Stock & Dividend

Common Share Dividends

Pembina pays cash dividends on its common shares in Canadian dollars on a quarterly basis, on the last business day of March, June, September, and December to shareholders of record on the 15^th day of the corresponding month, 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 next succeeding business day.

Pembina Pipeline Corporation advises shareholders that all common share dividends paid will be designated as "eligible dividends" for Canadian income tax purposes, unless Pembina otherwise notifies its shareholders.

2023 Common Share Dividends

Declaration Date¹	Ex-Dividend Date²	Record Date³	Payment Date⁵	Amount per Share
May 04, 2023	Jun 14, 2023	Jun 15, 2023	Jun 30, 2023	$0.6675
Feb 23, 2023	Mar 14, 2023	Mar 15, 2023	Mar 31, 2023	$0.6525

2022 Common Share Dividends

Declaration Date¹	Ex-Dividend Date²	Record Date³	Payment Date⁴	Amount per Share
Dec 05, 2022	Dec 14, 2022	Dec 15, 2022	Dec 30, 2022	$0.2175
Nov 03, 2022	Nov 24, 2022 USA Nov 23rd \| Canada Nov 24th	Nov 25, 2022	Dec 15, 2022	$0.2175
Oct 06, 2022	Oct 24, 2022	Oct 25, 2022	Nov 15, 2022	$0.2175
Sep 07, 2022	Sep 22, 2022	Sep 23, 2022	Oct 14, 2022	$0.2175
Aug 04, 2022	Aug 24, 2022	Aug 25, 2022	Sep 15, 2022	$0.21
Jul 06, 2022	Jul 22, 2022	Jul 25, 2022	Aug 15, 2022	$0.21
Jun 06, 2022	Jun 23, 2022	Jun 24, 2022	Jul 15, 2022	$0.21
May 05, 2022	May 24, 2022	May 25, 2022	Jun 15, 2022	$0.21
Apr 06, 2022	Apr 22, 2022	Apr 25, 2022	May 13, 2022	$0.21
Mar 03, 2022	Mar 24, 2022	Mar 25, 2022	Apr 14, 2022	$0.21
Feb 03, 2022	Feb 24, 2022	Feb 25, 2022	Mar 15, 2022	$0.21
Jan 06, 2022	Jan 24, 2022	Jan 25, 2022	Feb 15, 2022	$0.21

1. Declaration date is minimum five business days before ex-dividend date.

2. As of September 5, 2017, the ex-dividend date is one business day before the dividend record date. Shareholders who purchased shares before the ex-dividend date will receive the common share dividend paid in the following month.

3. Shareholders on record by this date will qualify for the next cash common share dividend. To be on record by this date, investors must have purchased shares by the ex-dividend date so enrolment information has time to reach the transfer agency that manages dividends.

4. Payment date is the 15th of the month and if the 15th falls on a weekend or on a holiday the business day prior to the weekend or holiday becomes the payment date.

5. Payment date is the last business day of March, June, September, and December.

Preferred Shares

Pembina's TSX listed preferred shares are summarized in the table below:

Issue and TSX Symbol	Interest Rate per Annum	Par and Description	Dividend Dates	Redemption Dates	Related Documents
Series 1 PPL.PR.A	4.906 percent per annum for the five-year fixed rate period to but excluding December 1, 2023	$25.00 Cumulative redeemable rate reset class A	1st day of March, June, September and December	December 1, 2023 and on December 1 of every fifth year thereafter	Prospectus Supplement
Series 3 PPL.PR.C	4.478 percent per annum for the five-year fixed rate period to but excluding March 1, 2024	$25.00 Cumulative redeemable rate reset class A	1st day of March, June, September and December	March 1, 2024 and on March 1 of every fifth year thereafter	Prospectus Supplement
Series 5 PPL.PR.E	4.573 percent per annum, for the initial fixed rate period to but excluding June 1, 2024	$25.00 Cumulative redeemable rate reset class A	1st day of March, June, September and December	June 1, 2024 and on June 1 of every fifth year thereafter	Prospectus Supplement
Series 7 PPL.PR.G	4.38 percent per annum, for the five-year fixed rate period to but excluding December 1, 2024	$25.00 Cumulative redeemable rate reset class A	1st day of March, June, September and December	December 1, 2024 and on December 1 of every fifth year thereafter	Prospectus Supplement
Series 9 PPL.PR.I	4.302 percent per annum, for the five-year fixed rate period to but excluding December 1, 2025	$25.00 Cumulative redeemable rate reset class A	1st day of March, June, September and December	December 1, 2025 and on December 1 of every fifth year thereafter	Prospectus Supplement
Series 15 PPL.PR.O	6.164 percent per annum, for the five-year fixed rate period to but excluding September 30, 2027	$25.00 Cumulative redeemable rate reset class A	Last day of March, June, September and December	September 30, 2027 and on September 30 of every fifth year thereafter	Prospectus Supplement
Series 17 PPL.PR.Q	4.821 percent per annum, for the five-year fixed rate period to but excluding March 21, 2024	$25.00 Cumulative redeemable rate reset class A	Last day of March, June, September and December	March 31, 2024 and on March 31 of every fifth year thereafter	Prospectus Supplement
Series 19 PPL.PR.S	4.684 percent per annum, for the initial fixed rate period to but excluding June 30, 2025	$25.00 Cumulative redeemable rate reset class A	Last day of March, June, September and December	June 30, 2025 and on June 30 of every fifth year thereafter	Prospectus Supplement
Series 21 PPL.PF.A	6.302 percent per annum, for the five-year fixed rate period to but excluding March 1, 2028	$25.00 Cumulative redeemable minimum rate reset class A	1st day of March, June, September and December	March 1, 2028 and on March 1 of every fifth year thereafter	Prospectus Supplement
Series 22 PPL.PF.B	7.771 percent per annum, for the three-month floating rate period to but excluding September 1, 2023	$25.00 Cumulative redeemable minimum rate reset class A	1st day of March, June, September and December	March 1, 2028 and on March 1 of every fifth year thereafter	Prospectus Supplement
Series 25 PPL.PF.E	6.481 percent per annum, for the five-year fixed rate period to but excluding February 15, 2028	$25.00 Cumulative redeemable minimum rate reset class A	Fifteenth day of February, May, August and November	February 15, 2028 and on February 15 of every fifth year thereafter	Prospectus Supplement

(1) Should the dividend payment date fall on a weekend or statutory holiday, the dividend will be paid the following business day.

Premium Dividend & Dividend Reinvestment Plan

On March 7, 2017, Pembina announced that it's Board of Directors had suspended, until further notice, its Premium Dividend™ and Dividend Reinvestment Plan ("DRIP"), effective April 25, 2017. Accordingly, the March 2017 dividend will be the last divided to be reinvested through the DRIP and dividends starting in respect of the April 2017 dividend, payable on May 15, 2017 to shareholders of record on April 25, 2017, will not be reinvested through the DRIP. Shareholders who were enrolled in the program will automatically receive dividend payments in the form of cash. If Pembina elects to reinstate the DRIP in the future, shareholders that were enrolled in the DRIP at suspension and remained enrolled at reinstatement will automatically resume participation in the DRIP.

Pembina elected to suspend its DRIP in light of the near-term completion of the largest capital spending program in its history and the strength of its balance sheet. These projects are largely underpinned by long-term, fee-for-service contracts, which supports the Company's ability to internally fund new capital projects going forward, without further equity investment, and continue generating sustainable shareholder value on a per share basis.

™denotes trademark of Canaccord Genuity Corp.