing: 0.1pt"> </FONT>to<FONT STYLE="letter-spacing: 0.35pt"> </FONT>the<FONT STYLE="letter-spacing: 0.3pt">
</FONT>Trustee; therefore, these<FONT STYLE="letter-spacing: 0.2pt"> </FONT>tran<FONT STYLE="letter-spacing: 0.05pt">s</FONT>act<FONT STYLE="letter-spacing: 0.05pt">i</FONT>ons<FONT STYLE="letter-spacing: -0.1pt">
</FONT>qualify<FONT STYLE="letter-spacing: 0.2pt"> </FONT>as<FONT STYLE="letter-spacing: 0.35pt"> </FONT>part<FONT STYLE="letter-spacing: 0.1pt">y</FONT>-in-interest
transactions. Each<FONT STYLE="letter-spacing: 0.25pt"> </FONT>participant account<FONT STYLE="letter-spacing: 0.05pt"> </FONT>under<FONT STYLE="letter-spacing: 0.2pt">
</FONT>the<FONT STYLE="letter-spacing: 0.35pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.25pt"> </FONT>incur<FONT STYLE="letter-spacing: 0.25pt">
</FONT>ind<FONT STYLE="letter-spacing: -0.05pt">i</FONT>rect<FONT STYLE="letter-spacing: 0.15pt"> </FONT>fees<FONT STYLE="letter-spacing: 0.3pt">
</FONT>or<FONT STYLE="letter-spacing: 0.45pt"> </FONT>expense rei<FONT STYLE="letter-spacing: -0.1pt">m</FONT>bursement p<FONT STYLE="letter-spacing: -0.05pt">a</FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ents<FONT STYLE="letter-spacing: 0.25pt">
</FONT>that<FONT STYLE="letter-spacing: 0.5pt"> </FONT>are<FONT STYLE="letter-spacing: 0.55pt"> </FONT>char<FONT STYLE="letter-spacing: 0.1pt">g</FONT>ed<FONT STYLE="letter-spacing: 0.3pt">
</FONT>to<FONT STYLE="letter-spacing: 0.55pt"> </FONT>inves<FONT STYLE="letter-spacing: -0.05pt">t</FONT>ment<FONT STYLE="letter-spacing: 0.2pt">
</FONT>funds selected<FONT STYLE="letter-spacing: 0.3pt"> </FONT>and<FONT STYLE="letter-spacing: 0.5pt"> </FONT>reflected<FONT STYLE="letter-spacing: 0.25pt">
</FONT>in<FONT STYLE="letter-spacing: 0.55pt"> </FONT>the<FONT STYLE="letter-spacing: 0.55pt"> </FONT>value <FONT STYLE="letter-spacing: -0.05pt">o</FONT>r
return on the invest<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent (i.e., included in calcul<FONT STYLE="letter-spacing: -0.05pt">a</FONT>ting
the expense ratio or un<FONT STYLE="letter-spacing: -0.05pt">i</FONT>t value of t<FONT STYLE="letter-spacing: -0.05pt">h</FONT>e
fund), finders&rsquo;<FONT STYLE="letter-spacing: 0.3pt"> </FONT>fees,<FONT STYLE="letter-spacing: 0.35pt"> </FONT>&ldquo;soft<FONT STYLE="letter-spacing: 0.35pt">
</FONT>doll<FONT STYLE="letter-spacing: -0.05pt">a</FONT>r&rdquo;<FONT STYLE="letter-spacing: 0.25pt"> </FONT>revenue,<FONT STYLE="letter-spacing: 0.2pt">
</FONT>&ldquo;float&rdquo;<FONT STYLE="letter-spacing: 0.25pt"> </FONT>rev<FONT STYLE="letter-spacing: -0.05pt">e</FONT><FONT STYLE="letter-spacing: 0.1pt">n</FONT><FONT STYLE="letter-spacing: 0.05pt">u</FONT>e,<FONT STYLE="letter-spacing: 0.2pt">
</FONT>and/or<FONT STYLE="letter-spacing: 0.2pt"> </FONT>brokerage<FONT STYLE="letter-spacing: 0.15pt"> </FONT>commi<FONT STYLE="letter-spacing: 0.05pt">s</FONT>sions
or<FONT STYLE="letter-spacing: 0.5pt"> </FONT>other transaction-based fees,<FONT STYLE="letter-spacing: 0.55pt"> </FONT>these<FONT STYLE="letter-spacing: 0.55pt">
</FONT>fees are charged in p<FONT STYLE="letter-spacing: -0.1pt">r</FONT>oportion<FONT STYLE="letter-spacing: 0.3pt"> </FONT>to
<FONT STYLE="letter-spacing: -0.05pt">th</FONT>e inves<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent<FONT STYLE="letter-spacing: 0.35pt">
</FONT>funds<FONT STYLE="letter-spacing: 0.5pt"> </FONT>selected by <FONT STYLE="letter-spacing: -0.05pt">t</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>e
participant. The<FONT STYLE="letter-spacing: 0.15pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.1pt"> </FONT>par<FONT STYLE="letter-spacing: 0.05pt">t</FONT>icipants
also<FONT STYLE="letter-spacing: 0.1pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">in</FONT>cur<FONT STYLE="letter-spacing: 0.05pt">
</FONT>direct<FONT STYLE="letter-spacing: 0.05pt"> </FONT>e<FONT STYLE="letter-spacing: 0.1pt">x</FONT>penses<FONT STYLE="letter-spacing: -0.1pt">
</FONT>which<FONT STYLE="letter-spacing: 0.15pt"> </FONT>would include a<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ounts<FONT STYLE="letter-spacing: -0.05pt">
</FONT>paid<FONT STYLE="letter-spacing: 0.1pt"> </FONT>to<FONT STYLE="letter-spacing: 0.2pt"> </FONT>T. Rowe<FONT STYLE="letter-spacing: -0.1pt">
</FONT>Price<FONT STYLE="letter-spacing: -0.05pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">fo</FONT>r services p<FONT STYLE="letter-spacing: 0.05pt">r</FONT>ovided
