恩桥 2026年季度报告

FORM 10-Q For the transition period fromtoCommission file number001-15254 ENBRIDGE INC. (Exact Name of Registrant as Specified in Its Charter) Name of each exchange on which registered New York Stock Exchange Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject tosuch filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submitsuch files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oran emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Accelerated filer Smaller reporting company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ The registrant had 2,183,696,415 common shares outstanding as at May 1, 2026. PART I Item 1.Financial Statements6Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations30Item 3.Quantitative and Qualitative Disclosures About Market Risk45Item 4.Controls and Procedures45 PART II Item 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSignatures GLOSSARY "we", "our", "us" and "Enbridge"AOCIArmy CorpsDistrict CourtEBITDAEEPEISEnbridge Gas OntarioExchange ActNGLOCIOEBOPEBRNGSEPthe Bandthe Partnershipsthe ReservationUSUS Gas Utilities / the Acquisitions Enbridge Inc.Accumulated other comprehensive income/(loss)the US Army Corps of Engineersthe US District Court for the Western District of WisconsinEarnings before interest, income taxes and depreciation and amortizationEnbridge Energy Partners, L.P.Environmental Impact StatementEnbridge Gas Inc.United States Securities Exchange Act of 1934, as amendedNatural Gas LiquidsOther comprehensive income/(loss)Ontario Energy BoardOther postretirement benefit obligationsRenewable natural gasSpectra Energy Partners, LPBad River Band of the Lake Superior Tribe of Chippewa IndiansSpectra Energy Partners, LP and Enbridge Energy Partners, L.P.The Bad River ReservationUnited States of AmericaEnbridge Inc.'s acquisitions of three US gas utilities from Dominion Energy,Inc.Vector Pipeline L.P. Vector CONVENTIONS The terms "we", "our", "us" and "Enbridge" as used in this report refer collectively to Enbridge Inc. and its subsidiariesunless the context suggests otherwise. These terms are used for convenience only and are not intended as a precisedescription of any separate legal entity within Enbridge. Unless otherwise specified, all dollar amounts are expressed in Canadian dollars, all references to "dollars" or "$" are toCanadian dollars and all references to "US$" are to United States (US) dollars. All amounts are provided on a before-tax basis, unless otherwise stated. FORWARD-LOOKING INFORMATION Forward-looking information, or forward-looking statements, have been included in this quarterly report on Form 10-Q to provideinformation about us and our subsidiaries and affiliates, including management’s assessment of our and our subsidiaries’ futureplans and operations. This information may not be appropriate for other purposes. Forward-looking statements are typically identifiedby words such as "anticipate", "believe", "estimate", "expect", "forecast", "intend", "likely", "plan", "project", "target" and similar wordssuggesting future outcomes or statements regarding an outlook. Forward-looking information or statements included or incorporatedby reference in this document include, but are not limited to, statements with respect to the following: our corporate vision andstrategy, including strategic priorities and enablers; expected supply of, demand for, exports of and prices of crude oil, natural gas,natural gas liquids (NGL), liquefied natural gas (LNG), renewable natural gas (RNG) and renewable energy; energy evolution andlower-carbon energy, and our approach thereto; our sustainability goals, practices and performance; industry and market conditions;ant