Enbridge raises CDN$2.6 billion in bought-deal offering

Canada NewsWire

The Canadian base shelf prospectus is accessible, and the Canadian prospectus supplement or any amendment will be accessible, within two business days through SEDAR+.

CALGARY, AB , Sept. 9, 2026 /CNW/ -- Enbridge Inc. (TSX: ENB) (NYSE: ENB) ("Enbridge" or the "Company") today announced that it has entered into an agreement with a syndicate of underwriters (the "Underwriters") led by RBC Capital Markets and CIBC Capital Markets, and including Scotiabank, BMO Capital Markets, TD Securities Inc., and National Bank of Canada Capital Markets as joint bookrunners, under which the Underwriters have agreed to purchase, on a bought deal basis, 38,900,000 common shares of the Company ("Common Shares") for aggregate gross proceeds of CDN$2.6 billion at an offering price of CDN$66.85 per Common Share (the "Offering").

Enbridge intends to use the net proceeds from the Offering to partially fund announced acquisitions and to create financial flexibility to fund potential future growth opportunities. A portion of the net proceeds of the Offering may be temporarily used to reduce indebtedness or invested in short-term liquid investments.

The Common Shares will be offered to the public in all of the provinces of Canada through the Underwriters and their affiliates by way of a Canadian prospectus supplement (the "Canadian Prospectus Supplement") to Enbridge's short form base shelf prospectus dated September 9, 2026 (the "Canadian Prospectus"). The Common Shares will be offered to the public in the United States pursuant to Enbridge's registration statement, including a prospectus (the "U.S. Prospectus"), filed with the U.S. Securities and Exchange Commission (the "SEC"), and a prospectus supplement (the "U.S. Prospectus Supplement") to the U.S. Prospectus. Before investing, prospective purchasers in Canada should read the Canadian Prospectus Supplement, the Canadian Prospectus and the documents incorporated by reference therein, and prospective purchasers in the United States should read the U.S. Prospectus, the U.S. Prospectus Supplement and the documents incorporated by reference therein for more complete information about Enbridge and the Offering in Canada and the United States, respectively. Common Shares may also be offered on a private placement basis in other international jurisdictions in reliance on applicable private placement exemptions.

The Offering is expected to close on or about September 14, 2026. Pursuant to the agreement, the Underwriters have an option to purchase up to 15% in additional Common Shares by providing notice to Enbridge at any time until the date that is 30 days after the closing of the Offering, to cover over-allotments, if any. If the over-allotment option is exercised in full, the aggregate gross proceeds from the Offering will be approximately CDN$3.0 billion.

Access to the Canadian Prospectus Supplement, the Canadian Prospectus and any amendment to these documents is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The Canadian Prospectus is, and the Canadian Prospectus Supplement will be (within two business days of the date hereof), available on SEDAR+ ( http://www.sedarplus.ca ). A copy of the U.S. Prospectus is, and a copy of the U.S. Prospectus Supplement will be, available on the SEC website ( http://www.sec.gov ). Potential investors can request, without charge, electronic or paper copies of the Canadian Prospectus and Canadian Prospectus Supplement from RBC Dominion Securities Inc., 180 Wellington Street West, 8th Floor, Toronto, ON M5J 0C2, Attention: Distribution Centre via email at Distribution RBCDS@rbccm.com, or from CIBC Capital Markets, 161 Bay Street, 5 th Floor, Toronto, ON M5J 2S8, or via telephone: 1-416-956-6378, or via email at Mailbox.CanadianProspectus@cibc.com. Potential investors can request, without charge, electronic or paper copies of the U.S. Prospectus and U.S. Prospectus Supplement from RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, Attention: Equity Syndicate, or via telephone: 877-822-4089, or via email at equityprospectus@rbccm.com, or CIBC Capital Markets, 161 Bay Street, 5 th Floor, Toronto, ON M5J 2S8, or via telephone at 1-416-956-6378, or via email at Mailbox.USProspectus@cibc.com .