such<FONT STYLE="letter-spacing: -0.05pt"> a</FONT>s,<FONT STYLE="letter-spacing: 0.05pt"> </FONT>i.e., recordkeeping,<FONT STYLE="letter-spacing: -0.5pt">
</FONT>participant loan<FONT STYLE="letter-spacing: -0.05pt"> </FONT>processing,<FONT STYLE="letter-spacing: -0.35pt"> </FONT>red<FONT STYLE="letter-spacing: 0.05pt">e</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>tion
or<FONT STYLE="letter-spacing: 0.45pt"> </FONT>trustee<FONT STYLE="letter-spacing: 0.25pt"> </FONT>fe<FONT STYLE="letter-spacing: 0.05pt">e</FONT>s<FONT STYLE="letter-spacing: 0.35pt">
</FONT>are paid<FONT STYLE="letter-spacing: 0.35pt"> </FONT>di<FONT STYLE="letter-spacing: 0.05pt">r</FONT>ectly<FONT STYLE="letter-spacing: 0.3pt">
</FONT>by<FONT STYLE="letter-spacing: 0.55pt"> </FONT>the Plan<FONT STYLE="letter-spacing: 0.35pt"> </FONT>and<FONT STYLE="letter-spacing: 0.45pt">
</FONT>were<FONT STYLE="letter-spacing: 0.35pt"> </FONT>approxi<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ately <FONT STYLE="letter-spacing: -0.05pt">$24</FONT>
t<FONT STYLE="letter-spacing: -0.05pt">h</FONT>ou<FONT STYLE="letter-spacing: -0.05pt">s</FONT>and<FONT STYLE="letter-spacing: 0.2pt">
</FONT>for<FONT STYLE="letter-spacing: 0.45pt"> </FONT>the<FONT STYLE="letter-spacing: 0.45pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">p</FONT>lan
<FONT STYLE="letter-spacing: 0.1pt">y</FONT>ear ended December 31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">2014</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">Transactions resulting<FONT STYLE="letter-spacing: 0.2pt">
</FONT>in<FONT STYLE="letter-spacing: 0.5pt"> </FONT>Plan<FONT STYLE="letter-spacing: 0.4pt"> </FONT>assets<FONT STYLE="letter-spacing: 0.3pt">
</FONT>be<FONT STYLE="letter-spacing: 0.05pt">i</FONT>ng<FONT STYLE="letter-spacing: 0.35pt"> </FONT>transferred to,<FONT STYLE="letter-spacing: 0.45pt">
</FONT>or<FONT STYLE="letter-spacing: 0.5pt"> </FONT>used<FONT STYLE="letter-spacing: 0.25pt"> </FONT>b<FONT STYLE="letter-spacing: 0.1pt">y</FONT>,<FONT STYLE="letter-spacing: 0.45pt">
</FONT>a<FONT STYLE="letter-spacing: 0.55pt"> </FONT>related<FONT STYLE="letter-spacing: 0.2pt"> </FONT>part<FONT STYLE="letter-spacing: 0.1pt">y</FONT>,<FONT STYLE="letter-spacing: 0.25pt">
</FONT>are<FONT STYLE="letter-spacing: 0.45pt"> </FONT>prohibited under<FONT STYLE="letter-spacing: 0.3pt"> </FONT>ERISA<FONT STYLE="letter-spacing: 0.25pt">
</FONT>and<FONT STYLE="letter-spacing: 0.4pt"> </FONT>the<FONT STYLE="letter-spacing: 0.4pt"> </FONT>Code<FONT STYLE="letter-spacing: 0.3pt">
</FONT>unless<FONT STYLE="letter-spacing: 0.3pt"> </FONT>a<FONT STYLE="letter-spacing: 0.55pt"> </FONT>specific<FONT STYLE="letter-spacing: 0.25pt">
</FONT>exe<FONT STYLE="letter-spacing: -0.1pt">m</FONT>p<FONT STYLE="letter-spacing: 0.05pt">t</FONT>ion<FONT STYLE="letter-spacing: 0.1pt">
</FONT>exists.<FONT STYLE="letter-spacing: 0.8pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">E</FONT>nbridge<FONT STYLE="letter-spacing: 0.15pt">
</FONT>Inc.<FONT STYLE="letter-spacing: 0.4pt"> </FONT>is<FONT STYLE="letter-spacing: 0.5pt"> </FONT>a<FONT STYLE="letter-spacing: 0.55pt">
</FONT>part<FONT STYLE="letter-spacing: 0.1pt">y</FONT>-in<FONT STYLE="letter-spacing: -0.05pt">-</FONT>interes<FONT STYLE="letter-spacing: 0.05pt">t</FONT>
as<FONT STYLE="letter-spacing: 0.45pt"> </FONT>defined<FONT STYLE="letter-spacing: 0.2pt"> </FONT>by<FONT STYLE="letter-spacing: 0.45pt">
</FONT>ERISA<FONT STYLE="letter-spacing: 0.25pt"> </FONT>and<FONT STYLE="letter-spacing: 0.45pt"> </FONT>a<FONT STYLE="letter-spacing: 0.5pt">
</FONT>&ldquo;disqualified person&rdquo;<FONT STYLE="letter-spacing: 0.2pt"> </FONT>as<FONT STYLE="letter-spacing: 0.5pt"> </FONT>def<FONT STYLE="letter-spacing: -0.05pt">i</FONT>ned<FONT STYLE="letter-spacing: 0.2pt">
</FONT><FONT STYLE="letter-spacing: -0.05pt">b</FONT>y<FONT STYLE="letter-spacing: 0.55pt"> </FONT>t<FONT STYLE="letter-spacing: -0.05pt">h</FONT>e<FONT STYLE="letter-spacing: 0.4pt">
</FONT>Code<FONT STYLE="letter-spacing: 0.3pt"> </FONT>as<FONT STYLE="letter-spacing: 0.45pt"> </FONT>a<FONT STYLE="letter-spacing: 0.5pt">
</FONT>result<FONT STYLE="letter-spacing: 0.3pt"> </FONT>of<FONT STYLE="letter-spacing: 0.45pt"> </FONT>its<FONT STYLE="letter-spacing: 0.45pt">
</FONT>ownership of<FONT STYLE="letter-spacing: 0.1pt"> </FONT>the<FONT STYLE="letter-spacing: 0.05pt"> </FONT>Co<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>an<FONT STYLE="letter-spacing: 0.1pt">y</FONT>.<FONT STYLE="letter-spacing: 2.65pt">
