Enbridge Launches Common Share Offering to Fund Strategic Infrastructure Acquisitions

Enbridge Inc. (ENB) – Form 424B5 Prospectus Supplement Summary

Overview of Offering

Enbridge Inc. has filed a preliminary prospectus supplement under Rule 424(b)(5) for a public equity offering of Common Shares in Canada and the United States.

• Issuer: Enbridge Inc.
• Securities Offered: Common Shares (with an Over-Allotment Option exercisable for 30 days).
• Listing: TSX and NYSE under ticker symbol ENB (Closing price on Sept 8, 2026: C$69.69 on TSX / US$50.48 on NYSE).
• Underwriters: RBC Capital Markets, CIBC Capital Markets, Scotiabank, BMO Capital Markets, TD Securities, and National Bank of Canada Financial Markets.
• Insider Participation: Certain directors and executive officers have indicated non-binding interest to purchase ~$1.82 million of Offered Shares.

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Use of Proceeds & Recent Strategic Acquisitions

Proceeds will be utilized to partially fund recent acquisitions and support capital flexibility:

1. Tallgrass Acquisition (US$2.55 Billion): Acquisition of a portfolio of crude oil infrastructure assets in the Rockies corridor, including a 75% equity interest in Pony Express Pipeline, a 51% interest in Powder River Gateway, and ~8.4M barrels of storage capacity.
2. Salt Creek Acquisition (US$600 Million): Acquisition of Salt Creek Midstream's crude oil gathering assets in the Permian Basin (Orla, Wink North, and 50% in Delaware Crossing).
3. Westcoast System Joint Venture: Definitive agreement with KKR/Apollo to invest ~$2.7B in Westcoast pipeline expansion programs, with Enbridge receiving ~$0.7B in initial cash at closing on September 3, 2026.

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Capital Structure & Financial Position (as of June 30, 2026)

• Cash and Cash Equivalents: C$2,012 million
• Long-Term Debt (excluding current portion): C$103,852 million
• Shareholders' Equity: C$65,349 million
• Common Shares Outstanding (as of August 31, 2026): 2,184,108,639 shares