First Quarter 2013 Earnings Presentation

May 1, 2013 Slides posted at www.enbridgepartners.com/q

Legal Notice

2

This presentation includes certain forward looking information (“FLI”) to provide Enbridge Energy Partners, L.P. (“EEP”) and Enbridge Energy Management, L.L.C. (“EEQ”) investors and potential investors with information about EEP and EEQ and management’s assessment of the future plans and operations, which may not be appropriate for other purposes. FLI involves statements that frequently use words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “position,” “projection,” “should,” “strategy”, “will” and similar words. Although we believe that such forward looking statements are reasonable based on currently available information, such statements involve risks, uncertainties and assumptions and are not guarantees of performance. Future actions, conditions or events and future results of operations may differ materially from those expressed in these forward-looking statements. Many of the factors that will determine these results are beyond Enbridge Partners’ ability to control or predict. Specific factors that could cause actual results to differ from those in the forward-looking statements include: (1) changes in the demand for or the supply of, forecast data for and price trends related to crude oil, liquid petroleum, natural gas and NGLs, including the rate of development of the Alberta Oil Sands; (2) Enbridge Partners’ ability to successfully complete and finance expansion projects; (3) the effects of competition, in particular, by other pipeline systems; (4) shut-downs or cutbacks at facilities of Enbridge Partners or refineries, petrochemical plants, utilities or other businesses for which Enbridge Partners transports products or to whom Enbridge Partners sells products; (5) hazards and operating risks that may not be covered fully by insurance; (6) changes in or challenges to Enbridge Partners’ tariff rates; and (7) changes in laws or regulations to which Enbridge Partners is subject, including compliance with environmental and operational safety regulations that may increase costs of system integrity testing and maintenance.

Our FLI is subject to risks and uncertainties pertaining to operating performance, regulatory parameters, project approval and support, weather, economic conditions, interest rates and commodity prices, including but not limited to those discussed more extensively in our filings with U.S. securities regulators. The impact of any one risk, uncertainty or factor on any particular FLI is not determinable with certainty as these are interdependent and our future course of action depends on management’s assessment of all information available at the relevant time. Except to the extent required by law, we assume no obligation to publicly update or revise any FLI, whether as a result of new information, future events or otherwise. All FLI in this presentation is expressly qualified in its entirety by these cautionary statements. You are referred to EEP’s and EEQ’s SEC filings, including its most recently filed Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q, for a more detailed discussion of risk factors. This presentation makes reference to certain financial measures, such as adjusted net income, which are not recognized under generally accepted accounting principles, referred to as GAAP.

Agenda

3

1. Project Update

2. Market Access Program

3. Financial Highlights

4. Question & Answer

Project Update

4

Liquids

Bakken Pipeline Expansion

Bakken Berthold Rail

Bakken Access

Line 6B 75-mile replacement

Eastern Access (Line 5 exp. )

Mainline Expansions

Sandpiper

Natural Gas

Ajax gas plant

Texas Express NGL Pipeline

U/C

U/C

U/C

U/C

In-service

Under construction

Being phased-in

Regulatory process

U/C

G&P Growth Update – Expand ETX Processing

Capacity

5

Project Overview

• Construction of 150 MMcf/d cryogenic natural gas processing plant – Beckville Plant (Panola county)

Will expand EEP’s processing capacity in ETX Cotton Valley/Haynesville region to 820 MMcf/d

Capital investment ~$140 million; attractive EBITDA multiple; in-service early 2015

Cotton Valley: covers 10 counties in ETX; region currently produces ~ 1.8 Bcf/d of natural gas,

with 72 kbpd of associated NGLs ~2.5-3.0 GPM gas

Expand G&P Strategic Asset Footprint

Consistent with EEP strategy to optimize existing infrastructure

Competitive advantage due to extensive gathering footprint

Incremental NGL volumes will enhance EEP’s downstream integration strategy

Increases East Texas volume diversification

Generates incremental distributable cash flow ~ accretive growth

Potential for additional investment opportunities

Commercial Underpinnings

• Combination of fee + commodity based contracts with acreage dedication

Active large-scale producers in the region

Linking North American Crude Supply Growth

to Refining Centers

Cushing

Houston

Chicago/ Flanagan

Port Arthur

1

3

2

Enbridge Energy Partners Projects (EEP) ~ $7.3B*

Sandpiper Pipeline Project ($2.5B)

