Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 262

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 262
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 renewable energy fleet. This supports our goal to deliver on our customers’ needs for renewable electricity. Since 2020, we have issued $726 million in green bonds and converted our four-year, $2.0 billion revolving credit facility, into a sustainability-linked loan. In 2022, TransAlta issued US$400 million ($533 million) in Senior Green Bonds, and an amount equal to the net proceeds from the bonds has been allocated to finance or refinance new and/or existing eligible green projects. The bonds were issued under TransAlta’s Green Bond Framework, which aligns with the Green Bond Principles published by the International Capital Market Association. For further information, refer to Green Bond Framework in the Shareholder Information section of the Investor Centre on our website. In 2021, TransAlta converted an existing $1.3 billion syndicated revolving credit facility into a sustainability-linked loan. The loan aligns the cost of borrowing to the Company’s GHG emissions reductions and gender diversity targets. Sustainability-linked loans are any types of loan instruments and/or contingent facilities (such as bonding lines, guarantee lines or letters of credit) that incentivize the borrower’s achievement of ambitious, predetermined sustainability performance objectives. The summary below shows the carrying value of the issued green bonds and the total committed facility size of our ESG financial operations portfolio.

| As at Dec. 31 (in millions of Canadian dollars) |     | 2024 |       |     | 2023 |       |     | 2022 |       |
| Green bonds (1)                                 |     |      |   726 |     |      |   684 |     |      |   703 |
| Sustainability-linked loans                     |     |      | 1,950 |     |      | 1,950 |     |      | 1,250 |

| (1) | Green bonds are related to the Senior Green Bonds issued in 2022. |

| TransAlta Corporation |     | 2024 Integrated Report |     | M109 |

Management’s Discussion and Analysis Climate-Related Financial Metrics The results of TransAlta’s 2021 climate-related scenario analysis, aligning with a 1.5°C warmer world, have shown that opportunities to grow the renewable fleet exist across all scenarios and locations. Our revenue from renewable energy generation (hydro, wind and solar) in 2024 was $839 million (2023 – $902 million). In 2024, our growth capital expenditures for renewable energy generation were $61