Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 159

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 159
---
 Consolidated Statements of Earnings.

| TransAlta Corporation |     | 2024 Integrated Report |     | F86 |

Notes to the Consolidated Financial Statements B. Deferred Share Unit (DSU) Plan Under the Share Unit Plan, members of the Board and executives may, at their option, purchase DSUs using certain components of their fees or pay. A DSU is a notional share that has the same value as one common share of the Company and fluctuates based on the changes in the value of the Company’s common shares in the marketplace. DSUs accrue dividends as additional DSUs at the same rate as dividends are paid on the Company’s common shares. DSUs are redeemable in cash and may not be redeemed until the termination or retirement of the director or executive from the Company. The Company accrues a liability and expense for the appreciation in the common share value in excess of the DSU’s purchase price and for dividend equivalents earned. The pre-taxcompensation expense related to the DSUs was $8 million in 2024 (2023 — $1 million, 2022 — nil). C. Stock Option Plan In 2024, the Company granted executive officers of the Company a total of 0.7 million stock options with a weighted average exercise price of $10.88 that vest over a three-year period and expire seven years after issuance (2023 — 0.4 million stock options at $12.02; 2022 — 0.3 million stock options at $12.66). The expense recognized relating to these grants during 2024 was approximately $1 million (2023 — approximately $1 million, 2022 — approximately $1 million). The total options outstanding and exercisable under the Stock Option Plan at Dec. 31, 2024, are outlined below:

|                          |     |                   |     |        Options outstanding |     |                                 |
| Range of exercise prices 
 ($ per share)            |     | Number of options 
     (millions)(1) |     | Weighted average remaining 
   contractual life (years) |     | Weighted average exercise price 
                   ($ per share) |
| 9.28-12.67               |     |               1.6 |     |                       4.67 |     |                           10.97 |

| (1) | Includes 0.7 million options exercisable as at Dec. 31, 2024. |

32. Employee Future Benefits A.