• +225/375 kbpd early 2016

US Mainline Expansions ($2.4B):

Line 67 Expansion (border to Superior)

• +350 kbpd, total 800 kbpd; 3Q14 to 2015

Line 61 Expansion (Superior to Flanagan)

• +800 kbpd, total 1,200 kbpd; 3Q14 to 2016

Chicago Connectivity

• +570 kbpd Line 62 twin mid-2015

Eastern Access Expansions ($2.4B):

Line 5 Expansion

• +50 kbpd 2Q13

Line 62 Spearhead North Expansion

• +105 kbpd 4Q13

Line 6B Replacement

• +260 kbpd late 2013/early 2014; +70 kbpd early 2016

Eastern Access & US Mainline Expansions

EEP/ENB joint funded *represents total capital before joint funding

3

1

2

3

6

Montreal

Superior

Canadian/U.S. East

Coast Refinery Markets

U.S. Gulf Coast

Refinery Markets

Sarnia

EEP North Dakota System

Patoka

Enbridge (ENB) & Enbridge Partners (EEP)

Market Access Programs

U.S. Gulf Coast Access

Eastern Access

Light Oil Market Access 4

5

4

5

6

5

1

2

4

6

6

U.S. Mid-West

Refinery Markets

Enbridge Inc. Projects (ENB) Seaway Pipeline - ENB and EPD JV

• +400 kbpd 1Q13

Flanagan South Pipeline

• +585 kbpd (36” line) mid-2014

Seaway Pipeline Twin & Lateral

• ENB and EPD JV; +450k bpd 1H 2014

Toledo Pipeline Partial Twin

• +80 kbpd 2013

Line 9 Reversal & Expansion

• +240 kbpd late 2013, 2014;+80 kbpd 2014

Southern Access Extension

• +300 kbpd 2015

Trunkline JV

• +440 to 660 kbpd 2015

1

Growth Projects:

Commercially secured

Low-risk framework

Long-term contracts

5 2

3

4

5

6

7

Memphis

St. James

7

Delivering Low-Risk Sustainable Growth

7

Note:

Eastern Access and Mainline Expansion liquids expansion projects are jointly funded by EEP & ENB.

Commercial Structure

- Commodity/Volume Sensitive - Take-or-Pay - Cost of Service

Expected Project In-Service Period 1H13 2H13 1H14 2H14 1H15 2H15 1H16

Liquids Projects

Bakken Pipeline Expansion

Bakken Rail

Bakken Access

Eastern Access: Line 6B repl., Line 5, Line 62 exp.

Mainline Expansion: Line 61 and 67 Exp. Phase 1

Mainline Expansion: Line 61 and 67 Exp. Phase 2

Mainline Expansion: Line 62 Twin (Chicago Connectivity)

Sandpiper

Eastern Access: Line 6B exp. and Tankage

Natural Gas Projects

Ajax Plant

Texas Express NGL Pipeline JV

Business Mix & Risk Profile

*Note: based on 2013 forecast

Liquids Pipelines

80%

Natural Gas 20%

Operating Income*

0%

20%

40%

60%

80%

100%

2008 2009 2010 2011 2012 2013 2014 2015 2016

60%

12%

18%

59%

23%

28%

Commodity

Fee-Based

Cost of Service /

Take-or-Pay

Crude oil projects progressively transform EEP to lower risk business model

Cost of Service/Take-or-Pay: Contribution from Liquids and Natural Gas business cost of service and take-or-pay contracts.

Fee-based: Contribution from Liquids and Natural Gas business fee-based service. Commodity Sensitive: Contribution from Natural Gas business from its commodities length (before hedging).

Contribution is based on revenues from Liquids segment and gross margin from Natural Gas segment, including non-controlling interest.

