Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 246

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 246
---
 generation capacity, while converting 1,659 MW to natural gas. Comparatively, our converted natural gas units’ CO 2intensity is approximately 57 per cent less than coal-fired generation. Repurposing these facilities rather than decommissioning them reduces the cost and emissions associated with new construction, and aligns with the UN SDGs, specifically “Goal 9: Industry, Innovation and Infrastructure.” Completed conversions and the closure of our Highvale coal mine also contribute to the goals of the Powering Past Coal Alliance, which TransAlta joined in 2021 at COP26. In 2025, we plan to cease coal-fired operations at our sole remaining coal unit, located in the U.S., to complete TransAlta’s transition away from coal-fired electricity generation. We engage with policymakers and stakeholders involved in the energy transition to ensure that parties understand the need to maintain reliable, sustainable and affordable energy as countries move to net-zeroelectricity systems. At TransAlta, we plan to continue investing in renewables and assessing the best options to deliver energy storage.

| M92 |     | TransAlta Corporation |     | 2024 Integrated Report |

Management’s Discussion and Analysis At the same time, we believe that natural gas plays an essential role in the electricity sector, providing critical reliable, dispatchable generation to support current systems demands. Climate Transition Plan A climate-related transition plan describes how a company aims to minimize climate-related risks and increase opportunities, in alignment with IFRS S2 and TCFD. In 2024, TransAlta updated its Climate Transition Plan, which outlines our approach to reducing operational and value chain emissions with the target to deliver net-zerooperations by 2045. Our Climate Transition Plan includes sustainable finance and inclusive transition actions that reflect TransAlta’s commitment to a progress toward a lower-carbon economy. For further information, refer to Sustainable Finance in the Transitioning Our Energy Mix section of this MD&A and Inclusive Transition in the Engaging with Our Stakeholders to Create Positive Relationships section of this MD&A. Our Climate Transition Plan defines TransAlta’s past, short- term (2025-2027) and medium- to long-term actions (beyond 2028). For each of these actions, we assessed our ability to control (C) intended outcomes, partner (P) with stakeholders to drive outcomes or influence (I) outcomes that will help us achieve our decarbonization targets. The highest level of climate-change oversight, including the actions of our Climate Transition Plan, is