TransAlta Development and Strategic Accomplishments

3 TransAlta at a Glance $9.2 billion ENTERPRISE VALUE Strong balance sheet and capital discipline 110 Years GENERATION EXPERIENCE The foundation of our focused strategy ~8,000 MW DIVERSIFIED PORTFOLIO 74 generating facilities in Canada, the United States and Australia $500 $560 million - 2021 EXPECTED FREE CASH FLOW Continued strong performance $3.5 billion ➤ 1,300 MARKET CAPITALIZATION Listed on the TSX and NYSE EMPLOYEES Central to value creation 25 million tonnes ANNUAL EMISSIONS REDUCTIONS SINCE 2005 8% of Canada's emissions reduction target TransAlta

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