Company: ENBSF
Filing Date: 2025-11-19
Form Type: 424B5
Source: 0001104659-25-114102
Chunk: 18

Company: ENBRIDGE INC
Filing Date: 2025-11-19
Form: 424B5
Chunk 18
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 certain of the underwriters and affiliates of the underwriters, a portion of which we may repay with the net proceeds
from this offering. As a result, one or more of the underwriters or their affiliates may receive a portion of the net proceeds from this
offering. See “Underwriting” in this prospectus supplement.

<div align='center'>S-10

Description of the Notes and the Guarantees</div>

The following description
of the terms of the Notes and the guarantees supplements, and to the extent inconsistent therewith supersedes, the description of the
general terms and provisions of debt securities and guarantees under the heading “Description of Debt Securities and Guarantees”
in the accompanying prospectus, and should be read in conjunction with that description. In this section, the terms “Corporation”,
“Enbridge”, “we”, “us” or “our” refer only to Enbridge Inc. and not to its subsidiaries
and the term “Guarantors” refers to SEP and EEP.

The Notes of each series will
be issued under an indenture (as amended and supplemented from time to time, the “Indenture”), dated as of February 25,
2005, among the Corporation, the Guarantors and Deutsche Bank Trust Company Americas, as Trustee. The Notes will not be offered or sold
to persons in Canada pursuant to this prospectus supplement. The Trustee will initially serve as paying agent for the Notes. The following
summary of certain provisions of the Indenture and the Notes does not purport to be complete and is qualified in its entirety by reference
to the actual provisions of the Indenture.

General

The Trustee under the Indenture
is referred to in this section as the “Trustee”, which term shall include, unless the context otherwise requires, its successors
and assigns. Capitalized terms used but not defined in this section shall have the meanings given to them in the Indenture.

The Notes will be direct,
unsecured and unsubordinated obligations of the Corporation, issued under the Indenture and will rank equally with all other existing
and future unsecured and unsubordinated indebtedness of the Corporation other than preferred claims imposed by statute. The Notes will
be guaranteed by both Guarantors. See “— Guarantees” in this prospectus supplement. In addition, our business operations
are conducted substantially through our subsidiaries and through partnerships and joint ventures. The Notes will be structurally subordinated
to