Financial Data and Key Metrics Changes - Pembina reported record adjusted EBITDA in Q4 2020 of CAD866 million, a 10% increase compared to the same period last year, driven by assets acquired in the Kinder acquisition and new assets placed into service [22][25] - The company recorded a net earnings loss of CAD1.2 billion in Q4 2020 due to non-cash after-tax impairment charges of CAD1.6 billion [23] - Total revenue volumes were 3.6 million BOE per day in Q4 2020, up 1% year-over-year [24] - For the full year 2020, adjusted EBITDA was CAD3.28 billion, a 7% increase from 2019, and adjusted cash flow from operations was CAD2.29 billion, 2% higher than 2019 [25][26] Business Line Data and Key Metrics Changes - The increase in adjusted EBITDA was attributed to new assets in the pipelines and facilities division and higher deferred revenue recognized on the Peace Pipeline system [22] - Fee-based cash flow comprised approximately 95% of adjusted EBITDA for the year, indicating a stable revenue model [25] Market Data and Key Metrics Changes - The company noted a positive outlook for 2021 with improved commodity prices, including WTI above CAD60 and strong propane prices, which are expected to benefit producer customers [45][48] - Rig activity in key areas is equal to or slightly above pre-pandemic levels, indicating a recovery in the industry [51] Company Strategy and Development Direction - Pembina is focused on disciplined capital allocation, prioritizing dividend payments and growth projects that fit within its platform [28][57] - The company is exploring brownfield and greenfield opportunities, with a significant portfolio of potential capital investments exceeding CAD4 billion [18] - Pembina is also reimagining its Prince Rupert expansion project to accommodate larger vessels, which would improve economies of scale [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2021, citing a return to normalcy and rising energy demand as key factors for growth [20] - The company remains committed to its ESG strategies and has made progress in reducing greenhouse gas emissions intensity [35][36] Other Important Information - Pembina announced a normal course issuer bid to purchase up to 5% of its outstanding common shares, indicating a proactive approach to capital management [29] - The company has maintained a strong BBB credit rating and a ratio of approximately four times senior debt to adjusted EBITDA [26] Q&A Session Summary Question: Guidance and Commodity Price Environment - Management noted that commodity prices have improved significantly since the budget was set, with expectations for cautious drilling later in the year [45][46] Question: Marketing and Winter Storm Impact - Management acknowledged participation in commodity volatility but remained cautious about windfall gains [50] Question: Rig Activity Trends - Rig activity is reported to be equal to or slightly above December 2019 levels in key areas [51] Question: Capital Allocation and Growth Projects - The first priority remains the dividend and capital for growth projects, with flexibility for debt repayment or share buybacks depending on financial metrics [57][60] Question: M&A Activity and Strategic Focus - Management indicated a focus on brownfield opportunities and improving return on invested capital rather than pursuing new acquisitions at this time [75][93] Question: Ethane and Cracker Development - Management expressed optimism about the potential for new cracker projects, emphasizing the importance of government support and competitive ethane supply [111][114]

Pembina Pipeline Corp (NYSE:PBA) Q3 2020 Earnings Conference Call November 6, 2020 10:00 AM ET Company Participants Scott Burrows - SVP & CFO Michael Dilger - President, CEO & Director Jason Wiun - SVP & COO, Pipelines Jaret Sprott - SVP & COO, Facilities Stuart Taylor - SVP, Marketing & New Ventures and Corporate Development Officer Conference Call Participants Jeremy Tonet - JPMorgan Chase & Co. Linda Ezergailis - TD Securities Matthew Taylor - Tudor, Pickering, Holt & Co. Benjamin Pham - BMO Capital Mark ...

| --- | --- | --- | --- | --- | |-------|-------|-------|-----------------------------------|-------| | | | | | | | | | | Pembina Pipeline | | | | | | | | | | | | Corporation TSX: PPL \| NYSE: PBA | | | | | | | | | | | | | | | | | | | | | | | | Investor | | | | | | Presentation | | | | | | | | | | | | August 2020 | | | | | | | | | | | | | | Building Something Extraordinary Forward-looking statements and information This presentation contains certain forward-looking statements and information (collectively, ...

