(unaudited; in

millions, except per
unit amounts)

Operating revenues:

Commodity sales

Commodity sales - affiliate

Transportation and other services

Transportation and other services - affiliate

Operating expenses:

Commodity costs

Commodity costs - affiliate

Environmental costs, net of recoveries

Operating and administrative

Operating and administrative - affiliate

Power

Depreciation and amortization

Operating income

Interest expense, net

Allowance for equity used during construction

Other income (expense)

Income before income tax expense

Income tax expense

Net income

Less: Net income attributable to:

Noncontrolling interest

Series 1 preferred unit distributions

Accretion of discount on Series 1 preferred units

Net income attributable to general and limited partner ownership interests in Enbridge Energy Partners, L.P

Net income allocable to common units and i-units

Net income per common unit and i-unit (basic)

Weighted average common units and i-units outstanding (basic)

Net income per common unit and i-unit (diluted)

Weighted average common units and i-units outstanding (diluted)

Cash provided by operating activities:

Net income

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

Derivative fair value net losses

Inventory market price adjustments

Environmental costs, net of recoveries

Distributions from investments in joint ventures

Equity loss (earnings) from investments in joint ventures

Allowance for equity used during construction

Other

Changes in operating assets and liabilities, net of acquisitions:

Receivables, trade and other

Due from General Partner and affiliates

Accrued receivables

Inventory

Current and long-term other assets

Due to General Partner and affiliates

Accounts payable and other

Environmental liabilities

Accrued purchases

Interest payable

Property and other taxes payable

Net cash provided by operating activities

Cash used in investing activities:

Additions to property, plant and equipment

Asset acquisitions

Changes in restricted cash

Investments in joint ventures

Distributions from investments in joint ventures in excess of cumulative earnings

Other

Net cash used in investing activities

Cash provided by financing activities:

Net proceeds from unit issuances

Distributions to partners

Repayments to General Partner

Net borrowings (repayments) under credit facility

Net commercial paper borrowings

Contributions from noncontrolling interest

Distributions to noncontrolling interest

Net cash provided by financing activities

Net increase in cash and cash equivalents

Cash and cash equivalents at beginning of year

Cash and cash equivalents at end of period

Current assets:

Cash and cash equivalents

Restricted cash

Receivables, trade and other, net of allowance for doubtful accounts of $1.8 million at March 31, 2015 and December 31, 2014

Due from General Partner and affiliates

Accrued receivables

Inventory

Other current assets

Property, plant and equipment, net

Goodwill

Intangible assets, net

Other assets, net

Current liabilities:

Due to General Partner and affiliates

Accounts payable and other

Environmental liabilities

Accrued purchases

Interest payable

Property and other taxes payable

Note payable to General Partner

Long-term debt

Due to General Partner and affiliates

Other long-term liabilities

Commitments and contingencies

Partners’ capital:

Series 1 preferred units (48,000,000 authorized and issued at March 31, 2015 and December 31, 2014)

Class D units (66,100,000 authorized and issued at March 31, 2015 and December 31, 2014)

Class E units (18,114,975 authorized and issued at March 31, 2015)

Class A common units (262,208,428 and 254,208,428 authorized and issued at March 31, 2015 and December 31, 2014, respectively)

Class B common units (7,825,500 authorized and issued at March 31, 2015 and December 31, 2014)

i-units (69,343,562 and 68,305,187 authorized and issued at March 31, 2015 and December 31, 2014, respectively)

Incentive distribution units (1,000 authorized and issued at March 31, 2015 and December 31, 2014)

General Partner

Accumulated other comprehensive loss

Total Enbridge Energy Partners, L.P. partners’ capital

Noncontrolling interest

Total partners’ capital

Distribution Targets

Portion of Quarterly
Distribution Per Unit

Minimum Quarterly Distribution

First Target Distribution

⁽¹⁾ 

For distributions in excess of the Minimum Quarterly Distribution, this percentage includes both the General Partner’s distributions of 2% and the distribution to the Incentive Distribution Unit holder, a wholly-owned subsidiary of our General Partner.

Distribution Targets

Minimum Quarterly Distribution

First Target Distribution

Second Target Distribution

Over Second Target Distribution

Net income

Less Net income attributable to:

Noncontrolling interest

Series 1 preferred unit distributions

Accretion of discount on Series 1 preferred units

Net income attributable to general and limited partner interests in

Enbridge Energy Partners, L.P.

