<SEC-DOCUMENT>0001279569-23-001378.txt : 20231102
<SEC-HEADER>0001279569-23-001378.hdr.sgml : 20231102
<ACCEPTANCE-DATETIME>20231102072115
ACCESSION NUMBER:		0001279569-23-001378
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20231102
FILED AS OF DATE:		20231102
DATE AS OF CHANGE:		20231102

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:		231370070

	BUSINESS ADDRESS:	
		STREET 1:		TRANSALTA PLACE
		STREET 2:		1400, 1100 - 1ST STREET S.E.
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2G 1B1
		BUSINESS PHONE:		403-267-2014

	MAIL ADDRESS:	
		STREET 1:		TRANSALTA PLACE
		STREET 2:		1400, 1100 - 1ST STREET S.E.
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2G 1B1
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<DESCRIPTION>FORM 6-K
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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 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 November, 2023<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: center"><FONT STYLE="font-weight: normal"><FONT STYLE="font-family: Wingdings"></FONT></FONT></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>TRANSALTA CORPORATION</B></P>

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

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    <TD STYLE="width: 13%">By:</TD>
    <TD STYLE="width: 87%; 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: November 2. 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</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>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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  <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 to Acquire Heartland Generation from Energy Capital Partners for $658 million - Expands Capabilities to Meet Demands of Energy
Transition&rdquo;</A></TD></TR>
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<DESCRIPTION>NEWS RELEASE DATED NOVEMBER 2, 2023
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<P STYLE="margin: 0; text-align: right">&nbsp;<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">&nbsp;&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><IMG SRC="logo.jpg" ALT="">&nbsp;</P>

<P STYLE="font: bold 24pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">TransAlta to Acquire Heartland Generation from
Energy Capital Partners for $658 million - Expands Capabilities to Meet Demands of Energy Transition</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">CALGARY, AB, Nov. 2, 2023 /CNW/ -</P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Highlights</B></P>

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

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-bottom: 15pt; margin-left: 0">Highly accretive to free cash
flow and cash yield upon closing with approximately 55% of revenues contracted with a weighted-average remaining life of 16 years</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-bottom: 15pt; margin-left: 0">Transaction valued at approximately
$658 million, inclusive of the assumption of $268 million of low-cost debt, with an expected EBITDA multiple of approximately 5.5x</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-bottom: 15pt; margin-left: 0">Corporate pre-tax synergies
expected to exceed $20 million annually</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-bottom: 15pt; margin-left: 0">Adds 1,844 MW (net interest)
of complementary flexible capacity including contracted cogeneration, peaking generation, transmission capacity and development opportunities
in hydrogen, which will be needed to support the energy transition and reliability in the Alberta electricity market</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-bottom: 15pt; margin-left: 0">Augments and further diversifies
TransAlta's portfolio in Alberta's energy-only market</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Enhances TransAlta's competitive positioning in the highly dynamic
and shifting electricity landscape in Alberta</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">TransAlta Corporation (TSX: TA) (NYSE: TAC) (&quot;TransAlta&quot;
or &quot;the Company&quot;) announced that it has entered into a definitive share purchase agreement (the &quot;Agreement&quot;) with
an affiliate of Energy Capital Partners (&quot;ECP&quot;), the parent of Heartland Generation Ltd. and Alberta Power (2000) Ltd. (collectively,
&quot;Heartland&quot;), pursuant to which TransAlta will acquire Heartland and its entire business operations in Alberta and British Columbia.&nbsp;
Heartland owns and operates generation assets consisting of 507 megawatts (MW) of cogeneration, 387 MW of contracted and merchant peaking
generation, 950 MW of gas-fired thermal generation, transmission capacity and a development pipeline that includes the 400 MW Battle River
Carbon Hub. The purchase price for the acquisition is $390 million, subject to working capital and other adjustments, as well as the assumption
of $268 million of low-cost debt. The Company will finance the transaction using cash on hand and draws on its credit facilities. The
Agreement provides that economic benefits arising after October 31, 2023 will be to the account of TransAlta.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&quot;With this acquisition we are pleased to announce
the addition of highly flexible and complementary assets to our Alberta portfolio.&nbsp; As the energy transition continues to drive new
investment in renewables in the Province, our assessment is that the market will require low-cost, highly flexible and fast-responding
generation, which will be supportive to grid reliability over the coming years. This&nbsp; transaction will support us in maintaining
our competitive positioning and ensure we have a robust and diversified portfolio, which together with our marketing capabilities, can
complement and support a cleaner grid,&quot; said John Kousinioris, President and Chief Executive Officer of TransAlta.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&quot;The Heartland portfolio is low cost and will
contribute meaningful cash flows with significant value from synergies. It will also support the energy transition until other zero-emitting
solutions are developed. We remain committed to our Clean Electricity Growth Plan and net-zero targets. The acquisition of this set of
assets represents a strategic investment in our home market with a strong return profile which continues to be aligned with our longer
term decarbonization goals,&quot; added Mr. Kousinioris.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&quot;ECP is proud of the transition progress that
Heartland has made since its acquisition in 2019 through our early coal conversions and the advancements of the Battle River Carbon Hub,
all the while consistently delivering reliable electricity to the Province. We are excited for TransAlta to continue advancing the energy
transition and meeting the reliability and electricity needs of Alberta,&quot; said Andrew Gilbert, ECP Partner.</P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Investment Highlights</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The transaction is strategically attractive to TransAlta
and provides the following benefits:</P>

