Slide 1: Q2 2022 Results
Q2 2022 Results August 5, 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: Q2 2022 At A Glance
Q2 2022 At Transaction Achievements A Glance Q2 2022 Results and Strategic Financial Position Initiatives Adjusted EBITDA1 of of growth announced in Advanced rehabilitation of Kent Oklahoma at Horizon Hill wind facility Hills and extended contracts with NB Power for Mount Keith Transmission Expansio
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 H2 2022 customer
Slide 6: Development Pipeline: United States
Development Pipeline: United States Total All Stages: 1,650 MW – 1,900 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 2024-2025 Big Timber 50 Wind PA 2026
Slide 7: Development Pipeline: Canada
Development Pipeline: Canada Total All Stages: 1,820 MW – 2,670 MW COD Project MW Fuel Location Stage Range Garden Plain 130 Wind AB 2022 Tempest 100 Wind AB 2024 Riplinger 300 Wind AB 2025 Willow Creek 1 70 Wind AB 2024-2025 Willow Creek 2 70 Wind AB 2024-2025 WaterCharger 180 Battery AB 2023 SunHi
Slide 8: Development Pipeline: Australia
Development Pipeline: Australia Total All Stages: 298 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 40 Gas WA 2023 Expansion Goldfields Wind, Solar, 160 WA 2024 Expansions Gas South He
Slide 9: Todd Stack
Todd Stack Executive Vice President, Finance and Chief Financial Officer President, TransAlta Renewables Inc.
Slide 10: Alberta Electricity Portfolio
Alberta Electricity Portfolio Q2 2022 Realized Prices 7% 4% Alberta H ydro average Gas and Energy Transition 2022 Balance of Year Hedging premium in Q2 2022 average premium in Q2 2022 1 Average $150 Volume Hedge Price $130 Energy 3,063 GWh ~$76 / MWh Natural Gas 95%2 $3.72 / GJ $110 Average 231 mill
Slide 11: TransAlta Segmented Results
TransAlta Segmented Results 3 and 6 Months Ended June 30, 2022 Q2 2022 Q2 2021 Adjusted EBITDA1 YTD 2022 YTD 2021 88 96 Hydro 149 173 88 55 Wind and Solar 177 131 65 124 Gas 170 230 11 25 Energy Transition 16 41 50 43 Energy Marketing 67 98 (23) (24) Corporate (41) (32) 279 319 Total 538 641 1 Adjus
Slide 12: Financial Strength
Financial Strength Adjusted EBITDA 1 ($millions) FCF 1 ($millions) 2022 Guidance $455 - $555 2022 Guidance $1,065 - $1,185 $562 $1,263 $1,123 $984 $367 $379 $927 $358 $253 $538 2018 2019 2020 2021 2022 YTD 2018 2019 2020 2021 2022 YTD FCF Per Share 1 $2.07 $1.28 $1.34 $1.30 $0.93 Cash and available
Slide 13: TransAlta Renewables Q2 2022 Highlights
TransAlta Renewables Q2 2022 Highlights 3 and 6 Months Ended June 30, 2022 Q2 2022 Q2 2021 YTD 2022 YTD 2021 126 97 Adjusted EBITDA1 265 220 49 40 CAFD1 139 130 0.18 0.15 CAFD per share1 0.52 0.49 0.23 0.23 Dividends per share 0.47 0.47 1 Adjusted EBITDA, CAFD, and CAFD per share are non-IFRS measur
Slide 14: 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 15: Our Value Proposition
Diversified and Clean electricity Our resilient fleet leader with ESG focus Value Proposition 3+ GW Strong growth pipeline financial position
Slide 16: Questions and Answers
Questions and Answers Visit us at: www.transalta.com Investor_relations@transalta.com