<SEC-DOCUMENT>0001279569-22-000282.txt : 20220224
<SEC-HEADER>0001279569-22-000282.hdr.sgml : 20220224
<ACCEPTANCE-DATETIME>20220224083547
ACCESSION NUMBER:		0001279569-22-000282
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220224
FILED AS OF DATE:		20220224
DATE AS OF CHANGE:		20220224

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:		22666661

	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>
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<DESCRIPTION>FORM 6-K
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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 10pt 0 0; text-align: center">UNITED STATES</P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><FONT STYLE="font-size: 14pt">SECURITIES
AND EXCHANGE COMMISSION<BR>
</FONT><FONT STYLE="font-size: 12pt">WASHINGTON, D.C. 20549 </FONT></P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 10pt 0 6pt; text-align: center">FORM 6-K</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center">REPORT OF FOREIGN PRIVATE ISSUER<BR>
PURSUANT TO RULE&nbsp;13a-16 OR 15d-16<BR>
UNDER THE SECURITIES EXCHANGE ACT OF 1934</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center"><B>For the month of February, 2022<BR>
Commission File Number 001-15214</B></P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 10pt 0 6pt; text-align: center"><FONT STYLE="font-size: 20pt">TRANSALTA
CORPORATION<BR>
</FONT><FONT STYLE="font-size: 10pt; font-weight: normal">(Translation of registrant's name into English)</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center"><B>110-12th Avenue S.W., Box 1900, Station &ldquo;M&rdquo;,
Calgary, Alberta, Canada, T2P 2M1</B><BR>
(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center"><FONT STYLE="font-weight: normal">Form&nbsp;20-F&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT>
&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&nbsp;40-F&nbsp;<FONT STYLE="font-family: Wingdings">&#254;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(1). _____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(7). _____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify"></P>

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

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

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

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

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

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  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>TRANSALTA CORPORATION</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 87%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Todd Stack</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name: Todd Stack</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title: Chief Financial Officer</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0">Date: February 24, 2022</P>

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

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    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 1pt solid"><B>Exhibit Number</B></P></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 81%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 1pt solid"><B>Description of Document</B></P></TD></TR>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="ex991.htm">99.1</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="ex991.htm">&ldquo;TransAlta Reports Fourth Quarter and Full Year 2021 Results&rdquo;</A></TD></TR>
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<TYPE>EX-99.1
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<DESCRIPTION>NEWS RELEASE DATED FEBRUARY 24, 2022
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<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;</B></FONT></P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 24pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">TransAlta Reports Fourth Quarter and Full Year
2021 Results</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">CALGARY, AB, Feb. 24, 2022 /CNW/ -</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Fourth Quarter 2021 Financial Highlights</B></P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Adjusted EBITDA<SUP>(1),(2)</SUP> of $270 million, an increase
of 15% over the same period in 2020</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Free Cash Flow (&quot;FCF&quot;)<SUP>(1) </SUP>of $106 million,
or $0.39 per share, an increase of 105% on a per-share basis from the same period in 2020</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Loss before income taxes of $32 million, an improvement of $136
million from the same period in 2020</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Cash flow from operating activities of $54 million, a decrease
of 51% from the same period in 2020</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Full Year 2021 Financial Highlights</B></P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Adjusted EBITDA<SUP>(1),(2)</SUP> of $1.263 billion, an increase
of 36% from the same period in 2020</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">FCF<SUP>(1) </SUP>of $562 million, or $2.07 per share, an increase
of 59% on a per-share basis from the same period in 2020</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Loss before income taxes of $380 million, an increase of $77 million
from the same period in 2020</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Cash flow from operating activities of $1.0 billion, an increase
of 43% from the same period in 2020</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Other Business and ESG Highlights</B></P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Announced 600 MW of renewables growth projects, securing 30% of
our 5-year 2 GW growth target</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Achieved full phase-out of coal in Canada, with completed coal-to-gas
conversions at Sundance Unit 6 and Keephills Units 2 and 3, and ceased mining activities at the Highvale mine</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Reduced annual carbon emissions by 3.9 million tonnes, a 24% reduction
compared to 2020</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Acquired a fully contracted 122 MW portfolio of solar assets in
North Carolina</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Achieved commercial operations at the 206 MW Windrise wind facility</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Joined the Powering Past Coal Alliance, a global organization
of governmental and private sector organizations working to take action on reducing greenhouse gas emissions from coal-fired electricity
generation and accelerating the energy transition</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Enhanced and accelerated our near term GHG emissions target to
a 75% reduction over 2015 levels</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Reduced our operational waste by 55% compared to 2020 levels</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Reduced our SO<SUB>2</SUB> and NO<SUB>x</SUB> emissions by 42%
and 29%, respectively, compared to 2020 levels</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Increased our common share dividend by 11% to an annualized dividend
of 20 cents per share</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">TransAlta Corporation (&quot;TransAlta&quot; or the
&quot;Company&quot;) (TSX: TA) (NYSE: TAC) today reported its financial results for the fourth quarter and full year ended Dec. 31, 2021.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&quot;2021 was a record year for TransAlta. We achieved
outstanding financial results, with exceptional performance from our Alberta Hydro and Gas fleets, as well as our Energy Marketing business.
On the growth front, we secured 600 MW of renewables growth projects, a great first year for our Clean Electricity Growth Plan, with growth
in each of our core geographies. We also reached an important milestone with the completion of the final coal-to-gas conversion, and are
now fully off coal in Canada, &quot; said John Kousinioris, President and Chief Executive Officer.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Set out below are additional highlights from the quarter
on TransAlta's business activities, including the Company's progress on advancing its Clean Electricity Growth Plan as well as details
regarding the Company's financial performance and liquidity.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Key Business Developments </B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Announced 300 MW White Rock Wind Project and Fully
Executed Corporate PPAs<BR>
</B>On Dec. 22, 2021, TransAlta executed two long-term Power Purchase Agreements (&quot;PPAs&quot;) with&nbsp; a new customer at its 300
MW White Rock East and White Rock West Wind Power Projects located in Caddo County, Oklahoma. The PPA is with a new customer with an AA
credit rating from S&amp;P Global Ratings. The White Rock Wind Projects will consist of 51 Vestas turbines.&nbsp; Construction is expected
to begin in late 2022 with a target commercial operation date in the second half of 2023. TransAlta will construct, operate and own the
facility. Total construction capital is estimated at approximately US$460 million to US$470 million and is expected to be financed with
a combination of existing liquidity and tax equity financing. Over 90 per cent of the project costs are captured under executed fixed
price turbine supply agreements and fixed price engineering, procurement, and construction agreements.&nbsp; The project is expected to
generate average annual EBITDA<SUP>(1)</SUP> of approximately US$42 million to US$46 million including production tax credits.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Acquired 122MW North Carolina Solar Portfolio<BR>
</B>On Nov. 5, 2021, the Company closed its previously announced acquisition of a 122 MW portfolio of 20 solar photovoltaic sites located
in North Carolina (collectively, &quot;North Carolina Solar&quot;) for approximately US$99 million (including working capital adjustments)
and the assumption of existing tax equity obligations. The acquisition was funded using existing liquidity.&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">At the closing of the acquisition, TransAlta Renewables
Inc. acquired a 100 per cent economic interest in North Carolina Solar from a wholly owned subsidiary of TransAlta through a tracking
share structure for aggregate consideration of approximately&nbsp; US$102 million.&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The sites are all operational and were commissioned
between November 2019 and May 2021. The facilities are secured by long-term PPAs with Duke Energy, which have an average remaining term
of 12 years. Under the PPAs, Duke Energy receives the renewable electricity, capacity, and environmental attributes from each facility.
