Company: ENBSF
Filing Date: 2025-11-19
Form Type: 424B5
Source: 0001104659-25-114102
Chunk: 17

Company: ENBRIDGE INC
Filing Date: 2025-11-19
Form: 424B5
Chunk 17
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71,836 |   |     |             |  71,836 |   |
| Additional paid-in capital                       |     |                          |     240 |   |     |             |     240 |   |
| Deficit                                          |     |                          | (19,064 | ) |     |             | (19,064 | ) |
| Accumulated other comprehensive income           |     |                          |   5,352 |   |     |             |   5,352 |   |
| Total Enbridge Inc. shareholders’ equity         |     |                          |  65,182 |   |     |             |  65,182 |   |
| Total capitalization                             |     | $                        | 165,784 |   |     | $           | 167,872 |   |

| (1) | Cash and cash equivalents on an adjusted basis exclude the net proceeds from this offering. |

| (2) | As at September 30, 2025, long-term debt includes $11,705 million of outstanding commercial paper 
 borrowings and credit facility draws and excludes the Notes offered hereby.                       |

| (3) | Does not reflect (i) the repayment of $20 million aggregate                                                                       
 principal amount of 8.85% medium-term notes of Enbridge Gas Inc. on October 2, 2025, (ii) the repayment of $25 million aggregate  
 principal amount of 8.80% medium-term notes of Westcoast Energy Inc. on November 3, 2025, and (iii) the repayment of $125 million 
 aggregate principal amount of 8.65% debentures of Union Gas Limited on November 10, 2025.                                         |

<div align='center'>S-9

Use of Proceeds</div>

We estimate that the net proceeds
from this offering of the Notes, after deducting underwriting discounts and commissions and the estimated expenses of this offering, will
be approximately US$1,487,502,000. We intend to use the net proceeds from this offering to reduce our existing indebtedness, to finance future growth opportunities, including
acquisitions, if any, and capital expenditures or for other general corporate purposes. The Corporation may invest funds that it does
not immediately require in deposit accounts, money market funds, short-term marketable debt securities, and U.S. government sponsored
enterprise obligations and corporate obligations.

We may have outstanding existing
indebtedness owing to