 CALGARY, AB, May 3, 2021 PRNewswire - The Board of Directors of TransAlta Corporation TSX: TA NYSE: TAC declared a quarterly dividend of 0.0450 per common share payable on July 1, 2021 to shareholders of record at the close of business on June 1, 2021. 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, 2021 up to but excluding June 30, 2021: Preferred Shares TSX Stock Symbol Dividend Rate Dividend Per Share Record Date Payment Date Series A TA.PR.D 2.877 0.17981 June 1, 2021 June 30, 2021 Series B TA.PR.E 2.103 0.13108 June 1, 2021 June 30, 2021 Series C TA.PR.F 4.027 0.25169 June 1, 2021 June 30, 2021 Series E TA.PR.H 5.194 0.32463 June 1, 2021 June 30, 2021 Series G TA.PR.J 4.988 0.31175 June 1, 2021 June 30, 2021 Please note the quarterly floating rate on the Series B Preferred Shares will be reset every quarter. 