Company: ENBSF
Filing Date: 2025-11-19
Form Type: 424B5
Source: 0001104659-25-114102
Chunk: 83

Company: ENBRIDGE INC
Filing Date: 2025-11-19
Form: 424B5
Chunk 83
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 if any, interest and other amounts shall become
due and payable. The guarantee of any debt securities is intended to be a general, unsecured, senior obligation of each of the Guarantors
and will rank pari passu in right of payment with all indebtedness of each Guarantor that is not, by its terms, expressly
subordinated in right of payment to the guarantee.

The guarantees of either Guarantor will be unconditionally
released and discharged automatically upon the occurrence of any of the following events:

| ● | any direct or indirect sale, exchange or transfer, whether by way of merger, sale or transfer of equity interests or otherwise, to     
 any person that is not an affiliate of Enbridge, of any of Enbridge’s direct or indirect limited partnership or other equity interests 
 in such Guarantor as a result of which such Guarantor ceases to be a consolidated subsidiary of Enbridge;                              |

| ● | the merger of such Guarantor into Enbridge or the other Guarantor or the liquidation and dissolution of 
 such Guarantor;                                                                                         |

| ● | with respect to any series of debt securities, the repayment in full or discharge or defeasance of such 
 debt securities (each as contemplated by the Indenture or any applicable supplemental indenture);       |

<div align='center'>Description of Share Capital</div>

In this section, the terms “Corporation”
and “Enbridge” refer only to Enbridge Inc. and not to its subsidiaries, partnerships or joint venture interests. The
following sets forth the terms and provisions of the existing capital of the Corporation. The following description is subject to, and
qualified by reference to, the terms and provisions of the Corporation’s articles and by-laws. The Corporation is authorized
to issue an unlimited number of common shares and an unlimited number of preference shares, issuable in series.

<div align='center'>8</div>

Common Shares

Each common share of the Corporation entitles the
holder to one vote for each common share held at all meetings of shareholders of the Corporation, except meetings at which only holders
of another specified class or series of shares are entitled to vote, to receive dividends if, as and when declared by the board of directors
of the Corporation, subject to prior satisfaction of preferential dividends applicable to any preference shares, and to participate ratably
in any distribution of the assets of the Corporation upon a liquidation, dissolution or winding up, subject to prior rights and privileges
attaching to the preference shares