<SEC-DOCUMENT>0001137171-14-000047.txt : 20140226
<SEC-HEADER>0001137171-14-000047.hdr.sgml : 20140226
<ACCEPTANCE-DATETIME>20140226172328
ACCESSION NUMBER:		0001137171-14-000047
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140226
FILED AS OF DATE:		20140226
DATE AS OF CHANGE:		20140226

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRANSALTA CORP
		CENTRAL INDEX KEY:			0001144800
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15214
		FILM NUMBER:		14645838

	BUSINESS ADDRESS:	
		STREET 1:		110 12TH AVE SW BOX 1900 STATION M
		STREET 2:		CALGARY ALBERTA T2P 2MI
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P2M1
		BUSINESS PHONE:		403-267-4724

	MAIL ADDRESS:	
		STREET 1:		110-12TH AVENUE SW
		CITY:			CALGARY ALBERTA CANADA
		STATE:			A0
		ZIP:			T2P2M1
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>transalta6k02262014.htm
<DESCRIPTION>TRANSALTA CORPORATION - 6-K
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<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 24pt">For the month of February, 2014</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TRANSALTA CORPORATION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Translation of registrant&rsquo;s name into
English)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>110-12<SUP>th</SUP> Avenue S.W., Box 1900,
Station &ldquo;M&rdquo;, Calgary, Alberta, T2P 2M1</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Indicate by check mark whether the registrant files or will
file annual reports under cover Form 20-F or Form 40-F.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Form 20-F____ &#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form 40-F <U>X </U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____</P>


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<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in">The document listed below as Exhibit 99.1
to this Form 6-K is a copy of the Registrant&rsquo;s material change report of February 26, 2014 regarding the sale of its 50 per
cent interest in CE Generation, Blackrock development and Wailuku, and the resizing of its dividend.<FONT STYLE="color: black">
This material change report is hereby furnished and not filed and will not be incorporated by reference into any registration statements
filed by TransAlta Corporation under the Securities Act of 1933, as amended. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="width: 85%; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><A HREF="mcr.htm">Material change report dated February 26, 2014</A></FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman Bold,serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>Signatures</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt 3in">TRANSALTA CORPORATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt 3in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 43%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Dated: February 26, 2014</FONT></TD>
    <TD STYLE="width: 8%; text-align: center; vertical-align: middle"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;By:</FONT></TD>
    <TD STYLE="width: 25%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Maryse St.-Laurent&#9;</FONT></TD>
    <TD STYLE="width: 24%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: <FONT STYLE="color: black">Maryse St.-Laurent</FONT>&#9;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: &#9; <I>Vice-President and Corporate Secretary</I></FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&#9;<U></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&#9;<BR>
&#9;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">EXHIBIT INDEX</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><U>EXHIBIT NUMBER</U></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="width: 85%; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><A HREF="mcr.htm">Material change report dated February 26, 2014</A> </FONT></TD></TR>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>mcr.htm
<DESCRIPTION>MATERIAL CHANGE REPORT DATED FEBRUARY 26, 2014
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<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>Form 51-102F3</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>MATERIAL CHANGE REPORT</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Item 1.</B></FONT></TD>
    <TD STYLE="width: 85%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Name and Address of Company</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">TransAlta Corporation</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">110 &ndash; 12<SUP>th</SUP> Avenue SW</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">Calgary, Alberta T2P 2M1</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Item 2.</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Date of Material Change</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">February 20, 2014</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Item 3.</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>News Release</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">Press release disseminated via Marketwire on February 20,
        2014</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Item 4.</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Summary of Material Change</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">On February 20, 2014, TransAlta Corporation
        (&ldquo;TransAlta&rdquo; or the &ldquo;Corporation&rdquo;) announced two significant initiatives: the sale of its 50 per cent interest
        in CE Generation, Blackrock development and Wailuku to its partner MidAmerican Renewables for USD$193.5 million and the resizing
        of its dividend to an annualized amount of $0.72 per common share.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Item 5.</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Full Description of Material Change</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 85%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">On February 20, 2014, TransAlta announced
        two significant initiatives: the sale of its 50 per cent interest in CE Generation, Blackrock development and Wailuku to its partner
        in these holdings, MidAmerican Renewables, for USD$193.5 million, and the resizing of its dividend to an annualized amount of $0.72
        per common share. These initiatives have been undertaken to enhance the Corporation&rsquo;s financial strength to grow, to provide
        a solid and sustainable dividend, and to ensure a strong balance sheet throughout the commodity cycle. Specifically, these two
        initiatives are expected to deliver a number of key benefits to security holders, including:</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 1.9pt 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 11pt Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        </FONT><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Increasing cash flow per share </FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 1.9pt 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 11pt Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        </FONT><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Providing an attractive, sustainable dividend </FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 1.9pt 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 11pt Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        </FONT><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Improving the Corporation&rsquo;s credit metrics and balance sheet
        </FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 1.9pt 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 11pt Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        </FONT><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Generating an additional $120 million per year in free cash flow </FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 11pt Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        </FONT><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Creating a stronger financial base for growing TransAlta and maintaining
        a strong balance sheet throughout the commodity cycle </FONT></P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.05in">&nbsp;</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.05in; text-align: justify">This report contains forward-looking
        statements, including statements regarding the business and anticipated financial performance of TransAlta. In particular, this
        report contains forward-looking statements pertaining to the sale of the Corporation&rsquo;s interest in CE Generation, Blackrock
        development and Wailuku to MidAmerican Renewables as well as the expected impact of the sale and the resizing of its dividend on
        the Corporation&rsquo;s expectations for its free cash flow. These statements are based on TransAlta&rsquo;s belief and assumptions
        based on information available at the time the assumptions were made. These statements are subject to a number of risks and uncertainties
        that may cause actual results to differ materially from those contemplated by the forward-looking statements. Some of the factors
        that could cause such differences include: operational risks involving our facilities, market prices where we operate, unplanned
        outages at generating facilities and the capital investments required, equipment failure and our ability to carry out repairs in
        a cost-effective manner or timely manner, the effects of weather, disruptions in the source of fuels, water or wind required to
        operate our facilities, energy trading risks, failure to obtain necessary regulatory approvals in a timely fashion, legislative
        or regulatory developments, competition, global capital markets activity, changes in prevailing interest rates, currency exchange
        rates, inflation levels, commodity prices, general economic conditions in geographic areas where TransAlta operates and successful
        completion of the conditions applicable to the sale of CE Generation, Blackrock development and Wailuku.</P></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Item 6.</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Reliance on Section 7.1(2) of National Instrument 51-102</B></FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Not applicable.</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Item 7.</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Omitted Information</B></FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Not applicable.</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Item 8.</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Executive Officer</B></FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">The name and business number of the executive officer who
        is knowledgeable about the material change and this report is:</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">Maryse St.-Laurent</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">Vice-President and Corporate Secretary</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">Telephone: (403) 267-7110</P></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Item 9.</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Date of Report</B></FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">February 26, 2014</FONT></TD></TR>
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