TransAlta Announces Conversion Results for Series G and H Preferred Stock

CALGARY, Alberta, Sept. 17, 2024 (GLOBE NEWSWIRE) — Following the press release from TransAlta Corporation (“TransAlta” or the “Company”) (TSX: TA; NYSE: TAC) dated August 22, 2024, the Company announced today that after taking into consideration all notices of election received for the conversion of the Rate Reset Cumulative Redeemable Preferred Stock, Series G (the “Series G Shares”) into Rate Reset Cumulative Redeemable Preferred Stock Floating, Series H Shares (the “Series H Shares”), there were only 20,607 Series G Shares proposed for conversion, which is less than the one million shares required to effect conversions into Series H Shares. of Series G Shares will be converted into Series H Shares on September 30, 2024.

About TransAlta Corporation:

TransAlta owns, operates and develops a diverse fleet of electric generation assets in Canada, the United States and Australia, with a focus on long-term shareholder value. TransAlta provides municipalities, large and medium-sized industries, businesses and utility customers with affordable, energy-efficient and reliable energy. Today, TransAlta is one of Canada’s largest producers of wind energy and the largest producer of hydroelectric power in Alberta. For more than 113 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live. TransAlta aligns its corporate objectives with the UN Sustainable Development Goals and the Future-Fit Business Benchmark, which also sets sustainable objectives for companies. Our reporting on climate change management was guided by the International Financial Reporting Standards (IFRS) S2 Climate-Related Disclosure Standard and the recommendations of the Working Group on Climate-Related Financial Disclosures (TCFD). TransAlta has achieved a 66% reduction in GHG emissions or 21.3 million tons of CO2e since 2015 and has received an updated MSCI ESG rating of AA.

For more information about TransAlta, visit our website at transalta.com.

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Forward-Looking Information

This press release contains certain forward-looking information that is subject to important risks and uncertainties (such statements are generally accompanied by words such as “may,” “will,” “should,” “estimate,” “intend” or other similar words). Specifically, this press release contains forward-looking information with respect to the Company and the conversion of Series G Shares and Series H Shares. All forward-looking information reflects the Company’s beliefs and assumptions based on information available at the time the statements are made. were made and, as such, are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information provided as of the date it is expressed in this press release. TransAlta undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information about the assumptions made and the risks and uncertainties that could cause actual results to differ from those contained in the forward-looking information, please see the Company’s most recent Annual Information Form, Annual Report and Management’s Discussion and Analysis and the Prospectus Supplement. dated August 8, 2014, in each case filed under the Company’s profile on SEDAR at www.sedarplus.com.

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