Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 288

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 288
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 the Governance and Risk Management section of this MD&A for further details.

| M128 |     | TransAlta Corporation |     | 2024 Integrated Report |

Management’s Discussion and Analysis Building a Diverse and Inclusive Workforce Engaging our workforce, developing our employees, creating an equitable, diverse and inclusive work environment and minimizing safety incidents are the keys to human capital value creation at TransAlta and our most material areas for management. In 2024, we enhanced our ESG performance through our efforts to promote an equitable, diverse and inclusive workforce. This section covers sustainability factors of human capital partially in alignment with guidance from the IFRS’s Integrated Reporting Framework. Performance outlined below excludes the acquisition of Heartland Generation on Dec. 4, 2024. Equity, Diversity and Inclusion TransAlta’s commitment and focus on excellence in equity, diversity and inclusion (ED&I) is found in our workplace and among our co-workerswho advocate for the values of equity and inclusion at all working levels. This commitment is outlined in our Board and Workforce Diversity Policy and Diversity and Inclusion Pledge. We believe that a strong focus on ED&I will create a culture of belonging, allowing our employees to bring their authentic selves to work where they can thrive, innovate, improve service to our customers, deliver company results and positively impact the communities that we live in. In 2024, TransAlta executed the fourth year of our five-year ED&I strategy to achieve the goals and aspirations defined in our ED&I Pledge. Gender Diversity A number of case studies have highlighted the link between gender diversity and additional business value. TransAlta is an active supporter of gender diversity as a driver for value, but also as an ethical business practice. Our commitment to gender diversity in our business is evidenced by our female participation rates on both our executive team and Board. In 2024, women made up 32 per cent of our executive team and 38 per cent of our Board. To further support female advancement, we have set targets to: (i) maintain equal pay for women in equivalent roles, (ii) achieve 50 per cent representation of women on our Board by 2030 and (iii) achieve 40 per cent representation of women among all employees by 2030. Currently, women employees represent 28 per cent of all employees. Though the majority of our operational roles are currently held by male employees, we remain committed to achieving the 40 per cent goal in this time period. In