Pembina Pipeline sees FY26 adjusted EBITDA C$4.125B-C$4.425B, up 4% y/y

The company announces 2026 Guidance in C$: “Sees adjusted EBITDA of $4.125 billion to $4.425 billion reflects an approximately four percent increase in fee-based adjusted EBITDA over the forecast for 2025. At the midpoint of the 2026 guidance range, growth in the fee-based business is expected to be offset by a moderated contribution from the marketing business based on current strip pricing for 2026. Pembina’s capital investment program is expected to total approximately $1.6 billion. Three Year Guidance Reaffirmed – the midpoint of the 2026 guidance range represents 2023 to 2026 fee-based adjusted EBITDA per share compound annual growth of approximately five percent, positioning Pembina to deliver on the target provided at its 2024 Investor Day. Further, Pembina’s 2024 to 2026 capital investment program remains internally self-funded. Pembina intends to extend its long-term growth guidance for the post-2026 timeframe in the first quarter of 2026 following advancement of certain key growth initiatives. Cedar LNG – Pembina has signed a 12-year agreement with Ovintiv Inc. for 0.5 million tonnes per annum (“mtpa”) to complete the remarketing of Pembina’s 1.5 mtpa of capacity at the Cedar LNG facility, further demonstrating its commitment to delivering growth and executing its strategy within the Company’s long-standing financial guardrails and prudent risk profile. Conventional Pipeline Expansions and Commercial Success – Pembina has approved a $200 million expansion of the Peace Pipeline System to increase propane-plus market delivery capacity into the Namao, Alberta hub. Progress on the northeast British Columbia expansion program, including the Birch-to-Taylor and Taylor-to-Gordondale expansions continues, and Pembina intends to commence construction in a phased manner to meet customer needs for liquids egress. Throughout 2025, in support of utilization of existing assets and future expansion opportunities, Pembina has renewed existing contracts, and executed incremental new contracts, totaling over 200,000 barrels per day (“bpd”) of conventional pipeline transportation capacity. Greenlight Electricity Centre – Pembina and Kineticor continue to observe positive momentum towards the development of the Greenlight Electricity Centre. The previously announced land sale has closed, and the partners continue to progress workstreams that include finalizing commercial agreements with the customer, engineering, procurement and regulatory. A final investment decision is expected in the first half of 2026.”