Investor Presentaiton

Growth Plan is Fully Funded CONSOLIDATED SOURCES AND USES 2021-2025 RNW Equity & Other Adjusted FFO 1 Return to Shareholders³ RNW Dividend Amortizing Debt Growth Capital Project Financing Net Cash 2 2022 Bond Refinance Sources 2022 Bond Maturity Uses 2 GW growth plan fully funded with cash flow and asset-level financing 1Adjusted FFO is equal to FFO, less sustaining capital, lease obligations and distributions to NCI (excluding RNW public NCI). 36 2Net Cash is equal to cash less credit facility as of December 31, 2020 3 Includes common share dividend, dividend on preferred shares and share buybacks TransAlta

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