Energy Impact Partners ("EIP") Investment During the second quarter of 2022, The Company has entered into a commitment to invest US$25 million over the next four years in EIP's Deep Decarbonization Frontier Fund 1 (the "Frontier Fund") that will invest in early-stage, innovative technology companies that will accelerate the transition to net-zero greenhouse gas emissions. TransAlta's investment in the Frontier Fund provides the Company with the opportunity to identify, pilot, commercialize and bring to market emerging technologies that will support its decarbonization goals. MSCI Environmental, Social and Governance ("ESG") Rating Upgrade During the second quarter of 2022, TransAlta's MSCI ESG Rating was upgraded to 'A' from 'BBB'.