Pembina Pipeline Corporation Declares September 2022 Common Share Dividend

Pembina Pipeline Corporation announced that its Board of Directors has declared a common share cash dividend for September 2022 of $0.2175 per share to be paid, subject to applicable law, on October 14, 2022, to shareholders of record on September 23, 2022. As previously announced, Pembina’s Board of Directors approved a $0.0075 per common share increase to its monthly common share dividend rate to $0.2175 in connection with the closing of the Pembina Gas Infrastructure transaction. The common share dividends are designated “eligible dividends” for Canadian income tax purposes. For non-resident shareholders, Pembina’s common share dividends should be considered “qualified dividends” and may be subject to Canadian withholding tax.

For shareholders receiving their common share dividends in U.S. funds, the September 2022 cash dividend is expected to be approximately U.S. $0.1655 per share (before deduction of any applicable Canadian withholding tax) based on a currency exchange rate of 0.7611. The actual U.S. dollar dividend will depend on the Canadian/U.S. dollar exchange rate on the payment date and will be subject to applicable withholding taxes.

Pembina pays cash dividends on its common shares in Canadian dollars on a monthly basis to shareholders of record on the 25^th day of each month (except for the December record date, which is December 31^st), if, as and when determined by the Board of Directors. Should the record date fall on a weekend or a statutory holiday, the effective record date will be the previous business day. The dividend payment date is the 15^th day of the month following the record date. Should the payment date fall on a weekend or on a statutory holiday, the business day prior to the weekend or statutory holiday becomes the payment date.

Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America’s energy industry for more than 65 years. Pembina owns an integrated network of hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and a growing export terminals business. Through our integrated value chain, we seek to provide safe and reliable infrastructure solutions which connect producers and consumers of energy across the world, support a more sustainable future and benefit our customers, investors, employees and communities. For more information, please visit pembina.com.

Purpose of Pembina:

To be the leader in delivering integrated infrastructure solutions connecting global markets:

• Customers choose us first for reliable and value-added services;
• Investors receive sustainable industry-leading total returns;
• Employees say we are the ’employer of choice’ and value our safe, respectful, collaborative and inclusive work culture; and
• Communities welcome us and recognize the net positive impact of our social and environmental commitment.

Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division.

Pembina’s common shares trade on the Toronto and New York stock exchanges under PPL and PBA, respectively. For more information, visit www.pembina.com.

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