Enbridge Announces CDN$2.6 Billion Bought-Deal Common Share Offering

Overview

On September 9, 2026, Enbridge Inc. (NYSE: ENB / TSX: ENB) filed a Form 8-K under Item 7.01 (Regulation FD Disclosure) announcing an agreement for a bought-deal equity offering of common shares.

Key Terms of the Offering

• Securities Offered: 38,900,000 Common Shares
• Issue Price: CDN$66.85 per Common Share
• Aggregate Gross Proceeds: CDN$2.6 billion
• Over-Allotment Option: 15% additional shares exercisable within 30 days post-close, which would raise total gross proceeds to approximately CDN$3.0 billion if fully exercised.
• Expected Closing Date: On or about September 14, 2026.

Underwriters

• Lead Underwriters: RBC Capital Markets and CIBC Capital Markets
• Joint Bookrunners: Scotiabank, BMO Capital Markets, TD Securities Inc., and National Bank of Canada Capital Markets

Use of Proceeds

Enbridge intends to use net proceeds to:

1. Partially fund announced acquisitions
2. Create financial flexibility to fund potential future growth opportunities
3. Temporarily reduce indebtedness or invest in short-term liquid investments pending allocation