Slide 1: Q1 2022 Results
Tra nsAlta Q1 2022 Results MAY 6, 2022
Slide 2: Forward-Looking Statements
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 Securities Litigation Re
Slide 3: John Kousinioris, President and CEO
John Kousinioris President and Chief Executive Officer 3
Slide 4: Q1 2022 Achievements
Q1 2022 Achievements 2022 RESULTS AND GROWTH AND CUSTOMER STRATEGIC INITIATIVES FINANCIAL POSITION SOLUTIONS 1 EBITDA of $266 million 200 MW of growth announced in Advanced Clean Electricity Growth Plan Oklahoma at Horizon Hill wind facility 1 FCF of $115 million or $0.42 per share Retirem
Slide 5: Horizon Hill Wind with Meta
Horizon Hill Wind with Meta Project Highlights Location Logan County, OK Contracted 100% Size 200 MW Customer Meta Technology Vestas EBITDA US$27-30 million COD H2 2023 Term Long-term On-site construction to begin in Q4 2022 ~90% of project capital fixed Provides a significant step towards 2 GW targ
Slide 6: Mt. Keith Transmission Expansion
Mt. Keith Transmission Expansion Project Highlights Location W. Australia Contracted 100% Customer BHP EBITDA AU$6-7 million COD H2 2023 Term 15 years On-site construction underway Supports BHP’s operations Facilitates the connection of additional generating capacity to our network Building our rela
Slide 7: Clean Electricity Growth Plan Execution
Clean Electricity Growth Plan Execution Capital EBITDA MW Location PPA Term Customer COD ($ millions) ($ millions) Pembina and Garden Plain Wind 130 Hanna, AB $190 - $200 17 years1 investment-grade $14 - $18 H2 2022 customer Northern Goldfields Solar 48 Western Australia AU$69 - $73 16 years BHP AU$
Slide 8: Development Pipeline - United States
Development Pipeline Total All Stages: 1,275 MW UNITED STATES 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 Other US Wi
Slide 9: Development Pipeline - Canada
Development Pipeline Total All Stages: 1,520 – 2,120 MW CANADA PROJECT MW FUEL LOCATION STAGE COD 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 SunHills
Slide 10: Development Pipeline - Australia
Development Pipeline Total All Stages: 228 MW AUSTRALIA PROJECT MW FUEL LOCATION STAGE COD 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, 90 WA 2024 Expansions Gas South Hedl
Slide 11: Todd Stack, EVP Finance and CFO
Todd Stack Executive Vice President, Finance and Chief Financial Officer President, TransAlta Renewables Inc. 11
Slide 12: Alberta Electricity Portfolio
Alberta Electricity Portfolio Q1 2022 Realized Prices and 2022 Balance of Year Hedging 20% 14% ALBERTA HYDRO GAS AND ENERGY TRANSITION AVERAGE PREMIUM IN Q1 2022 AVERAGE PREMIUM IN Q1 2022 Hedging 2022 BOY Assumptions $130 Volume Average Hedge Price $110 Energy 4,890 GWh ~$73 / MWh $90 Natural 75%1
Slide 13: TransAlta Segmented Results
TransAlta Segmented Results 3 Months Ended March 31, 2022 Q1 2022 Q1 2021 Hydro 61 77 Wind and Solar 89 76 Gas 102 106 Energy Transition 5 16 Energy Marketing 27 43 Corporate (18) (8) Total Adjusted EBITDA1 266 310 Tracking to expectations 1 EBITDA and Adjusted EBITDA is a non-IFRS measure. Reconcil
Slide 14: Financial Strength
Financial Strength ADJUSTED EBITDA 1 ($MILLIONS) FCF 1 ($MILLIONS) 2022 Guidance 2022 Guidance $1,065 - $1,185 $455 - $555 $562 $1,263 $1,123 $984 $927 $379 $367 $358 $266 $115 2018 2019 2020 2021 2022 YTD 2018 2019 2020 2021 2022 YTD FCF PER SHARE 1 $2.07 ~$2 Billion $1.28 $1.34 $1.30 CASH AND AVAI
Slide 15: TransAlta Renewables Q1 2022 Highlights
TransAlta Renewables Q1 2022 Highlights 3 Months Ended March 31, 2022 Q1 2022 Q1 2021 Adjusted EBITDA1 139 123 CAFD1 90 90 CAFD per share1 0.34 0.34 Dividends per share 0.23 0.23 1 EBITDA and Adjusted EBITDA, CAFD, and CAFD per share are non-IFRS measures. Reconciliations to the nearest IFRS measure
Slide 16: 2022 Priorities
2022 Priorities SAFETY, RELIABILITY AND GROWTH AND COMMERCIAL STRATEGIC INITIATIVES AVAILABILITY • Achieve strong safety • Reach FID on 400 MW of additional clean • Accelerate CO2 emissions reduction to performance energy projects 75% from 2015 levels by 2026 • Achieve strong fleet availability • Ac
Slide 17: Our Value Proposition
Diversified and Clean power leader resilient fleet with ESG focus Our Value Proposition ~3 GW Strong growth pipeline financial position 17
Slide 18: Questions & Answers
Questions & Answers Visit us at: www.transalta.com Investor_Relations@TransAlta.com 18