Company: ENBSF
Filing Date: 2025-06-16
Form Type: 424B5
Source: 0001104659-25-059675
Chunk: 82

Company: ENBRIDGE INC
Filing Date: 2025-06-16
Form: 424B5
Chunk 82
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antor will be unconditionally
released and discharged automatically upon the occurrence of any of the following events:

| · | any direct or indirect sale, exchange                                                         
 or transfer, whether by way of merger, sale or transfer of equity interests or otherwise,     
 to any person that is not an affiliate of Enbridge, of any of Enbridge’s direct or            
 indirect limited partnership or other equity interests in such Guarantor as a result of which 
 such Guarantor ceases to be a consolidated subsidiary of Enbridge;                            |

| · | the merger of such Guarantor into Enbridge                                   
 or the other Guarantor or the liquidation and dissolution of such Guarantor; |

| · | with respect to any series of debt                                                         
 securities, the repayment in full or discharge or defeasance of such debt securities (each 
 as contemplated by the Indenture or any applicable supplemental indenture);                |

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DESCRIPTION OF SHARE CAPITAL</div>

In this section, the terms
“Corporation” and “Enbridge” refer only to Enbridge Inc. and not to its subsidiaries, partnerships
or joint venture interests. The following sets forth the terms and provisions of the existing capital of the Corporation. The following
description is subject to, and qualified by reference to, the terms and provisions of the Corporation’s articles and by-laws. The
Corporation is authorized to issue an unlimited number of common shares and an unlimited number of preference shares, issuable in series.

Common Shares

Each common share of the
Corporation entitles the holder to one vote for each common share held at all meetings of shareholders of the Corporation, except meetings
at which only holders of another specified class or series of shares are entitled to vote, to receive dividends if, as and when declared
by the board of directors of the Corporation, subject to prior satisfaction of preferential dividends applicable to any preference shares,
and to participate ratably in any distribution of the assets of the Corporation upon a liquidation, dissolution or winding up, subject
to prior rights and privileges attaching to the preference shares.

Under the dividend reinvestment
and share purchase plan of the Corporation, registered shareholders may reinvest their dividends in additional common shares of the Corporation
or make optional cash payments to purchase additional common shares, in either case, free of brokerage or other charges.

The registrar and transfer
agent for the common shares in Canada is Computershare Trust Company of Canada at its principal office at 100 University Avenue,