Pembina Pipeline Corporation Declares December 2021 Common Share Dividend and Announces 2022 Business Update Conference Call and Webcast

CALGARY, AB, Dec. 6, 2021 /PRNewswire/ -- 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 December 2021 of $0.21 per share to be paid, subject to applicable law, on January 14, 2022 to shareholders of record on December 31, 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 December 2021 cash dividend is expected to be approximately U.S. $0.1639 per share (before deduction of any applicable Canadian withholding tax) based on a currency exchange rate of 0.7803. 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.

Confirmation of Record and Payment Date Policy

Pembina pays cash dividends on its common shares in Canadian dollars on a monthly basis to shareholders of record on the 25^th calendar day of each month (except for the December record date, which is December 31st), if, as and when determined by the Board of Directors. Should the record date fall on a weekend or a statutory holiday, the effective record date will be the previous business day. The dividend payment date is the 15^th calendar day of the month following the record date. Should the payment date fall on a weekend or on a statutory holiday, the business day prior to the weekend or statutory holiday becomes the payment date.

2022 Guidance and Business Update Conference Call & Webcast

Pembina will host a webcast and conference call on Wednesday, December 8, 2021 at 9:00 a.m. MT (11:00 a.m. ET) where the Company's executive team will provide a general business update, including progress on environmental, social & governance priorities, and outline the Company's 2022 outlook. Randy Findlay, Chair of Pembina's Board of Directors will also be joining the call to provide a message from the Board. The conference call dial-in numbers for Canada and the U.S. are 647-792-1240 or 800-437-2398. A recording of the conference call will be available for replay until December 15, 2021 at 11:59 p.m. ET. To access the replay, please dial either 647-436-0148 or 888-203-1112 and enter the password 6464560.