CALGARY - Inter Pipeline Ltd. ('Inter Pipeline' or the 'Company') (TSX: IPL) today reconfirms that the Board of Directors (the 'Board') unanimously recommends that Shareholders support the strategic share-exchange transaction with Pembina Pipeline Corporation and reject the revised hostile takeover offer proposed by an affiliate of Brookfield Infrastructure Partners L.P. ('Brookfield').

The Board's determination followed careful consideration, including advice from its financial and legal advisors, and the recommendation of a special committee of independent directors (the 'Special Committee'). To reject the Revised Brookfield Offer, simply take NO ACTION. If you have tendered your Shares in error and wish to withdraw, simply ask your broker or contact Kingsdale Advisors to assist you with this process.

'The proposed combination with Pembina provides Inter Pipeline shareholders the ability to participate in a large, highly integrated energy infrastructure business with significant potential growth opportunities across the value chain, including additional future cash flow from the Heartland Petrochemical Complex,' said Margaret McKenzie, Chair of the Board and the Special Committee. 'The strategic combination with Pembina supports an immediate increase in dividend yield and the ability to participate in meaningful anticipated commercial and operational synergies. In addition, following our thorough analysis, we expect the intrinsic value of this business combination to be in excess of $19.45 per share for Inter Pipeline shareholders, and superior to the Revised Brookfield Offer.'

A Notice of Change to Directors' Circular (the 'Notice of Change') providing the full details concerning the Board's recommendation, including the reasons to APPROVE the strategic combination with Pembina and REJECT the Revised Brookfield Offer and the background to both offers is available on the Company's website at www.interpipeline.com and at www.sedar.com. The Notice of Change is also being mailed to all persons required to receive a copy under applicable securities laws.

About Inter Pipeline Ltd.

Inter Pipeline is a major petroleum transportation and natural gas liquids processing business based in Calgary, Alberta, Canada. Inter Pipeline owns and operates energy infrastructure assets in Western Canada and is building the Heartland Petrochemical Complex - North America's first integrated propane dehydrogenation and polypropylene facility. Inter Pipeline is a member of the S&P/TSX 60 Index and its common shares trade on the Toronto Stock Exchange under the symbol IPL.

Contact:

Jeremy Roberge

Tel: 403-290-6015

Email: investorrelations@interpipeline.com

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