North Carolina Solar is expected to generate an average annual EBITDA<SUP>(1)</SUP> of approximately US$9 million.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Construction Commenced on Northern Goldfields Solar
and Battery Storage Project<BR>
</B>On July 29, 2021, TransAlta Renewables announced that Southern Cross Energy (&quot;SCE&quot;), a subsidiary of the Company and an
entity in which TransAlta Renewables owns an indirect economic interest, had reached an agreement to provide BHP Nickel West Pty Ltd.
(&quot;BHP&quot;) with renewable electricity to its Goldfields-based operations through the construction of the Northern Goldfields Solar
Project. The project consists of the 27 MW Mount Keith Solar Farm, 11 MW Leinster Solar Farm, 10 MW/5MWh Leinster Battery Energy Storage
System and interconnecting transmission infrastructure, all of which will be integrated into our existing 169 MW Southern Cross Energy
North remote network in Western Australia. Construction activities began in the first quarter of 2022, with target completion of the projects
expected in the second half of 2022. Total construction capital for the project is estimated at approximately AU$69 million to AU$73 million.
The project is expected to generate average annual EBITDA<SUP>(1)</SUP> of approximately AU$9 million to AU$10 million.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Executed Long-term PPA with Pembina and Commenced
Construction on Garden Plain Wind<BR>
</B>On May 3, 2021, the Company announced that it entered into a long-term PPA with Pembina Pipeline Corporation (&quot;Pembina&quot;)
pursuant to which Pembina has contracted for the renewable electricity and environmental attributes for 100 MW of the 130 MW Garden Plain
project. Garden Plain will be located approximately 30 km north of Hanna, Alberta. Construction activities started in the fall of 2021
with target completion of the project expected in the second half of 2022. Total construction capital for the project is estimated at
approximately $190 million to $200 million.&nbsp; The project is expected to contribute between $14 million and $18 million of average
annual EBITDA<SUP>(1)</SUP>.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Alberta Electricity Portfolio<BR>
</B>On Dec. 31, 2020, the Alberta Power Purchase Arrangements (&quot;Alberta PPAs&quot;) expired and, effective Jan. 1, 2021, the applicable
facilities began operating on a fully merchant basis in the Alberta market, forming a core part of the Alberta electricity portfolio optimization
activities.&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The Alberta electricity portfolio generated gross
margin of $864 million, an increase of $405 million compared to the same period in 2020. This performance was driven by strengthened power
prices in the province, optimization of production during periods of favourable pricing, partially offset by higher natural gas and carbon
pricing and higher transmission costs. Optimization of facilities is driven by the diversity in fuel types, which enables portfolio management
and allows for maximization of operating margins. A portion of the baseload generation in the portfolio is hedged to provide cash flow
certainty.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Alberta's annual demand for electricity expanded by
approximately 3% from 2020 to 2021.&nbsp; Electricity demand was supported by the economic recovery following the impacts of the COVID-19
pandemic and due to stronger market conditions for energy commodities. The average pool price increased from $47/MWh in 2020 to $102/MWh
in 2021. Pool prices were higher in each quarter compared to 2020, generally as a result of competition among generators, higher demand
in the province,&nbsp; tighter supply conditions due to higher planned outages, and higher natural gas and carbon prices. In addition,
in 2021, Alberta experienced very strong weather-driven demand in February, June, July and December.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">For the year ended Dec. 31, 2021, the Alberta Electricity
Portfolio achieved a realized power price of $109 per MWh, compared to the Alberta spot pool price which averaged $102 per MWh. The Company
was able to benefit during higher-priced periods by optimizing dispatch of each of the Alberta Hydro, Gas and Energy Transition fleet,
ensuring high availability during peak demand, while hedged positions at Alberta Gas and Energy Transition minimized unfavourable market
pricing during lower-priced hours in the quarter.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Hedged production for the fiscal year 2022 is 6,278
GWh at an average price of $75 per MWh.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Kent Hills Wind Facility Outage and Rehabilitation
of Foundations<BR>
</B>On Sept. 27, 2021, the Company's subsidiary, Kent Hills Wind LP, experienced a single tower failure at its 167 MW Kent Hills wind
facility in Kent Hills, New Brunswick. Following extensive independent engineering assessments, the root cause failure analysis indicated
that deficiencies in the original design of the foundations at Kent Hills 1 and 2 had led to crack propagation within the foundations
and that all 50 turbine foundations must be replaced. Foundation replacements will require expenditures of approximately $75 million to
$100 million. The remediation plan is expected to commence mid-year and be implemented though 2022 and 2023.&nbsp; The plan is to return
turbines to service as each foundation is completed.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">TransAlta and New Brunswick Power Corporation continue
discussions to enable the safe return to service of the facilities.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The Company has also provided notice to BNY Trust
Company of Canada (the &quot;Trustee&quot;) that events of default may have occurred under the trust indenture governing the terms of
the non-recourse project bonds (the &quot;Bonds&quot;). The Company is in discussions with the Trustee and holders of the Bonds to negotiate
required waivers and amendments while the Company works to remedy the matters described in the notice. Although the Company expects that
it will reach agreement with the Trustee and holders of the Bonds with respect to terms of an acceptable waiver and amendment, there can
be no assurance that the Company will receive such waivers and amendments.&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Achieved Phase-Out of Coal in Canada<BR>
</B>During the year, the Company completed the full conversion of Keephills Unit 2, Keephills Unit 3 and Sundance Unit 6 from thermal
coal to natural gas. Keephills Unit 2, Keephills Unit 3 and Sundance Unit 6 retained the same generator nameplate capacity of 395 MW,
463 MW and 401 MW, respectively.&nbsp; Conversion to gas reduces our CO<SUB>2</SUB> emissions intensity by more than half, contributing
to the 3.9 million tonnes of annual emissions reductions achieved in 2021 and advancing us toward our target of 75 per cent emissions
reduction over 2015 levels by 2026. This also resulted in the end of mining activities at the Highvale mine and, effective Dec. 31, 2021,
the mine entered its reclamation phase. As of Dec. 31, 2021, the Company has fully transitioned to natural gas in Canada.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Fortescue Metals Group Ltd. Dispute at South Hedland
Power Station<BR>
</B>The Company has been engaged in a dispute with Fortescue Metals Group Ltd. (&quot;FMG&quot;) as a result of FMG's purported termination
of the South Hedland PPA. On May 2, 2021, the Company entered into a conditional settlement with FMG.&nbsp; The settlement was concluded
and the actions were formally dismissed in the Supreme Court of Western Australia on Dec. 7, 2021. The settlement amount has been recorded
as revenue in the fourth quarter of 2021, while all other balances previously provided for have been reversed. The settlement has resulted
in FMG continuing as a customer of the South Hedland facility.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Liquidity and Financial Position<BR>
