Mr. Joel Hunter reports

TRANSALTA APPOINTS MIKE POLITESKI AS CHIEF FINANCIAL OFFICER AND GRANT ARNOLD AS CHIEF COMMERCIAL OFFICER

TransAlta Corp. has appointed Mike Politeski as executive vice-president, finance, and chief financial officer and Grant Arnold as executive vice-president, growth, and chief commercial officer, effective May 1, 2026, and May 6, 2026, respectively. The appointments correspond with the transition of current executive vice-president and CFO Joel Hunter to the role of president and chief executive officer, effective April 30, 2026, following the retirement of current president and chief executive officer 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 Mr. 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, and treasurer at Veren Inc. (previously Crescent Point Energy Corp.). 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 Mr. Politeski, incoming executive vice-president and CFO.

Mr. Arnold brings over 30 years of leadership, commercial and technical experience in the power generation and energy sector. He 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 across 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 Mr. Arnold, incoming executive vice-president and CCO.

About TransAlta Corp.

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, its people have safely operated and evolved essential energy infrastructure that powers customers and communities. Its technology-diverse portfolio and disciplined execution allow it to deliver dependable power across evolving energy systems. It takes a practical, responsible approach to meeting today's energy needs while building for what comes next.

We seek Safe Harbor.