Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 125

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 125
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 2024, are as follows: Level I – $12 million net liability (Dec. 31, 2023 – $13 million net liability), Level II – $2 million net liability (Dec. 31, 2023 – $244 million net liability) and Level III – $153 million net liability (Dec. 31, 2023 – $147 million net liability). Significant changes in commodity net risk management assets (liabilities) during the year ended Dec. 31, 2024, are primarily attributable to contract settlements and volatility in market prices across multiple markets on both existing contracts and new contracts.

| F49 |     | TransAlta Corporation |     | 2024 Integrated Report |

Notes to the Consolidated Financial Statements The following table summarizes the key factors impacting the fair value of the Level III commodity risk management assets and liabilities by classification during the years ended Dec. 31, 2024 and 2023, respectively:

|                                                                                    |     | Year ended Dec. 31, 
 2024                |   |     |           |      |   |     |       |      |   |     | Year ended Dec. 31, 
 2023                |      |   |     |           |      |   |     |       |      |   |
|:-----------------------------------------------------------------------------------|:----|:--------------------|:--|:----|:----------|-----:|:--|:----|:------|-----:|:--|:----|:--------------------|-----:|:--|:----|:----------|-----:|:--|:----|:------|-----:|:--|
|                                                                                    |     | Hedge               |   |     | Non-hedge |      |   |     | Total |      |   |     | Hedge               |      |   |     | Non-hedge |      |   |     | Total |      |   |
| Opening balance                                                                    |     |                     | — |     |           | (147 | ) |     |       | (147 | ) |     |                     | (347 | ) |     |           | (435 | ) |     |       | (782 | ) |
| Changes attributable to:                                                           |     |                     |   |     |           |      |   |     |       |      |   |     |                     |      |   |     |           |      |   |     |       |      |   |
| New contracts added(1)