</FONT>However, the<FONT STYLE="letter-spacing: 0.05pt"> </FONT>purchase of<FONT STYLE="letter-spacing: 0.1pt"> </FONT>Enbridge
Inc.<FONT STYLE="letter-spacing: 0.05pt"> </FONT>com<FONT STYLE="letter-spacing: -0.1pt">m</FONT>on stock<FONT STYLE="letter-spacing: -0.05pt">
</FONT>by<FONT STYLE="letter-spacing: 0.1pt"> </FONT>the Plan is<FONT STYLE="letter-spacing: 0.15pt"> </FONT>exempt<FONT STYLE="letter-spacing: -0.1pt">
</FONT>under ERISA<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Section <FONT STYLE="letter-spacing: -0.05pt">4</FONT>08(e)<FONT STYLE="letter-spacing: -0.1pt">
</FONT>a<FONT STYLE="letter-spacing: -0.05pt">n</FONT>d<FONT STYLE="letter-spacing: 0.05pt"> </FONT>Code<FONT STYLE="letter-spacing: -0.05pt">
</FONT>Sect<FONT STYLE="letter-spacing: -0.05pt">i</FONT>on <FONT STYLE="letter-spacing: -0.05pt">4</FONT>975<FONT STYLE="letter-spacing: -0.05pt">(</FONT>d)(<FONT STYLE="letter-spacing: -0.05pt">1</FONT>3)
and is<FONT STYLE="letter-spacing: 0.15pt"> </FONT>the<FONT STYLE="letter-spacing: -0.05pt">r</FONT>efore not<FONT STYLE="letter-spacing: 0.05pt">
</FONT>p<FONT STYLE="letter-spacing: -0.05pt">ro</FONT><FONT STYLE="letter-spacing: 0.05pt">h</FONT>ibited <FONT STYLE="letter-spacing: -0.05pt">b</FONT>y<FONT STYLE="letter-spacing: 0.2pt">
</FONT><FONT STYLE="letter-spacing: -0.05pt">E</FONT>RISA<FONT STYLE="letter-spacing: -0.1pt"> </FONT>or<FONT STYLE="letter-spacing: 0.1pt">
</FONT>the Code. T. Rowe Pri<FONT STYLE="letter-spacing: 0.05pt">c</FONT>e is a part<FONT STYLE="letter-spacing: 0.1pt">y</FONT>-in-interest<FONT STYLE="letter-spacing: 0.35pt">
</FONT><FONT STYLE="letter-spacing: -0.05pt">a</FONT>nd &ldquo;<FONT STYLE="letter-spacing: 0.1pt">d</FONT>isqualified<FONT STYLE="letter-spacing: 0.55pt">
</FONT>person&rdquo; as a result of its status as a plan<FONT STYLE="letter-spacing: 0.1pt"> </FONT>fiduciary and<FONT STYLE="letter-spacing: 0.15pt">
</FONT>service provider. <FONT STYLE="letter-spacing: 0.25pt"> </FONT>However, the<FONT STYLE="letter-spacing: 0.15pt"> </FONT><FONT STYLE="letter-spacing: 0.1pt">p</FONT><FONT STYLE="letter-spacing: 0.05pt">u</FONT>rchase<FONT STYLE="letter-spacing: -0.1pt">
</FONT>of<FONT STYLE="letter-spacing: 0.2pt"> </FONT>in<FONT STYLE="letter-spacing: 0.05pt">t</FONT>erests<FONT STYLE="letter-spacing: -0.05pt">
</FONT>of<FONT STYLE="letter-spacing: 0.2pt"> </FONT>a<FONT STYLE="letter-spacing: 0.25pt"> </FONT>c<FONT STYLE="letter-spacing: 0.1pt">o</FONT>llective
fund<FONT STYLE="letter-spacing: 0.1pt"> </FONT>managed <FONT STYLE="letter-spacing: -0.05pt">b</FONT>y<FONT STYLE="letter-spacing: 0.45pt">
</FONT>T.<FONT STYLE="letter-spacing: 0.4pt"> </FONT>Rowe<FONT STYLE="letter-spacing: 0.15pt"> </FONT>Price<FONT STYLE="letter-spacing: 0.25pt">
</FONT>is<FONT STYLE="letter-spacing: 0.4pt"> </FONT>exempt<FONT STYLE="letter-spacing: 0.15pt"> </FONT>u<FONT STYLE="letter-spacing: -0.05pt">n</FONT>der<FONT STYLE="letter-spacing: 0.25pt">
</FONT>ERISA<FONT STYLE="letter-spacing: 0.15pt"> </FONT>Section<FONT STYLE="letter-spacing: 0.15pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">4</FONT>08(b)(8)<FONT STYLE="letter-spacing: 0.05pt">
</FONT>a<FONT STYLE="letter-spacing: -0.05pt">n</FONT>d<FONT STYLE="letter-spacing: 0.25pt"> </FONT>Code<FONT STYLE="letter-spacing: 0.25pt">
</FONT>Section<FONT STYLE="letter-spacing: 0.15pt"> </FONT>49<FONT STYLE="letter-spacing: -0.05pt">7</FONT>5(d)(8) <FONT STYLE="letter-spacing: -0.05pt">a</FONT>nd<FONT STYLE="letter-spacing: 0.3pt">
</FONT>is<FONT STYLE="letter-spacing: 0.4pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">n</FONT><FONT STYLE="letter-spacing: 0.05pt">o</FONT>t
prohibited <FONT STYLE="letter-spacing: -0.05pt">b</FONT>y<FONT STYLE="letter-spacing: -0.05pt"> </FONT>ERISA or<FONT STYLE="letter-spacing: -0.1pt">
</FONT>t<FONT STYLE="letter-spacing: -0.05pt">h</FONT>e Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 8pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Enbridge<FONT STYLE="letter-spacing: -0.55pt">
</FONT>Employee<FONT STYLE="letter-spacing: -0.6pt"> </FONT>Services,<FONT STYLE="letter-spacing: -0.5pt"> </FONT>Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Employees&rsquo;
Savings<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Notes<FONT STYLE="letter-spacing: -0.35pt">
</FONT>to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Financial<FONT STYLE="letter-spacing: -0.55pt"> </FONT>Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>December<FONT STYLE="letter-spacing: -0.6pt">