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

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-bottom: 15pt; margin-left: 0"><B>Expands Flexible Generation
Capabilities: </B>Augments and diversifies TransAlta's portfolio in Alberta's energy-only market by expanding its flexible and fast-ramping
capacity and marketing capabilities to be able to better respond to changes in market conditions stemming from the intermittency of increasing
renewable generation.</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-bottom: 15pt; margin-left: 0"><B>Enhances TransAlta's Competitive
Positioning: </B>The acquisition will competitively position TransAlta in response to the changing dynamics in Alberta given the expected
significant increase in renewables and other large baseload generation coming online in the next several years in the highly dynamic and
shifting electricity landscape in the province.</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-bottom: 15pt; margin-left: 0"><B>Aligned with TransAlta's
Alberta Strategy</B>: The portfolio delivers a highly-responsive, flexible and fast-ramping fleet (peaking units) which will be supportive
to responsible energy transition and deliver reliability in the Alberta electricity market for the next 10 to 15 years.</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-bottom: 15pt; margin-left: 0"><B>Attractive Transaction Metrics:</B>
The acquisition is highly accretive to free cash flow with an attractive multiple and strong cash yield. The transaction acquires a portfolio
of assets at approximately $357 per kW, which is well below replacement cost of current and other forms of reliable generation, providing
a low-cost expansion of our ability to deliver reliable generation to the market demands of Alberta.</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-bottom: 15pt; margin-left: 0"><B>Highly Contracted Cash Flow:</B>
Post-closing, the assets are expected to add approximately $115 million of average annual EBITDA including synergies. Approximately, 55
per cent of revenues are under contract with high creditworthy counterparties which have a weighted-average remaining contract life of
16 years.</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-bottom: 15pt; margin-left: 0"><B>Near-term Synergies: </B>TransAlta
will have the opportunity to leverage corporate costs within our existing business which will provide estimated corporate pre-tax synergies
of $20 million annually. In addition, the combined portfolio will enable the Company to further optimize operations and supply chains
through scale to achieve additional synergies in the future.</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-bottom: 15pt; margin-left: 0"><B>Retains Ownership Presence
in Alberta and Builds On Regional Expertise: </B>The Company is well positioned to deliver significant value through our deep technical
gas and cogeneration local operational experience which, together with our 112-year history in Alberta, will ensure continuing safe and
reliable generation in a dynamic and evolving landscape.</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-bottom: 15pt; margin-left: 0"><B>Battle River Carbon Hub Project:
</B>This project is a first-of-its-kind 400 MW integrated clean energy project, combining clean hydrogen, production and carbon sequestration,
to create a zero-carbon baseload electricity solution. The project would retrofit the existing generation facility at Battle River and
utilize the existing transmission infrastructure, which will minimize development costs for a zero-carbon power solution.</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt"><B>Maintains Leadership in Decarbonization:</B> TransAlta remains
among Canada's largest producers of wind power and Alberta's largest producer of hydroelectric power. The Clean Electricity Growth Plan
continues to be at the heart of our strategy and is dedicated to meeting the future needs of our customers with clean electricity solutions.
TransAlta's ability to meet its 2026 GHG emissions reduction target and carbon net zero by 2045 remain on track.&#8239;&#8239;This acquisition
adds to TransAlta's 4.6 GW development pipeline with the addition of a 400 MW hydrogen carbon hub opportunity.</LI>

