Company: ENBSF
Filing Date: 2025-11-17
Form Type: 424B5
Source: 0001104659-25-112992
Chunk: 35

Company: ENBRIDGE INC
Filing Date: 2025-11-17
Form: 424B5
Chunk 35
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 the Notes may be amended or supplemented, without the consent
of any holder of debt securities, in order, among other purposes, to cure any ambiguity or inconsistency or to make any change that does
not have an adverse effect on the rights of any holder of the debt securities.

<div align='center'>S-24</div>

Defeasance

The Indenture provides that,
at its option, the Corporation will be discharged from any and all obligations in respect of the outstanding notes of any series of the
Notes upon irrevocable deposit with the Trustee, in trust, of money and/or United States government securities which will provide money
in an amount sufficient in the opinion of a nationally recognized firm of independent public accountants to pay the principal of and premium,
if any, and each installment of interest, if any, on the outstanding notes of such series of Notes (“Defeasance”) (except
with respect to the authentication, transfer, exchange or replacement of Notes or the maintenance of a Place of Payment and certain other
obligations set forth in the Indenture). Such trust may only be established if among other things (1) the Corporation has delivered
to the Trustee an opinion of counsel in the United States stating that (a) the Corporation has received from, or there has been published
by, the Internal Revenue Service a ruling, or (b) since the date of execution of the Indenture, there has been a change in the applicable
United States federal income tax law, in either case to the effect that the holders of the outstanding notes of such series of the Notes
will not recognize income, gain or loss for United States federal income tax purposes as a result of such Defeasance and will be subject
to United States federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such
Defeasance had not occurred; (2) the Corporation has delivered to the Trustee an opinion of counsel in Canada or a ruling from the
Canada Revenue Agency (“CRA”) to the effect that the holders of the outstanding notes of such series of the Notes will not
recognize income, gain or loss for Canadian federal, provincial or territorial income or other tax purposes as a result of such Defeasance
and will be subject to Canadian federal or provincial income and other tax on the same amounts, in the same manner and at the same times
as would have been the case had such Def