Slide 1: 2013 Annual & Special Meeting of Shareholders
essential. engaged. evolving. TransAlta Corporation 2013 Annual & Special Meeting of Shareholders. Tuesday, April 23 TransAlta
Slide 2: Welcome
Welcome Ambassador Gordon D. Giffin Chair of the Board 2
Slide 3: Call To Order
TransAlta Call To Order
Slide 4: Annual Audited Financial Statements and Auditor's Report
Board of Directors Annual Audited Financial Statements and Auditor’s Report Copies Available in the Lobby 4
Slide 5: Election of Directors
Board of Directors Election of Directors 5
Slide 6: Board of Directors
Board of Directors William D. Anderson Toronto, Ontario Director since 2003 6
Slide 7: Board of Directors
Board of Directors Timothy W. Faithfull Oxford, UK Director since 2003 7
Slide 8: Board of Directors
Board of Directors Dawn Farrell Calgary, Alberta President and CEO 8
Slide 9: Board of Directors
Board of Directors Alan J. Fohrer Arcadia, California Nominee 9
Slide 10: Board of Directors
Board of Directors C. Kent Jespersen Calgary, Alberta Director since 2004 10
Slide 11: Board of Directors
Board of Directors Michael M. Kanovsky Calgary, Alberta Director since 2004 11
Slide 12: Board of Directors
Board of Directors Gordon S. Lackenbauer Calgary, Alberta Director since 2005 12
Slide 13: Board of Directors
Board of Directors Karen E. Maidment Cambridge, Ontario Director since 2010 13
Slide 14: Board of Directors
Board of Directors Yakout Mansour El Dorado Hills, California Director since 2011 14
Slide 15: Board of Directors
Board of Directors Dr. Martha C. Piper Vancouver, British Columbia Director since 2006 15
Slide 16: Board of Directors
Board of Directors Ambassador Gordon D. Giffin Atlanta, Georgia Director since 2002 Chair of the Board 16
Slide 17: Board of Directors
Board of Directors 17
Slide 18: Appointment of Auditors
Board of Directors Appointment of Auditors 18
Slide 19: Shareholder Rights Plan
TransAlta Shareholder Rights Plan
Slide 20: Say on Pay
TransAlta Say on Pay
Slide 21: Remarks from the Chair of the Board
TransAlta Remarks from the Chair of the Board. Ambassador Gordon D. Giffin
Slide 22: President & Chief Executive Officer Report
TransAlta & President & Chief Executive Officer Report. Dawn Farrell
Slide 23: Forward Looking Statements
Forward Looking Statements This presentation may contain forward looking statements, including statements regarding the business and anticipated financial performance of TransAlta Corporation. All forward looking statements are based on our beliefs and assumptions based on information available at t
Slide 24: Dawn Farrell, President & CEO and Leadership Team
Dawn Farrell President & CEO Paul Taylor Brett Gellner Dawn de Lima John Kousinioris Ken Stickland President, Chief Financial Chief HR & Chief Legal & Chief Business US Operations Officer Communications Officer Compliance Officer Development Officer Robert (Bob) Emmott Cynthia Johnston Hugo Shaw Rob
Slide 25: 2012 Financial Performance
2012 Financial Performance Comparable EBITDA ($M) Comparable FFO ($M) $M $M 25
Slide 26: 2013 Q1 Financial Performance
2013 Q1 Financial Performance Comparable EBITDA ($M) Comparable FFO ($M) $M $M 26
Slide 27: 2013 Q1 Generation Gross Margin
2013 Q1 Generation Gross Margin Comparable Gross Margin1 3 months ended March 31, 2013 $M 27
Slide 28: TransAlta's Value Proposition
TransAlta’s Value Proposition Coal: 4,926 MW Highly diversified and contracted portfolio of generation assets Gas: 1,913 MW Significant renewables platform Well positioned to grow Hydro: 919 MW Strong operating group Merchant MW in Alberta & Pac NW Wind: 1,129 MW Geothermal: 164
Slide 29: Pacific Northwest Electricity Prices
Pacific Northwest Electricity Prices Actual Settles Forward Market $US/MWh Source: IntercontinentalExchange 29
Slide 30: Closing the Centralia EBITDA Gap in 2013
Closing the Centralia EBITDA Gap in 2013 Initiatives undertaken to close the gap from Centralia $M 30
Slide 31: Canadian GHG Emissions Certainty
Canadian GHG Emissions Certainty September of 2012 the Canadian Federal Government finalized coal GHG legislation Revised regulations added 43 additional years to TransAlta’s fleet Weighted average life of TransAlta’s Alberta coal fleet is 19 years under revised regulations 31
Slide 32: Longer-Term Upside Potential from Alberta PPA Plants
Longer-Term Upside Potential from Alberta PPA Plants Estimated incremental annual EBITDA post 2020 $M Cumulative potential upside (2021 – 2030) $4 - $8 billion 32
Slide 33: Centralia Gross Margin Sensitivity
Centralia Gross Margin Sensitivity 2013 - 2016 average annual gross margin ($M) $M $170 - $175 $140 - $145 $110 - $115 $80 - $85 Price ($/MWh) for remaining open positions 33
Slide 34: TransAlta's Growth Track Record
TransAlta’s Growth Track Record $4.5 billion invested in growth since 2005 1,800MW 34
Slide 35: Future Growth Opportunity Set
Future Growth Opportunity Set Over 18,000 MW of market opportunity requiring potential investment of $36 billion over the next 10 years MW TransAlta is well positioned to capture significant growth opportunities in our core markets 35
Slide 36: Funding Growth
Funding Growth Access to multiple sources of capital to fund growth Internally generated cash Public and Private partnerships / Structures Asset monetizations Equity Preferred Shares Debt 36
Slide 37: Questions & Answers
TransAlta Questions & Answers.
Slide 38: Shareholder Question Period
Shareholder Question Period Please stand and identify yourself Proxy holders should identify the shareholder they are representing Use one of the microphones provided to ask your question Please ask one question at a time If you have an additional question and there is additional time, you
Slide 39: Questions & Answers
TransAlta Questions & Answers.
Slide 40: 2013 Annual & Special Meeting of Shareholders
essential. engaged. evolving. TransAlta Corporation 2013 Annual & Special Meeting of Shareholders. Tuesday, April 23 TransAlta