Less distributions:

Incentive distributions

Distributed earnings attributed to our General Partner

Distributed earnings attributed to Class D and Class E units

Total distributed earnings to our General Partner, Class D and Class E units and IDUs

Total distributed earnings attributed to our common units and i-units

Total distributed earnings

Overdistributed earnings

Weighted average common units and i-units outstanding

Basic and diluted earnings per unit:

Distributed earnings per common unit and i-unit ⁽¹⁾

Overdistributed earnings per common unit and i-unit ⁽²⁾

Net income per common unit and i-unit (basic and diluted) ⁽³⁾

⁽¹⁾ 

Represents the total distributed earnings to common units and i-units divided by the weighted average number of common units and i-units outstanding for the period.

⁽²⁾ 

Represents the common units’ and i-units’ share (98%) of distributions in excess of earnings divided by the weighted average number of common units and i-units outstanding for the period and overdistributed earnings allocated to the common units and i-units based on the distribution waterfall that is outlined in our partnership agreement.

⁽³⁾ 

For the three-month period ended March 31, 2015, 43,201,310 anti-dilutive Preferred units, 66,100,000 anti-dilutive Class D units and 18,114,975 anti-dilutive Class E units were excluded from the if-converted method of calculating diluted earnings per unit. For the three-month period ended March 31, 2014, 43,201,310 anti-dilutive Preferred units were excluded from the if-converted method of calculating diluted earnings per unit.

•

Liquids; and

•

Natural Gas.

Operating revenues: ⁽²⁾

Commodity sales

Transportation and other services

Commodity costs

Environmental costs, net of recoveries

Operating and administrative

Power

Depreciation and amortization

Operating income (loss)

Interest expense, net

Allowance for equity used during construction

Other income

Income (loss) before income tax expense

Income tax expense

Net income (loss)

Less: Net income attributable to:

Noncontrolling interest

Series 1 preferred unit distributions

Accretion of discount on Series 1 preferred units

Net income (loss) attributable to general and limited partner ownership interests in Enbridge Energy Partners, L.P.

Total assets

Capital expenditures (excluding acquisitions)

⁽¹⁾ 

Corporate consists of interest expense, interest income, allowance for equity used during construction, noncontrolling interest and other costs such as income taxes, which are not allocated to the business segments.

⁽²⁾ 

There were no intersegment revenues for the three-month period ended March 31, 2015.

⁽³⁾ 

Other income (expense) for our Natural Gas segment includes our equity investment in the Texas Express NGL system.

⁽⁴⁾ 

Total assets for our Natural Gas segment includes $380.1 million for our long term equity investment in the Texas Express NGL system.

Operating revenues:

Commodity sales

Transportation and other services

Commodity costs

Environmental costs, net of recoveries

Operating and administrative

Power

Depreciation and amortization

Operating income

Interest expense, net

Allowance for equity used during construction

Other income (expense)

Income (loss) before income tax expense

Income tax expense

Net income (loss)

Less: Net income attributable to

Noncontrolling interest

Series 1 preferred unit distributions

Accretion of discount on Series 1 preferred units

Net income (loss) attributable to general and limited partner ownership interests in Enbridge Energy Partners, L.P.

Total assets

Capital expenditures (excluding acquisitions)

⁽¹⁾ 

Corporate consists of interest expense, interest income, allowance for equity used during construction, noncontrolling interest and other costs such as income taxes, which are not allocated to the business segments.

⁽²⁾ 

Total segment revenue and intersegment revenue for the natural gas segment for the three-month period ended March 31, 2014 was corrected to eliminate intra-segment revenue of $318.7 million that was recorded in error and previously reported on our Quarterly Report on Form 10-Q for the three-month period ended March 31, 2014. This error did not impact previously reported segment operating revenue or consolidated operating revenue for the three-month period ended March 31, 2014.

⁽³⁾ 

Other income (expense) for our Natural Gas Segment includes our equity investment in the Texas Express NGL system.

⁽⁴⁾ 

Total assets for our Natural Gas segment includes $375.7 million for our long term equity investment in the Texas Express NGL system.