Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 121

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 121
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 as at Dec. 31, 2023      |        |
|:----------------------|:----|:---------------------------------|:----|:-------------------------|:-------|:----|:-------------------------|:-------|
| TransAlta             
 Cogeneration LP       |     | Canadian Power Holdings Inc.     |     |                          | 49.99% |     |                          | 49.99% |
| Kent Hills Wind LP    |     | Natural Forces Technologies Inc. |     |                          | 17%    |     |                          | 17%    |
| TransAlta             
 Renewables Inc.       |     | Public shareholders              |     |                          | nil    |     |                          | nil(1) |

| (1) | Non-controlling interest from Jan. 1, 2023 to Oct. 4, 2023 
 was 39.9%.                                                 |

TransAlta Cogeneration, LP (TA Cogen) operates a portfolio of cogeneration facilities in Canada and owns 50 per cent of Sheerness, a dual-fuel generating facility. Kent Hills Wind LP, a subsidiary, owns and operates the 167 MW Kent Hills (1, 2 and 3) wind facilities located in New Brunswick. TransAlta Renewables Inc. (TransAlta Renewables) was previously a non-whollyowned publicly traded entity that operated a portfolio of gas and renewable power generation facilities and owned economic interests in various other gas and renewable facilities of the Company. On Oct. 5, 2023, the Company acquired all of the outstanding common shares of TransAlta Renewables not already owned, directly or indirectly, by TransAlta and certain of its affiliates. Summarized financial information relating to subsidiaries with significant non-controllinginterests is as follows: TA Cogen

| Year ended Dec. 31                            |     | 2024 |     |     | 2023 |     |     | 2022 |     |
|:----------------------------------------------|:----|:-----|----:|:----|:-----|----:|:----|:-----|----:|
| Revenues                                      |     |      | 167 |     |      | 290 |     |      | 347 |
| Net earnings and total comprehensive income   |     |      |   9 |     |      | 121 |     |      | 143 |
| Amounts attributable to the                   
 non-controlling interest: