CALGARY, AB, December 8, 2021 / CNW / – Pembina Pipeline Corporation (“Pembina”) (TSX: PPL) (NYSE: PBA) today announced that it has agreed to issue $ 1.0 billion senior unsecured medium term notes (the “Offer”). The Offer will be carried out in two stages consisting of $ 500 million in Senior Unsecured Medium Term Notes, Series 17 (the “Series 17 Notes”) having a fixed coupon of 3.53% per annum, paid semi-annually and maturing on December 10, 2031; and $ 500 million in Senior Unsecured Medium Term Notes, Series 18 (the “Series 18 Notes”) having a fixed coupon of 4.49% per annum, paid semi-annually and maturing on December 10, 2051.

The closing of the Offer should take place on December 10, 2021 and the net proceeds are intended to be used to repay the debt of the Company under its $ 2.5 billion revolving credit facility, as well as for general business purposes.

The Series 17 Notes and the Series 18 Notes are offered through a syndicate of dealers pursuant to Pembina’s short form base shelf prospectus dated November 29, 2021, supplemented by the corresponding tariff supplements dated December 8, 2021.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes in any jurisdiction. The Notes offered have not been approved or disapproved by any regulatory authority. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”), or any state securities law, and may not be offered or sold in United States.

About Pembina

CalgaryPembina Pipeline Corporation is a leading provider of transportation and intermediary services serving North America energy sector for over 65 years. Pembina has an integrated network of pipelines that transport a variety of liquid hydrocarbons and natural gas products produced primarily in the west Canada. The Company also has gas collection and treatment facilities; an infrastructure and logistics activity for petroleum liquids and natural gas; and develop an export terminal business. Pembina’s integrated assets and business operations along most of the hydrocarbon value chain enable it to provide a full range of intermediary and marketing services to the energy industry. Pembina is committed to identifying additional opportunities to connect hydrocarbon production to new demand locations through the development of infrastructure that would extend Pembina’s service offering even further along the hydrocarbon value chain. These new developments will help ensure that hydrocarbons produced in the Western Canada Sedimentary Basin and other basins in which Pembina operates can reach higher value markets around the world.

The story continues

Pembina’s goal:

To be the leader in providing integrated infrastructure solutions connecting global markets:

• Clients choose us first for reliable and value-added services.

• Investors receive sustainable total returns that are among the best in the industry.

• Employees say that we are the “employer of choice” and that we value our safe, respectful, collaborative and inclusive work culture.

• Communities welcome us and recognize the net positive impact of our social and environmental commitment.

Pembina is structured into three divisions: the Pipelines division, the Facilities division and the Marketing & New Ventures division.

Pembina’s common stock trades on the Toronto and New York stock exchanges under PPL and PBA, respectively. For more information, visit www.pembina.com.

Forward-looking information and statements

This document contains certain forward-looking statements and information (collectively, “forward-looking statements”) within the meaning of the “safe harbor” provisions of applicable securities laws that are based on Pembina’s current expectations, estimates, projections and assumptions at the light of his experience and his perception of historical trends. In some cases, forward-looking statements may be identified by words such as “intention”, “will”, “must” and similar expressions suggesting future events or future performance.

In particular, this press release contains forward-looking statements relating to the offering, including the expected closing date of the offering and the use of the net proceeds from the offering. These forward-looking statements are based on certain assumptions that Pembina has made with respect to them as of the date of this press release, including: levels of exploration and development activity in the oil and gas industry and the geographic region thereof. activity; that favorable market conditions exist and that Pembina has capital available for the repurchase of shares; the success of the Pembina operations; commodity prices, interest rates, carbon prices, tax rates and prevailing exchange rates; Pembina’s ability to maintain its current credit ratings; the availability of capital to finance future capital needs associated with existing assets and projects; future operating costs; geotechnical and integrity costs; that all required regulatory and environmental approvals can be obtained under the necessary conditions and in a timely manner; applicable regulatory, fiscal and environmental laws and regulations; maintaining operating margins; and certain other assumptions regarding Pembina’s forward-looking statements detailed in Pembina’s updated annual information form for the year ended December 31, 2020 (the “Annual Information Form”) and the updated management report for the fiscal year ended December 31, 2020 (the “Annual MD&A”), each of which was filed on SEDAR on November 18, 2021, in Pembina’s MD&A for the three and nine months ended September 30, 2021 (the “interim MD&A”) and from time to time in Pembina’s public information materials available at www.sedar.com, www.sec.gov and on Pembina’s website at www.pembina.com.

These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: environmental and regulatory decisions and Indigenous consultation requirements and landowners; the impact of competitive entities and prices; the use of third parties to successfully operate and maintain certain assets; the strength and operations of the oil and natural gas production industry and related commodity prices; breach or default of counterparties to agreements that Pembina or one or more of its affiliates has entered into in the course of its business; actions of government or regulatory authorities; Pembina’s ability to acquire or develop the necessary infrastructure for future development projects; fluctuations in operating results; unfavorable general economic and market conditions in Canada, North America and around the world; the risks associated with the current and potential negative impacts of the COVID-19 pandemic; the ability to access a variety of sources of debt and equity; changes in credit scores; counterparty credit risk; and certain other risks and uncertainties detailed in the Annual Information Form, Annual MD&A, Interim MD&A and from time to time in Pembina’s public disclosure documents available at www.sedar.com, www.sec.gov and on the Pembina website at www.pembina.com. In addition, the closing of the Offer may not be achieved, or may be delayed, if the conditions for the closing of the Offer are not met on time or not at all. Consequently, there is a risk that the Offer will not be completed on time, according to the terms currently offered, if at all. Pembina’s intended use of the net proceeds of the Offering may change if the Pembina Board of Directors determines that it would be in Pembina’s best interest to deploy the product for other purposes and there can be no assurance as to how or when this product can be used.

Therefore, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, predicted or projected. These forward-looking statements are expressly qualified by the above statements. Pembina assumes no obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable law.

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SOURCE Pembina Pipeline Corporation

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