</FONT>31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014<FONT STYLE="letter-spacing: -0.3pt"> </FONT>and<FONT STYLE="letter-spacing: -0.25pt">
</FONT>2013</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0"><B>&nbsp;&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Note 7:</B></TD><TD STYLE="text-align: justify"><B>Reconciliation of<FONT STYLE="letter-spacing: -0.1pt">
</FONT>Financ<FONT STYLE="letter-spacing: -0.05pt">i</FONT><FONT STYLE="letter-spacing: 0.05pt">a</FONT>l Statements<FONT STYLE="letter-spacing: -0.5pt">
</FONT>to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Form<FONT STYLE="letter-spacing: -0.25pt"> </FONT>5500</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 1.6pt">
</FONT>following<FONT STYLE="letter-spacing: 1.3pt"> </FONT>is<FONT STYLE="letter-spacing: 1.7pt"> </FONT>a<FONT STYLE="letter-spacing: 1.7pt">
</FONT>reconciliation<FONT STYLE="letter-spacing: 1.15pt"> </FONT>of<FONT STYLE="letter-spacing: 1.65pt"> </FONT>the<FONT STYLE="letter-spacing: 1.6pt">
</FONT>Plan<FONT STYLE="letter-spacing: 0.05pt">&rsquo;</FONT>s<FONT STYLE="letter-spacing: 1.45pt"> </FONT>n<FONT STYLE="letter-spacing: -0.05pt">e</FONT>t<FONT STYLE="letter-spacing: 1.55pt">
</FONT>asse<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s<FONT STYLE="letter-spacing: 1.5pt"> </FONT>available<FONT STYLE="letter-spacing: 1.35pt">
</FONT>for<FONT STYLE="letter-spacing: 1.6pt"> </FONT>benefits<FONT STYLE="letter-spacing: 1.4pt"> </FONT>as<FONT STYLE="letter-spacing: 1.65pt">
</FONT>set<FONT STYLE="letter-spacing: 1.65pt"> </FONT>forth<FONT STYLE="letter-spacing: 1.55pt"> </FONT>in<FONT STYLE="letter-spacing: 1.6pt">
</FONT>the acc<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>an<FONT STYLE="letter-spacing: 0.1pt">y</FONT>ing
financial<FONT STYLE="letter-spacing: 0.25pt"> </FONT>statements as of Dece<FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.1pt">b</FONT>er
31, 2014 and 2013 <FONT STYLE="letter-spacing: -0.05pt">t</FONT>o the Form 5500:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 94%; font: 10pt Times New Roman, Times, Serif; margin-left: 26pt">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"><b>2014</b></font></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"><b>2013</b></font></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center">(in thousands)</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left">Net assets available for benefits in the financial statements</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">493,281</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">434,964</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Adjustments from contract value to fair value for fully benefit-responsive contracts</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">551</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">483</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net assets per Form 5500</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">493,832</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">435,447</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 0.45pt">
</FONT>following<FONT STYLE="letter-spacing: 0.2pt"> </FONT>is<FONT STYLE="letter-spacing: 0.55pt"> </FONT>a<FONT STYLE="letter-spacing: 0.55pt">
</FONT>reconciliation of<FONT STYLE="letter-spacing: 0.5pt"> </FONT>the<FONT STYLE="letter-spacing: 0.45pt"> </FONT>change<FONT STYLE="letter-spacing: 0.3pt">
</FONT>in<FONT STYLE="letter-spacing: 0.5pt"> </FONT>net<FONT STYLE="letter-spacing: 0.45pt"> </FONT>assets<FONT STYLE="letter-spacing: 0.35pt">
</FONT>avai<FONT STYLE="letter-spacing: 0.05pt">la</FONT>ble<FONT STYLE="letter-spacing: 0.2pt"> </FONT>for<FONT STYLE="letter-spacing: 0.5pt">
</FONT>benefits<FONT STYLE="letter-spacing: 0.25pt"> </FONT>as<FONT STYLE="letter-spacing: 0.55pt"> </FONT>set<FONT STYLE="letter-spacing: 0.5pt">
</FONT>forth<FONT STYLE="letter-spacing: 0.5pt"> </FONT>in<FONT STYLE="letter-spacing: 0.5pt"> </FONT>the acc<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">p</FONT>an<FONT STYLE="letter-spacing: 0.1pt">y</FONT>ing
financial<FONT STYLE="letter-spacing: 0.25pt"> </FONT>statements<FONT STYLE="letter-spacing: 0.2pt"> </FONT>for<FONT STYLE="letter-spacing: 0.5pt">
</FONT>the<FONT STYLE="letter-spacing: 0.5pt"> </FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT>ear<FONT STYLE="letter-spacing: 0.45pt">
</FONT>ended<FONT STYLE="letter-spacing: 0.4pt"> </FONT>December<FONT STYLE="letter-spacing: 0.2pt"> </FONT>31,<FONT STYLE="letter-spacing: 0.5pt">
