TransAlta (TAC) - 2021 Q2 - Earnings Call Presentation

Financial Performance - Comparable EBITDA increased by 39% from $217 million to $302 million[10, 36, 37] - Free Cash Flow (FCF) increased by 52% from $91 million to $138 million[12, 36] - FCF per share increased by 55% from $0.33 to $0.51[12, 36] - TransAlta Renewables Q2 2021 Comparable EBITDA was $97 million, compared to $115 million in Q2 2020[41] - TransAlta Renewables Q2 2021 AFFO was $64 million, compared to $90 million in Q2 2020[41] - TransAlta Renewables Q2 2021 CAFD was $40 million, compared to $67 million in Q2 2020[41] Growth Initiatives - Launched the 48 MW Northern Goldfields Solar & Storage Project in Australia, with an expected EBITDA of $8 - $9 million[11, 22, 23] - Launched the Garden Plain 130 MW Wind Project in Alberta, with an expected EBITDA of ~$14 – $18 million[13, 25] - Added 500 MW of renewables to the growth pipeline[19] - The company has access to $2 billion in liquidity, including approximately $650 million in cash[19] Portfolio and Strategy - The company has an advanced stage development sites of 500 MW and early/mid-stage prospects of 2.3GW – 2.9GW[17, 29] - Updated 2021 Comparable EBITDA guidance to $1,100 - $1,200 million, up ~13% from the original guidance[14, 43] - Updated 2021 FCF guidance to $440 - $515 million, up ~22% on a per share basis[14, 43]