Pembina Pipeline Corporation has closed its previously announced bought deal offering of 11,206,750 common shares at a price of $30.80 per share through a syndicate of underwriters (the "Offering"), which includes 1,461,750 common shares issued at the same price on the exercise in full of the over-allotment option granted to the underwriters. The aggregate gross proceeds from the Offering is approximately $345 million.

Pembina intends to use the net proceeds from the Offering to reduce short term indebtedness of the Company, which short term indebtedness was used to fund the Company's capital program, and for other general corporate purposes. Pembina's current suite of growth projects includes the construction of the Saturn I, Saturn II and Resthaven enhanced liquids extraction facilities and associated pipelines, the expansion of its crude oil, condensate and NGL pipelines and the twinning of its ethane-plus fractionator at its Redwater site, near Fort Saskatchewan, Alberta.

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