Investor Presentaiton

Strategic Accomplishments Led to Dramatic Evolution 10 SENIOR CORPORATE DEBT ($ billion) $1.6 -27% FREE CASH FLOW1 ($ million) +48% $1.1 $379 2019 2021 SHARE PRICE ($ / share) $562 +53%2 2019 2021 8% annual dividend increase since 2019 1 Free Cash Flow is a non-IFRS measures. Reconciliations to the nearest IFRS measures are included in the Q1 earnings release and other documents available at www.transalta.com. 2 As of closing on May 10, 2022 $9.28 $14.19 2019 Today TransAlta

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