Pembina Pipeline

PBA

Market cap $29.2B

CALGARY, Alberta--(BUSINESS WIRE)--Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA), Morgan Stanley Infrastructure Partners ("MSIP"), and Kineticor Asset Management ("Kineticor"), partners in the Greenlight Electricity Centre Limited Partnership ("Greenlight") (the "Partners"), congratulate Meta and the Province of Alberta on today's announcement of a major new data centre project in Alberta. Members of Pembina's leadership team joined Meta, Alberta Premier Daniel.

PBA approves the Greenlight Electricity Center, a C$4.6B project set to supply dedicated power to a hyperscale data center under a long-term agreement.

CALGARY, Alberta--(BUSINESS WIRE)--Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA), today announced that it has entered into a non-binding Heads of Agreement (the "HOA") with the Government of Canada, the Province of Alberta, Trans Mountain Corporation, and Alberta Petroleum and Marketing Commission, to participate in a proposed nation-building energy infrastructure initiative intended to strengthen Canada's energy transportation network and expand market access.

Pembina Pipeline said on Thursday it will go ahead with its planned ​C$4.6 billion ($3.24 billion) Greenlight Electricity Centre in Alberta, a project that ‌will power the development of a major data center for an as-yet-unnamed customer.

CALGARY, Alberta--(BUSINESS WIRE)--Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA), Morgan Stanley Infrastructure Partners ("MSIP"), and Kineticor Asset Management ("Kineticor"), partners in the Greenlight Electricity Centre Limited Partnership ("Greenlight") (collectively, the "Partners"), today announced a positive final investment decision on the Greenlight Electricity Centre ("GLEC" or the "Project"). GLEC is a 932 megawatt ("MW") gas-fired combined cycle pow.

PBA's fee-based model, higher 2026 EBITDA outlook and growth projects support upside, but EBITDA pressure and leverage warrant caution.

Pembina Pipeline remains a buy, targeting a $53.55 price and 16% upside, supported by stable cash flows and strategic project development. PBA maintains 5%-7% annual EBITDA per share growth guidance through 2030, driven by asset utilization and sanctioned projects amid an evolving fee-based revenue mix. Q1 results showed a 3.9% revenue decline to C$1.29B, but facilities EBITDA grew; pipeline revenues were impacted by Alliance Pipeline's new toll structure.

Pembina has the best balance sheet of the group. Debt to EBITDA sits at 3.90, well below its peers. TC Energy's management guidance for 6% EBITDA growth through 2028 and 3%-5% dividend growth going forward. On dividends, ENB just raised its payout by 3% in early 2026. That is the 31st consecutive annual increase.

PBA teams up with Hanwha Power to evaluate waste heat recovery systems using supercritical CO2 technology at North American gas facilities.

CALGARY, Alberta--(BUSINESS WIRE)--Pembina Pipeline Corporation ("Pembina" or "the Company") (TSX: PPL; NYSE: PBA) announced today that it is proceeding with the Heartland Extraction Plant ("HEP") and provided an update on its ethane supply agreement with Dow. The sanctioning of HEP represents a capital efficient, low-risk monetization of Pembina's liquids extraction rights on the Yellowhead Pipeline, with future growth potential. Through new and amended agreements, Pembina and Dow reached a mu.