Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 216

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 216
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          |   400 |     |             | 220 |     |          |   — |     |           |   180 |     |          | N/A     |
| Total                          
 Non-Committed                  |     |          |   400 |     |             | 220 |     |          |   — |     |           |   180 |     |          |         |

| (1) | TransAlta has obligations to issue letters of credit and cash collateral to secure potential                                                                                                                                                        
 liabilities to certain parties, including those related to potential environmental obligations, commodity risk management and hedging activities, pension plan obligations, construction projects and purchase obligations. Letters of credit drawn 
 against the non-committed facilities reduce available capacity under the committed syndicated credit facilities.                                                                                                                                    |

| M52 |     | TransAlta Corporation |     | 2024 Integrated Report |

Management’s Discussion and Analysis In the second quarter of 2024, the $400 million Term Facility was renewed with the maturity extended by one year to September 2025. The $1,900 syndicated credit facility and $240 million bilateral credit facilities were also extended by one year to June 2028 and June 2026, respectively. As part of the Heartland acquisition on Dec. 4, 2024, the Company assumed a $232 million drawn term facility and $25 million revolving facility with a syndicate of banks, (collectively Heartland Credit Facilities). At Dec. 31, 2024 the drawn term facility was $224 million. The $25 million revolving facility is undrawn and available for working capital and general corporate purposes. The maturity date for the Heartland Credit Facilities is Dec. 22, 2027. The Heartland Credit Facilities also include a $27 million debt service reserve letter of credit facility. As part of the Heartland acquisition, the Company has access to a $50 million unsecured letter of credit facility with two Canadian banks, which is supported by a performance security guarantee from Export Development Canada (EDC). The Heartland Credit Facilities are not subject to any maintenance or financial covenants but do contain certain covenants that limit Heartland’s ability to, among other things, incur additional indebtedness, create or permit liens to exist, make certain acquisitions or dispositions, make distributions and enter into certain hedging agreements. Non-RecourseDebt and Other The Melancthon Wolfe Wind LP, Pingston Power Inc., TAPC Holdings LP, New Richmond Wind