An anonymous director reports

PEMBINA PIPELINE CORPORATION ANNOUNCES CONVERSION RESULTS FOR SERIES 17 PREFERRED SHARES

None of Pembina Pipeline Corp.'s cumulative redeemable rate reset Class A preferred shares, Series 17, will be converted into cumulative redeemable floating rate Class A preferred shares, Series 18, of Pembina on March 31, 2024.

After taking into account all the conversion notices received from holders of its outstanding Series 17 shares by the March 18, 2024, deadline for the conversion of the Series 17 shares into Series 18 shares, less than the one million Series 17 shares required to give effect to conversions into Series 18 shares were tendered for conversion.

About Pembina Pipeline Corp.

Pembina Pipeline is a leading energy transportation and mid-stream service provider that has served North America's energy industry for 70 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, Pembina 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: to deliver 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 New York stock exchanges under PPL and PBA, respectively.