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TransAlta joins other water license holders and the Alberta

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CALGARY, Alberta, April 19, 2024 (GLOBE NEWSWIRE) — TransAlta Corporation (“TransAlta” or the “Company”) (TSX: TA) (NYSE: TAC) today announced that it is entering into a voluntary water sharing memorandum has agreements (“MOU”) with over thirty other water license holders in the Bow River Basin.

The Government of Alberta has initiated water sharing memorandums of understanding across southern Alberta to coordinate water needs in what is expected to be a water-stressed year.

Because of its role in managing water storage and flows in the Bow River system for power generation, drought prevention and flood control, the Company works with other downstream water license holders to manage water flows.

TransAlta will contribute to this effort by maximizing runoff storage in the spring and then using that water to manage river flows in the summer. The MOUs do not include TransAlta's facilities on the North Saskatchewan River system.

“TransAlta recognizes the unique role our Bow River system plays in controlling water flow while serving as a key component of Alberta’s electric grid. We look forward to working with the government and downstream license holders to maximize water storage in the spring and maintain water flow during the summer months to mitigate drought conditions should they occur,” said Blain van Melle, Executive Vice President, Commercial and customer relationships.

TransAlta expects these water management efforts to be consistent with its power generation goals and practices during the spring and summer seasons. The Company does not expect this voluntary agreement to have a material impact on the performance of TransAlta's hydroelectric fleet, and the performance of the hydroelectric operations is expected to be consistent with the Company's 2024 guidance range based on current hydro forecasts. TransAlta will continue to maintain full capacity and ability to respond when these hydroelectric facilities are required by the grid and will continue to meet its environmental obligations.

About TransAlta Corporation:

TransAlta owns, operates and develops a diverse fleet of power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides clean, affordable, energy efficient and reliable electricity to municipalities, medium and large industrial facilities, businesses and utility customers. Today, TransAlta is one of Canada's largest wind power producers and Alberta's largest hydroelectric power producer. For over 112 years, TransAlta has been a responsible operator and a proud member of the communities in which we operate and where our employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and the Future-Fit Business Benchmark, which also defines sustainable goals for companies. Our reporting on climate change management is based on the International Financial Reporting Standards (IFRS) S2 Climate-Related Disclosures Standard and the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). TransAlta has achieved a 66 percent reduction in greenhouse gas emissions, or 21.3 million metric tons of CO2e, since 2015 and has received an improved MSCI ESG rating of AA.

For more information about TransAlta, please visit our website at transalta.com.

Cautionary Statement Regarding Forward-Looking Information

This press release contains “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 United States Private Securities Litigation Reform Act of 1995 (collectively referred to herein as “forward-looking statements”). In In some cases, forward-looking statements can be identified by words such as “plans,” “expects,” “proposed,” “will,” “anticipates,” “develop,” “continue” and similar expressions that indicate future events or future performance in particular This press release contains, without limitation, statements regarding the expected benefits arising from the Memorandum of Understanding (as defined above); cooperation with other downstream water license holders to manage water flows and it will; expects the performance of the hydroelectric fleet and operations to be consistent with the 2024 forecast range. These forward-looking statements are not historical facts, but are based on TransAlta's beliefs and assumptions based on information available at the time the assumptions were made, including, but not limited to, water flow forecasts in the Bow River system; and the political and regulatory environment does not change significantly. These statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Factors that could cause such differences include: adverse changes in water flows in the Bow River system for power generation; changes in market power and gas prices; cybersecurity breaches; legislative or regulatory developments and their impact; increasingly strict environmental regulations and their effects; increased competition; global capital markets activities (including our ability to access financing at a reasonable cost or at all); changes in prevailing interest rates, exchange rates and inflation levels; armed hostilities; general economic conditions in the geographic areas in which TransAlta operates; and other risks and uncertainties discussed in TransAlta's materials filed from time to time with securities regulatory authorities and as set forth in TransAlta's MD&A and Annual Information Form for the fiscal year ended December 31, 2023. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect only TransAlta's expectations as of the date of this press release. The purpose of the financial outlook contained in this press release is to inform the reader of management's current expectations and plans. Readers are cautioned that this information may not be appropriate for other purposes and is available as of the date of this press release. TransAlta disclaims any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

For more informations:

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