TransAlta Corporation (TransAlta or the Company) (TSX: TA) (NYSE: TAC) is pleased to announce the appointment of Mike Politeski as Executive Vice President, Finance and Chief Financial Officer (EVP and CFO) and Grant Arnold as Executive Vice President, Growth and Chief Commercial Officer (EVP and CCO), effective May 1, 2026 and May 6, 2026, respectively.  The appointments correspond with the transition of current EVP and CFO, Joel Hunter, to the role of President and Chief Executive Officer (CEO) effective April 30, 2026, following the retirement of current President and CEO, John Kousinioris.

“I am very pleased to welcome Mike and Grant to TransAlta’s leadership team. Mike’s financial expertise, sound judgment and strategic perspective will be instrumental in supporting long-term value creation” said Joel Hunter, incoming President and CEO. “Grant’s track record in successfully originating and executing projects, along with his strong commercial acumen and stakeholder relationships, will drive the execution of our growth priorities. As I step into the President and CEO role at the end of April, I am confident that Mike and Grant will strengthen TransAlta’s high-calibre leadership team that will execute our strategy focused on disciplined growth and operational excellence,” concluded Mr. Hunter.

Mr. Politeski has over 25 years of experience across capital markets, financial strategy, risk, treasury, financial reporting and tax. Over the course of his career, he has played a significant role in large-scale transactions and business transformation, and brings deep experience in investor relations, governance and capital allocation. Most recently, Mr. Politeski served as Senior Vice President, Finance & Treasurer at Veren Inc. (previously Crescent Point Energy Corporation). He holds a Bachelor of Commerce with Distinction from the University of Saskatchewan and a CPA designation.

“TransAlta’s solid financial foundation, talented people and distinct asset base, position the Company to generate long-term value in a dynamic market. I look forward to working with the team, the Board of Directors and the investment community to deliver results and build upon an established platform,” said Mike Politeski, incoming EVP and CFO.

Mr. Arnold brings over 30 years of leadership, commercial and technical experience in the power generation and energy sector.  He previously served as President and CEO of BluEarth Renewables Inc., where he led the company through significant growth, expanding its operating and development portfolio across North America. Prior to that, he held senior roles at Suncor Energy spanning natural gas exploration and development, operations and renewables. Mr. Arnold holds a Master of Business Administration from the University of Calgary, along with a Master of Engineering and Bachelor of Science, both in Civil Engineering, from the University of Alberta.

“The electricity sector is going through radical change. TransAlta has the track record, scale and commercial breadth to grow successfully with what the market needs. This is an exciting new phase and I’m happy to be part of it,” said Grant Arnold, incoming EVP and CCO.

About TransAlta Corporation:

TransAlta is one of Canada’s largest publicly traded power generators, delivering reliable electricity across Canada, the United States and Western Australia. For more than 100 years, our people have safely operated and evolved essential energy infrastructure that powers customers and communities. Our technology-diverse portfolio and disciplined execution allow us to deliver dependable power across evolving energy systems. We take a practical, responsible approach to meeting today’s energy needs while building for what comes next.

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

Cautionary Statement Regarding Forward-Looking Information

This news release 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 Private Securities Litigation Reform Act of 1995 (collectively referred to herein as “forward-looking statements”). Forward-looking statements are not facts, but only predictions and generally can be identified by the use of statements that include phrases such as “may”, “will”, “believe”, “expect”, “estimate”, “anticipate”, “intend”, “plan”, “forecast”, “continue” or other similar words. In particular, this news release contains forward-looking statements about the  Company’s expectations that the executive leadership team appointments announced herein will assist with the execution of the Company’s strategy .

Forward-looking statements in this news release are intended to provide the reader information about management’s current expectations and plans and readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements are subject to important risks and uncertainties and are based on certain key assumptions. All forward-looking statements reflect TransAlta’s beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking statements, you should not put undue reliance on forward-looking statements and should not use such forward looking statements for anything other than their intended purpose. We do not update our forward-looking statements due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to our 2025 Integrated Report, including the section titled “Governance and Risk Management” in our MD&A for the year ended December 31, 2025, filed under TransAlta’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov.

