TransAlta Corporation Announces Results of the 2026 Annual and Special Meeting of Shareholders and Election of all Directors

TransAlta (NYSE: TAC) held its Annual and Special Meeting on April 30, 2026.

Rhea-AI Summary

TransAlta (NYSE: TAC) held its Annual and Special Meeting on April 30, 2026. Shareholders represented 188,939,751 common shares (63.55% outstanding). All nine director nominees were elected, Ernst & Young LLP was appointed auditor, the advisory vote on executive compensation passed, and the Share Unit Plan increase was approved.

Vote tallies show broad support across resolutions, with director votes ranging from 92.54% to 99.64%.

Positive

• All nine director nominees were elected with broad shareholder support
• Advisory vote on executive compensation approved with 96.69% support
• Appointment of Ernst & Young LLP as auditors approved with 99.19% support
• Increase in shares available under Share Unit Plan approved with 98.53% support

Negative

• Director Brian Baker received lower support at 92.54% compared with peers

Key Figures

Shares represented at meeting: 188,939,751 common shares Attendance rate: 63.55% Director nominees: 9 nominees +5 more

Shares represented at meeting

188,939,751 common shares

2026 Annual and Special Meeting attendance

Attendance rate

63.55%

Percent of outstanding common shares represented

Director nominees

9 nominees

Management’s slate for Board election

Auditor appointment support

187,406,979 votes for (99.19%)

Ernst & Young LLP as auditors for 2026

Say-on-pay support

176,968,517 votes for (96.69%)

Advisory vote on executive compensation approach

Share unit plan increase support

186,169,941 votes for (98.53%)

Increase in shares available under Share Unit Plan

Highest director support

181,971,364 votes for (99.42%)

Election of John P. Dielwart as director

Lowest director support

169,367,796 votes for (92.54%)

Election of Brian Baker as director

Historical Context

5 past events · Latest: Apr 20

5 events

1. Apr 20

   Management changes

   24h Move

   +0.0%

   Announced new CFO and Chief Commercial Officer tied to CEO transition.

2. Apr 07

   Meeting & earnings schedule

   24h Move

   +2.1%

   Set dates for 2026 shareholder meeting and Q1 2026 results call.

3. Mar 23

   Investor Day strategy

   24h Move

   +2.1%

   Outlined long-term growth, Alberta outlook, and strategic priorities to 2029.

4. Mar 17

   Preferred share conversion

   24h Move

   -0.9%

   Reported Series A and B preferred conversion results and updated outstanding counts.

5. Mar 17

   Regulatory operations order

   24h Move

   -0.9%

   DOE required Centralia Unit 2 to remain available for 90 additional days.

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

Key Terms

proxy, non-binding advisory vote, share unit plan

3 terms

proxy financial

"The total number of common shares represented by shareholders at the Meeting and by proxy was 188,939,751..."

A proxy is the authorization a shareholder gives to another person or document to cast votes on their behalf at a company meeting. Think of it like handing someone your voting ticket so they can represent your choices on board elections, executive pay, mergers and other big decisions; it matters because proxies determine who controls the company and which proposals pass, directly affecting share value and investor returns.

non-binding advisory vote regulatory

"The non-binding advisory vote to accept the Corporation's approach to executive compensation was approved."

A non-binding advisory vote is a shareholder vote that expresses investors’ opinion on a proposal (such as executive pay, corporate policy, or governance practices) but does not legally force the company to act. Think of it like a customer survey: it signals whether owners approve or disapprove and can pressure boards and managers to change course, so investors watch the result as an indicator of governance risk and potential future shifts in company strategy or leadership.

share unit plan financial

"Increase in Shares Available for Issuance Under Share Unit Plan The resolution approving the increase..."

A share unit plan is a company program that grants employees or directors bookkeeping claims that mirror ownership of company stock, usually paid out in actual shares or cash after meeting time-based or performance conditions. Investors care because these plans affect future share counts and company costs—like promises to give slices of the corporate pie later—which can dilute existing owners and influence management incentives and long-term performance.

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

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CALGARY, Alberta, April 30, 2026 (GLOBE NEWSWIRE) -- TransAlta Corporation (TSX: TA) (NYSE: TAC) ("TransAlta" or the "Company") held its Annual and Special Meeting of Shareholders (“the Meeting”) on April 30, 2026. The total number of common shares represented by shareholders at the Meeting and by proxy was 188,939,751, representing 63.55 per cent of the Company’s outstanding common shares.

The following resolutions were considered by shareholders:

Election of Directors

The nine director nominees proposed by management were elected. The votes by ballot were received as follows:

Nominee	Votes For	Per cent	Against	Per cent
Brian Baker	169,367,796	92.54	13,662,120	7.46
John P. Dielwart	181,971,364	99.42	1,058,552	0.58
Laura W. Folse	182,079,603	99.48	950,310	0.52
Joel E. Hunter	182,377,197	99.64	652,249	0.36
Thomas M. O’Flynn	182,117,078	99.50	912,838	0.50
Bryan D. Pinney	181,353,532	99.08	1,676,382	0.92
James Reid	182,367,358	99.64	662,558	0.36
Manjit K. Sharma	182,312,612	99.61	717,302	0.39
Sandra R. Sharman	181,766,236	99.31	1,261,882	0.69

Appointment of Auditors 

The appointment of Ernst & Young LLP to serve as the auditors for 2026 was approved. The votes by ballot were received as follows:

Votes For	Per cent	Abstained	Per cent
187,406,979	99.19	1,532,770	0.81

Advisory Vote on Executive Compensation

The non-binding advisory vote to accept the Corporation's approach to executive compensation was approved. The votes by ballot were received as follows:

Votes For	Per cent	Against	Per cent
176,968,517	96.69	6,061,396	3.31

Increase in Shares Available for Issuance Under Share Unit Plan

The resolution approving the increase in the number of common shares reserved for issuance under the Corporation’s Share Unit Plan was approved. The votes by ballot were received as follows:

Votes For	Per cent	Against	Per cent
186,169,941	98.53	2,769,806	1.47

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. 

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.

Were all TransAlta (TAC) directors re-elected at the April 30, 2026 meeting?

Yes. All nine director nominees were elected at the April 30, 2026 meeting. According to the company, vote totals ranged from 92.54% to 99.64% in favor across the nominees.

What was the shareholder turnout for TransAlta's April 30, 2026 meeting (TAC)?

Shareholders represented 188,939,751 common shares, or 63.55% of outstanding common shares. According to the company, that total includes in-person and proxy votes recorded for the meeting.

Did TransAlta (TAC) approve the appointment of auditors at the 2026 meeting?

Yes. Shareholders approved the appointment of Ernst & Young LLP as auditors for 2026. According to the company, the appointment received 99.19% of votes in favor, with 0.81% abstaining.

What was the result of the advisory vote on executive compensation for TransAlta (TAC)?

The non-binding advisory vote to accept the approach to executive compensation was approved. According to the company, it received 96.69% support versus 3.31% against in the ballot totals.

Did TransAlta (TAC) increase the shares reserved under its Share Unit Plan on April 30, 2026?

Yes. The resolution to increase shares reserved under the Share Unit Plan was approved. According to the company, the vote passed with 98.53% in favor and 1.47% against.