Company: ENBSF
Filing Date: 2025-11-17
Form Type: 424B5
Source: 0001104659-25-112992
Chunk: 51

Company: ENBRIDGE INC
Filing Date: 2025-11-17
Form: 424B5
Chunk 51
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; (v) is not an entity in respect of which the Corporation
is a “specified entity” as defined in subsection 18.4(1) of the Tax Act and is not a “specified entity” in
respect of any transferee resident (or deemed to be resident) in Canada to whom the purchaser disposes of the Notes; (vi) is entitled
to all payments under the Notes; and (vii) does not use or hold and is not deemed to use or hold a Note in carrying on business in
Canada (a “Non-Resident Holder”). This summary is based on the current provisions of the Tax Act, proposed amendments to the
Tax Act publicly announced prior to the date of this prospectus supplement (the “Proposed Amendments”) and counsel’s
understanding of the current published administrative policies of the CRA in effect as of the date hereof. This summary is not exhaustive
of all possible Canadian federal income tax considerations applicable to a Non-Resident Holder and does not anticipate any changes in
law or administrative practice, nor does it take into account provincial, territorial or foreign tax considerations, which may differ
significantly from those discussed herein. There can be no assurance that the Proposed Amendments will be enacted as proposed or at all.
Special rules, which are not discussed below, may apply to a Non-Resident Holder that is an insurer which carries on an insurance business
in Canada and elsewhere. This summary assumes that no amount paid or payable to a
Non-Resident Holder will be the deduction component of a “hybrid mismatch arrangement” under which the payment arises within
the meaning of paragraph 18.4(3)(b) of the Tax Act.

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This summary is of a general nature only and is not, and is not intended to be, and should not be construed to be, legal or tax advice to any particular Non-Resident Holder and no representation with respect to the income tax consequences to any particular Non-Resident Holder is made. Prospective purchasers of Notes should consult their own tax advisors with respect to the tax consequences of acquiring, holding and disposing of Notes having regard to their own particular circumstances.

Under the Tax Act, the payment
of interest, principal or premium, if any, to a Non-Resident Holder of a Note by the Corporation will be exempt from Canadian non-resident
withholding tax. No other taxes on income or capital gains will be payable under the Tax Act