Company: ENBSF
Filing Date: 2025-06-18
Form Type: 424B5
Source: 0001104659-25-060642
Chunk: 52

Company: ENBRIDGE INC
Filing Date: 2025-06-18
Form: 424B5
Chunk 52
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 Note generally will be its cost, reduced, in the case of a New 2054 Note, by any pre-issuance accrued interest previously
received. A United States holder will generally recognize capital gain or loss on the sale or retirement of a Note equal to the difference
between the amount realized on the sale or retirement, excluding any amounts attributable to accrued but unpaid interest (which will be
taxable as ordinary interest income to the extent not previously included in income except to the extent that such amounts are a return
of pre-issuance accrued interest), and such holder’s tax basis in the Note. Capital gain of a noncorporate United States holder
is generally taxed at preferential rates where the holder has a holding period greater than one year.

| S-37 |

Gain or loss on the sale or
retirement of a Note generally will be treated as United States source income or loss for United States federal income tax purposes
and for purposes of computing the United States foreign tax credit allowable to you, unless such gain or loss is attributable to
an office or other fixed place of business outside of the United States and certain other conditions are met.

Backup Withholding and Information Reporting

For noncorporate United States
holders, information reporting requirements, on Internal Revenue Service Form 1099, generally will apply to payments of principal
and interest on a Note within the United States, including payments made by wire transfer from outside the United States to
an account maintained in the United States, and the payment of the proceeds from the sale of a Note effected at a United States
office of a broker. Additionally, backup withholding may apply to such payments if a noncorporate United States holder fails to provide
an accurate taxpayer identification number, (in the case of interest payments) is notified by the Service that the holder has failed to
report all interest and dividends required to be shown on the holder’s United States federal income tax returns, or, in certain
circumstances, fails to comply with applicable certification requirements.

Information with Respect to Foreign Financial Assets

Owners of “specified
foreign financial assets” with an aggregate value in excess of $50,000 (and in certain circumstances, a higher threshold) may
be required to file an information report with respect to such assets with their tax returns. “Specified foreign financial assets”
may include financial accounts maintained by foreign financial institutions, as well as the following, but only if they are held for investment
and not held in accounts maintained by financial institutions: (i