Transalta Corporation · TSX:TA
Transalta — Merger or Acquisition (June 2026)
9 slides from Transalta's merger presentation, Jun 3, 2026
Slide 1: Colorado Gas Portfolio Acquisition
Colorado Gas Portfolio Acquisition Mountain Peak Power, Colorado June 3, 2026
Slide 2: Advisories
Advisories A base shelf prospectus of TransAlta Corporation (the "Company" or "TransAlta") dated December 9, 2025 containing important information relating to the securities described in this presentation has been filed with the securities regulatory authorities in each of the provinces of Canada. A
Slide 3: Transaction At a Glance
Transaction At a Glance Acquisition Two new natural gas - fired peaking facilities, 162 MW Mountain Peak Power and 156 MW Canyon Peak Power, 100% contracted to investment grade counterparties for 25+ years in Colorado Transaction Value US$1.0 billion, consisting of the assumption of US$750 million o
Slide 4: Acquisition Highlights
Acquisition Highlights Adds scale with expected addition of approximately US$80 million ($110 million) 1 per year of low risk, high-quality Adjusted EBITDA with availability incentive payments upside Expected to be immediately accretive to free cash flow per share in the first full-year of ownership
Slide 5: Asset Overview
Asset Overview Mountain Peak Canyon Peak Power Power Capacity 162 MW 156 MW Expected COD September 2025 Q3 2026 Six GE Six GE Technology LM2500XPRESS LM2500XPRESS Denver Gas Turbines Gas Turbines Contract Term 30 Years 25 Years CORE Electric Customer United Power, Inc. Cooperative Customer Credit Ra
Slide 6: Continued Track Record of Strategic Acquisitions
Continued Track Record of Strategic Acquisitions TransAlta M&A 2023 to Current Criteria Colorado Gas Portfolio Far North Heartland TransAlta Renewables Assets attractively Continued growth in Contrarian view ahead Simplified corporate positioned for Strategic Rationale core geography with of recalib
Slide 7: Attractive Deal Metrics TransAlta Portfolio Strengthened
Attractive Deal Metrics Below the cost of new build gas- fired peakers with no anticipated Expected Annual Expected Annual Expected Free Cash construction or supply chain risks Free Cash Flow1 Adjusted EBITDA1 Flow Yield1 Returns enhanced with use of U.S. tax pools, expected $45 $110 insurance syner
Slide 8: Our Value Proposition
Safe and reliable operator Our Value Diversified portfolio Proposition High potential legacy energy campuses Positioned for growth Financial strength and flexibility 8 Centralia, Washington 8
Slide 9: Slide Notes
Slide Notes Slide 4 (1) Converted to Canadian dollars at a rate of 1.38. Slide 6 (1) Refer to the TransAlta news release in respect to the Far North acquisition dated November 17, 2025, for the corresponding ca lcu lation. (2) Refer to the TransAlta news release in respect to the Heartland Generatio