Company: ENBSF
Filing Date: 2025-11-19
Form Type: 424B5
Source: 0001104659-25-114102
Chunk: 74

Company: ENBRIDGE INC
Filing Date: 2025-11-19
Form: 424B5
Chunk 74
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 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.

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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 benefits therefrom (including
the anticipated benefits from the Acquisitions); evolving government trade policies, including potential and announced tariffs, duties,
fees, economic sanctions or other trade measures; operational dependence on third parties; dividend policy; project approval and support;
renewals of rights-of-way; weather; economic and competitive conditions; public opinion; changes in tax laws and tax rates;
exchange rates; inflation; interest rates; commodity prices; access to and cost of capital; our ability to maintain adequate insurance
in the future at commercially reasonable rates and terms; political decisions; global geopolitical conditions; and the supply of, demand
for and prices of commodities and other alternative energy, including but not limited to, those risks and uncertainties discussed in this
Prospectus and in our other filings with Canadian and U.S. securities regulators. The impact of any one assumption, risk, uncertainty
or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent and our future course
of action depends on management’s assessment of all information available at