</B>The Company continues to maintain a strong financial position in part due to long-term contracts and hedged positions. At the end
of the fourth quarter, TransAlta had access to $2.2 billion in liquidity, including $947 million in cash and cash equivalents.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Fourth Quarter and Year Ended 2021 Highlights</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3 Months Ended</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Year Ended</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B><I>&nbsp;$ millions, unless otherwise stated</I></B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Dec. 31, 2021</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Dec. 31, 2020</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Dec. 31, 2021</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Dec. 31, 2020</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted availability (%)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>83.8%</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">87.1%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>86.6%</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">90.7%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Production (GWh)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>5,823</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7,704</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>22,105</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">24,980</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Revenues</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>610</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">544</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2,721</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2,101</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted EBITDA<SUP>(1),(2)</SUP></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>270</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">234</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,263</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">927</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Loss before income taxes</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(32)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(168)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(380)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(303)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net loss attributable to common shareholders</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(78)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(167)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(576)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(336)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Cash flow from operating activities</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>54</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">110</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,001</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">702</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">FFO<SUP>(1)</SUP></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>213</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">161</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>971</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">685</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">FCF<SUP>(1)</SUP></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>106</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">52</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>562</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">358</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net loss per share attributable to common </FONT><FONT STYLE="font-size: 8pt"><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">shareholders, basic and diluted</FONT></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(0.29)</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.61)</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(2.13)</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(1.22)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">FFO per share<SUP>(1),(5)</SUP></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>0.79</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.59</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3.58</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.49</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">FCF per share<SUP>(1),(5)</SUP></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>0.39</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.19</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2.07</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.30</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Dividends declared per common share<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>0.10</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.09</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>0.19</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.22</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Dividends declared per preferred share<SUP>(4)</SUP></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>0.25</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.50</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1.02</B></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.27</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><BR>
<B>Fourth Quarter Financial Results Summary<BR>
</B>Adjusted EBITDA<SUP>(1),(2) </SUP>for the three months ended Dec. 31, 2021, was $270 million, an increase of $36 million, or 15 per
cent compared to the same period in 2020, largely due to higher adjusted EBITDA in our Hydro and Gas segments, which was driven by higher
realized prices in the Alberta market, partially offset by lower production at Centralia Unit 2 within our Energy Transition segment due
to a transformer failure that has now been resolved and an unplanned outage at the Kent Hills 1 and 2 wind facilities.&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Net loss attributable to common shareholders for the
three months ended Dec. 31, 2021, was $78 million compared to a net loss of $167 million in the same period of 2020, an improvement of
$89 million. The net loss in 2021 was favourably impacted by lower depreciation and amortization expense related to asset retirements
and impairments in our Gas and Energy Transition segments and higher adjusted EBITDA.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Cash flow from operating activities for the three
months ended Dec. 31, 2021, was $54 million, a decrease of $56 million compared with 2020, primarily due to changes in non-cash working
capital.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">FCF<SUP>(1)</SUP> for the three months ended Dec.
31, 2021, was $106 million compared to $52 million for 2020, as a result of higher adjusted EBITDA due to higher realized prices in Alberta,
settlement of provisions and lower sustaining capital expenditures, partially offset by higher distributions paid to subsidiaries' non-controlling
interests.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Full Year 2021 Financial Results Summary<BR>
</B>Adjusted EBITDA<SUP>(1),(2) </SUP>for the full year ended Dec. 31, 2021, was $1.263 billion, an increase of $336 million compared
to 2020. Adjusted EBITDA increased largely due to higher gross margin, driven by higher realized prices and dispatch optimization in the
Alberta market from our merchant facilities residing in the Alberta Electricity Portfolio across the Hydro, Wind and Solar, Gas, and Energy
Transition segments. In addition, the Energy Marketing segment also increased adjusted EBITDA due to favourable short-term trading of
both physical and financial power and natural gas products across North American markets. This increase was partially offset by&nbsp;
the retirement of Centralia Unit 1, unplanned outages at Centralia Unit 2 in the Energy Transition segment and the extended site outage
at the Kent Hills 1 and 2 wind facilities.&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Loss before income taxes for the full year ended Dec.