</FONT>2014<FONT STYLE="letter-spacing: 0.4pt"> </FONT>to<FONT STYLE="letter-spacing: 0.55pt"> </FONT>Form<FONT STYLE="letter-spacing: 0.4pt">
</FONT>5500:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 94%; font: 10pt Times New Roman, Times, Serif; margin-left: 26pt">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">(in thousands)</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 85%; text-align: left">Increase in net assets available for benefits per the financial statement</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">58,317</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Adjustment from contract value to fair value for fully benefit-responsive contracts at December 31, 2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">551</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1pt">Adjustment from contract value to fair value for fully benefit-responsive contracts <font style="font: 10pt Times New Roman, Times, Serif">at December 31, 2013</font></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(483</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net income (loss) per Form 5500</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">58,385</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26pt; text-align: justify">The<FONT STYLE="letter-spacing: 0.45pt">
</FONT>a<FONT STYLE="letter-spacing: 0.05pt">c</FONT>c<FONT STYLE="letter-spacing: 0.1pt">o</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT><FONT STYLE="letter-spacing: 0.05pt">pa</FONT><FONT STYLE="letter-spacing: -0.05pt">n</FONT><FONT STYLE="letter-spacing: 0.1pt">y</FONT>ing
Statements<FONT STYLE="letter-spacing: 0.15pt"> </FONT>of<FONT STYLE="letter-spacing: 0.55pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">N</FONT>et<FONT STYLE="letter-spacing: 0.55pt">
</FONT>Asse<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s<FONT STYLE="letter-spacing: 0.4pt"> </FONT>Available<FONT STYLE="letter-spacing: 0.2pt">
</FONT>for<FONT STYLE="letter-spacing: 0.5pt"> </FONT><FONT STYLE="letter-spacing: 0.05pt">B</FONT>enefits<FONT STYLE="letter-spacing: 0.25pt">
</FONT>pr<FONT STYLE="letter-spacing: 0.05pt">e</FONT>sent<FONT STYLE="letter-spacing: 0.35pt"> </FONT>inves<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ents<FONT STYLE="letter-spacing: 0.1pt">
</FONT><FONT STYLE="letter-spacing: 0.05pt">i</FONT>n<FONT STYLE="letter-spacing: 0.55pt"> </FONT>fully benefit-responsive<FONT STYLE="letter-spacing: -0.55pt">
</FONT>investment<FONT STYLE="letter-spacing: -0.25pt"> </FONT>contracts<FONT STYLE="letter-spacing: -0.15pt"> </FONT>at<FONT STYLE="letter-spacing: 0.15pt">
</FONT>the<FONT STYLE="letter-spacing: 0.1pt"> </FONT>fair<FONT STYLE="letter-spacing: 0.1pt"> </FONT>v<FONT STYLE="letter-spacing: -0.05pt">al</FONT><FONT STYLE="letter-spacing: 0.05pt">u</FONT>e
of<FONT STYLE="letter-spacing: 0.15pt"> </FONT>the<FONT STYLE="letter-spacing: 0.05pt"> </FONT>con<FONT STYLE="letter-spacing: -0.05pt">t</FONT>racts,<FONT STYLE="letter-spacing: -0.15pt">
</FONT>which are<FONT STYLE="letter-spacing: 0.1pt"> </FONT>then<FONT STYLE="letter-spacing: 0.05pt"> </FONT>reco<FONT STYLE="letter-spacing: -0.05pt">n</FONT>ciled
to contract<FONT STYLE="letter-spacing: 0.5pt"> </FONT>value. The Statement<FONT STYLE="letter-spacing: 0.4pt"> </FONT>of Changes<FONT STYLE="letter-spacing: 0.45pt">
</FONT>in Net Asse<FONT STYLE="letter-spacing: 0.05pt">t</FONT>s<FONT STYLE="letter-spacing: 0.55pt"> </FONT>Avai<FONT STYLE="letter-spacing: 0.05pt">l</FONT>able<FONT STYLE="letter-spacing: 0.4pt">
</FONT>for Benefits<FONT STYLE="letter-spacing: 0.5pt"> </FONT>includes<FONT STYLE="letter-spacing: 0.5pt"> </FONT>changes<FONT STYLE="letter-spacing: 0.5pt">
</FONT>in the values<FONT STYLE="letter-spacing: 0.45pt"> </FONT>of ful<FONT STYLE="letter-spacing: -0.05pt">l</FONT>y benefit<FONT STYLE="letter-spacing: -0.05pt">-</FONT>responsive<FONT STYLE="letter-spacing: -0.05pt">
</FONT>i<FONT STYLE="letter-spacing: -0.05pt">n</FONT>vest<FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent<FONT STYLE="letter-spacing: 0.25pt">
</FONT><FONT STYLE="letter-spacing: 0.05pt">c</FONT>ontacts<FONT STYLE="letter-spacing: 0.4pt"> </FONT>on a contract<FONT STYLE="letter-spacing: 0.4pt">
</FONT>value<FONT STYLE="letter-spacing: 0.5pt"> </FONT><FONT STYLE="letter-spacing: -0.05pt">b</FONT>asis. For Fo<FONT STYLE="letter-spacing: -0.05pt">r</FONT>m<FONT STYLE="letter-spacing: 0.4pt">