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TransAlta Corporation 2026 Annual and Special Meeting of TransAlta Corporation Shareholders

On Thursday, April 30, 2026, TransAlta Corporation (TransAlta or the Company) (TSX: TA) (NYSE: TAC) will hold its annual and special meeting of shareholders at 11:30 a.m. Mountain Time (1:30 p.m. Eastern Time) in a virtual-only meeting format via live audio webcast (https://meetings.lumiconnect.com/400-012-606-918). The management proxy circular (available at https://transalta.com/investors/results-reporting/) provides detailed information about the business of the meeting and the voting process. TransAlta will only conduct the formal business of the meeting and there will not be a management presentation.    

First Quarter 2026 Results Conference Call

TransAlta will release its first quarter 2026 results before markets open on Wednesday, May 6, 2026. A conference call and webcast to discuss the results will be held for investors, analysts, members of the media and other interested parties the same day beginning at 9:00 a.m. Mountain Time (11:00 a.m. Eastern Time).

Webcast link: https://edge.media-server.com/mmc/p/kvzu99qi

To access the conference call via telephone, please register ahead of time using the call link: https://register-conf.media-server.com/register/BI822b565342704c408ff9a67ddcd0960c. Once registered, participants will have the option of 1) dialing into the call from their phone (via a personalized PIN); or 2) clicking the “Call Me” option to receive an automated call directly to their phone.

Related materials will be available on the Investor section of TransAlta’s website at https://transalta.com/investors/presentations-and-events/. If you are unable to participate in the call, the replay will be accessible at https://edge.media-server.com/mmc/p/kvzu99qi. A transcript of the broadcast will be posted on TransAlta’s website once it becomes available.    

About TransAlta Corporation:

TransAlta is one of Canada’s largest publicly traded power generators, delivering reliable electricity across Canada, the United States and Western Australia. For more than 100 years, our people have safely operated and evolved essential energy infrastructure that powers customers and communities. Our technology-diverse portfolio and disciplined execution allow us to deliver dependable power across evolving energy systems. We take a practical, responsible approach to meeting today’s energy needs while building for what comes next.

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

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TransAlta Corporation (TransAlta or the Company) (TSX: TA) (NYSE: TAC) is pleased to host its 2026 Investor Day today, in Toronto and virtually. A subset of TransAlta’s executive leadership team will discuss the Company’s outlook for the Alberta power market, along with its strategic priorities, financial position, and long-term path for rateable, attractive growth.

“TransAlta is well positioned to grow in our core geographies where our existing assets, optimization capabilities and development platforms give us a clear advantage,” said John Kousinioris, President and Chief Executive Officer of TransAlta. “We expect the Alberta market to recover meaningfully through the end of the decade as demand growth increases, including with data centre load coming to the province. Our assets are best positioned to capture the growth, including through our recently announced MOU to advance a development project to exclusively provide power and land to serve CPP Investments and Brookfield’s data centre. As I transition into my retirement, I am confident in our repositioned and resilient base business, embedded upside, strategy and team that will ensure continued execution,” concluded Mr. Kousinioris.

“The outlook for power has never been stronger, and existing generation will play a critical role to fulfill growing reliability requirements,” said Joel Hunter, Executive Vice President, Finance, Chief Financial Officer and Incoming President and Chief Executive Officer. “Our strategic priorities are focused. We aim to maximize value from our base business, while selectively investing in growth opportunities that enhance contracted cash flows and long‑term optionality.”

“We are focused on the successful execution of our Alberta data centre and Centralia opportunities, which we believe offer the most attractive returns for the Company. We will also continue to develop a refined, high-quality project pipeline, for capital deployment later in the decade while actively pursuing strategic M&A that enhances our footprint. As we look out to 2029, we expect meaningful Adjusted EBITDA and free cash flow growth which sets the Company up for the long-term,” concluded Mr. Hunter.

Investor Day and Webcast
The formal presentation will commence at 9:00 a.m. Eastern Time. The presentation will be broadcast live via webcast with video and will be accessible by web browser. The recorded video webcast and corresponding presentation will also be made available on the Investor Centre section of TransAlta’s website at http://www.transalta.com/investors/events-and-presentations following the event.

Webcast attendees can register to receive web access information for the live event below. Registration for the webcast can also be found in the Investor Centre of TransAlta’s website.

