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Aif Ppc Q4 2020

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Aif Ppc Q4 2020 PEMBINA PIPELINE CORPORATION ANNUAL INFORMATION FORM For the Year Ended December 31, 2020 February 25, 2021 TABLE OF CONTENTS Page GLOSSARY OF TERMS.......................................................................................................................................................................... -1- ABBREVIATIONS AND CONVERSIONS.................................................................................................................................................. -15- NON-GAAP MEASURES........................................................................................................................................................................ -16- FORWARD-LOOKING STATEMENTS AND INFORMATION...................................................................................................................... -17- CORPORATE STRUCTURE..................................................................................................................................................................... -20- GENERAL DEVELOPMENTS OF PEMBINA.............................................................................................................................................. -21- DESCRIPTION OF PEMBINA'S BUSINESS AND OPERATIONS.................................................................................................................. -27- Purpose of Pembina...................................................................................................................................................................... -27- Overview of Pembina's Business................................................................................................................................................... -27- Pipelines Division........................................................................................................................................................................... -29- Facilities Division........................................................................................................................................................................... -37- Marketing & New Ventures Division............................................................................................................................................. -41- Seasonality..................................................................................................................................................................................... -43- OTHER INFORMATION RELATING TO PEMBINA'S BUSINESS................................................................................................................. -44- Operating Management System.................................................................................................................................................... -44- Integrity Management................................................................................................................................................................... -44- Emergency Management Program................................................................................................................................................ -45- Security Management Program .................................................................................................................................................... -45- Pipeline Control Management Program and Information and Communication Systems ............................................................ -46- Safety Program.............................................................................................................................................................................. -46- Environmental Matters and Environmental Stewardship............................................................................................................. -46 - Damage Prevention and Public Awareness Programs................................................................................................................... -47- Operations and Maintenance - Operator Qualification and Preventative Maintenance Management Programs ...................... -47- Regulatory Financial Program and Industry Regulation................................................................................................................ -47- Corporate Governance.................................................................................................................................................................. -50- Social, Community and Indigenous Engagement.......................................................................................................................... -53- Indemnification and Insurance...................................................................................................................................................... -55- Employees..................................................................................................................................................................................... -55- CANADIAN OIL AND GAS INDUSTRY.................................................................................................................................................... -56- DESCRIPTION OF THE CAPITAL STRUCTURE OF PEMBINA..................................................................................................................... -58- DIVIDENDS AND DISTRIBUTIONS......................................................................................................................................................... -66- MARKET FOR SECURITIES.................................................................................................................................................................... -68- DIRECTORS AND OFFICERS.................................................................................................................................................................. -70- AUDIT COMMITTEE INFORMATION..................................................................................................................................................... -73- RISK FACTORS..................................................................................................................................................................................... -75- INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS........................................................................................... -93- MATERIAL CONTRACTS........................................................................................................................................................................ -93- LEGAL PROCEEDINGS AND REGULATORY ACTIONS.............................................................................................................................. -93- REGISTRAR AND TRANSFER AGENT..................................................................................................................................................... -93- INTERESTS OF EXPERTS........................................................................................................................................................................ -93- ADDITIONAL INFORMATION................................................................................................................................................................ -93- APPENDIX "A" - AUDIT COMMITTEE CHARTER..................................................................................................................................... -A-1- -i- GLOSSARY OF TERMS Terms used in this Annual Information Form and not otherwise defined have the meanings set forth below: "2017 MTN Prospectus" means the final short form base shelf prospectus filed with the securities commissions or similar regulatory authorities in each of the provinces of Canada on July 27, 2017 allowing Pembina to offer and issue, from time to time, Pembina Medium Term Notes of up to $3,000,000,000 aggregate principal amount or, if offered at an original issue discount, aggregate offering price, of Medium Term Notes (or the equivalent thereof in one or more foreign currencies or composite currencies, including U.S. dollars) during the 25 month period that the 2017 MTN Prospectus is valid, which Medium Term Notes may be offered at rates of interest, prices and on terms to be determined based on market conditions at the time of the sale and set forth in one or more shelf prospectus supplement or pricing supplements; "2019 Base Shelf Prospectus" means the final short form base shelf prospectus filed with the securities commissions or similar regulatory authorities in each of the provinces of Canada on August 30, 2019 allowing Pembina to offer and issue, from time to time: (i) Common Shares; (ii) Class A Preferred Shares; (iii) warrants to purchase Common Shares; (iv) subscription receipts of Pembina; and (v) units comprising any combination of the foregoing (together with the foregoing, collectively, the "2019 Securities") of up to $3,000,000,000 aggregate initial offering price of 2019 Securities (or the equivalent thereof in one or more foreign currencies or composite currencies, including U.S. dollars) during the 25 month period that the 2019 Base Shelf Prospectus is valid, which 2019 Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of the sale
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