Company: ENBSF
Filing Date: 2025-11-17
Form Type: 424B5
Source: 0001104659-25-112992
Chunk: 54

Company: ENBRIDGE INC
Filing Date: 2025-11-17
Form: 424B5
Chunk 54
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, they are not obligated to do so, and they may discontinue any market-making activities with respect
to the Notes at any time without notice. No assurance can be given as to the liquidity of the trading market for the Notes or that an
active public market for the Notes will develop. If an active public trading market for the Notes does not develop, the market price and
liquidity of the Notes may be adversely affected.

The following table shows
the underwriting discounts and commissions that we will pay the underwriters in connection with this offering (expressed as a percentage
of the principal amount of the Notes).

|               |     | Paid by  
 Enbridge |     |   |
| Per 2028 Note |     |          |     | % |
| Per 2031 Note |     |          |     | % |
| Per 2035 Note |     |          |     | % |

We estimate that our total
expenses for this offering, excluding underwriting discounts and commissions, will be US$ .

The underwriters or their
respective affiliates perform and have performed commercial banking, investment banking and advisory services for us from time to time
for which they receive and have received customary fees and expenses. The underwriters and their affiliates may, from time to time, engage
in transactions with and perform services for us in the ordinary course of their business. In addition, in the ordinary course of their
business activities, the underwriters and their affiliates may make or hold a broad array of investments and actively trade debt and equity
securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the accounts
of their customers. These investments and securities activities may involve securities and/or instruments of ours or our affiliates. The
underwriters and their affiliates may also make investment recommendations and/or publish or express independent research views in respect
of these securities or financial instruments and may hold, or recommend to clients that they acquire, long and/or short positions in these
securities and instruments.

<div align='center'>S-39</div>

As at September 30, 2025,
the Corporation had approximately $3 million and US$419 million of outstanding unsecured indebtedness under its unsecured credit
facilities. In addition, as at September 30, 2025, approximately $7,960 million and US$3,185 million of the Corporation’s
unsecured credit facilities were used as a backstop to support outstanding commercial paper balances. The Corporation