Slide 1: Q3 2022 Results
Q3 2022 Results November 8, 2022
Slide 2: Disclaimer and Forward-Looking Statements
Disclaimer and Forward-Looking Statements This presentation includes "forward-looking information" within the meaning of applicable Canadian securities laws, and "forward-looking statements" within the meaning of applicable United States securities laws, including the United States Private Securitie
Slide 3: John Kousinioris, President and Chief Executive Officer
John Kousinioris President and Chief Executive Officer
Slide 4: Q3 2022 At A Glance
Q3 2022 At Transaction Achievements A Glance Q3 2022 Results and Strategic Financial Position Initiatives Adjusted EBITDA1 of of advanced stage of generation EBITDA from development projects renewables and storage in Q3 2022 versus in 2020 FCF1 of or per share Added to renewables development pipelin
Slide 5: Clean Electricity Growth Plan Execution
Clean Electricity Growth Plan Execution Capital EBITDA MW Location PPA Term Customer COD ($ millions) ($ millions) North Carolina Solar 122 North Carolina US$99 11 years Duke US$9 In service Pembina and Garden Plain Wind 130 Hanna, AB $190 - $200 17 years1 investment-grade $14 - $15 Q4 2022 customer
Slide 6: Development Pipeline: United States
Development Pipeline: United States Total All Stages: 1,994 MW – 2,244 MW Project MW Fuel Location Stage COD Range White Rock West 100 Wind OK 2023 White Rock East 200 Wind OK 2023 Horizon Hill 200 Wind OK 2023 Prairie Violet 130 Wind IL 2026 Old Town 185 Wind IL 2025 Big Timber 50 Wind PA 2026 Trap
Slide 7: Development Pipeline: Canada
Development Pipeline: Canada Total All Stages: 2,017 MW – 2,867 MW COD Project MW Fuel Location Stage Range Garden Plain 130 Wind AB 2022 Tempest 100 Wind AB 2024 WaterCharger 180 Battery AB 2023 Riplinger 300 Wind AB 2025 Willow Creek 1 70 Wind AB 2024-2025 Willow Creek 2 70 Wind AB 2024-2025 Red R
Slide 8: Development Pipeline: Australia
Development Pipeline: Australia Total All Stages: 310 MW COD Project MW Fuel Location Stage Range Northern Solar and 48 WA 2022 Goldfields Solar Battery Mt Keith 132kV N/A Transmission WA 2023 Expansion SCE Capacity 42 Gas WA 2023 Expansion Goldfields Wind, Solar, 170 WA 2024 Expansions Gas South He
Slide 9: Todd Stack, EVP Finance and Chief Financial Officer
Todd Stack Executive Vice President, Finance and Chief Financial Officer President, TransAlta Renewables Inc.
Slide 10: Alberta Electricity Portfolio
Alberta Electricity Portfolio Q3 2022 Realized Merchant Prices 11% 19% Alberta H ydro average Alberta Gas average 2022 Balance of Year Hedging premium in Q3 2022 premium in Q3 2022 1 Average Volume $250 Hedge Price $230 Energy 1,850 GWh ~$95 / MWh $210 $190 Natural Gas 98%2 $3.62 / GJ $170 $150 Aver
Slide 11: TransAlta Segmented Results
TransAlta Segmented Results 3 and 9 Months Ended September 30, 2022 Q3 2022 Q3 2021 Adjusted EBITDA1 YTD 2022 YTD 2021 245 82 Hydro 394 255 42 55 Wind and Solar 219 186 195 155 Gas 365 385 51 55 Energy Transition 67 96 53 79 Energy Marketing 120 177 (31) (24) Corporate (72) (56) 555 402 Total 1,093
Slide 12: Alberta Hydro Exceeds Expectations
Alberta Hydro Exceeds Expectations Hydro Adjusted EBITDA 1 ($millions) Hydro Volumes (GWh) 450 900 400 800 350 700 300 $ millions 250 600 200 500 150 400 100 300 50 200 0 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 2020 2021 2022 YTD Ancillary Service Energy TA EBITDA Payment under Hydro PPA Rea
Slide 13: Financial Strength
Financial Strength Adjusted EBITDA 1 ($millions) FCF 1 ($millions) 2022 2022 Updated Guidance Updated Guidance $1,380 to $1,460 $725 to $775 $1,263 $1,093 $646 $927 $562 $358 2020 2021 2022 YTD 2020 2021 2022 YTD FCF Per Share 1 Cash and available credit facility At the midpoint of updated guidance
Slide 14: 2022 Outlook Update
2022 Outlook Update Revised Outlook Previous Outlook as of Change from Previous ($ millions) Q3 2022 Q2 2022 Midpoint Adjusted EBITDA1 $1,380 to $1,460 $1,065 to $1,185 + 26% FCF1 $725 to $775 $445 to $555 + 49% Power and Gas Prices Power and Gas Prices Change from Previous Market 2022 Revised Outlo
Slide 15: TransAlta Renewables Q3 2022 Highlights
TransAlta Renewables Q3 2022 Highlights 3 and 9 Months Ended September 30, 2022 Q3 2022 Q3 2021 YTD 2022 YTD 2021 88 102 Adjusted EBITDA1 355 322 46 54 CAFD1 185 184 0.17 0.20 CAFD per share1 0.69 0.69 0.23 0.23 Dividends per share 0.70 0.70 1 Adjusted EBITDA, CAFD, and CAFD per share are non-IFRS m
Slide 16: 2022 Priorities
2022 Priorities Safety, Reliability Strategic Initiatives and Availability Achieve strong safety performance Secure 400 MW of growth Accelerate CO2 emissions reduction to 75% from 2015 levels by 2026 Complete Garden Plain and Northern Achieve strong fleet availability Goldfields Solar Progress ESG e
Slide 17: Our Value Proposition
Diversified and Clean electricity Our resilient fleet leader with ESG focus Value Proposition 3.5+ GW Strong growth pipeline financial position
Slide 18: Questions and Answers
Questions and Answers Visit us at: www.transalta.com Investor_relations@transalta.com