PEMBINA PIPELINE CORP

Pembina Pipeline Corp. has updated its Code of Ethics Policy, last reviewed and approved in July 2026. The policy establishes high standards of integrity and ethical behavior for all personnel, including directors, officers, employees, consultants, and contractors. It outlines responsibilities regarding conflicts of interest, gifts and hospitality, interactions with government officials, financial information integrity, insider trading, and human rights. The company emphasizes compliance with laws and regulations, promoting a culture of honesty and transparency, and provides mechanisms for reporting violations without fear of retaliation.

Pembina Pipeline Corporation announced its participation in a non-binding agreement for a new 1 million bpd crude oil pipeline system to Canada's West Coast, a significant strategic initiative. Concurrently, the company reported strong second-quarter 2026 financial results, with earnings increasing by $95 million to $512 million and Adjusted EBITDA rising by $51 million to $1,064 million. Basic earnings per common share grew to $0.83, up $0.18 year-over-year, driven by wider NGL frac spreads and strong operational performance across its Pipelines, Facilities, and Marketing & New Ventures divisions.

Pembina Pipeline Corporation announced strong financial and operating results for the second quarter of 2026, with adjusted EBITDA increasing by 5% and earnings by 23% year-over-year. The company also sanctioned two significant growth projects, the Greenlight Electricity Centre ($4.6 billion gross) and the Heartland Extraction Plant ($570 million net), and announced participation in a West Coast oil pipeline project. These developments demonstrate tangible execution of its 3Cs Strategy and provide visibility to targeted growth through 2030. Pembina reiterated its 2026 adjusted EBITDA guidance of $4.35 billion to $4.55 billion and declared a Q3 2026 dividend of $0.735 per share.

Pembina Pipeline Corporation announced the declaration of quarterly dividends for eight series of its preferred shares, with varying payment and record dates in August, September, and October 2026. The company also scheduled the release of its second quarter 2026 results for July 30, 2026, after market close. A conference call and webcast for investors, analysts, and media will follow on July 31, 2026, at 10:00 a.m. ET.

Pembina Pipeline Corporation, along with its Greenlight Electricity Centre partners, congratulated Meta and the Province of Alberta on the announcement of a major new data centre project in Alberta. The Greenlight Electricity Centre, a dedicated gas-to-power project, will provide the reliable electricity needed to power Meta's data centre. Pembina sees this as a new growth platform that will catalyze natural gas demand, benefiting the company, its customers, and Alberta.

Pembina Pipeline Corporation announced it has entered into a non-binding Heads of Agreement (HOA) to participate in a proposed nation-building energy infrastructure initiative. This project involves developing a new approximately one million barrel per day crude oil pipeline system connecting Alberta to Canada's West Coast, along with a related export terminal. Pembina will contribute its development and execution expertise, holding an initial 10% economic interest with the potential for up to an additional 10% upon commercial operation. The initiative, involving multiple stakeholders including the Government of Canada and Indigenous partners, is subject to Pembina's due diligence and final investment decision, with definitive agreements targeted for September 2026.

Pembina Pipeline Corporation, along with partners Morgan Stanley Infrastructure Partners and Kineticor Asset Management, announced a positive final investment decision for the Greenlight Electricity Centre (GLEC). This 932 MW gas-fired power generation facility, located in Alberta, will serve a major data center development, with an anticipated in-service date in the second half of 2030. Pembina's net investment in the project is approximately $2.1 billion, and it is expected to generate annual run-rate adjusted EBITDA of about $310 million net to Pembina.

Pembina Pipeline Corporation announced the sanctioning of its Heartland Extraction Plant (HEP), an upsized project with an estimated cost of $570 million and an in-service date in late 2029. This plant will extract NGLs from the Yellowhead Pipeline, including 22,500 bpd of ethane for Dow by the end of 2030. Concurrently, Pembina and Dow amended their existing ethane supply agreement, increasing the total commitment to 57,500 bpd, a 15% increase from the original agreement. The project is expected to generate an EBITDA build multiple of 5-7 times, contributing to Pembina's fee-based adjusted EBITDA per share growth target.

Pembina Pipeline Corporation announced the Toronto Stock Exchange has approved the renewal of its normal course issuer bid (NCIB) to repurchase up to five percent of its issued and outstanding common shares. This program allows Pembina to buy back up to 29,071,759 common shares, commencing May 19, 2026, and expiring by May 18, 2027. The company believes repurchasing shares for cancellation is an attractive use of financial resources when the market price does not reflect underlying value.

Pembina Pipeline Corporation reported the voting results from its annual meeting of shareholders held virtually on May 8, 2026. Shareholders elected 10 nominees to the board of directors. KPMG LLP was re-appointed as the company's auditors, and the company's approach to executive compensation was approved on an advisory basis.