Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 398

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 398
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 which is treated as an equity investment under IFRS and our proportionate share of the net earnings is reflected as equity income on the statement of earnings under IFRS. As this investment is part of our regular power-generating        
 operations, we have included our proportionate share of adjusted EBITDA for the Skookumchuck wind facility in our total adjusted EBITDA. In addition, in the Wind and Solar adjusted results, we have included our proportionate share of revenues and 
 expenses to reflect the full operational results of this investment. We have not included adjusted EBITDA of other equity-accounted investments in our total adjusted EBITDA as it does not represent our regular power-generating operations.         |

Adjusted (Loss) Earnings before income taxes Adjusted (loss) earnings before income taxes represents segmented (loss) earnings adjusted for certain items that we believe do not reflect ongoing business performance and is an important metric for evaluating performance trends in each segment. For details of the adjustments made to (loss) earnings before income taxes (the most directly comparable IFRS measure) to calculate adjusted (loss) earnings before income taxes, refer to the Reconciliation of Non-IFRSMeasures on a Consolidated Basis by Segment section of this MD&A. Adjusted Net (Loss) Earnings attributable to common shareholders Adjusted net (loss) earnings attributable to common shareholders represents net (loss) earnings attributable to common shareholders adjusted for specific reclassifications and adjustments and their tax impact, and is an important metric for evaluating performance. For details of the reclassifications and adjustments made to net (loss) earnings attributable to common shareholders (the most directly comparable IFRS measure), please refer to the reconciliation of net (loss) earnings to adjusted net (loss) earnings attributable to common shareholders in the Reconciliation of Non-IFRSMeasures on a Consolidated Basis by Segment section of this MD&A. Adjusted Net (Loss) Earnings per common share attributable to common shareholders Adjusted net (loss) earnings per common share attributable to common shareholders is calculated as adjusted net (loss) earnings attributable to common shareholders divided by a weighted average number of common shares outstanding during the period. The measure is useful in showing the earnings per common share for our core operational results as it excludes the impact of items that do not reflect an ongoing business performance. Adjusted net (loss) earnings attributable per common share is a non-IFRSratio and the most directly comparable IFRS measure is net (loss) income per common share attributable