Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 33

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 33
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 redemption date). “ Business Day” means each day that is not a Saturday, Sunday or other day on which banking institutions in New York, New York, Calgary, Alberta or another place of payment are authorized or required by law to close. “ Equity Offering” means any public or private sale of capital stock of the Corporation made on a primary basis by the Corporation (other than (a) capital stock that is mandatorily redeemable or otherwise required to be repurchased at the option of the holder thereof on or prior to the date that is 91 days after the date on which the Notes mature and (b) any sale to a Subsidiary of the Corporation). “ Make Whole Premium” means, with respect to a Note as of any redemption date for such Note whose redemption price may be determined by reference to the Make Whole Premium, the excess, if any, of (1) the present value as of the applicable redemption date of (a) the redemption price of such Note at February 1, 2029 (such redemption price being set forth in the first full paragraph of this “ – Optional Redemption” section) plus (b) any required interest payments due on such Note through February 1, 2029 (except for accrued and unpaid interest to, but not including, the applicable redemption date), computed using a discount rate equal to the Treasury Rate plus 50 basis points, discounted to the redemption date on a semi-annual basis (assuming a 360-dayyear consisting of twelve 30-daymonths), over (2) the then-outstanding principal amount of such Note. S-28

“Treasury Rate” means, with respect to any redemption date for any Note
whose redemption price may be determined by reference to the Make Whole Premium, the yield to maturity as of the redemption date of United States Treasury securities with a constant maturity (as compiled and published in the most recent Selected
Interest Rates (Daily)–H.15 that has become publicly available at least two Business Days prior to such date (or, if such statistical release is no longer published, any publicly available source of similar market data selected by the
Corporation)) most nearly equal to the period from such date to February 1, 2029; provided, that if such period is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the
Corporation shall obtain the Treasury Rate by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly