ENB:CC - MLPs Leading The Way For Midstream Buybacks In Q4'21

• During the fourth quarter, energy infrastructure companies repurchased $650 million of their equity in aggregate, with MLPs accounting for the bulk of activity.
• For Alerian’s broad midstream benchmark (AMNA), companies with buyback authorizations account for 75.1% of the index by weighting as of the end of February.
• With the outlook for significant free cash flow intact as capital budgets remain moderate, companies are enjoying financial flexibility and optionality with how they return cash to shareholders, whether it be through buybacks or dividends.

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