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Pembina Pipeline Corporation Declares July 2022 Common Share Dividend, Quarterly Preferred Share Dividend and Announces Second Quarter 2022 Results Conference Call and Webcast

Press Release

CALGARY, AB, July 6, 2022  – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL) (NYSE: PBA) announced today that its Board of Directors has declared a common share cash dividend for July 2022 of $0.21 per share to be paid, subject to applicable law, on August 15, 2022 to shareholders of record on July 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 July 2022 cash dividend is expected to be approximately U.S. $0.1611 per share (before deduction of any applicable Canadian withholding tax) based on a currency exchange rate of 0.7670. 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’s Board of Directors also declared quarterly dividends for the Company’s preferred shares, Series 1, 3, 5, 7, 9, 15, 17, 19, 21, 23 and 25. Series 1, 3, 5, 7, 9 and 21 preferred share dividends are payable on September 1, 2022 to shareholders of record on August 2, 2022. Series 15, 17 and 19 preferred share dividends are payable on October 3, 2022 to shareholders of record on September 15, 2022. Series 23 and 25 preferred share dividends are payable on August 15, 2022 to shareholders of record on August 2, 2022.

Series

Dividend Amount

Preferred Shares, Series 1   (PPL.PR.A)

$0.306625

Preferred Shares, Series 3   (PPL.PR.C)

$0.279875

Preferred Shares, Series 5   (PPL.PR.E)

$0.285813

Preferred Shares, Series 7   (PPL.PR.G)

$0.273750

Preferred Shares, Series 9   (PPL.PR.I)

$0.268875

Preferred Shares, Series 15 (PPL.PR.O)

$0.279000

Preferred Shares, Series 17 (PPL.PR.Q)

$0.301313

Preferred Shares, Series 19 (PPL.PR.S)

$0.292750

Preferred Shares, Series 21 (PPL.PF.A)

$0.306250

Preferred Shares, Series 23 (PPL.PF.C)

$0.328125

Preferred Shares, Series 25 (PPL.PF.E)

$0.325000

Confirmation of Record and Payment Date Policy

Pembina pays cash dividends on its common shares in Canadian dollars on a monthly basis to shareholders of record on the 25th day of each month (except for the December record date, which is December 31st), 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 15th 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.

Dividends on the preferred shares Series 1, 3, 5, 7, 9 and 21 are payable on the first day of March, June, September and December in each year, if, as and when declared by the Board of Directors to shareholders of record on the first day of the preceding month, or, if such payment or record date is not a business day, the next succeeding business day after the weekend or statutory holiday. Dividends on the preferred shares Series 15, 17 and 19 are payable on the last day of March, June, September and December in each year, if, as and when declared by the Board of Directors to shareholders of record on the 15th day of the same month, or, if such payment or record date is not a business day, the next succeeding business day after the weekend or statutory holiday. Dividends on the preferred shares Series 23 and 25 are payable on the 15th day of February, May, August and November in each year, if, as and when declared by the Board of Directors to shareholders of record on the last day of the preceding month, or, if such payment or record date is not a business day, the next succeeding business day after the weekend or statutory holiday.

Conference Call and Webcast Details for Second Quarter 2022 Results

Pembina will release its second quarter 2022 results on Thursday, August 4, 2022 after markets close. A conference call and webcast have been scheduled for Friday, August 5, 2022, at 8:00 a.m. MT (10:00 a.m. ET) for interested investors, analysts, brokers and media representatives.

The conference call dial-in numbers for Canada and the U.S. are 1-647-792-1240 or 1-800-437-2398. A recording of the conference call will be available for replay until August 12, 2022 at 11:59 p.m. ET. To access the replay, please dial either 1-647-436-0148 or 1-888-203-1112 and enter the password 3331229.

A live webcast of the conference call can be accessed on Pembina’s website at www.pembina.com under Investor Centre, Presentation & Events, or by entering:

https://produceredition.webcasts.com/starthere.jsp?ei=1501654&tp_key=8352814379 in your web browser. Shortly after the call, an audio archive will be posted on the website for a minimum of 90 days.

About Pembina

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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