2026 Investor Day Webcast Registration Link:
https://reg.lumiengage.com/transalta/registration/Site/Register

Event details:
TransAlta 2026 Investor Day
March 23, 2026
Start time: 9:00 a.m. ET / 7:00 a.m. MT

About TransAlta Corporation:
TransAlta is one of Canada’s largest publicly traded power generators, delivering reliable electricity across Canada, the United States and Western Australia. For more than 100 years, our people have safely operated and evolved essential energy infrastructure that powers customers and communities. Our technology-diverse portfolio and disciplined execution allow us to deliver dependable power across evolving energy systems. We take a practical, responsible approach to meeting today’s energy needs while building for what comes next.

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

Cautionary Statement Regarding Forward-Looking Information
This news release 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 Private Securities Litigation Reform Act of 1995 (collectively referred to herein as “forward-looking statements”). Forward-looking statements are not facts, but only predictions and generally can be identified by the use of statements that include phrases such as “may”, “will”, “believe”, “expect”, “estimate”, “anticipate”, “intend”, “plan”, “forecast”, “continue” or other similar words. In particular, this news release contains forward-looking statements about the following, among other things: things: the Company’s views of the Alberta power market to the end of the decade and the Company’s advantage to capture such growth and the Company’s expectations that it will experience meaningful Adjusted EBITDA and free cash flow growth to 2029.

Forward-looking statements in this news release are intended to provide the reader information about management’s current expectations and plans and readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements are subject to important risks and uncertainties and are based on certain key assumptions. All forward-looking statements reflect TransAlta’s beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking statements, you should not put undue reliance on forward-looking statements and should not use such forward looking statements for anything other than their intended purpose. We do not update our forward-looking statements due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to our 2025 Integrated Report, including the section titled “Governance and Risk Management” in our MD&A for the year ended December 31, 2025, filed under TransAlta’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov.

Non-IFRS and Supplementary Financial Measures
This news release contains references to the following Non-IFRS measures: Adjusted EBITDA and Free Cash Flow (FCF). Non-IFRS measures do not have standardized meanings under IFRS and are unlikely to be comparable to similar measures presented by other companies and should not be viewed in isolation from, as an alternative to, or more meaningful than, our IFRS results. We use these measures to evaluate our performance and the performance of our business segments and believe that these measures, read together with our IFRS measures, provide readers with a better understanding of how management assesses results. Presenting these measures from period to period provides management and investors with the ability to evaluate earnings (loss) trends more readily in comparison to prior periods’ results. These measures are calculated by adjusting certain IFRS measures for certain items we believe are not reflective of our ongoing operations in a period and are calculated on a consistent basis from period to period and are adjusted for specific items in each period, unless stated otherwise. Refer to the Non-IFRS and Supplementary Measures section of our most recent MD&A, for more information about these measures including, where applicable, reconciliations to measures calculated in accordance with IFRS.

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Further to TransAlta Corporation’s (TransAlta or the Company) (TSX: TA) (NYSE: TAC) press release dated March 2, 2026, the Company announced today that none of its 9,629,913 currently outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series A (Series A Shares) will be converted on March 31, 2026, on a one-for-one basis, into Cumulative Redeemable Floating Rate First Preferred Shares, Series B (Series B Shares), and (ii) 1,148,549 of its 2,370,087 currently outstanding Series B Shares will be converted on March 31, 2026, on a one-for-one basis, into Series A Shares. As a result, on March 31, 2026, the Company will have 10,778,462 Series A Shares issued and outstanding and 1,221,538 Series B Shares issued and outstanding.

The Series A Shares and Series B Shares are currently listed on the Toronto Stock Exchange under the symbols TA.PR.D and TA.PR.E, respectively.  

About TransAlta Corporation:

TransAlta is one of Canada’s largest publicly traded power generators, delivering reliable electricity across Canada, the United States and Western Australia. For more than 100 years, our people have safely operated and evolved essential energy infrastructure that powers customers and communities. Our technology-diverse portfolio and disciplined execution allow us to deliver dependable power across evolving energy systems. We take a practical, responsible approach to meeting today’s energy needs while building for what comes next.

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

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “may”, “will”, “should”, “estimate”, “intend” or other similar words). Specifically, this news release contains forward-looking information with respect to the Company and the conversion of the Series A Shares and the Series B Shares.  All forward-looking information reflects the Company’s beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release. TransAlta undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from those in the forward-looking information, refer to the Company’s most recent Annual Report and Management’s Discussion and Analysis and the Prospectus Supplement dated Dec. 3, 2010, in each case filed under the Company’s profile on SEDAR at www.sedarplus.com.

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