Slide 1: Third Quarter 2024 Results
Te transcita Third Quarter 2024 Results November 5, 2024
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 2024 achievements and strategic initiatives
Q3 2024Atachievements Transaction A Glance and strategic initiatives Results and Growth and customer Strategic initiatives financial position solutions Adjusted EBITDA1 of $325 million 41% from renewables Pursuing Centralia redevelopment Progressing Heartland Generation opportunities to closure FCF1
Slide 5: Pursuing multiple options for Centralia redevelopment
Pursuing multiple options for Centralia redevelopment Operating unit Transmission interconnection Natural gas Next generation technology potential site Skookumchuck Reservoir Water rights Temperate climate and existing cooling ponds Skilled workforce Centralia, availability Washington Renewables pot
Slide 6: TransAlta offers great locations for data centres
TransAlta offers great locations for data centres Wabamum Under 25ms latency1 Lake Area from Calgary Reliable Toronto Keephills operating units / and 41.83ms Highvale speed to market Sundance Transmission interconnection Wabamun Lake Seattle Calgary 20.56ms Boston 73.86ms Natural gas Sundance Manhat
Slide 7: Tracking toward upper end of 2024 Outlook
Tracking toward upper end of 2024 Outlook ($ millions) Nine months ended 2024 Outlook Year-to-date Sept. 30, 2024 results Adjusted EBITDA1 968 1,150 to 1,300 trending FCF1 521 450 to 600 towards upper end of FCF ($/share) 1 1.72 1.47 to 1.96 guidance 7 1 Adjusted EBITDA, Free Cash Flow, and Free Cas
Slide 8: Joel Hunter, Executive Vice President, Finance and CFO
Replace with JH image when available; Anna has booked headshots Joel Hunter Executive Vice President, Finance and Chief Financial Officer
Slide 9: TransAlta segmented results
TransAlta segmented results Three months ended Sept. 30, 2024 ($millions) Adjusted EBITDA1 Q3 2024 Q3 2023 Hydro 89 150 Strong Wind and Solar 44 37 performance Gas 139 254 across the entire fleet Energy Transition 34 29 Energy Marketing 54 13 Corporate (35) (30) Total 325 453 9 1 Adjusted EBITDA is
Slide 10: Alberta electricity portfolio
Alberta electricity portfolio 164% Q3 2024 prices AB fleet average realized merchant and contract $100 energy price premium to spot price in Q3 2024 1 $90 $85 Asset $80 151% optimization AB Hydro average merchant activities $60 $55 energy price premium to spot price in Q3 2024 2 generated significan
Slide 11: Hydro ancillary services provide stability
Hydro ancillary services provide stability Alberta hydro fleet volumes (GWh) 1,000 900 800 +33% Volume (GWh) 700 600 500 Ancillary volume increase year 400 over year 300 200 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Ancill
Slide 12: Strong hedge position through 2026
Strong hedge position through 2026 1,400 Strong 1,200 portfolio Average MW per hour 1,000 hedge position 800 solidifies cash 600 flows into 400 2026 200 0 Q4 2024 2025 2026 Capacity Contract C&I and financial hedges Q4 2024 Full year 2025 Full year 2026 Hedged Price ($/MWh) 82 75 78 power prices Vol
Slide 13: Enhancing shareholder returns with 2024 share repurchase program
Enhancing shareholder returns with 2024 share repurchase program $114 million Balanced, Repurchased 11.8 million common shares prudent and $150 disciplined million approach to capital allocation Delivered 76% of up to $150 million 2024 program 13
Slide 14: 2024 priorities
2024 priorities Safety, people and culture Financial and operational Improve leading and lagging safety Deliver top end adjusted EBITDA1 of $1.15 - $1.3 billion performance, including TRIF of 0.0 Long-term Deliver top end FCF1 of $450 - $600 million shareholder Advance leadership and talent developm
Slide 15: Diversified and resilient fleet, clean electricity leader
Diversified and resilient fleet Clean electricity leader High potential legacy energy campuses 5 GW growth pipeline Strong financial position Antrim, New Hampshire 15
Slide 16: Questions and answers
Questions and answers Visit us at: www.transalta.com Investor_relations@transalta.com 16