Pembina Pipeline Investor Presentation — May 2017

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Investor Day | M a y 1 6 , 2017 | TSX: PPL; NYSE: PBAForward -looking statements and information

This presentation contains certain forward -looking statements and

information that are based onPembina's expectations, estimates,

projections andassumptions inlight ofitsexperience anditsperception of

historical trends aswell ascurrent market conditions and perceived

business opportunities .Insome cases, forward -looking information canbe

identified byterminology such as"expects", "will", "would", "anticipates",

"plans", "estimates", "develop", "intends", "potential", "continue", "could",

"create", "keep", andsimilar expressions suggesting future events orfuture

Inparticular, this presentation contains forward -looking statements,

including certain financial outlooks, pertaining to,without limitation :the

proposed acquisition ofVeresen Inc.(the "Transaction"), including the

expected closing date and theanticipated benefits oftheTransaction to

Pembina's and Veresen's securityholders, the expected size and

processing capabilities ofthecombined company, aswell asanticipated

synergies (including strategic integration and diversification opportunities,

taxbenefits and theaccretion tocash flow ofPembina), financial results

andfinancial ratios related toandgrowth opportunities associated with the

assets acquired pursuant totheTransaction and thecombined entity

including :EBITDA expectations, future capital program, integrity

expenditure, capital expenditures, anticipated capacity andin-service dates

forgrowth projects, enterprise value, counterparty exposure, fee-for-service