CALGARY, May 29, 2018 /CNW/ - Pembina Pipeline Corporation
("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced an update to its 2018 guidance range and will host its annual
Investor Day.
Pembina announced today that based on strong year-to-date results and the outlook for the remainder of the year, the Company
has updated its 2018 Adjusted EBITDA guidance range to $2,650 to $2,750
million.
"We are seeing strong customer demand for our services, leading to increased utilization in the Pipelines and Facilities
Divisions, and rising commodity prices are driving solid performance in our Marketing business," said Mick
Dilger, Pembina's President and Chief Executive Officer. "Accordingly, we are raising the bottom end of our guidance
range by $100 million."
Pembina's annual Investor Day will be held today at the Fairmont Royal York Hotel in Toronto,
Ontario, with a corporate presentation scheduled for 8:30 a.m. ET. The presentation
will feature Pembina's executive team providing an update on corporate strategy, a business overview including project updates,
and a review of Pembina's financial position.
A live webcast of the conference call can be accessed on Pembina's website at pembina.com under Investor Centre, Presentation
& Events, or by entering: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=http%3A%2F%2Fwww.pembina.com%2Finvestor-centre%2Fpresentations-and-events%2F&eventid=1586882&sessionid=1&key=175EA88F028C9CD48628882A2542CE5D®Tag=&sourcepage=register
in your web browser. After the presentation a copy of the presentation and an archive of the webcast will be available on
the website.
About Pembina
Calgary-based Pembina Pipeline Corporation is a leading transportation and midstream service
provider that has been serving North America's energy industry for over 60 years. Pembina owns
an integrated system of pipelines that transport various hydrocarbon liquids and natural gas products produced primarily in
western Canada. The Company also owns gas gathering and processing facilities and an oil and
natural gas liquids infrastructure and logistics business. Pembina's integrated assets and commercial operations along the
majority of the hydrocarbon value chain allow it to offer a full spectrum of midstream and marketing services to the energy
sector. Pembina is committed to identifying additional opportunities to connect hydrocarbon production to new demand locations
through the development of infrastructure that would extend Pembina's service offering even further along the hydrocarbon value
chain. These new developments will contribute to ensuring that hydrocarbons produced in the Western Canada Sedimentary Basin and
the other basins where Pembina operates can reach the highest value markets throughout the world.
Pembina strives to provide sustainable, industry-leading total returns for our investors; reliable and value-added services
for our customers; a net positive impact to communities; and a safe, respectful, collaborative and fair work culture for our
employees.
Pembina's strategy is to:
- Preserve value by providing safe, environmentally conscious, cost-effective and reliable services;
- Diversify by providing integrated solutions which enhance profitability and customer service;
- Implement Growth by pursuing projects or assets that are expected to generate cash flow per share accretion and
capture long-life, economic hydrocarbon reserves; and
- Secure Global Markets by understanding what the world needs, where they need it, and delivering it.
Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures
Division.
Pembina's common shares trade on the Toronto and New York
stock exchanges under PPL and PBA, respectively. For more information, visit www.pembina.com.
Forward-Looking Information and Statements
This news release contains certain forward-looking information and statements (collectively, "forward-looking statements")
that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its
perception of historical trends. In this news release, such forward-looking information and statements can be identified by
terminology such as "guidance", "outlook", "expects", "will", and similar expressions suggesting future events or future
performance.
In particular, this news release contains forward-looking statements, including certain financial outlooks, pertaining to,
without limitation, the following: anticipated future adjusted EBITDA; expectations around continuing producer activity
and development; the ongoing utilization and expansions of and additions to Pembina's business and asset base, growth and growth
potential . These forward-looking statements are being made by Pembina based on certain assumptions that Pembina has made
in respect thereof as at the date of this news release, regarding, among other things: oil and gas industry exploration and
development activity levels; the success of Pembina's operations and growth projects; prevailing commodity prices, margins,
volumes and exchange rates; that Pembina's future results of operations will be consistent with past performance and management
expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements
relating to existing assets and projects, including but not limited to future capital expenditures relating to expansion,
upgrades and maintenance shutdowns; that any third party projects relating to Pembina's growth projects will be sanctioned and
completed as expected; that any required commercial agreements can be reached; that all required regulatory and environmental
approvals can be obtained on the necessary terms in a timely manner; that counterparties to material agreements will continue to
perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; that there are no
unforeseen material construction, integrity or other costs related to current growth projects or current operations; and
prevailing interest and tax rates.
Although Pembina believes the expectations and material factors and assumptions reflected in these forward-looking
statements are reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions will
prove to be correct. Readers are cautioned that events or circumstances could cause results to differ materially from those
predicted, forecasted or projected. By their nature, forward-looking statements involve numerous assumptions, known and unknown
risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking
statements will not occur, which may cause actual performance and financial results in future periods to differ materially from
any projections of future performance or results expressed or implied by such forward-looking statements and information. These
known and unknown risks and uncertainties, include, but are not limited to: the ability of Pembina to raise sufficient capital
(or to raise sufficient capital on favourable terms) to fund future expansions and growth projects and satisfy future
commitments; failure to negotiate and conclude any required commercial agreements or failure to obtain project sanctioning;
increased construction costs, or construction delays, on Pembina's expansion and growth projects; labour and material
shortages; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing;
reliance on key industry partners, alliances and agreements; the strength and operations of the oil and natural gas production
industry and related commodity prices; the continuation or completion of third-party projects; actions by governmental or
regulatory authorities including changes in tax laws and treatment, changes in royalty rates or increased environmental
regulation; adverse general economic and market conditions in Canada, North America and elsewhere; construction delays; labour and material shortages; and certain other risks
detailed from time to time in Pembina's public disclosure documents including, among other things, those detailed under the
heading "Risk Factors" in Pembina's management's discussion and analysis and annual information form for the year ended
December 31, 2017, which can be found at www.sedar.com.
The forward-looking statements are expressly qualified by the above statements, and speak only as of the date of this
document. Pembina does not undertake any obligation to publicly update or revise any forward-looking statements or information
contained herein, except as required by applicable laws. The forward-looking statements contained in this document are expressly
qualified by this cautionary statement. Readers are cautioned that management of Pembina approved the financial outlook contained
herein as of the date of this press release. The purpose of the financial outlook contained herein is to give the reader an
indication of the value to Pembina of planned capital projects and ongoing operations. Readers should be aware that the
information contained in the financial outlook contained herein may not be appropriate for other purposes.
Non-GAAP Measures
The intent of Non-GAAP measures is to provide additional useful information respecting Pembina's financial and operational
performance to investors and analysts and the measures do not have any standardized meaning under IFRS. The measures should
not be considered in isolation or used in substitute for measures of performance prepared in accordance with IFRS. Since Non-GAAP
financial measures are unlikely to be comparable to similar measures presented by other companies, securities regulations require
that Non-GAAP financial measures are clearly defined, qualified and reconciled to their nearest GAAP measure.
In this news release, Pembina has used the term adjusted earnings before interest, taxes, depreciation and amortization
(Adjusted EBITDA), which does not have any standardized meaning under IFRS ("Non-GAAP Measures"). Readers are encouraged to refer
to Pembina's management's discussion and analysis for the period ended March 31, 2018, which is
available online at www.sedar.com, www.sec.gov and through Pembina's website at www.pembina.com for Pembina's Non-GAAP definitions, quantifications and
reconciliations.
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SOURCE Pembina Pipeline Corporation
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