Pembina Pipeline Investor Presentation — May 2020

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TSX: PPL | NYSE: PBA

May 2020Forward -looking statements and information

This presentation contains certain forward -looking statements and

information (collectively, “forward -lookingstatements”) that are

based on Pembina's expectations, estimates, projections and

assumptions inlight ofitsexperience and itsperception of

historical trends aswell ascurrent market conditions and

perceived business opportunities .Insome cases, forward -looking

statements 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

In particular, this presentation contains forward -looking

statements, including certain financial outlooks, pertaining to,

without limitation :Pembina’s corporate strategy, including the

reduction toits2020 capital program, the development and

expected timing ofgrowth opportunities and theimpact thereof,

thedeferral ofcertain expansion projects, including thetiming for

resuming such projects, and thepursuit ofcertain non-core asset

sales ;capital spending plans, including the focus onreducing

leverage ;expected financial performance for 2020 ;adjusted

EBITDA expectations ;capital expenditures ;capital cost

expectations ;in-service dates forgrowth projects ;expectations

regarding future commodity prices ; expectations regarding

Pembina's share price ;expected commodity and currency

exposure for 2020 ;counterparty exposure ;Pembina's funding