TransAlta Renewables Reports Second Quarter 2015 Results - Seite 2

Summary of Results

Q2 2015 compared to Q2 2014

• Comparable EBITDA of $51.7 million compared to $35.2 million for the same period last year
• Funds from operations of $43.4 million compared to $26.9 million for the same period last year
• Renewable energy production⁽²⁾ of 698 GWh, compared to 743 GWh for the same period last year

Year-to-Date 2015

• Comparable EBITDA of $105.5 million compared to $90.9 million for the same period last year
• Funds from operations of $88.0 million compared to $73.3 million for the same period last year
• Renewable energy production⁽²⁾ of 1,656 GWh compared to 1,724 GWh for the same period last year

The following table depicts key financial results and statistical operating data:

Second Quarter 2015 Highlights

In $CAD thousands, unless otherwise stated	3 months ended June 30, 2015	3 months ended June 30, 2014	6 months ended June 30, 2015	6 months ended June 30, 2014
Renewable energy production (GWh)	698	743	1,656	1,724
Revenue	51,277	50,013	119,433	117,978
Net earnings attributable to common shareholders	7,167	5,890	26,817	27,024
Comparable net earnings attributable to common shareholders	22,217	5,890	42,093	27,024
Comparable EBITDA	51,680	35,194	105,520	90,856
Funds from operations	43,402	26,950	88,001	73,304
Cash flow from operating activities	48,854	35,782	89,937	80,992
Cash available for distribution	38,983	22,936	69,266	39,771
Net earnings per share attributable to common shareholders, basic and diluted	0.04	0.05	0.19	0.24
Comparable earnings per share	0.14	0.05	0.31	0.24
Funds from operations per share	0.27	0.23	0.64	0.64
Cash available for distribution per share	0.24	0.20	0.50	0.35
Dividends paid per common share	0.20	0.19	0.39	0.38

(2) Includes production from our economic interest in the Wyoming Wind Farm and excludes Australian gas-fired generation

A complete copy of TransAlta Renewables' second quarter report including MD&A and unaudited financial statements is available through TransAlta Renewables' website at www.transaltarenewables.com or through SEDAR at www.sedar.com.