</FONT>55<FONT STYLE="letter-spacing: 0.1pt">0</FONT>0 reporting, assets<FONT STYLE="letter-spacing: -0.25pt"> </FONT>held for<FONT STYLE="letter-spacing: -0.15pt">
</FONT>inves<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ent purposes are<FONT STYLE="letter-spacing: -0.15pt">
</FONT>pr<FONT STYLE="letter-spacing: 0.05pt">e</FONT>sented at<FONT STYLE="letter-spacing: -0.1pt"> </FONT>fair<FONT STYLE="letter-spacing: -0.05pt">
</FONT>value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B><A NAME="a_005"></A>Supplementary
Information</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><A NAME="a_006"></A>Enbridge
Employee<FONT STYLE="letter-spacing: -0.6pt"> </FONT>Services,<FONT STYLE="letter-spacing: -0.5pt"> </FONT>Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Employees&rsquo;
Savings<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Plan&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>EIN:
76-0697621 PN:<FONT STYLE="letter-spacing: -0.25pt"> </FONT>001</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.65pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.65pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Form
5500<FONT STYLE="letter-spacing: -0.3pt"> </FONT>&ndash;<FONT STYLE="letter-spacing: -0.05pt"> </FONT>Schedule<FONT STYLE="letter-spacing: -0.55pt">
</FONT>H,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>Line<FONT STYLE="letter-spacing: -0.25pt"> </FONT>4i<FONT STYLE="letter-spacing: -0.1pt">
</FONT>&ndash;<FONT STYLE="letter-spacing: -0.05pt"> </FONT>Schedu<FONT STYLE="letter-spacing: 0.1pt">l</FONT>e<FONT STYLE="letter-spacing: -0.55pt">
</FONT>of<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Assets<FONT STYLE="letter-spacing: -0.35pt"> </FONT>(Held<FONT STYLE="letter-spacing: -0.35pt">
</FONT>at<FONT STYLE="letter-spacing: -0.1pt"> </FONT>End<FONT STYLE="letter-spacing: -0.25pt"> </FONT>of<FONT STYLE="letter-spacing: -0.1pt">
</FONT>Year)</B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B>December
31,<FONT STYLE="letter-spacing: -0.15pt"> </FONT>2014</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; vertical-align: middle">&nbsp;</TD><TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>c. Description of investment including</b></font></TD><TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>(in thousands)</b></font></TD><TD NOWRAP STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>a.</b></font></TD><TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; vertical-align: middle"><font style="font: 10pt Times New Roman, Times, Serif"><b>b. Identity of issue, borrower,</b></font></TD><TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>maturity date, rate of interest, par or</b></font></TD><TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>d.</b></font></TD><TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>e. Current</b></font></TD><TD NOWRAP STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; vertical-align: middle">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; vertical-align: middle"><font style="font: 10pt Times New Roman, Times, Serif"><b>lessor, or similar party</b></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>maturity value</b></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Cost**</b></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"><b>Value</b></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 35%; text-align: left; vertical-align: top">Dodge &amp; Cox Balanced Fund</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 36%; text-align: left">Investment of a Registered Investment Company</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">34,878</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">Dodge &amp; Cox International Stock Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Registered Investment Company</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,806</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">Pimco Total Return Fund, Institutional</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Registered Investment Company</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,379</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; vertical-align: top">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">T. Rowe Price Mid-Cap Growth Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Registered Investment Company</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38,671</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: