TransAlta (NYSE: TAC) investors approve all 2026 directors, pay and share plan

Rhea-AI Filing Summary

TransAlta Corporation reported the results of its 2026 Annual and Special Meeting of Shareholders. Shareholders representing 188,939,751 common shares, or 63.55 per cent of outstanding shares, were present in person or by proxy.

All nine management director nominees were elected, each receiving more than 92 per cent support, with several above 99 per cent. Shareholders approved the appointment of Ernst & Young LLP as auditors for 2026 with 99.19 per cent of votes cast in favour.

The non-binding advisory vote on the Corporation’s approach to executive compensation passed with 96.69 per cent support. Shareholders also approved increasing the number of common shares reserved for issuance under the Share Unit Plan, with 98.53 per cent of votes cast in favour.

Key Figures

Shares represented at meeting: 188,939,751 shares Meeting participation: 63.55 per cent Auditor appointment support: 187,406,979 votes for (99.19%) +3 more

6 metrics

Shares represented at meeting 188,939,751 shares Common shares represented, 63.55% of outstanding, at 2026 meeting

Meeting participation 63.55 per cent Percentage of outstanding common shares represented at 2026 meeting

Auditor appointment support 187,406,979 votes for (99.19%) Approval of Ernst & Young LLP as 2026 auditors

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 common shares reserved under Share Unit Plan

Lowest director support 169,367,796 votes for (92.54%) Votes for director nominee Brian Baker

Key Terms

Annual and Special Meeting of Shareholders, non-binding advisory vote, executive compensation, Share Unit Plan, +1 more

5 terms

Annual and Special Meeting of Shareholders financial

"TransAlta Corporation held its Annual and Special Meeting of Shareholders"

A combined reference to the regular yearly gathering where shareholders vote on routine business (annual meeting) and any extra meetings called to decide urgent or specific matters (special meeting). Think of the annual meeting as the company’s yearly check-in and the special meeting as a quick boardroom session called when something important requires shareholder approval; both matter because they determine leadership, major policy, and actions that can change a stock’s value.

non-binding advisory vote financial

"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.

executive compensation financial

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

Payments and benefits given to a company's top leaders — including base salary, cash bonuses, stock awards, options and retirement or perquisites — designed to compensate and motivate them. Investors care because these packages affect a company’s costs, influence executives’ decisions and signal how well management’s interests line up with shareholders’; like a captain’s contract, the structure of pay can encourage safe navigation toward long-term gains or risky short-term moves that hurt returns.

Share Unit Plan financial

"the increase in the number of common shares reserved for issuance under the Corporation’s Share Unit Plan was approved"

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.

auditors financial

"The appointment of Ernst & Young LLP to serve as the auditors for 2026 was approved"

Auditors are independent professionals who examine a company’s financial records, internal controls and reporting to verify accuracy and uncover errors or fraud. For investors they act like a building inspector for a company’s finances: a clean audit boosts confidence in the numbers used to value the business, while audit issues or qualifications can signal higher risk and affect stock price and access to capital.

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 2026

Commission File Number: 001-15214

TransAlta Corporation
(Translation of registrant's name into English)

Suite 1400, 1100 – 1st Street S.E., Calgary, Alberta, T2G 1B1
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [   ]      Form 40-F [ X ]

SIGNATURES

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.

		TransAlta Corporation
		(Registrant)
Date: April 30, 2026		/s/ Joel Hunter
		Joel Hunter
		Executive Vice President Finance and Chief Financial Officer

EXHIBIT INDEX

Exhibit Number		Description
99.1		TransAlta Corporation Announces Results of the 2026 Annual and Special Meeting of Shareholders and Election of all Directors

EXHIBIT 99.1

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

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

What did TransAlta (TAC) shareholders vote on at the 2026 Annual and Special Meeting?

Shareholders voted on nine director elections, appointment of Ernst & Young LLP as 2026 auditors, an advisory say-on-pay for executive compensation, and increasing common shares reserved under the Share Unit Plan, with all resolutions receiving strong majority approval.

How many TransAlta (TAC) shares were represented at the 2026 shareholder meeting?

A total of 188,939,751 common shares were represented at the meeting, equal to 63.55 per cent of TransAlta’s outstanding common shares, indicating a substantial level of shareholder participation in the company’s 2026 governance decisions.

Were all TransAlta (TAC) director nominees elected at the 2026 meeting?

Yes, all nine management-nominated directors were elected. Support ranged from 92.54 per cent for Brian Baker to over 99 per cent for several nominees, including John P. Dielwart and Joel E. Hunter, reflecting broad shareholder backing for the board slate.

Did TransAlta (TAC) shareholders approve the 2026 auditor appointment?

Yes. Shareholders approved the appointment of Ernst & Young LLP as TransAlta’s auditors for 2026, with 187,406,979 votes for, representing 99.19 per cent support, and 1,532,770 votes, or 0.81 per cent, recorded as abstentions.

How did TransAlta (TAC) shareholders vote on executive compensation in 2026?

Shareholders approved the non-binding advisory vote on TransAlta’s approach to executive compensation. The resolution received 176,968,517 votes for, or 96.69 per cent, and 6,061,396 votes against, or 3.31 per cent, indicating strong support for the compensation framework.

What change was approved to TransAlta’s Share Unit Plan in 2026?

Shareholders approved increasing the number of common shares reserved for issuance under the Share Unit Plan. The resolution passed with 186,169,941 votes for, representing 98.53 per cent, and 2,769,806 votes against, or 1.47 per cent of votes cast.

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