31, 2021, was $380 million, compared to $303 million for 2020, an increase of $77 million. Net loss attributable to common shareholders
for 2021 was $576 million compared to a loss of $336 million in 2020. The higher loss before income taxes and the higher net loss attributable
to common shareholders in 2021 was largely driven by higher asset impairments related to decisions to shut down the Highvale mine, suspend
the Sundance 5 repowering project and planned retirements of Sundance Unit 4 and Keephills Unit 1. These higher asset impairments were
partially offset by higher adjusted EBITDA largely resulting from the strong performance of the Alberta Electricity Portfolio across all
of our fuel segments, higher gains on sale of assets due to the sale of equipment in the Energy Transition segment,&nbsp; the sale of
the Pioneer Pipeline in the Gas segment, and lower depreciation. The higher net loss attributable to common shareholders was also impacted
by higher income tax expense in 2021 due to the higher earnings from the Energy Marketing segment and the Alberta Electricity Portfolio.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Cash flow from operating activities for the full year
ended Dec. 31, 2021, was $1,001 million, compared to $702 million for 2020, an&nbsp;increase of $299 million, primarily due to higher
revenues being realized in Alberta on the merchant assets and changes in non-cash working capital, partially offset by higher fuel and
purchased power and OM&amp;A costs as the Company transitioned off coal.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">FCF<SUP>(1)</SUP> for the full year ended Dec. 31,
2021, was $562 million, an increase of $204 million compared to $358 million for 2020, driven primarily by higher adjusted EBITDA, partially
offset by an increase in sustaining capital spending related to higher planned maintenance and facility turnarounds, settlement of provisions
and higher distributions paid to subsidiaries' non-controlling interests.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 80%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
    <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Segmented Results</B></P>
    <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0"><B>For the year ended Dec. 31</B></P>
    <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0"><B><I>($ millions)</I></B></P></TD>
    <TD STYLE="border-top: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Adjusted EBITDA<SUP>(1),(2)</SUP></B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2020</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Hydro</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>322</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">105</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Wind and Solar</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>262</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">248</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Gas</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>494</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">367</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Energy Transition</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>133</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">175</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Energy Marketing </FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>137</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">113</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Corporate</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(85)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(81)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,263</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">927</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><U>Hydro:</U>&nbsp;</P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Adjusted EBITDA<SUP>(1),(2)</SUP> for the year ended Dec. 31,
2021, increased by $217 million compared to 2020. Effective Jan. 1, 2021, with the expiration of the Alberta PPA for our Alberta Hydro
Assets, these facilities began operating on a merchant basis in the Alberta power market. This eliminated the net payment obligations
under the Alberta PPA. With strong availability during periods of market volatility, the Company captured higher energy and ancillary
service revenue, partially offset by increased costs related to portfolio management services, dam safety staffing, dredging and station
services.</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><U>Wind and Solar:</U></P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Adjusted EBITDA<SUP>(1),(2)</SUP> for the year ended Dec. 31,
2021, increased by $14 million compared to 2020, primarily due to higher merchant pricing in Alberta, a full year of operations from the
Skookumchuck wind facility and the WindCharger battery storage facility as well as incremental value from the newly commissioned or acquired
assets in 2021: consisting of the Windrise wind facility and the North Carolina Solar facility. Also, fuel and purchased power costs were
lower in 2021 due to the AESO transmission line loss recorded in 2020. Adjusted EBITDA was negatively impacted by lower wind resources
in Eastern Canada and the US, the unplanned outage at the Kent Hills 1 and 2 wind facilities and the weakening US dollar relative to the
Canadian dollar</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><U>Gas:</U>&nbsp;</P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Adjusted EBITDA<SUP>(1),(2)</SUP> for the year ended Dec. 31,
2021, increased by $127 million compared to 2020, primarily due to higher merchant pricing in the Alberta market, the South Hedland PPA
contract settlement and incremental production from a full year of operations at our Ada cogeneration facility, partially offset by an
increase in fuel, unplanned short-term steam supply outages at our Sarnia cogeneration facility, higher OM&amp;A costs related to the
BHP pass-through projects and legal fees related to the South Hedland PPA contract settlement.&nbsp;&nbsp;</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><U>Energy Transition:</U>&nbsp;</P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Adjusted EBITDA<SUP>(1),(2)</SUP> for the year ended Dec. 31,
2021, decreased by $42 million compared to 2020, primarily due the planned retirement of Centralia Unit 1, higher fuel and purchased power
due to unplanned outages at Centralia Unit 2, higher carbon compliance costs for the Alberta assets primarily due to an increase in carbon
prices and the weakening of the US dollar relative to the Canadian dollar throughout the year, partially offset by dispatch optimization
of the Alberta assets and lower OM&amp;A as a result the planned retirement of Centralia Unit 1.</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><U>Energy Marketing:</U>&nbsp;</P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Adjusted EBITDA<SUP>(1),(2)</SUP> for the year ended Dec. 31,
2021, increased by $24 million compared to 2020 results. Results were better primarily due to favourable short-term trading of both physical
and financial power and natural gas products across all North American markets. This was partially offset by OM&amp;A increases due to
higher incentives related to stronger performance. The Energy Marketing team was able to capitalize on short-term market volatility in
the markets in which we trade without materially changing the risk profile of the business unit.</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><U>Corporate:</U>&nbsp;</P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Our Corporate overhead costs for the year ended Dec. 31, 2021,
increased by $4 million compared to 2020, primarily due to higher incentive payments, higher employee costs, higher insurance costs, and
higher legal fees for settlement of outstanding legal issues, partially offset by the receipt of CEWS funding and realized gains from
the total return swap. A portion of the settlement costs of our employee share-based payment plans is hedged by entering into total return
swaps, which are cash settled every quarter. Excluding the impact of the total return swap, staffing costs increased due to additional
headcount to support growth initiatives. As previously committed, the CEWS funding is being used to support incremental employment within
the Company.</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Conference call<BR>
</B>TransAlta will hold a conference call and webcast at 9:00 a.m. MST (11:00 a.m. EST) today, February 24, 2022, to discuss our fourth
quarter and full year 2021 results. The call will begin with a short address by John Kousinioris, President and Chief Executive Officer
and Todd Stack, EVP Finance and Chief Financial Officer,<B>&nbsp;</B>followed by a question and answer period for investment analysts
and investors. A question and answer period for the media will immediately follow.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B><U>Dial-in numbers - Fourth Quarter and Full Year
2021 Results:<BR>
</U>Toll-free North American participants call: 1-888-664-6392</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">A link to the live webcast will be available on the
Investor Centre section of TransAlta's website at <U>http://www.transalta.com/investors/events-and-presentations . </U>If you are unable
to participate in the call, the instant replay is accessible at 1-888-390-0541 (Canada and USA toll free) with TransAlta pass code 983771
followed by the # sign. A transcript of the broadcast will be posted on TransAlta's website once it becomes available.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Notes</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>(1)</I></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">These items are not defined and have no standardized meaning under IFRS. Presenting these items from period to period provides management and investors with the ability to evaluate earnings trends more readily in comparison with prior periods' results. </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>(2)</I></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">In the fourth quarter of 2021, Comparable EBITDA was relabelled as adjusted EBITDA to align with industry standard terminology.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>(3)</I></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">No dividends were declared in first quarter of 2021 as the quarterly dividend related to the period covering the first quarter of 2021 was declared in December 2020.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>(4)</I></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Weighted average of the Series A, B, C, E, and G preferred share dividends declared. Dividends declared vary year over year due to timing of dividend declarations.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>(5)</I></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Funds from operations per share and free cash flow per share are calculated using the weighted average number of common shares outstanding during the period. The weighted average number of common shares outstanding at Dec. 31, 2021 was 271 million shares (2020 - 275 million shares). </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><BR>
<B>Non-IFRS financial measures and other specified
financial measures<BR>
</B>We use a number of financial measures to evaluate our performance and the performance of our business segments, including measures
and ratios that are presented on a non-IFRS basis, as described below.&nbsp; Unless otherwise indicated, all amounts are in Canadian dollars
and have been derived from our audited annual consolidated financial statements prepared in accordance with IFRS.&nbsp; We believe that
these non-IFRS amounts, measures and ratios, read together with our IFRS amounts, provide readers with a better understanding of how management
assesses results.&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Non-IFRS amounts, measures and ratios do not have
standardized meanings under IFRS.&nbsp; They are unlikely to be comparable to similar measures presented by other companies and should
not be viewed in isolation from, or as an alternative for, or more meaningful than our IFRS results.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>Adjusted EBITDA</I>&nbsp;<BR>
In the fourth quarter of 2021, comparable EBITDA was relabelled as adjusted EBITDA to align with industry standard terminology. Each business
segment assumes responsibility for its operating results measured to adjusted EBITDA. Adjusted EBITDA is an important metric for management
that represents our core business profitability. Interest, taxes, depreciation and amortization are not included, as differences in accounting
treatments may distort our core business results. In addition, certain reclassifications and adjustments are made to better assess results
excluding those items that may not be reflective of ongoing business performance.&nbsp; This presentation may facilitate the readers analysis
of trends.&nbsp; Adjusted EBITDA is a non-IFRS measure.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>Average Annual EBITDA<BR>
</I>Average annual EBITDA is a non-IFRS financial measure that is forward-looking, used to show the average annual EBITDA that the project
currently under construction is expected to generate upon completion.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>Funds From Operations (&quot;FFO&quot;)<BR>
</I>FFO is an important metric as it provides a proxy for cash generated from operating activities before changes in working capital and
provides the ability to evaluate cash flow trends in comparison with results from prior periods. FFO is a non-IFRS measure.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>Free Cash Flow (&quot;FCF&quot;)<BR>
</I>FCF is an important metric as it represents the amount of cash that is available to invest in growth initiatives, make scheduled principal
repayments on debt, repay maturing debt, pay common share dividends or repurchase common shares. Changes in working capital are excluded
so FFO and FCF are not distorted by changes that we consider temporary in nature, reflecting, among other things, the impact of seasonal
factors and timing of receipts and payments. FCF&nbsp; is a non-IFRS measure.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>Non-IFRS Ratios<BR>
</I>FFO per share, FCF per share, FFO before interest to adjusted interest coverage and adjusted net debt to adjusted EBITDA are non-IFRS
ratios that are presented in the MD&amp;A. See the Reconciliation of Cash Flow from Operations to FFO and FCF and Key Non-IFRS Financial
Ratios sections of the MD&amp;A for additional information.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>FFO per share and FCF per share<BR>
</I>FFO per share and FCF per share are calculated using the weighted average number of common shares outstanding during the period.&nbsp;
FFO per share and FCF per share is a non-IFRS ratio.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Reconciliation of these non-IFRS financial measures
to the most comparable IFRS measure are provided below.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Reconciliation of Non-IFRS Measures on a Consolidated
Basis&nbsp;<BR>
</B>The following table reflects adjusted EBITDA and provides reconciliation to earnings (loss) before income taxes for the year ended
Dec. 31, 2021 and Dec. 31, 2020:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Year ended Dec. 31, 2021</B></FONT></TD>
    <TD COLSPAN="8" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Attributable to common shareholders</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
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    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>$ millions</I></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Hydro</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Wind &amp; Solar<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Gas</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Energy Transition</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt">
    <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Energy</B></P>
