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ENBRIDGE INC

For the period ended Dec 31, 2025. Filed Feb 13, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 13, 2026

ENB$47.76+0.8%Stored close · as of Nov 10, 2026

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Item 3. Legal Proceedings

We are involved in various legal and regulatory actions and proceedings which arise in the ordinary course of business. While the final outcome of such actions and proceedings cannot be predicted with certainty, management believes that the resolution of such actions and proceedings will not have a material impact on our consolidated financial position or results of operations. Refer to Part II. Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations - Legal and Other Updatesfor discussion of certain legal proceedings with recent developments.

SEC regulations require the disclosure of any proceeding under environmental laws to which a governmental authority is a party unless the registrant reasonably believes it will not result in monetary sanctions over a certain threshold. Given the size of our operations, we have elected to use a threshold of US$1 million for the purposes of determining proceedings requiring disclosure.

On December 22, 2025, Enbridge and the Minnesota Department of Natural Resources (DNR) reached an agreement to address an aquifer breach related to construction of the Line 3 Replacement Project at the Moose Lake Site in Aitkin County, Minnesota. The agreement closes the DNR’s enforcement related to the Moose Lake Site. Under the agreement, Enbridge agreed to fund $100,000 for ongoing DNR monitoring of the Moose Lake Site and pay a penalty of $300,000. Enbridge also agreed to fund $1.2 million in Supplemental Environmental Projects to benefit area natural resources and establish financial assurance in the amount of $1.2 million for mitigation of any potential future impacts related to the area resources. From the fall of 2022 through 2023, Enbridge performed corrective actions designed to stabilize the site under DNR oversight. Enbridge and the DNR will continue to monitor the Moose Lake Site and no additional action is anticipated.

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