TransAlta Corporation Announces Conversion Results for Series A and B Preferred Shares

TransAlta (NYSE: TAC) announced preferred share conversion results as of March 31, 2026.

Rhea-AI Summary

TransAlta (NYSE: TAC) announced preferred share conversion results as of March 31, 2026. No Series A (9,629,913 outstanding) converted into Series B; 1,148,549 Series B of 2,370,087 converted into Series A on a one-for-one basis. Post-conversion counts: 10,778,462 Series A and 1,221,538 Series B outstanding. The Series A and Series B shares trade on the Toronto Stock Exchange as TA.PR.D and TA.PR.E, respectively.

Positive

• Series A outstanding increases to 10,778,462 shares
• Series B outstanding decreases to 1,221,538 shares
• 1,148,549 Series B converted one-for-one into Series A

Negative

• None.

Argus Mar 18 session

-0.88% close to close Open Argus

Details

News Market Reaction – TAC

On Mar 18, the first trading day after this news, TAC closed 0.88% below the previous close.

Data tracked by StockTitan Argus for the Mar 18 session.

Key Figures

Series A outstanding pre: 9,629,913 shares Series B outstanding pre: 2,370,087 shares Series B to convert: 1,148,549 shares +2 more

Series A outstanding pre

9,629,913 shares

Currently outstanding Series A preferred shares before conversion

Series B outstanding pre

2,370,087 shares

Currently outstanding Series B preferred shares before conversion

Series B to convert

1,148,549 shares

Series B shares converting into Series A on March 31, 2026

Series A post-conversion

10,778,462 shares

Series A shares issued and outstanding after conversion

Series B post-conversion

1,221,538 shares

Series B shares issued and outstanding after conversion

Historical Context

5 past events · Latest: Mar 02

5 events

1. Mar 02

   Pref share terms

   24h Move

   -3.9%

   Set dividend rates and conversion rights for Series A and B preferreds.

2. Feb 27

   Investor Day plan

   24h Move

   +5.5%

   Announced Investor Day to outline strategy, long-term plan and outlook.

3. Feb 27

   Data centre MOU

   24h Move

   +5.5%

   MOU for Keephills data centre with initial 230 MW PPA and 1 GW potential.

4. Feb 27

   Earnings & dividend

   24h Move

   +5.5%

   Reported 2025 results, raised dividend and provided 2026 EBITDA and FCF outlook.

5. Jan 27

   Earnings call notice

   24h Move

   +0.9%

   Announced timing and access details for Q4 and full-year 2025 results call.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

cumulative redeemable rate reset first preferred shares, cumulative redeemable floating rate first preferred shares

2 terms

cumulative redeemable rate reset first preferred shares financial

"none of its 9,629,913 currently outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series A"

A cumulative redeemable rate reset first preferred share is a type of preferred stock that pays regular dividends which accumulate if missed, can be called (bought back) by the issuer, and has a dividend rate that resets periodically based on a market benchmark. Think of it like an adjustable-rate bond with senior claim on dividends: it can provide higher income when rates rise but carries call risk and sensitivity to the issuer’s credit, so investors weigh yield against potential redemption and price volatility.

cumulative redeemable floating rate first preferred shares financial

"into Cumulative Redeemable Floating Rate First Preferred Shares, Series B"

A class of preferred stock that pays regular, adjustable cash payments whose rate moves with market interest rates, has priority over common shares for payments, and accumulates unpaid payments until the issuer makes them; the issuer also has the right to redeem (buy back) the shares under specified terms. Think of it as a hybrid between a bond and stock: it can provide higher-priority, interest-like income that adjusts with rates, but the issuer’s ability to call the shares and the stock-like ownership risks make the return and holding period less certain for investors.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CALGARY, Alberta, March 17, 2026 (GLOBE NEWSWIRE) -- Further to TransAlta Corporation's (TransAlta or the Company) (TSX: TA) (NYSE: TAC) press release dated March 2, 2026, the Company announced today that none of its 9,629,913 currently outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series A (Series A Shares) will be converted on March 31, 2026, on a one-for-one basis, into Cumulative Redeemable Floating Rate First Preferred Shares, Series B (Series B Shares), and (ii) 1,148,549 of its 2,370,087 currently outstanding Series B Shares will be converted on March 31, 2026, on a one-for-one basis, into Series A Shares. As a result, on March 31, 2026, the Company will have 10,778,462 Series A Shares issued and outstanding and 1,221,538 Series B Shares issued and outstanding.

The Series A Shares and Series B Shares are currently listed on the Toronto Stock Exchange under the symbols TA.PR.D and TA.PR.E, respectively.

About TransAlta Corporation:

TransAlta is one of Canada’s largest publicly traded power generators, delivering reliable electricity across Canada, the United States and Western Australia. For more than 100 years, our people have safely operated and evolved essential energy infrastructure that powers customers and communities. Our technology-diverse portfolio and disciplined execution allow us to deliver dependable power across evolving energy systems. We take a practical, responsible approach to meeting today’s energy needs while building for what comes next.

For more information about TransAlta, visit our web site at transalta.com.

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “may”, “will”, “should”, “estimate”, “intend” or other similar words). Specifically, this news release contains forward-looking information with respect to the Company and the conversion of the Series A Shares and the Series B Shares. All forward-looking information reflects the Company’s beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release. TransAlta undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from those in the forward-looking information, refer to the Company’s most recent Annual Report and Management’s Discussion and Analysis and the Prospectus Supplement dated Dec. 3, 2010, in each case filed under the Company’s profile on SEDAR at www.sedarplus.com.

For more information:

Investor Inquiries:	Media Inquiries:
Phone: 1-800-387-3598 in Canada and US	Phone: 1-855-255-9184
Email: investor_relations@transalta.com	Email: ta_media_relations@transalta.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What conversions did TransAlta (TAC) announce for March 31, 2026?

No Series A shares converted into Series B; 1,148,549 Series B converted into Series A one-for-one. According to the company, conversions were executed on a one-for-one basis effective March 31, 2026, changing the issued counts for each series.

How many Series A and Series B shares will be outstanding after the March 31, 2026 conversions for TAC?

After conversion, TransAlta will have 10,778,462 Series A and 1,221,538 Series B outstanding. According to the company, those figures reflect the one-for-one exchanges completed on March 31, 2026.

Which TSX symbols represent TransAlta's Series A and Series B preferred shares (TAC)?

Series A preferred shares trade as TA.PR.D and Series B trade as TA.PR.E on the Toronto Stock Exchange. According to the company, both series remain listed under those TSX symbols following the March 31, 2026 conversions.

Did any Series A preferred shares convert into Series B on March 31, 2026 for TAC?

No, none of the 9,629,913 Series A shares converted into Series B on March 31, 2026. According to the company, all conversions that occurred were Series B into Series A on a one-for-one basis.

Does the March 31, 2026 conversion notice for TransAlta (TAC) state any change to dividend terms?

The notice does not state any change to dividend terms as part of the conversions. According to the company, the announcement reports share-count conversions only and does not disclose alterations to dividend rates or payment schedules.