Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 17

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 17
---
 located in British Columbia, Alberta, Ontario, Michigan and 
 the state of Western Australia;                                                                                  |

| • |     | 9% by our Energy Transition segment, comprised of one remaining operating unit at Centralia, the Skookumchuck                         
 hydro facility, the retired Centralia unit, retired Alberta thermal units, the Highvale mine and the mine reclamation activities; and |

| • |     | 7% by our Energy Marketing segment, which generates revenue from the wholesale trading of electricity and 
 other energy-related commodities and derivatives.                                                         |

Stable Cash Flow Profile with Commitment to Contracted Cash Flow Growth Our cash flow profile is supported by long-term power purchase agreements with credit-worthy counterparties. As of September 30, 2025 approximately 51% of our total installed capacity is contracted, and contracts are primarily with strong creditworthy counterparties with a weighted average contract life of approximately 9years. As existing contracts approach expiration, we actively engage with our customers to extend offtake agreements in a mutually beneficial manner. For the Alberta portfolio, which predominantly sells power on a merchant basis, we reduce cash flow volatility by selling forward production and by hedging the cost of natural gas. For the nine months ended September 30, 2025, we hedged 6,764 GWh or 76% of production and have hedged 1,898 GWh of Q4 2025 production. The following table provides our contracted capacity by MW and as a percentage of total gross installed capacity of our facilities across the regions in which we operate as of September 30, 2025:

| As at September 30, 2025       |     | Hydro |     | Wind & Solar |     | Gas(1) |     | Energy Transition |     | Total |
| Alberta                        |     |     – |     |          336 |     |    887 |     |                 – |     | 1,223 |
| Canada, excluding Alberta      |     |    88 |     |          751 |     |    705 |     |                 – |     | 1,544 |
| U.S.                           |     |     – |     |        1,024 |     |     29 |     |               301 |     | 1,354 |
| Western Australia              |     |     – |     |           48 |     |    450 |     |                 – |     |   498 |
| Total contracted capacity (