Transalta Corporation · TSX:TA
Transalta — Merger or Acquisition (November 2023)
10 slides from Transalta's merger presentation, Nov 2, 2023
Slide 1: Heartland Generation Acquisition
Heartland Generation Acquisition November 2, 2023
Slide 2: Disclaimer and Forward-Looking Statements
Disclaimer and Forward-Looking Statements This presentation does not constitute an offer to buy or sell or the solicitation of an offer to sell or buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with registration and other require
Slide 3: Today’s Participants
Today’s Participants JOHN KOUSINIORIS TODD STACK KERRY O’REILLY WILKS President and CEO EVP, Finance and CFO EVP, Legal, Commercial and External Affairs 3
Slide 4: Compelling Rationale for Acquisition
Compelling Rationale for Acquisition Ownership in additional Enhances competitive history in Alberta Clean Electricity Growth Plan of assets positioning in response to remains Expands Assets acquired at cost Assets managed by Emissions reduction targets team remain than new build Diversifies fleet t
Slide 5: Attractive Deal Metrics
Attractive Deal Metrics TEV1/EBITDA2 Contracted Cash Multiple at Closing Flows ~5.5x ~$115 $357 ~55% Multiple Million Per kW Revenue Corporate pre-tax synergies expected to exceed $20 million annually 1 TEV is an abbreviation of total enterprise value. 5 2 EBITDA is a non-IFRS measure, certain addit
Slide 6: Heartland Generation Portfolio
Heartland Generation Portfolio Technology Contracted Gross Capacity Owned Capacity Asset Capacity (MW) (MW) Muskeg River Gas-fired Cogen 100% 202 202 Scotford Gas-fired Cogen 78% 195 195 McMahon Gas-fired Cogen 100% 120 60 Primrose Gas-fired Cogen 100% 100 50 Contracted Cogen 617 507 Joffre Gas Coge
Slide 7: Transaction at a Glance
Transaction at a Glance November 1, 2023 H1 2024 Purchase price of million Subject to customary Transaction closes plus million of low-cost closing conditions and debt regulatory approvals Financed using available liquidity 7
Slide 8: TransAlta is Committed to our Emissions Targets
TransAlta is Committed to our Emissions Targets TransAlta Carbon Reductions Combined Emissions of TransAlta and Heartland 2 Achieved to Date 1 (Million Tonnes CO2) 76% 32M 75% From 2005 Levels Annual Tonnes From 2005 ~ 10% 0% Of Canada’s Paris Coal-fired Emissions Agreement Target in Canada 39.0 23.
Slide 9: Our Value Proposition
Diversified and Clean electricity Our resilient fleet leader with ESG focus Value Proposition 4.6 GW Strong Moving growth pipeline financial position Forward
Slide 10: Questions & Answers
Questions & Answers Visit us at: www.transalta.com investor_relations@transalta.com