</UL>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Additional Information on the Agreement</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The Agreement is subject to customary closing conditions,
including receipt of regulatory approvals.&nbsp; The transaction is expected to close in the first half of 2024.&nbsp;</P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Investor Call</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">A conference call with the investment community will
take place on November 2 at 9:00 a.m. MST (11:00 a.m. EST). The call will begin with a short address by John Kousinioris, President and
Chief Executive Officer followed by a question-and-answer period for analysts and media.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; text-align: center; margin-right: 0; margin-left: 0"><B>Dial-in number &ndash; TransAlta
to Acquire Heartland Generation<BR>
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 https://transalta.com/investors/presentations-and-events/.&nbsp;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 522257
followed by the # sign. A transcript of the broadcast will be posted on TransAlta's website once it becomes available.</P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B><I>About TransAlta Corporation: </I></B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><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 hydro-electric power. For
over 112 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees
work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and its climate change strategy with CDP
(formerly Climate Disclosure Project) and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. TransAlta has
achieved a 68 per cent reduction in GHG emissions or 22 million tonnes since 2015 and has received scores of A- from CDP and AA from MSCI.</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: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B><I>Cautionary Statement Regarding Forward-Looking Information </I></B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><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: TransAlta's acquisition of Heartland; the anticipated benefits arising from such transaction, including that
the transaction will be accretive to free cash flow and cash yield, that Heartland's assets will be supportive to grid reliability for
the next 10 to 15 years, and the amount of pre-tax synergies; the acquisition EBITDA multiple of 5.5x; the Company's Clean Electricity
Growth Plan and the Company's expectations relating to meeting the future needs of our customers with clean electricity solutions; TransAlta's
ability to meet its GHG emissions reduction and net zero targets; the 400 MW hydrogen carbon hub opportunity, including the project's
continued development; and the ability to obtain regulatory approval and the timing thereof. These forward-looking statements are not
historical facts but are based on TransAlta's belief and assumptions based on information available at the time the assumptions were made,
including, but not limited to: the political and regulatory environments; the price of power in Alberta</I>; <I>and the condition of the
financial markets not changing significantly. These statements are subject to a number of risks and uncertainties that may cause actual
results to differ materially from those contemplated by the forward-looking statements. Some of the factors that could cause such differences
include: operational risks involving Heartland's facilities; changes in market power and gas prices in Alberta; supply chain disruptions
impacting major maintenance and growth projects; failure to obtain necessary regulatory approvals in a timely fashion, or at all; inability
to economically or technologically advance the Battle River Carbon Hub Project to final investment decision or commercial operation; any
loss of value in the Heartland portfolio during the interim period prior to closing; cybersecurity breaches; negative impacts to our credit
ratings; legislative or regulatory developments and their impacts; increasingly stringent environmental requirements and their impacts;
increased competition; global capital markets activity (including our ability to access financing at a reasonable cost or at all); changes
in prevailing interest rates, currency exchange rates and inflation levels; armed hostilities; general economic conditions in the geographic
areas in which TransAlta operates; 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 Dec. 31,
2022. 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. The purpose of the financial outlooks contained in this news release are to give the reader information
about management's current expectations and plans and readers are cautioned that such information may not be appropriate for other purposes
and is given 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.</I></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Note: All financial figures are in Canadian dollars
unless otherwise indicated.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">View original content:https://www.prnewswire.com/news-releases/transalta-to-acquire-heartland-generation-from-energy-capital-partners-for-658-million---expands-capabilities-to-meet-demands-of-energy-transition-301975281.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/November2023/02/c6736.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: 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 07:00e 02-NOV-23</P>

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