An anonymous director reports

TRANSALTA DECLARES DIVIDENDS

The board of directors of TransAlta Corp. has declared a quarterly dividend of four cents per common share payable on April 1, 2019, to shareholders of record at the close of business on March 1, 2019.

The board of directors also declared the following quarterly dividend on its cumulative redeemable rate-reset first preferred shares for the period starting from and including Dec. 31, 2018, up to but excluding March 31, 2019.

   
Preferred       TSX stock      Dividend        Dividend      Record date      Payment date 
shares             symbol          rate       per share  
                
Series A          TA.PR.D        2.709%        $0.16931    March 1, 2019    March 31, 2019
Series B*         TA.PR.E        3.743%        $0.23073    March 1, 2019    March 31, 2019
Series C          TA.PR.F        4.027%        $0.25169    March 1, 2019    March 31, 2019
Series E          TA.PR.H        5.194%        $0.32463    March 1, 2019    March 31, 2019
Series G          TA.PR.J        5.300%        $0.33125    March 1, 2019    March 31, 2019

* Please note the quarterly floating rate on the Series B preferred shares 
will be reset every quarter.

When the dividend payment date falls on a weekend or holiday, the payment is made the following business day.

About TransAlta Corp.

TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia, with a focus on long-term shareholder value.