Pembina and Inter Pipeline Successful in Alberta Securities Commission Hearing

Pembina Pipeline Corporation (“Pembina”) (TSX: PPL) (NYSE: PBA) today announced that the Alberta Securities Commission (the “ASC”) has dismissed, in its entirety, Brookfield’s application to terminate Pembina’s proposed plan of arrangement with Inter Pipeline Ltd. (“IPL” or “Inter Pipeline”) and has upheld the break fee that may be paid by IPL to Pembina under that arrangement in certain circumstances.

The ASC also determined that Brookfield’s Total Return Swaps (as defined below) in connection with Brookfield’s hostile take-over bid to acquire all of the outstanding common shares (the “IPL Shares”) of IPL (the “Brookfield Bid”) requires additional disclosure and required that a higher minimum tender threshold must be satisfied in connection with Brookfield’s bid.