An anonymous director reports

PEMBINA BUSINESS UPDATE HIGHLIGHTS STRATEGIC FOCUS AND GROWTH OUTLOOK

Pembina Pipeline Corp. will hold a webcast and conference call on Tuesday, April 7, 2026, at 8 a.m. MT (10 a.m. ET). During the call, Pembina's officer team will present a business update that reaffirms the company's long-standing commitment to disciplined execution; outlines the 3Cs strategy -- capture, connect, and catalyze; and provides a financial outlook to the end of the decade, including 5- to 7-per-cent compound annual fee-based adjusted-EBITDA-per-share (earnings before interest, taxes, depreciation and amortization) growth through 2030.

Foundation built on execution: doing what it says

Over more than 70 years as a leading North American energy infrastructure company, Pembina has built trust with customers, communities, employees and investors by consistently delivering on its commitments.

This record is highlighted by strong execution against financial targets, placing billions of dollars of capital projects into service on time and on or under budget, and adhering to disciplined financial guardrails. Pembina has consistently operated within its leverage targets, maintained its investment-grade credit rating and delivered a reliable, growing dividend without interruption. This execution discipline continues to guide Pembina's approach to project development, capital allocation and risk management.

The 3Cs strategy: capture, connect and catalyze

Pembina's strategy is underpinned by energy fundamentals and the advantages of its differentiated platform. The company is poised to benefit from growing global energy demand, increasing strategic relevance of Canadian energy and emerging demand drivers such as LNG (liquefied natural gas), petrochemicals and data centre power demand. The advantages of Pembina's integration, scale, superior market access, entrepreneurial approach and record of execution uniquely position it to further strengthen and extend its unmatched, industry-leading value chain.

Pembina's strategy includes three priorities:

• Capture -- growing and strengthening Pembina's core franchise in premier resource plays through expansions of pipeline, gas processing and fractionation capacity aligned with customer demand and basin fundamentals;
• Connect -- providing pathways for commodities to reach higher-value domestic and global markets through expanded egress, including LNG and LPG (liquefied petroleum gas) exports, and infrastructure that improves market access from constrained basins;
• Catalyze -- developing new demand platforms in the markets where Pembina operates, including gas-to-power solutions for data centres, supply for petrochemicals, and other initiatives that create incremental demand for products and services across Pembina's business.

Visible growth through 2030 and beyond

Supported by its strategy and operational and financial excellence, Pembina is committed to delivering 5- to 7-per-cent compound annual fee-based adjusted-EBITDA-per-share growth through 2030. This outlook is underpinned by higher utilization across existing assets, contributions from sanctioned projects entering service and a portfolio of development opportunities designed to extend the franchise.

Beyond 2030, Pembina's growth ambitions include continued investments in the core business to respond to volume growth and customer demand as well as additional investments in LNG, LPG, gas-to-power and emissions reductions infrastructure.

Pembina is moving forward from a position of strength, with a differentiated asset base, visible growth runway, and a proven operating and financial framework. The company remains focused on executing its strategy with discipline, maintaining strong financial guardrails, and creating long-term value for shareholders.

A live webcast of the conference call can be accessed on Pembina's website at Pembina (under Presentations & Events). A copy of the presentation will be available prior to the call and an archive of the webcast will be available following the call on Pembina's website.

2026 frac spread hedging update

Pembina has ratably entered into incremental hedges for 2026 to capture recent commodity price movements. Currently, approximately 65 per cent of Pembina's 2026 frac spread exposure has been hedged. On a quarterly basis, Pembina has hedged approximately 40 per cent in the first and fourth quarters and approximately 90 per cent in the second and third quarters. The weighted average price of Pembina's current frac spread hedges, excluding transportation and processing costs, is approximately $35.40 per barrel.

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 its 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 Stock Exchange and the New York Stock Exchange under the symbols PPL and PBA, respectively.

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