Investor Presentaiton

Financial Strength ADJUSTED EBITDA1 ($MILLIONS) $1,263 $1,123 $984 $927 2022 Guidance $1,065 - $1,185 FCF1 ($MILLIONS) $367 $379 $358 $562 2022 Guidance $455-$555 $266 $115 2018 2019 2020 2021 2022 YTD 2018 2019 2020 2021 2022 YTD ~$2 Billion CASH AND AVAILABLE CREDIT FACILITY 4 1 EBITDA and Adjusted EBITDA, Free Cash Flow, and Free Cash Flow per share are non-IFRS measures. Reconciliations to the nearest IFRS measures are included in the Q1 earnings release and other documents available at www.transalta.com. FCF PER SHARE1 $1.28 $1.34 $1.30 $2.07 $0.42 2018 2019 2020 2021 2022 YTD TransAlta

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