TransAlta Declares Dividends

Apr 20, 2020

CALGARY, Alberta (April 20, 2020) – The Board of Directors of TransAlta Corporation (TSX: TA) (NYSE: TAC) today declared a quarterly dividend of $0.0425 per common share payable on July 1, 2020 to shareholders of record at the close of business on June 1, 2020.

The Board of Directors also declared the following quarterly dividend on its Cumulative Redeemable Rate Reset First Preferred Shares for the period starting from and including March 31, 2020 up to but excluding June 30, 2020:

Preferred Shares

TSX Stock Symbol

Dividend Rate

Dividend Per Share

Record Date

Payment Date

Series A

TA.PR.D

2.709%

$0.16931

June 1, 2020

June 30, 2020

  Series B*

TA.PR.E

3.668%

$0.22800

June 1, 2020

June 30, 2020

Series C

TA.PR.F

4.027%

$0.25169

June 1, 2020

June 30, 2020

Series E

TA.PR.H

5.194%

$0.32463

June 1, 2020

June 30, 2020

Series G

TA.PR.J

4.988%

$0.31175

June 1, 2020

June 30, 2020

*Please note the quarterly floating rate on the Series B Preferred Shares will be reset every quarter.

All currency is expressed in Canadian dollars except where noted. When the dividend payment date falls on a weekend or holiday, the payment is made the following business day.

About TransAlta Corporation:

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 hydro-electric power. For over 100 years, TransAlta has been a responsible operator and a proud community-member where its employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and  has been recognized by CDP (formerly Climate Disclosure Project) as an industry leader on Climate Change Management. TransAlta is proud to have achieved the Silver level PAR (Progressive Aboriginal Relations) designation by the Canadian Council for Aboriginal Business.

For more information about TransAlta, visit its web site at transalta.com.

For more information:

Investor Inquiries:

Media Inquiries:

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