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On April 4, 2016, Spectra Energy Corp (the Company) entered into an Underwriting Agreement (the Underwriting Agreement) with Barclays Capital Inc. (the Underwriter), pursuant to which the Company agreed to offer and sell to the Underwriter 14,000,000 shares of the Companys common stock, par value $0.001 per share (the Common Stock), at a price to the public of $30.00 per share (the Offering). Pursuant to the Underwriting Agreement, the Company granted the Underwriter a 25-day option to purchase up to an additional 2,100,000 shares of Common Stock (the Option).

The Offering and the offer and sale of shares of Common Stock pursuant to the Option have been registered under the Securities Act of 1933, as amended (the Securities Act), pursuant to the Companys registration statemen t on Form S-3 (Registration No.333-188226) (the Registration Statement), and the prospectus supplement dated April 4, 2016 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on April 6, 2016. The Offering is expected to close on April 8, 2016, subject to customary closing conditions. The Underwriting Agreement is filed as Exhibit1.1 hereto. A legal opinion related to...