Pembina Pipeline Corp (NYSE:PBA) Q2 2020 Earnings Conference Call August 7, 2020 10:00 AM ET Company Participants Scott Burrows - SVP & CFO Michael Dilger - President, CEO & Director Jason Wiun - SVP & COO of Pipelines Jaret Sprott - SVP & COO of Facilities Stuart Taylor - SVP, Marketing & New Ventures and Corporate Development Officer Conference Call Participants Jeremy Tonet - JPMorgan Chase & Co. Matthew Taylor - Tudor, Pickering, Holt & Co. Securities Linda Ezergailis - TD Securities Robert Hope - Scoti ...

Financial Performance and Strategy - Pembina is committed to maintaining its BBB credit rating[12] - The company has ample liquidity, with $2.5 billion of available cash and borrowing capacity[12] - Pembina has hedged approximately 50 percent of its 2020 and 35 percent of its 2021 frac spread exposure (excluding Aux Sable)[12] - Pembina is continuing to progress work started earlier this year to pursue non-core asset sales in the range of $200 to $500 million[10] COVID-19 Response and Capital Program Adjustments - Deferred some previously announced expansion projects thus reducing 2020 capital spending by $900 million to $1.1 billion, or approximately 40 to 50 percent[10] - Cost savings and efficiencies throughout the business have been implemented - $100 million annually[10] Business Diversification and Contractual Stability - Approximately 80 percent of the Company's credit exposure is with investment grade, split-rated and secured counterparties[12] - The company aims to maintain a target of 80% fee-based contribution to Adjusted EBITDA[22] - The company's business remains supported by significant long-term fee-based contracts, including cost-of-service or take-or-pay contracts with no volume or price risk[12] Revised Capital Program - Will place an additional $1.1 billion of new projects into service in 2020-2021 and defer ~$4.5 billion of investment into future years[49]

Pembina Pipeline Corporation (NYSE:PBA) Q1 2020 Results Conference Call May 8, 2020 10:00 AM ET Company Participants Scott Burrows - SVP and CFO Mick Dilger - President and CEO Jason Wiun - SVP and COO, Pipelines Jaret Sprott - SVP and COO, Facilities Stu Taylor - SVP, Marketing & New Ventures and Corporate Development Officer Conference Call Participants Jeremy Tonet - JP Morgan Matt Taylor - Tudor, Pickering, Holt Linda Ezergailis - TD Securities Patrick Kenny - National Bank Financial Robert Kwan - RBC C ...

Pembina Pipeline Corporation (NYSE:PBA) Q4 2019 Earnings Conference Call February 28, 2020 10:00 AM ET Company Participants Scott Burrows – Senior Vice President and Chief Financial Officer Mick Dilger – President and Chief Executive Officer Jaret Sprott – Senior Vice President and Chief Operating Officer-Facilities Jason Wiun – Senior Vice President and Chief Operating Officer- Pipelines Stu Taylor – Senior Vice President, Marketing and New Ventures and Corporate Development Officer Conference Call Partici ...

Pembina Pipeline Corporation TSX: PPL | NYSE: PBA Corporate Update January 2020 Building Something Extraordinary Forward-looking statements and information This presentation contains certain forward-looking statements and information that are based on Pembina's expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends as well as current market conditions and perceived business opportunities. In some cases, forward-looking information can be ident ...

Pembina Pipeline Corporation Q3 2019 INTERIM REPORT Building Something Extraordinary REPORT TO SHAREHOLDERS Third Quarter 2019 Table of Contents MANAGEMENT'S DISCUSSION AND ANALYSIS | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | 1. About Pembina ........................................................................................ ...

Pembina Pipeline Corporation (NYSE:PBA) Q3 2019 Earnings Conference Call November 1, 2019 10:00 AM ET Â Company Representatives Mick Dilger - President, Chief Executive Officer Scott Burrows - Senior Vice President, Chief Financial Officer Jason Wiun - Senior Vice President, Chief Operating Officer, Pipelines Jaret Sprott - Senior Vice President, Chief Operating Officer, Facilities Stu Taylor - Senior Vice President, Marketing & New Ventures, Corporate Development Officer Conference Call Participants Matt T ...