top">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">T Rowe Price Equity Income Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Registered Investment Company</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,204</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; vertical-align: top">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">T. Rowe Price Small Cap Stock Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Registered Investment Company</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,792</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: top">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">T. Rowe Price Blue Chip Growth Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Registered Investment Company</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,454</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">Blackrock US debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Common/Collective Trust Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,892</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">Blackrock Strategic Compltn NL</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Common/Collective Trust Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">267</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">Blackrock Russell 3000 Index</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Common/Collective Trust Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,123</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">Blackrock MSWI ACWI Index</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Common/Collective Trust Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">Blackrock Lifepath Retirement Index</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Common/Collective Trust Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,767</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">BlackRock Lifepath Index 2020 Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Common/Collective Trust Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,431</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">BlackRock Lifepath Index 2025 Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Common/Collective Trust Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,910</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">BlackRock Lifepath Index 2030 Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Common/Collective Trust Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,574</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">BlackRock Lifepath Index 2035 Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Common/Collective Trust Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,056</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">BlackRock Lifepath Index 2040 Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Common/Collective Trust Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,716</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">BlackRock Lifepath Index 2045 Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Common/Collective Trust Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,164</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">BlackRock Lifepath Index 2050 Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Common/Collective Trust Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,935</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">BlackRock Lifepath Index 2055 Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Common/Collective Trust Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,584</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: top">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">T. Rowe Price Stable Value Trust Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment of a Common/Collective Trust Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,990</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-align: left; vertical-align: top">*</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt; vertical-align: top">Enbridge Inc. Stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">Common Stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">235,704</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total Investments</b></font></TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">485,338</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-align: left; vertical-align: