BOE Report

TransAlta Corporation announces results of the annual and special meeting of shareholders and election of all directors

CALGARY, AB – TransAlta Corporation (TSX: TA) (NYSE: TAC) (“TransAlta” or the “Company”) held its Annual and Special Meeting of Shareholders (“the Meeting”) on April 28, 2022.  The total number of common shares represented by shareholders at the Meeting and by proxy was 189,079,207, representing 69.60 per cent of the Company’s outstanding common shares.

The following resolutions were considered by shareholders:

1.            Election of Directors

The twelve director nominees proposed by management were elected.  The votes by ballot were received as follows:

Nominee

Votes For

Per cent

Withheld

Per cent

Rona H. Ambrose

180,301,403

96.83%

5,896,534

3.17%

John P. Dielwart

185,581,642

99.67%

616,295

0.33%

Alan J. Fohrer

185,205,109

99.47%

992,828

0.53%

Laura W. Folse

185,582,150

99.67%

615,786

0.33%

Harry A. Goldgut

185,689,018

99.73%

508,919

0.27%

John H. Kousinioris

185,681,285

99.72%

516,652

0.28%

Thomas M. O’Flynn

185,248,610

99.49%

949,327

0.51%

Beverlee F. Park

185,159,327

99.44%

1,038,609

0.56%

Bryan D. Pinney

182,248,274

97.88%

3,949,663

2.12%

James Reid

185,693,600

99.73%

504,337

0.27%

Sandra R. Sharman

184,134,222

98.89%

2,063,714

1.11%

Sarah A. Slusser

185,641,558

99.70%

556,378

0.30%
2.            Appointment of Auditors

The appointment of Ernst & Young LLP to serve as the auditors for 2022 was approved.  The votes by ballot were received as follows:

Votes For

Per cent

Withheld

Per cent

181,978,731

96.24%

7,100,475

3.76%
3.            Advisory Vote on Executive Compensation (also known as “say-on-pay”)

The advisory vote on the Company’s approach to executive compensation or say-on-pay was approved.  The votes by ballot were received as follows:

Votes For

Per cent

Votes Against

Per cent

163,637,782

87.88%

22,560,153

12.12%
4.            Approval of the Corporation’s Amended and Restated Shareholder Rights Plan

The resolution approving the Corporation’s Amended and Restated Shareholder Rights Plan was approved.  The votes by ballot were received as follows:

Votes For

Per cent

Votes Against

Per cent

178,999,356

96.13%

7,198,580

3.87%
About TransAlta:

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 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.

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