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TransAlta Renewables Inc. Reports on Voting Results from the 2022 Annual Meeting of Shareholders

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CALGARY, AB, May 4, 2022 /CNW/ - TransAlta Renewables Inc. ("TransAlta Renewables" or the "Company") (TSX: RNW) held its Annual Meeting of Shareholders ("the Meeting") on May 4, 2022. The total number of common shares represented by shareholders at the Meeting and by proxy was 200,891,383, representing 75.28 per cent of the Company's outstanding common shares.

The following resolutions were approved by shareholders:

1. Election of Directors

The eight director nominees were elected. The votes by ballot were received as follows:

Nominee

Votes For

Percent

Withheld

Percent

David W. Drinkwater

199,802,769

99.70%

601,844

0.30%

Brett M. Gellner

191,983,368

95.80%

8,421,245

4.20%

Allen R. Hagerman

198,722,927

99.16%

1,681,686

0.84%

Georganne Hodges

190,904,617

95.26%

9,499,996

4.74%

Kerry O'Reilly Wilks

193,945,610

96.78%

6,459,003

3.22%

Todd J. Stack

194,558,795

97.08%

5,845,818

2.92%

Paul H.E. Taylor

192,168,510

95.89%

8,236,103

4.11%

Susan M. Ward

198,751,597

99.18%

1,653,016

0.82%

2. Appointment of Auditors

The appointment of Ernst & Young LLP to serve as the independent auditors for 2022 was approved. The votes by ballot were received as follows:

Votes For

Percent

Withheld

Percent

200,819,289

99.96%

72,094

0.04%

About TransAlta Renewables Inc.

TransAlta Renewables is among the largest of any publicly traded renewable independent power producers ("IPP") in Canada. Our asset platform and economic interests are diversified in terms of geography, generation and counterparties and consist of interests in 26 wind facilities, 13 hydroelectric facilities, eight natural gas generation facilities, two solar facilities, one natural gas pipeline, and one battery storage project, representing an ownership interest of 2,968 megawatts of owned generating capacity, located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the States of Pennsylvania, New Hampshire, Wyoming, Massachusetts, Michigan, Minnesota, Washington, North Carolina, and the State of Western Australia. Our objectives are to (i) provide stable, consistent returns for investors through the ownership of, and investment in, highly contracted renewable and natural gas power generation and other infrastructure assets that provide stable cash flow primarily through long-term contracts with strong counterparties; (ii) pursue and capitalize on strategic growth opportunities in the renewable and natural gas power generation and other infrastructure sectors; (iii) maintain diversity in terms of geography, generation and counterparties; and (iv) pay out 80 to 85 per cent of cash available for distribution to the shareholders of the Company on an annual basis. The Company's ability to lower its current payout ratio to within the targeted range will depend on a number of factors, including the return to service of the Kent Hills 1 and 2 wind facilities and the execution of additional growth opportunities.

SOURCE TransAlta Renewables Inc

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/May2022/04/c9782.html

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