    <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Marketing</B></P></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Corporate</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Equity </B></FONT><B><FONT STYLE="font-size: 8pt"><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">accounted investments<SUP>(1)</SUP></FONT></FONT></B></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Reclass Adjustments</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>IFRS Financials</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Revenues</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>383</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>323</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,109</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>709</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>211</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>4</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2,739</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(18)</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2,721</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Reclassifications and adjustments:</I></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Unrealized mark-to-market (gain) loss</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>25</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(40)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>19</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(38)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(34)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>34</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Decrease in finance lease receivable</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>41</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>41</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(41)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Finance lease income</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>25</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>25</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(25)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Unrealized foreign exchange gain on </FONT><FONT STYLE="font-size: 8pt"><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">commodity</FONT></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(3)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(3)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted Revenues</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>383</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>348</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,132</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>728</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>173</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>4</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2,768</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(18)</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(29)</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2,721</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fuel and purchased power</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>16</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>17</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>457</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>560</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>4</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,054</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,054</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Reclassifications and adjustments:</I></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Australian interest income</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(4)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(4)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>4</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Mine depreciation</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(79)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(111)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(190)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>190</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Coal inventory write-down</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(17)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(17)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>17</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted fuel and purchased power</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>16</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>17</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>374</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>432</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>4</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>843</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>211</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,054</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Carbon compliance</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>118</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>60</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>178</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>178</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Gross margin</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>367</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>331</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>640</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>236</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>173</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,747</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(18)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(240)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,489</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">OM&amp;A</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>42</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>59</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>175</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>117</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>36</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>84</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>513</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(2)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>511</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Reclassifications and adjustments:</I></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Parts and materials write-down</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(2)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(26)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(28)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>28</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Curtailment gain</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>6</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>6</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(6)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted OM&amp;A</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>42</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>59</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>173</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>97</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>36</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>84</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>491</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(2)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>22</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>511</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Taxes, other than&nbsp; income taxes</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>10</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>13</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>6</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>33</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(1)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>32</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net other operating&nbsp; expense (income)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(40)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>48</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>8</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>8</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Reclassifications and adjustments:</I></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Royalty onerous contract and contract t</FONT><FONT STYLE="font-size: 8pt"><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">ermination penalties</FONT></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(48)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(48)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>48</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted net other operating income</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(40)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(40)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>48</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>8</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted EBITDA</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>322</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>262</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>494</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>133</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>137</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(85)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,263</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Equity income from associate</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>9</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Finance lease income</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>25</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Depreciation and amortization</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(529)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Asset impairment</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(648)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net interest expense</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(245)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Foreign exchange&nbsp; loss</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>16</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Gain on sale of assets and other</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>54</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Loss&nbsp; before income taxes</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(380)</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="6" STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I><SUP>(1)</SUP></I></FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Skookumchuck has been included on a proportionate basis in the Wind and Solar segment. </FONT></TD></TR>
  <TR>
    <TD STYLE="width: 28%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Year ended Dec.31, 2020 </FONT></TD>
    <TD COLSPAN="8" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Attributable to common shareholders</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>$ millions</I></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Hydro</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Wind &amp; Solar<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Gas</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Energy Transition</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt">
    <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">Energy</P>
    <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">Marketing</P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Corporate</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Equity </FONT><FONT STYLE="font-size: 8pt"><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">accounted investments<SUP>(1)</SUP></FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Reclass Adjustments</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">IFRS Financials</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Revenues</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">152</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">332</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">787</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">704</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">122</FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2104</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(3)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2,101</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Reclassifications and adjustments:</I></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Unrealized mark-to-market (gain) loss</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">33</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(14)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">21</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">42</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(42)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Decrease in finance lease receivable</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">17</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">17</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(17)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Finance lease income</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(7)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Unrealized foreign exchange loss on </FONT><FONT STYLE="font-size: 8pt"><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">commodity</FONT></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(4)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted Revenues</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">152</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">334</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">848</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">690</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">143</FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2,174</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(3)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(70)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2,101</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fuel and purchased power</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">325</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">435</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">805</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">805</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Reclassifications and adjustments:</I></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Mine Depreciation</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(100)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(46)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(146)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">146</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Coal Inventory write-down</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(37)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(37)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">37</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Australian interest income</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(4)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(4)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted fuel and purchased power</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">221</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">352</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">618</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">187</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">805</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Carbon compliance</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">120</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">48</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(5)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">163</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">163</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Gross margin</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">144</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">309</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">507</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">290</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">143</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,393</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(3)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(257)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,133</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">OM&amp;A</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">37</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">53</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">166</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">106</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">30</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">80</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">472</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">472</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Taxes, other than&nbsp; income taxes</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">33</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">33</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net other operating&nbsp; expense (income)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(11)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(11)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(11)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Reclassifications and adjustments:</I></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Impact of Sheerness going off-coal</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(28)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(28)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">28</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted net other operating income</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(39)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(39)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">28</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(11)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted EBITDA</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">105</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">248</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">367</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">175</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">113</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(81)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">927</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Equity income from associate</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Finance lease income</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Depreciation and amortization</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(654)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Asset impairment</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(84)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net interest expense</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(238)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Foreign exchange&nbsp; loss</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">17</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Gain on sale of assets and other</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Loss before income taxes</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(303)</FONT></TD></TR>