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Financial Highlights

1Q 109.2 1Q

95.7

0

50

100

2012 2013

$ m

illio

ns

Excludes earnings attributable to non-controlling interest

Adjusted Net Income Adjusted EBITDA

Adjusted Earnings Per Unit As-declared Coverage Ratio

1Q 291.5

1Q 281.0

0

50

100

150

200

250

300

2012 2013

$ m

illio

ns

Includes non-controlling interest

1Q $0.28

1Q $0.21

$0.00

$0.10

$0.20

$0.30

2012 2013Excludes earnings attributable to non-controlling interest

YTD 0.79x

YTD 0.79x

0.00x

0.20x

0.40x

0.60x

0.80x

1.00x

2012 2013

Unaudited; adjusted results exclude the impact of: (a) additional environmental costs, net of insurance recoveries, associated with the incident on Line 6B; and (b) non-cash, mark-to-

market net gains and losses; among other adjustments. Refer to the Non-GAAP Reconciliation tables presented in the supplemental slides.

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Liquids Segment Results

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1.86 1.81 1.76 1.74 1.84

0.24 0.24

0.21 0.21

0.22

0.22 0.22

0.21 0.17

0.13

-

0.50

1.00

1.50

2.00

2.50

1Q12 2Q12 3Q12 4Q12 1Q13

Volu

me b

y S

yste

m (

mm

bpd)

Lakehead Mid-Continent North Dakota

159.0 155.5 153.5

133.0

154.3

0

50

100

150

200

1Q12 2Q12 3Q12 4Q12 1Q13

$ m

illio

ns

Adjusted Operating Income Volumes

Unaudited; adjusted results exclude the impact of: (a) additional environmental costs, net of insurance recoveries, associated with the incident on Line 6B; and (b) non-cash, mark-to-

market net gains and losses; among other adjustments. Refer to the Non-GAAP Reconciliation tables presented in the supplemental slides.

Natural Gas Segment

11

Adjusted Operating Income Volumes / Rig Count

52.5

43.3

60.2

42.9

26.4

0

10

20

30

40

50

60

70

1Q12 2Q12 3Q12 4Q12 1Q13

$ m

illio

ns

942 1,062 1,065 998 964

1,319 1,291 1,219

1,233 1,252

315 332

343 333 332

-

100

200

300

400

500

600

700

800

-

500

1,000

1,500

2,000

2,500

3,000

1Q12 2Q12 3Q12 4Q12 1Q13

Avera

ge R

ig C

ount

EE

P M

ain

Regio

ns

Volu

me b

y S

yste

m (

mm

btu

/d in

thousands)

Anadarko East Texas North Texas Rig Count

Unaudited; adjusted results exclude the impact of: (a) non-cash, mark-to-market net gains and losses; among other adjustments. Refer to the Non-GAAP Reconciliation tables

presented in the supplemental slides.

Forecasted Capital Expenditures

2013 Capital Expenditures Forecast Available Liquidity

1 Eastern Access and US Mainline Expansion capital expenditures are forecasted net of joint funding, with assumed Enbridge Inc. 60% funding; all amounts in $ millions.

Core Maintenance $130

Eastern Access1 490

US Mainline Expansions1 130

North Dakota Expansion & Rail 185

Line 6B 75-mile Replacement 95

Liquids Integrity 275

Cushing Storage 45

Liquids Other Growth Enhancements 290

Ajax Gas Processing Plant 55

Texas Express NGL Pipeline 185

NG Other Growth Enhancements 275

Total $2,155

12

1,283

1,611

228

242

0

500

1,000

1,500

2,000

12/31/2012 3/31/2013

$ millions Credit Facilities Cash

1,852

1,511

Strong investment grade credit profile (BBB/Baa2)

Executed on ~$273 million public

offering of EEQ shares in 1Q13

Joint Funding with Enbridge

enhances financing flexibility

13

Strengthening Distribution Coverage

Secured growth projects improve distribution coverage

0.00x

0.25x

0.50x

0.75x

1.00x

1.25x

2006 2007 2008 2009 2010 2011 2012 2013(e) 2016(e)

Long Range

Coverage

Target

Guidance range

Transition to high end of

distribution growth target

Co

vera

ge*

* Coverage includes EEQ paid-in-kind distribution.

Key Takeaways

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• Operational excellence, system integrity, safety and project

execution are top priorities

• Growth projects entered service in first quarter

– Distributable cash flow growth will continue to ramp-up and coverage

strengthens as organic growth projects enter service

• Secured Liquids growth projects collectively further transform the

Partnership to lower risk business model

• Strong liquidity position secured to support organic growth platform

• Maintaining investment grade credit rating is a priority

• Distribution growth: targeting 2% to 5% annual growth