Company: ENBSF
Filing Date: 2025-11-17
Form Type: 424B5
Source: 0001104659-25-112992
Chunk: 72

Company: ENBRIDGE INC
Filing Date: 2025-11-17
Form: 424B5
Chunk 72
---
 are cautioned against placing undue reliance on forward-looking statements.
By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which
may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements.
Material assumptions include assumptions about the following: the expected supply of, demand for, export of and prices of crude oil, natural
gas, NGL, LNG, RNG and renewable energy; anticipated utilization of assets; exchange rates; inflation; interest rates; tariffs and trade
policies; availability and price of labor and construction materials; the stability of our supply chain; operational reliability; maintenance
of support and regulatory approvals for our projects and transactions; anticipated in-service dates; weather; the timing, terms
and closing of acquisitions, dispositions and other transactions; the realization of anticipated benefits of transactions, including the
Acquisitions; governmental legislation; litigation; estimated future dividends and impact of our dividend policy on our future cash flows;
our credit ratings; capital project funding; hedging program; expected earnings before interest, income taxes and depreciation and amortization
(“EBITDA”); expected earnings/(loss); expected future cash flows; and expected distributable cash flow. Assumptions
regarding the expected supply of and demand for crude oil, natural gas, NGL, LNG, RNG and renewable energy, and the prices of these commodities,
are material to and underlie all forward-looking statements, as they may impact current and future levels of demand for our services.
Similarly, exchange rates, inflation, interest rates and tariffs impact the economies and business environments in which we operate and
may impact levels of demand for our services and cost of inputs, and are therefore inherent in all forward-looking statements. The most
relevant assumptions associated with forward-looking statements regarding announced projects and projects under construction, including
estimated completion dates and expected capital expenditures, include the following: the availability and price of labor and construction
materials; the stability of our supply chain; the effects of inflation and foreign exchange rates on labor and material costs; the effects
of interest rates on borrowing costs; the impact of weather and customer, government, court and regulatory approvals on construction and in-service schedules
and cost recovery regimes.

<div align='center'>2</div>

Our forward-looking statements are subject to risks
and uncertainties pertaining to the successful execution of our strategic priorities; operating performance; legislative and regulatory
parameters; litigation; acquisitions, dispositions and other transactions and the realization of anticipated