  <TR>
    <TD COLSPAN="7" STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I><SUP>(1)</SUP></I></FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Skookumchuck has been included on a proportionate basis in the Wind and Solar segment.</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 28%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The following table reflects adjusted EBITDA by segment
and provides reconciliation to earnings (loss) before income taxes for the three months ended Dec. 31, 2021:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Attributable to common shareholders</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-left: 6pt; border-bottom: Black 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>$ millions</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Hydro</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Wind &amp; Solar<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Gas</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Energy Transition</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt">
    <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Energy</B></P>
    <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Marketing</B></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Corporate</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Equity </B></FONT><B><FONT STYLE="font-size: 8pt"><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">accounted investments<SUP>(1)</SUP></FONT></FONT></B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Reclass Adjustments</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>IFRS Financials</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Revenues</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>84</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>98</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>172</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>238</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>26</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(2)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>616</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(6)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>610</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Reclassifications and adjustments:</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Unrealized mark-to-market (gain) loss</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>82</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(8)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(12)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>65</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(65)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Decrease in finance lease receivable</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>11</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>11</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(11)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Finance lease income</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>6</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>6</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(6)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Unrealized
foreign exchange (gain) loss on commodity</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted Revenues</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>84</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>101</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>271</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>230</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>14</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(2)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>698</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(6)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(82)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>610</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fuel and purchased power</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>9</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>6</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>110</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>149</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(2)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>272</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>272</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Reclassifications and adjustments:</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Australian interest income</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(1)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(1)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Mine Depreciation</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(11)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(11)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>11</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Coal Inventory write-down</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(1)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(1)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted fuel and purchased power</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>9</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>6</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>109</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>137</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(2)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>259</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>13</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>272</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Carbon compliance</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>14</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>25</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>39</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>39</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Gross margin</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>75</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>95</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>148</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>68</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>14</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>400</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(6)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(95)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>299</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">OM&amp;A</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>7</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>17</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>46</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>20</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>5</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>29</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>124</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>124</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Reclassifications and adjustments:</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Parts and materials write-down</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(3)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Curtailment gain</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>6</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>6</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(6)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted OM&amp;A</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>7</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>17</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>46</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>29</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>5</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>29</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>133</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(9)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>124</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Taxes, other than&nbsp; income taxes</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>6</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>6</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net other operating income</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(10)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(8)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(18)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(18)</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Reclassifications and adjustments:</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Royalty onerous contract and contract </FONT><FONT STYLE="font-size: 8pt"><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">t&nbsp;&nbsp;ermination penalties</FONT></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>9</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>9</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(9)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted net other operating income</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(10)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(9)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(9)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(18)</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted EBITDA</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>67</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>76</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>110</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>37</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>9</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(29)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>270</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Equity income</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>4</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Finance income from subsidiaries</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>6</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Depreciation and amortization</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(134)</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Asset impairment</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(28)</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net interest expense</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(59)</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Foreign exchange&nbsp; loss</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(6)</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Gain on sale of assets and other</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(2)</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Loss before income taxes</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(32)</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="10" STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I><SUP>(1)</SUP></I></FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Skookumchuck has been included on a proportionate basis in the Wind and Solar segment. Includes reclassification adjustments.</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The following table reflects adjusted EBITDA by segment
and provides reconciliation to earnings (loss) before income taxes for the three months ended Dec. 31, 2020:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Attributable to common shareholders</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>$ millions</I></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Hydro</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Wind &amp; </FONT><FONT STYLE="font-size: 8pt"><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Solar<SUP>(1)</SUP></FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Gas</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Energy </FONT><FONT STYLE="font-size: 8pt"><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Transition</FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt">
    <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">Energy</P>
    <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">Marketing</P></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Corporate</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Equity </FONT><FONT STYLE="font-size: 8pt"><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">accounted </FONT><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">investments </FONT><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">and other<SUP>(1)</SUP></FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Reclass </FONT><FONT STYLE="font-size: 8pt"><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Adjustments</FONT></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">IFRS</FONT><FONT STYLE="font-size: 8pt"><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Financials</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Revenues</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">31</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">92</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">167</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">230</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">19</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">547</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(3)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">544</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Reclassifications and adjustments:</I></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Unrealized mark-to-market (gain) loss</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">34</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(10)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">44</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(44)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Decrease in finance lease receivable</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(6)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Finance lease income</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(3)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Australian interest income</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(4)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted Revenues</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">31</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">102</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">214</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">220</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">29</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">604</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(3)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(57)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">544</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fuel and purchased power</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">11</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">98</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">166</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">282</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">282</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Reclassifications and adjustments:</I></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Mine Depreciation</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(40)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(18)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(58)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">58</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Coal Inventory write-down</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(15)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(15)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">15</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted fuel and purchased power</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">11</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">57</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">133</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">208</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">74</FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">282</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Carbon compliance</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">30</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">15</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">45</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">45</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Gross margin</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">32</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">91</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">127</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">72</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">29</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">351</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(3)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(131)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">217</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">OM&amp;A</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">21</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">118</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">118</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Taxes, other than&nbsp; income taxes</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net other operating&nbsp; expense (income)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">19</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">19</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted EBITDA</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">22</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">77</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">92</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">42</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">23</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(22)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">234</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Equity income</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Finance income from subsidiaries</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Depreciation and amortization</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(173)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Asset impairment</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(17)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net interest expense</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(64)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Foreign exchange&nbsp; loss</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Gain on sale of assets and other</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Loss&nbsp; before income taxes</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(168)</FONT></TD></TR>
