Mr. John Kousinioris reports

TRANSALTA ANNOUNCES RETIREMENT OF CFO AND APPOINTMENT OF NEW CFO

TransAlta Corp.'s Todd Stack, executive vice-president, finance and chief financial officer, is retiring from the company, effective June 30, 2024.

"On behalf of the board of directors and management team, I wish to express my deep appreciation to Todd for his contributions to TransAlta and its success during his 34-year tenure with the company. As CFO, Todd has played a leadership role in strengthening our balance sheet and simplifying our corporate structure as he helped position TransAlta to deliver on its strategic objectives into the future," said John Kousinioris, president and chief executive officer.

"Todd has been a strong member of our leadership team and will be missed for his commitment to the company and its employees. I want to personally thank Todd for his partnership and for facilitating a seamless transition of his role."

TransAlta also announced today that the board has appointed Joel E. Hunter as executive vice-president, finance, and chief financial officer, effective July 1, 2024. Mr. Hunter is a seasoned energy executive with over 26 years of finance, capital markets and strategic planning expertise. Mr. Hunter currently serves as executive vice-president and CFO with TC Energy.

"We are excited to have someone of Joel's calibre join TransAlta's leadership team and help TransAlta realize its full potential. Joel's energy sector experience, extensive financial and capital markets expertise, and established reputation as a strong, collaborative leader will be immensely valuable to the execution of our strategic objectives," said Mr. Kousinioris. "On behalf of our board and employees, I welcome Joel to TransAlta and look forward to working closely with him."

Mr. Hunter is a chartered financial analyst (CFA) and holds a bachelor of commerce (accounting) from the University of Calgary, and a bachelor of arts (economics) from the University of Regina.

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 112 years, TransAlta has been a responsible operator and a proud member of the communities where it operates and where its employees work and live.