Company: ENBSF
Filing Date: 2025-11-19
Form Type: 424B5
Source: 0001104659-25-114102
Chunk: 51

Company: ENBRIDGE INC
Filing Date: 2025-11-19
Form: 424B5
Chunk 51
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 on the holder’s
method of accounting for United States federal income tax purposes.

Interest paid by us on the
Notes is income from sources outside the United States for purposes of the rules regarding the foreign tax credit allowable to a
United States holder and will generally be “passive” category income for purposes of computing the foreign tax credit. The
rules governing the United States foreign tax credit are complex, and you are urged to consult your tax advisor regarding the availability
of claiming a United States foreign tax credit under your particular circumstances.

Purchase, Sale and Retirement of the Notes

A United States holder’s
tax basis in a Note generally will be its cost. 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), 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.

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.

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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