TransAlta Declares Dividends

Oct 30, 2017

CALGARY, Alberta (October 30, 2017) – The Board of Directors of TransAlta Corporation (TSX: TA; NYSE: TAC) today declared a quarterly dividend of $0.04 per common share payable on January 1, 2018 to shareholders of record at the close of business on December 1, 2017.

The Board of Directors of TransAlta Corporation also declared a quarterly dividend of $0.16931 per share on TransAlta’s issued and outstanding 2.709% Cumulative Redeemable Rate Reset First Preferred Shares, Series A, payable on December 31, 2017 to shareholders of record at the close of business on December 1, 2017 for the period from and including September 30, 2017 to but excluding December 31, 2017.

The Board of Directors of TransAlta Corporation also declared a quarterly dividend of $0.17467 per share at the Quarterly Floating Dividend Rate of 2.772% on TransAlta’s issued and outstanding Cumulative Redeemable Floating Rate First Preferred Shares, Series B, payable on December 31, 2017 to shareholders of record at the close of business on December 1, 2017 for the period from and including September 30, 2017 to but excluding December 31, 2017. Please note the Quarterly Floating Rate will be reset every quarter.

The Board of Directors of TransAlta Corporation also declared a quarterly dividend of $0.25169 per share on TransAlta’s issued and outstanding 4.027% Cumulative Redeemable Rate Reset First Preferred Shares, Series C, payable on December 31, 2017 to shareholders of record at the close of business on December 1, 2017 for the period from and including September 30, 2017 to but excluding December 31, 2017.

The Board of Directors of TransAlta Corporation also declared a quarterly dividend of $0.32463 per share on TransAlta’s issued and outstanding 5.194% Cumulative Redeemable Rate Reset First Preferred Shares, Series E, payable on December 31, 2017 to shareholders of record at the close of business on December 1, 2017 for the period from and including September 30, 2017 to but excluding December 31, 2017.

The Board of Directors of TransAlta Corporation also declared a quarterly dividend of $0.33125 per share on TransAlta’s issued and outstanding 5.30% Cumulative Redeemable Rate Reset First Preferred Shares, Series G, payable on December 31, 2017 to shareholders of record at the close of business on December 1, 2017 for the period from and including September 30, 2017 to but excluding December 31, 2017.

All currency is expressed in Canadian dollars except where noted.

About TransAlta Corporation:

TransAlta Corporation (“TransAlta”) is a power generation and wholesale marketing company focused on creating long-term shareholder value. TransAlta maintains a low-to-moderate risk profile by operating a highly contracted portfolio of assets in Canada, the United States and Australia. TransAlta’s focus is to efficiently operate wind, hydro, solar, natural gas and coal facilities in order to provide customers with a reliable, low-cost source of power. For over 100 years, TransAlta has been a responsible operator and a proud contributor to the communities in which it works and lives. TransAlta has been recognized on CDP’s Canadian Climate Disclosure Leadership Index (CDLI), which includes Canada’s top 20 leading companies reporting on climate change, and has been selected by Corporate Knights as one of Canada’s Top 50 Best Corporate Citizens and is recognized globally for its leadership on sustainability and corporate responsibility standards by FTSE4Good.

For more information about TransAlta, visit our web site at transalta.com, or follow us on Twitter @TransAlta.

For more information:

Investor Inquiries: Media Inquiries:
Sally Taylor Stacey Hatcher
Manager, Investor Relations Manager, Communications
Phone: 1-800-387-3598 in Canada and U.S. Phone: Toll-free media number: 1-855-255-9184
Email: investor_relations@transalta.com Email: ta_media_relations@transalta.com