Company: ENBSF
Filing Date: 2025-11-19
Form Type: 424B5
Source: 0001104659-25-114102
Chunk: 45

Company: ENBRIDGE INC
Filing Date: 2025-11-19
Form: 424B5
Chunk 45
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 Corporation believes to be reliable, but is subject to any changes that
may be instituted unilaterally by Clearstream.

Global Clearance and Settlement Procedures

Cross market transfers between
persons holding directly or indirectly through the Depositary, on the one hand, and directly or indirectly through Euroclear or Clearstream,
on the other, will be effected through the Depositary in accordance with Depositary rules on behalf of the relevant European international
clearing system by its U.S. depositary; however, such cross market transactions will require delivery of instructions to the relevant
European international clearing system by the counterparty in such system in accordance with its rules and procedures and within
its established deadlines (European time). The relevant European international clearing system will, if the transaction meets its settlement
requirements, deliver instructions to its U.S. depositary to take action to effect final settlement on its behalf by delivering or receiving
Notes through the Depositary, and making or receiving payment in accordance with normal procedures for same day funds settlement applicable
to the Depositary. Clearstream participants and Euroclear participants may not deliver instructions directly to their respective U.S.
depositaries.

Because of time zone differences,
credits of Notes received through Clearstream or Euroclear as a result of a transaction with a Depositary participant will be made during
subsequent securities settlement processing and dated the Business Day following the Depositary settlement date. Such credits or any transactions
in such Notes settled during that processing will be reported to the relevant Euroclear participants or Clearstream participants on that
following Business Day. Cash received in Clearstream or Euroclear as a result of sales of Notes by or through a Clearstream participant
or a Euroclear participant to a Depositary participant will be received with value on the Depositary settlement date but will be available
in the relevant Clearstream or Euroclear cash account only as of the Business Day following settlement with the Depositary.

Although the Depositary, Clearstream
and Euroclear have agreed to the foregoing procedures in order to facilitate transfers of Notes among participants of the Depositary,
Clearstream and Euroclear, they are under no obligation to perform or continue to perform those procedures and those procedures may be
modified or discontinued at any time. Neither we nor the paying agent will have any responsibility for the performance by the Depositary,
Euroclear or Clearstream or their respective direct or indirect participants of their obligations under the rules and procedures
governing their operations.

<div align='center'>S-30</div>

Consent to Jurisdiction and Service

Under