Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 350

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 350
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 |      | 437 |   |     |      | 597 |     |      | 418 |     |      | 1,106 |     |            | 3,872 |     |       | 7,186 |   |

| (1) | Excludes impact of hedge accounting and derivatives. |

| (2) | The exchangeable debentures are due May 1, 2039 and the exchangeable preferred shares are                                                                                                                                                    
 perpetual. However, a cash payment could occur after Dec. 31, 2028, at the Company’s option, if the exchangeable securities are not exchanged by Brookfield Renewable Partners or its affiliates (collectively, Brookfield). At Brookfield’s 
 option, the exchangeable securities are currently exchangeable into an equity ownership interest in TransAlta’s Alberta hydro assets.                                                                                                        |

| (3) | Negative amount represents a receivable position or cash inflow. |

| (4) | Not recognized as a financial liability on the condensed consolidated statements of financial 
 position and excludes the impact of interest rate swaps.                                      |

| TransAlta Corporation |     | F25 |

D. Collateral I. Financial Assets Provided as Collateral At Sept. 30, 2025, the Company provided $88 million (Dec. 31, 2024 — $124 million) in cash and cash equivalents as collateral to regulated clearing agents as security for commodity trading activities. These funds are held in segregated accounts by the clearing agents. Collateral provided is included within trade and other receivables in the condensed consolidated statements of financial position. At Sept. 30, 2025, the Company provided $20 million (Dec. 31, 2024 — $21 million) in surety bonds as security for commodity trading activities. II. Financial Assets Held as Collateral At Sept. 30, 2025, the Company held $305 thousand (Dec. 31, 2024 — $9 million) in cash collateral associated with counterparty obligations. Under the terms of the contracts, the Company may be obligated to pay interest on the outstanding balances and to return the principal when the counterparties have met their contractual obligations or when the amount of the obligation declines as a result of changes in market value. Interest payable to the counterparties on the collateral received is calculated in accordance with each contract. Collateral held is related to physical and financial derivative transactions in a net asset position and is included in accounts payable and accrued liabilities in the condensed