Pembina Pipeline Investor Presentation — January 2020

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TSX: PPL | NYSE: PBA

January 2020Forward -looking statements and information

This presentation contains certain forward -looking statements

and information that arebased onPembina's expectations,

estimates, projections and assumptions inlight ofits

experience anditsperception ofhistorical trends aswell as

current market conditions and perceived business

opportunities .Insome cases, forward -looking information can

beidentified byterminology such as"expects", "will", "would",

"anticipates", "plans", "estimates", "develop", "intends",

"potential", "continue", "could", "forecast", "create", "keep",

and similar expressions suggesting future events orfuture

Inparticular, this presentation contains forward -looking

statements, including certain financial outlooks, pertaining to,

without limitation :financial results andfinancial ratios related

toand growth opportunities including :adjusted EBITDA

expectations, volume expectations, revenue amounts and

sources, future capital program, capital expenditures,

anticipated capacity, timing ofkey decisions, capital cost

expectations, andin-service dates forgrowth projects, further

expansion opportunities, counterparty exposure, fee-for-

service cash flows, future dividends which may bedeclared

onPembina's common shares and any future dividend

payment date;theongoing utilization andexpansions ofand

additions toPembina's business and asset base,

expectations regarding future commodity market supply,

demand andpricing andsupply anddemand forhydrocarbon