  <TR>
    <TD COLSPAN="11" STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I><SUP>(1)</SUP></I></FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Skookumchuck has been included on a proportionate basis in the Wind and Solar segment. Includes reclassification adjustments.</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 22%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Reconciliation of Cash flow from operations to
FFO and FCF&nbsp;&nbsp;<BR>
</B>The table below reconciles our cash flow from operating activities to our FFO and FCF:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3 Months Ended</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Year Ended</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B><I>$ millions unless otherwise stated</I></B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Dec. 31, 2021</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Dec. 31, 2020</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Dec. 31, 2021</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Dec. 31, 2020</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Cash flow from operating activities<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>54</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">110</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,001</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">702</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Change in non-cash operating working capital balances</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>148</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(174)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(89)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Cash flow from operations before changes in working capital</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>202</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">135</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>827</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">613</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjustments</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Share of adjusted FFO from joint venture<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>6</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>13</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Decrease in finance lease receivable</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>11</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>41</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">17</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Clean energy transition provisions and adjustments<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(6)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">15</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>79</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">37</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Other<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>11</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>FFO<SUP>(4)</SUP></B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>213</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">161</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>971</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">685</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Deduct:</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Sustaining capital<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(55)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(58)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(199)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(157)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Productivity capital</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(2)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(3)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(4)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(4)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Dividends paid on preferred shares</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(10)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(9)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(39)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(39)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Distributions paid to subsidiaries' non-controlling interests</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(38)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(29)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(159)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(102)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Principal payments on lease liabilities<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(2)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(10)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(8)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(25)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>FCF<SUP>(4)</SUP></B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>106</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">52</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>562</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">358</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Weighted average number of common shares outstanding in the </FONT><FONT STYLE="font-size: 8pt"><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">year</FONT></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>271</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">273</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>271</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">275</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>FFO per share<SUP>(4)</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>0.79</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.59</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3.58</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.49</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>FCF per share<SUP>(4)</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>0.39</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.19</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2.07</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.30</FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="vertical-align: top; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I><SUP>(1)</SUP></I></FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Includes our share of amounts for Skookumchuck, an equity accounted joint venture.</I></FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="vertical-align: top; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I><SUP>(2)</SUP>&nbsp;</I></FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Includes write-down on parts and material inventory for our coal operations, write-down on coal inventory to net realizable value and amounts due to </I></FONT><I><FONT STYLE="font-size: 8pt"><BR> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">contractors for not proceeding with the Sundance Unit 5 repowering project and impairment of a previously recognized deferred asset, as it is no longer likely </FONT><BR> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">that we will incur sufficient capital or operating expenditures to utilize the remaining credit.</FONT></FONT></I></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="vertical-align: top; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I><SUP>(3)</SUP>&nbsp;</I></FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>Other consists of production tax credits which is a reduction to tax equity debt.</I></FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="vertical-align: top; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I><SUP>(4)</SUP>&nbsp;</I></FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>These items are not defined and have no standardized meaning under IFRS. Please refer to the Non-IFRS financial measures and other specified financial </I></FONT><I><FONT STYLE="font-size: 8pt"><BR> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">measures section of this earnings release.</FONT></FONT></I></TD></TR>
  </TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><BR>
The table below bridges our adjusted EBITDA to our
FFO and FCF for the three months and year ended Dec. 31, 2021 and 2020:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3 Months Ended</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Year ended</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: right; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Dec. 31, 2021</B></FONT></TD>
    <TD STYLE="text-align: right; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Dec. 31, 2020</B></FONT></TD>
    <TD STYLE="text-align: right; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Dec. 31, 2021</B></FONT></TD>
    <TD STYLE="text-align: right; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Dec. 31, 2020</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted EBITDA<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>270</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">234</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,263</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">927</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Provisions and other</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(18)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(10)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(43)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Interest expense<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(51)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(56)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(200)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(192)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Current income tax expense<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(55)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(35)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Realized foreign exchange gain (loss)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(4)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(2)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Decommissioning and restoration costs settled<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(5)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(5)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(18)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(18)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other non-cash items<SUP>(4)</SUP></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>18</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(6)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>26</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(12)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>FFO<SUP>(3)</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>213</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">161</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>971</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">685</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Deduct:</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Sustaining capital<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(55)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(58)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(199)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(157)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Productivity capital</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(2)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(3)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(4)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(4)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Dividends paid on preferred shares</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(10)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(9)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(39)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(39)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Distributions paid to subsidiaries' &nbsp;&nbsp;non-controlling interests</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(38)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(29)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(159)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(102)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;Principal payments on lease liabilities<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(2)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(10)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(8)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(25)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;FCF<SUP>(3)</SUP></B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>106</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">52</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>562</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">358</FONT></TD></TR>
  <TR>
    <TD COLSPAN="6" STYLE="vertical-align: top; padding-right: 6pt; padding-left: 6pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I><SUP><BR></SUP></I></FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I><SUP>(1)</SUP></I></FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjusted EBITDA is defined in the Non-IFRS financial measures and other specified financial measures section of this earnings release and reconciled&nbsp;</FONT><FONT STYLE="font-size: 8pt"><BR> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">to earnings (loss) before income taxes above.</FONT></FONT></P></TD></TR>
  <TR>
    <TD COLSPAN="6" STYLE="vertical-align: top; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I><SUP>(2)</SUP></I></FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Includes our share of amounts for Skookumchuck, an equity accounted joint venture.</FONT></TD></TR>
  <TR>
    <TD COLSPAN="6" STYLE="vertical-align: top; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I><SUP>(3)</SUP></I></FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">FFO and FCF are defined in the Non-IFRS financial measures and other specified financial measures section of this earnings release and reconciled to cash </FONT><FONT STYLE="font-size: 8pt"><BR> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">flow from operating activities above. </FONT></FONT></TD></TR>
  <TR>
    <TD COLSPAN="6" STYLE="vertical-align: top; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I><SUP>(4)</SUP></I></FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other consists of production tax credits which is a reduction to tax equity debt.</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 31%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">TransAlta is in the process of filing its Annual Information
Form, Audited Consolidated Financial Statements and accompanying notes, as well as the associated Management's Discussion &amp; Analysis
(&quot;MD&amp;A&quot;). These documents will be available today on the Investors section of TransAlta's website at <U>www.transalta.com</U>
or through SEDAR at <U>www.sedar.com</U>.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">TransAlta will also be filing its Form 40-F with the
U.S. Securities and Exchange Commission. The form will be available through their website at www.sec.gov. Paper copies of all documents
are available to shareholders free of charge upon request.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B><I>About TransAlta Corporation:<BR>
</I></B><I>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 <U>UN Sustainable Development
Goals</U>.</I></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>For more information about TransAlta, visit our
web site at <U>transalta.com</U>.</I></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B><I>Cautionary Statement Regarding Forward-Looking
Information<BR>
</I></B><I>This news release contains &quot;forward-looking information&quot;, within the meaning of applicable Canadian securities laws,
and &quot;forward-looking statements&quot;, within the meaning of applicable United States securities laws, including the United States
Private Securities Litigation Reform Act of 1995 (collectively referred to herein as &quot;forward-looking statements). In some cases,
forward-looking statements can be identified by terminology such as &quot;plans&quot;, &quot;expects&quot;, &quot;proposed&quot;, &quot;will&quot;,
&quot;anticipates&quot;, &quot;develop&quot;, &quot;continue&quot;, and similar expressions suggesting future events or future performance.