top">*</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt; vertical-align: top">Notes Receivable from Participants</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">Interest rate range 4.25% - 5.0%; Maturity date range 12/18/2014 - 01/05/2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">-0-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,842</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left; vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">493,180</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0"><B>*Parties-in-Interest</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0"><B>**Cost<FONT STYLE="letter-spacing: -0.2pt"> </FONT>infor<FONT STYLE="letter-spacing: -0.1pt">m</FONT>a<FONT STYLE="letter-spacing: 0.05pt">t</FONT>ion<FONT STYLE="letter-spacing: -0.5pt">
</FONT>is<FONT STYLE="letter-spacing: -0.05pt"> </FONT>o<FONT STYLE="letter-spacing: -0.1pt">m</FONT>itted<FONT STYLE="letter-spacing: -0.35pt">
</FONT>because<FONT STYLE="letter-spacing: -0.35pt"> </FONT>these<FONT STYLE="letter-spacing: -0.25pt"> </FONT>inves<FONT STYLE="letter-spacing: 0.05pt">t</FONT><FONT STYLE="letter-spacing: -0.1pt">m</FONT>ents<FONT STYLE="letter-spacing: -0.55pt">
</FONT>are<FONT STYLE="letter-spacing: -0.15pt"> </FONT>participant-directed.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_007"></A>SIGNATURE </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report
to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0"></P>

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    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; text-decoration: underline"><FONT STYLE="font-size: 10pt"><B><U>ENBRIDGE EMPLOYEE SERVICES, INC.</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Registrant</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Dated: June 26, 2015</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Joan Gay</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Joan Gay</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Member of the Administrative Committee of the</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Enbridge Employee Service, Inc. Employees&rsquo; Savings</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Plan</FONT></TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B><A NAME="a_008"></A>EXHIBIT INDEX </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD NOWRAP STYLE="vertical-align: bottom; width: 12%; font-size: 10pt; border-bottom: Black 1pt solid"><font style="font-size: 10pt"><b>Exhibit&nbsp; No.</b></font></td>
    <TD STYLE="vertical-align: top; width: 2%; font-size: 10pt; text-align: center">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 86%; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 10pt"><b>Description</b></font></td></tr>
<tr>
    <TD STYLE="font-size: 10pt">&nbsp;</td>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</td>
    <TD STYLE="font-size: 10pt">&nbsp;</td></tr>
<tr>
    <TD NOWRAP STYLE="vertical-align: top; font-size: 10pt; text-align: center"><font style="font-size: 10pt">23.1</font></td>
    <TD STYLE="vertical-align: top; padding-left: 6.3pt; font-size: 10pt">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 0pt; font-size: 10pt; text-align: left"><font style="font-size: 10pt">Consent of McConnell &amp; Jones LLP</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-indent: -45pt"><B>&nbsp;</B></P>


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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>v413943_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 23.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-indent: -45pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We consent to the incorporation by reference in
Registration Statement No. 333-6436 of Enbridge, Inc. on Form S-8 of our report dated June 26, 2015, relating to the financial
statements and supplementary information of the Enbridge Employee Services, Inc. Employees&rsquo; Savings Plan (the Plan), which
appears in this Annual Report on Form 11-K of the Plan for the year ended December 31, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 50%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ McConnell &amp; Jones LLP</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Houston, Texas</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">June 26, 2015</FONT></TD>
    <TD>&nbsp;</TD></TR>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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