An anonymous director reports

PEMBINA PIPELINE CORPORATION ANNOUNCES CONVERSION RESULTS FOR SERIES 3 PREFERRED SHARES

None of Pembina Pipeline Corp.'s cumulative redeemable rate reset Class A preferred shares, Series 3, will be converted into cumulative redeemable floating-rate Class A preferred shares, Series 4, of Pembina, on March 1, 2024.

After taking into account all the conversion notices received from holders of its outstanding Series 3 shares by the Feb. 15, 2024, deadline for the conversion of the Series 3 shares into Series 4 shares, fewer than the one million Series 3 shares required to give effect to conversions into Series 4 shares were tendered for conversion.

About Pembina Pipeline Corp.

Pembina is a leading energy transportation and mid-stream 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 an export terminals business. Through its integrated value chain, it seeks to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future, and benefit its customers, investors, employees and communities.

Purpose of Pembina: It delivers extraordinary energy solutions so the world can thrive.

Pembina is structured into three divisions: pipelines division, facilities division, and marketing and new ventures division.

Pembina's common shares trade on the Toronto and the New York stock exchanges under PPL and PBA, respectively.