Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 138

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 138
---
 |     |      |   — |     |      |   — |   |     |      |   — |   |     |            |     — |   |     |       |    49 |
| Total                                           |     |      | 1,590 |   |     |      | 418 |   |     |      | 571 |     |      | 528 |   |     |      | 982 |   |     |            | 3,192 |   |     |       | 7,281 |

| (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. (Note 26).                                                                                            |

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

| (4) | Not recognized as a financial liability on the Consolidated Statements of Financial Position and 
 excludes the impact of interest rate swaps.                                                      |

| F63 |     | TransAlta Corporation |     | 2024 Integrated Report |

Notes to the Consolidated Financial Statements IV. Equity Price Risk Total Return Swaps The Company has certain compensation, deferred and restricted share unit programs, the values of which depend on the common share price of the Company. The Company has fixed a portion of the settlement cost of these programs by entering into a total return swap for which hedge accounting has not been applied. The total return swap is cash settled every quarter based upon the difference between the fixed price and the market price of the Company’s common shares at the end of each quarter. D. Hedging Instruments – Uncertainty of Future Cash Flows The following table outlines the terms and conditions of derivative hedging instruments and how they affect the amount, timing and uncertainty of future cash flows:

|                                    |     | Maturity |       |     |      |   |     |      |   |     |      |   |     |      |   |     |      |   |
|                                    |     |     2025 |       |     | 2026 |