Slide 1: Q1 2021 Results
Q1 2021 Results May 13, 2021 TransAlta Corporation 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements or information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. All forward-looking statements are based on our beliefs as well as assumptions ba
Slide 3: John Kousinioris
John Kousinioris President and Chief Executive Officer 3
Slide 4: Q1 Achievements
Q1 Achievements Q1 Results and Financial Growth and Customer Strategic Initiatives Position Solutions EBITDA increase of 41% 130 MW Garden Plain wind Credit facilities renewed and farm launched with Pembina extended FCF per share increase of Pipeline 23% Sundance 6 CTG complete 207 MW Wi
Slide 5: Launched Garden Plain 130 MW Wind Project in Alberta
Launched Garden Plain 130 MW Wind Project in Alberta 18-year 100 MW renewable PPA with Pembina First for Pembina to advance ESG objectives ~$195 million capital Expected EBITDA of ~$17 million in 2023 Target COD H2 2022 TransAlta’s 11th Alberta Wind Farm Growing Our Wind Fleet to Over 2 GW
Slide 6: TransAlta's Growth Pipeline
TransAlta’s Growth Pipeline Owned Projects Location COD Range MW Advanced-Stage Projects in Development Garden Plain Wind 130 AB 2022 Horizon Hill Wind 200 OK 2023 – 2024 White Rock East 200 OK 2023 – 2024 Wind White Rock West 100 OK 2023 – 2024 Wind Early/Mid-Stage Prospects Australia 35 WA 2022
Slide 7: Todd Stack
Todd Stack EVP, Finance and Chief Financial Officer 7
Slide 8: 2021 Q1 Financial Highlights
2021 Q1 Financial Highlights 3- MONTHS ENDED MARCH 31, 2021 Comparable EBITDA FCF FCF Per Share ($) ($ millions) ($ millions) $310 $220 $0.48 $129 $109 $0.39 2020 2021 2020 2021 2020 2021 Excellent Cash Flow Generation Driven by Our Alberta Hydro Fleet 8
Slide 9: Cash Flow Results by Segment
Cash Flow Results by Segment 3- MONTHS ENDED MARCH 31, 2021 Q1 2021 Q1 2020 Change Hydro 72 23 Wind and Solar 69 72 North American Gas 33 29 Australian Gas 32 28 Alberta Thermal 17 22 Centralia 9 28 Generation segmented cash flow 232 202 15% Energy Marketing 45 18 Corporate (11) (33) Total segmented
Slide 10: TransAlta Renewables Q1 2021 Highlights
TransAlta Renewables Q1 2021 Highlights 3- MONTHS ENDED MARCH 31, 2021 Q1 2021 Q1 2020 Comparable EBITDA 123 118 AFFO 93 94 CAFD 90 91 AFFO per share 0.35 0.35 CAFD per share 0.34 0.34 Dividends per share 0.23 0.23 Stable Cash Flows From Highly Diversified and Contracted Portfolio 10
Slide 11: Alberta Electricity Portfolio
Alberta Electricity Portfolio 2,738 GWh of production during the $375quarter $284 million of revenue from energy and ancillary services 3- MONTHS ENDED MARCH 31, 2021 AB Thermal AB Hydro Average Pool Price $95/MWh Energy Total Production 2,108 GWh 320 GWh Hedged Volumes ~1,600 GWh - Average Real
Slide 12: 2021 Financial Strength
2021 Financial Strength FCF ($MILLIONS) FCF PER SHARE Guidance $450 $1.60 $340 - $440 $1.40 $367 $379 $375 $1.20 $1.34 $358 $1.28 $1.30 $300 $328 $1.14 $1.00 $0.80 $0.60 $150 $0.40 $0.48 $129 $0.20 $- $- 2017 2018 2019 2020 2021 Q1 2017 2018 2019 2020 2021 Q1 SENIOR CORPORATE DEBT1 ($BILLIONS) LIQUI
Slide 13: 2021 Balance of Year Priorities
2021 Balance of Year Priorities Safety, Reliability and Growth and Customer Strategic Initiatives Availability Solutions Achieve strong safety Complete Windrise Recontract Sarnia performance Commence construction on Complete Keephills 2 CTG Achieve strong fleet Garden Plain Complete Ke
Slide 14: TransAlta - An Attractive Investment
TransAlta - An Attractive Investment Well-diversified Clean power portfolio of assets leader with strong driving resilient ESG focus cash flows Robust and diversified pipeline ~2.5 GW of with Strong financial opportunities and position, financial leading development discipline, and capacity expertis
Slide 15: Questions & Answers
Questions & Answers Visit us at TransAlta.com