Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 356

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 356
---
 |       |   |     |                |     |   |     |             |     |   |     |            |   (26 | ) |
| Gain on sale of assets and other                        |     |       |     |   |     |          |     |   |     |     |       |   |     |            |     |   |     |           |     |   |     |           |     |   |     |       |       |   |     |                |     |   |     |             |     |   |     |            |     4 |   |
| Earnings before income taxes                            |     |       |     |   |     |          |     |   |     |     |       |   |     |            |     |   |     |           |     |   |     |           |     |   |     |       |       |   |     |                |     |   |     |             |     |   |     |            |   370 |   |

| (1) | The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar 
 segment.                                                                                        |

| (2) | Adjusted EBITDA is not defined, has no standardized meaning under IFRS and may not be comparable 
 to similar measures presented by other issuers.                                                  |

| (3) | During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the                                                                                        
 impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. |

| F36 |     | TransAlta Corporation |

21. Related-Party Transactions Transactions with Associates In connection with the exchangeable securities issued to Brookfield, the Investment Agreement entitles Brookfield to nominate two directors to the TransAlta Board. This allows Brookfield to participate in the financial and operating policy decisions of the Company, and as such, they are considered associates of the Company. The Company may, in the normal course of operations, enter into transactions on market terms with associates Transactions with Brookfield include the following: that have been measured at exchange value and recognized in the condensed consolidated financial statements, including power purchase and sale agreements, derivative contracts and asset management fees. Transactions and balances between the Company and associates do not eliminate. Refer to Note 26 and 36 of the 2024 audited annual consolidated financial statements.

|