Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 32

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 32
---
S-27

relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date), if redeemed during the twelve-monthperiod beginning on February 1 of the years indicated below:

| Year                |     | Percentage |
| 2029                |     | 102.9375%  |
| 2030                |     | 101.46875% |
| 2031 and thereafter |     | 100%       |

At any time prior to February 1, 2029, the Corporation may, at its option on one or more occasions redeem up to 40% of the aggregate principal amount of the securities issued under the Indenture, upon notice as described under “ – Selection and Notice”, at a redemption price of 105.875% of the principal amount, plus accrued and unpaid interest, if any, to, but not including, the applicable redemption date (subject to the right of holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date), with an amount of cash not greater than the net cash proceeds of one or more Equity Offerings by the Corporation, provided, that for purposes of calculating the principal amount of the Notes able to be redeemed with such cash proceeds of such Equity Offering or Equity Offerings, such amount shall include only the principal amount of the Notes to be redeemed plus the premium on such Notes to be redeemed, provided further that: (1) at least 60% of the aggregate principal amount of the securities issued under the Indenture remains outstanding immediately after the occurrence of such redemption (excluding any such securities held by the Corporation and its Subsidiaries); and (2) the redemption occurs within 180 days of the date of the closing of the related Equity Offering. In addition, at any time prior to February 1, 2029, the Corporation may, at its option on one or more occasions, redeem all or a part of the Notes, upon notice as described under “ – Selection and Notice”, at a redemption price equal to the sum of: (1) 100% of the principal amount thereof, and (2) the Make Whole Premium (as defined herein) as of the applicable redemption date, plus accrued and unpaid interest, if any, to, but not including, the applicable redemption date (subject to the right of holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the