An anonymous director reports

PEMBINA PIPELINE CORPORATION ANNOUNCES CONSIDERATION OF SUBORDINATED NOTE OFFERING

Pembina Pipeline Corp. is considering an offering of subordinated notes under its short-form base shelf prospectus dated Dec. 13, 2023.

If a successful offering is completed, the company intends to use the net proceeds of the offering to redeem its outstanding cumulative redeemable rate-reset Class A preferred shares, Series 9, and for general corporate purposes. There is no certainty that Pembina will ultimately complete the offering being considered or as to the terms or timing on which such an offering might be completed.

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 70 years. Pembina owns an extensive network of strategically located assets, including 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 the company's customers, investors, employees and communities.

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.