Shareholder Information

The objective of Pembina's Shareholder Rights Plan is to ensure that in the event of a bid for control through an acquisition of the company's common shares, the Board of Directors of the company has sufficient time to:

• Explore and develop alternatives for maximizing shareholder value.
• Provide adequate time for competing bids to emerge.
• Ensure shareholders have an equal opportunity to participate in such a bid.
• Give shareholders adequate time to properly assess the bid and lessen the pressure to tender that is typically encountered by a shareholder of a corporation that is subject to a bid.