Pembina Pipeline Corporation Declares January 2021 Common Share Dividend

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 January 2021 of $0.21 per share to be paid, subject to applicable law, on February 12, 2021 to shareholders of record on January 25, 2021. 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 January 2021 cash dividend is expected to be approximately U.S. $0.1653 per share (before deduction of any applicable Canadian withholding tax) based on a currency exchange rate of 0.7870. 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, 11, 13, 15, 17, 19, 21, 23 and 25. Series 1, 3, 5, 7, 9, 11, 13 and 21 preferred share dividends are payable on March 1, 2021 to shareholders of record on February 1, 2021. Series 15, 17 and 19 preferred share dividends are payable on March 31, 2021 to shareholders of record on March 15, 2021. Series 23 and 25 preferred share dividends are payable on February 16, 2021 to shareholders of record on February 1, 2021.