An anonymous director reports

TRANSALTA DECLARES DIVIDENDS

The board of directors of TransAlta Corp. has declared a quarterly dividend of 5.5 cents per common share payable on July 1, 2023, to shareholders of record at the close of business on June 1, 2023.

The board of directors also declared a quarterly dividend on its cumulative redeemable rate reset first preferred shares for the period starting from and including March 31, 2023, up to but excluding June 30, 2023.

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. TransAlta provides municipalities, medium and large industries, businesses, and utility customers with clean, affordable, energy-efficient and reliable power. Today, TransAlta is one of Canada's largest producers of wind power and Alberta's largest producer of hydroelectric power. For over 111 years, TransAlta has been a responsible operator and a proud member of the communities where it operates and where its employees work and live. TransAlta aligns its corporate goals with the United Nations Sustainable Development Goals and its climate change strategy with CDP (formerly Climate Disclosure Project) and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. TransAlta has achieved a 68-per-cent reduction in greenhouse gas emissions or 22 million tonnes since 2015, and has received scores of A minus from CDP and A from MSCI.