In particular, this news release contains, without limitation, statements pertaining to: the construction of the 300 MW White Rock East
and White Rock West Wind Power Projects, including timing, amount of construction capital, securing tax equity financing, and expected
range of average annual EBITDA; the average annual adjusted EBITDA expected for the North Carolina solar portfolio;&nbsp; the Northern
Goldfields solar and battery project, including timing for commercial operation, amount of construction capital and average annual EBITDA;
the Garden Plain wind project, including the timing for commercial operation, total construction capital and average annual EBITDA; the
Kent Hills facility outage, including the timing and cost of remediation, and ability to reach agreement with the Trustee and holders
of Bonds in respect of any related waivers and amendments; the utilization of CEWS funding; and our ability to achieve our sustainability
targets. </I></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>The forward-looking statements contained in this
news release are based on many assumptions including, but not limited to, the following material assumptions: impacts arising from COVID-19
not becoming significantly more onerous on the Company, which includes the Company being permitted to continue as an essential service;
merchant power prices in Alberta and the Pacific Northwest;&nbsp; our proportionate ownership of TransAlta Renewables not changing materially;
no material decline in the dividends expected to be received from TransAlta Renewables; the expected life extension of the coal fleet
and anticipated financial results generated on conversion; assumptions regarding the ability of the converted units to successfully compete
in the Alberta energy-only market; and assumptions regarding our current strategy and priorities, including as it pertains to our ability
to realize the full economic benefit from the capacity, energy and ancillary services from our Alberta hydro assets. Forward-looking statements
are subject to a number of significant risks, uncertainties and assumptions that could cause actual plans, performance, results or outcomes
to differ materially from current expectations. Factors that may adversely impact what is expressed or implied by forward-looking statements
contained in this news release include, but are not limited to: the impact of COVID-19, including more restrictive directives of government
and public health authorities; increased force majeure claims; reduced labour availability and ability to continue to staff our operations
and facilities; disruptions to our supply chains, including our ability to secure necessary equipment and to obtain regulatory approvals
on the expected timelines or at all in respect of our growth projects; restricted access to capital and increased borrowing costs; changes
in short-term and/or long-term electricity supply and demand; fluctuations in market prices, including lower merchant pricing in Alberta,
Ontario or Mid-Columbia; reductions in production; increased costs; a higher rate of losses on our accounts receivables due to credit
defaults; impairments and/or write-downs of assets; adverse impacts on our information technology systems and our internal control systems,
including increased cyber security threats; commodity risk management and energy trading risks, including the effectiveness of the Company's
risk management tools associated with hedging and trading procedures to protect against significant losses; changes in demand for electricity
and capacity and our risk relating to our ability to contract our generation for prices that will provide expected returns and replace
contracts as they expire; changes to the legislative, regulatory and political environments in the jurisdictions in which we operate;
environmental requirements and changes in, or liabilities under, these requirements; operational risks involving our facilities, including
unplanned outages; disruptions in the transmission and distribution of electricity; the effects of weather, including man made or natural
disasters and other climate-change related risks; unexpected increases in cost structure; reductions to our generating units' relative
efficiency or capacity factors; disruptions in the source of fuels, including natural gas, as well as the extent of water, solar or wind
resources required to operate our facilities; general&nbsp; economic risks, including deterioration of equity markets, increasing interest
rates or rising inflation; failure to meet financial expectations; general domestic and international economic and political developments,
including armed hostilities, the threat of terrorism, cyberattacks, diplomatic developments or other similar events; equipment failure
and our ability to carry out or have completed the repairs in a cost-effective manner or timely manner, or at all, including if the remediation
at the Kent Hills wind facilities is more costly than expected; the holders of the Kent Hills Bonds declaring the principal and interest
on the bonds and all other amounts, together with any make-whole amount due thereunder, to be immediately due and payable; industry risk
and competition; fluctuations in the value of foreign currencies; structural subordination of securities; counterparty credit risk; changes
to our relationship with, or ownership of, TransAlta Renewables; changes in the payment or receipt of future dividends, including from
TransAlta Renewables; risks associated with development projects and acquisitions, including capital costs, permitting, labour and engineering
risks, and delays in the construction or commissioning of projects; inadequacy or unavailability of insurance coverage; our provision
for income taxes; legal, regulatory and contractual disputes and proceedings involving the Company; reliance on key personnel; labour
relations matters and other risks and uncertainties discussed in the Company's materials filed with the securities regulatory authorities
from time to time and as also set forth in the Company's MD&amp;A and Annual Information Form for the year ended December 31, 2021. Readers
are cautioned not to place undue reliance on these forward-looking statements, which reflect TransAlta's expectations only as of the date
of this news release. TransAlta disclaims any intention or obligation to update or revise these forward-looking statements, whether as
a result of new information, future events or otherwise, except as required by law.&nbsp; </I></P>

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  <TR>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Note: All financial figures are in Canadian dollars unless otherwise indicated.</FONT></TD></TR>
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<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">View original content:https://www.prnewswire.com/news-releases/transalta-reports-fourth-quarter-and-full-year-2021-results-301489640.html</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">SOURCE TransAlta Corporation</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">View original content: http://www.newswire.ca/en/releases/archive/February2022/24/c4220.html</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">%CIK: 0001144800</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0"><B>For further information: </B>Investor Inquiries: Phone: 1-800-387-3598
in Canada and U.S., Email: investor_relations@transalta.com; Media Inquiries: Phone: Toll-free media number: 1-855-255-9184, Email: ta_media_relations@transalta.com</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">CO: TransAlta Corporation</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">CNW 08:06e 24-FEB-22</P>
<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;</B></FONT></P>

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