Company: ENBSF
Filing Date: 2025-06-18
Form Type: 424B5
Source: 0001104659-25-060642
Chunk: 84

Company: ENBRIDGE INC
Filing Date: 2025-06-18
Form: 424B5
Chunk 84
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ended December 31, 2021, which is herein incorporated by reference.

Preference Shares

Shares Issuable in Series

The preference shares may
be issued at any time or from time to time in one or more series. Before any shares of a series are issued, the board of directors of
the Corporation shall fix the number of shares that will form such series and shall, subject to the limitations set out in the articles
of the Corporation, determine the designation, rights, privileges, restrictions and conditions to be attached to the preference shares
of such series, except that no series shall be granted the right to vote at a general meeting of the shareholders of the Corporation
or the right to be convertible or exchangeable for common shares, directly or indirectly.

For preference shares issued
that are to be convertible into other securities of the Corporation, including other series of preference shares, no amounts will be
payable to convert those preference shares.

Priority

The preference shares
of each series shall rank on parity with the preference shares of every other series with respect to dividends and return of capital
and shall be entitled to a preference over the common shares and over any other shares ranking junior to the preference shares with
respect to priority in payment of dividends and in the distribution of assets in the event of liquidation, dissolution or winding-up
of the Corporation, whether voluntary or involuntary, or any other distribution of the assets of the Corporation among its
shareholders for the purpose of winding-up its affairs.

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Voting Rights

Except as required by law,
holders of the preference shares as a class shall not be entitled to receive notice of, to attend or to vote at any meeting of the shareholders
of the Corporation, provided that the rights, privileges, restrictions and conditions attached to the preference shares as a class may
be added to, changed or removed only with the approval of the holders of the preference shares given in such manner as may then be required
by law, at a meeting of the holders of the preference shares duly called for that purpose.

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MATERIAL INCOME TAX CONSIDERATIONS</div>

The applicable Prospectus
Supplement will describe material Canadian federal income tax consequences to an investor of acquiring any Securities offered thereunder,
if applicable, including whether the payments of dividends on common shares or preference shares or payments of principal, premium, if
any, and interest on debt securities payable to a non-resident of Canada will be subject to Canadian non