Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 177

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 177
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 in Canada, excluding Alberta. The figures exclude the contracted capacity of Planned Divestitures. Refer to the Significant and Subsequent events section. |

Approximately 52 per cent of our total installed capacity is contracted. Contracts are primarily with strong creditworthy counterparties. The following table provides the weighted average contract life by segment of our contracted and merchant facilities across the regions in which we operate as of Dec. 31, 2024:

| As at Dec. 31, 2024                             |     | Hydro |     | Wind & 
  Solar |     | Gas(1) |     | Energy     
 Transition |     | Total |
| Alberta                                         |     |     — |     |      7 |     |      2 |     | —          |     |     3 |
| Canada, excluding Alberta                       |     |    15 |     |      9 |     |      7 |     | —          |     |     8 |
| U.S.                                            |     |     — |     |     13 |     |      1 |     | —          |     |     8 |
| Western Australia                               |     |     — |     |     14 |     |     14 |     | —          |     |    14 |
| Total weighted average contract life (years)(2) |     |     1 |     |     10 |     |      4 |     | —          |     |     5 |

| (1) | Total weighted average contract life calculation of our gas facilities as at Dec. 31, 2024                                    
 includes the contracts added from the acquisition of Heartland and excludes the contracts pertaining to Planned Divestitures. |

| (2) | The contract life of merchant facilities is included as nil years. |

| TransAlta Corporation |     | 2024 Integrated Report |     | M5 |

Management’s Discussion and Analysis Highlights For the year ended Dec. 31, 2024, the Company demonstrated strong financial and operational performance. The results were within the upper range of management’s expectations due to active management of the Company’s merchant portfolio and hedging strategies. During 2024, the Company settled a higher volume of hedges at prices that were significantly above the spot market in Alberta and achieved commercial operation at the White Rock and Horizon Hill wind facilities. On Dec. 4, 2024, the Company also completed the acquisition of Heartland Generation, which added 1,747 MW