Pembina Pipeline Investor Presentation — May 2018

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Annual Meeting |May 4, 2018 | TSX: PPL; NYSE: PBAForward -looking statements and information

This presentation isforinformation purposes only and isnotintended to,and should notbeconstrued to

constitute, anoffer tosellorthesolicitation ofanoffer tobuy, securities ofPembina Pipeline Corporation

("Pembina") .This presentation anditscontents should notbeconstrued, under anycircumstances, asinvestment,

taxorlegal advice .Anyperson accepting delivery ofthispresentation acknowledges theneed toconduct their own

thorough investigation intoPembina anditsactivities before considering anyinvestment initssecurities .

This presentation contains certain forward -looking statements and information that arebased onPembina's

expectations, estimates, projections and assumptions inlight ofitsexperience and itsperception ofhistorical

trends aswellascurrent market conditions andperceived business opportunities .Insome cases, forward -looking

information canbeidentified byterminology such as"expects", "will", "would", "anticipates", "plans", "estimates",

"develop", "intends", "potential", "continue", "could", "create", "keep", and similar expressions suggesting future

events orfuture performance .

Inparticular, thispresentation contains forward -looking statements, including certain financial outlooks, pertaining

to,without limitation :corporate strategy (capital expenditures, schedules, expected capacity, approval and

contracting strategy andexpectations with respect tocurrent andpotential projects), adjusted EBITDA, operating

margin, andadjusted cash flow expectations, thestability andsustainability ofcash dividends andfuture dividend

increases, currency exposure, future capital program, counterparty exposure, feeforservice cash flows,, andthe