Pembina Pipeline Corporation Declares November 2022 Common Share Dividend

Pembina Pipeline Corporation announced that its Board of Directors has declared a common share cash dividend for November 2022 of $0.2175 per share to be paid, subject to applicable law, on December 15, 2022, to shareholders of record on November 25, 2022. 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 November 2022 cash dividend is expected to be approximately U.S. $0.1596 per share (before deduction of any applicable Canadian withholding tax) based on a currency exchange rate of 0.7337. 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.

Subject to approval of future common share dividends by the Board of Directors, Pembina intends to move from a monthly to a quarterly common share dividend payment, with payments to be made in March, June, September and December of each year. Subject to approval by the Board of Directors, the monthly dividend is expected to end with the dividend to be declared in early December 2022 and paid on December 30, 2022, to shareholders of record on December 15, 2022. The first quarterly dividend is expected to be effective for the dividend to be paid in March 2023.

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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