Company: ENBSF
Filing Date: 2025-11-19
Form Type: 424B5
Source: 0001104659-25-114102
Chunk: 31

Company: ENBRIDGE INC
Filing Date: 2025-11-19
Form: 424B5
Chunk 31
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 transfer or lease of properties and assets of the Corporation substantially as
an entirety, the successor to the Corporation will succeed to every right and power of the Corporation under the Indenture, and, except
in the case of a lease, the Corporation will be relieved of all obligations and covenants under the Indenture and the Notes.

<div align='center'>S-20</div>

Payment of Additional Amounts

The Corporation will, subject
to the exceptions and limitations set forth below, pay to any Noteholder of any series of Notes who is a non-resident of Canada under
the Income Tax Act (Canada) and the regulations thereunder (collectively, the “Tax Act”) such additional
amounts as may be necessary so that every net payment on the Notes held by such Noteholder, after deduction or withholding by the Corporation
or any of its paying agents for or on account of any present or future tax, assessment or other governmental charge (including penalties,
interest and other liabilities related thereto) imposed by the government of Canada (or any political subdivision or taxing authority
thereof or therein) (collectively, “Canadian Taxes”) upon or as a result of such payment, will not be less than the amount
provided in those Notes to be then due and payable (and the Corporation will remit the full amount withheld to the relevant authority
in accordance with applicable law). However, the Corporation will not be required to make any payment of additional amounts:

| (a) | to any person in respect of whom such Canadian Taxes are required to be withheld or deducted as a result of such                                       
 person or any other person that has a beneficial interest in respect of any payment under those Notes (i) not dealing at arm’s                         
 length with the Corporation (within the meaning of the Tax Act), (ii) being a “specified shareholder” (as defined in                                   
 subsection 18(5) of the Tax Act) of the Corporation,  (iii) not dealing at arm’s length (for the purposes of the Tax                                   
 Act) with such a “specified shareholder”, or (iv) being an entity in respect of which the Corporation is a “specified entity” as defined in subsection 
 18.4(1) of the Tax Act;                                                                                                                                |

| (b) | to any person by reason of such person being connected with Canada (otherwise than merely by holding or                                      
 ownership of those Notes or receiving any payments or exercising any rights thereunder), including without limitation