Company: ENBSF
Filing Date: 2025-06-16
Form Type: 424B5
Source: 0001104659-25-059675
Chunk: 83

Company: ENBRIDGE INC
Filing Date: 2025-06-16
Form: 424B5
Chunk 83
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8th
Floor, Toronto, Ontario, Canada M5J 2Y1. The co-registrar and co-transfer agent for the common shares in the United States is Computershare
Trust Company, N.A. at its principal office in Canton, Massachusetts.

Shareholder Rights Plan

The Corporation has a shareholder
rights plan (the “Shareholder Rights Plan”) that is designed to encourage the fair treatment of shareholders in connection
with any take-over bid for the Corporation. Rights issued under the Shareholder Rights Plan become exercisable when a person, and any
related parties, acquires or announces the intention to acquire 20% or more of the Corporation’s outstanding common shares without
complying with certain provisions set out in the Shareholder Rights Plan or without approval of the board of directors of the Corporation.
Should such an acquisition or announcement occur, each rights holder, other than the acquiring person and its related parties, will have
the right to purchase common shares of the Corporation at a 50% discount to the market price at that time. For further particulars, please
refer to the Shareholder Rights Plan, filed as Exhibit 4.10 to the Corporation’s Annual Report on Form 10-K for the year
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 liquid