Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 284

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 284
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. and Western Australia. This initiative has been instrumental in providing valuable insights into the rich history, culture and perspectives of Indigenous communities within the jurisdictions where we operate.

| TransAlta Corporation |     | 2024 Integrated Report |     | M125 |

Management’s Discussion and Analysis Case Study: Diamond Willow Youth Lodge To meet the unique needs of Calgary’s Indigenous youth, TransAlta has invested over $1 million since 2018 in the Diamond Willow Youth Lodge. Named after the species of willow tree used to build sacred sweat lodges, the diamond willow is known for its strength and flexibility making it ideal for creating the framework of the lodge. This accessible and safe space provides a broad spectrum of support for the culture, identity, housing, mentorship and well-being needs of Indigenous youth aged 12 to 29. In 2023, 292 youth were supported by the lodge during 829 visits. The number of attendees has been increasing steadily year-over-year since inception. Over 165 events, workshops and activities were hosted including traditional cooking, drumming groups, hide and circle camps, tipi pole harvesting and tea ceremonies. Stakeholder Relationships Fostering positive relationships with our stakeholders is important to TransAlta. Driven by our core values, we see stakeholder transparency as an integral part of our business success. We work to build relationships and understand the importance of early and regular dialogue to determine what opportunities or impacts our activities may have on local stakeholders.

Our Stakeholders To act in the best interests of the Company and optimize the balance between financial, environmental and social values of our stakeholders and TransAlta, we seek to:

| • |     | Build relationships through regular engagement with stakeholders regarding our operations, growth 
 prospects and future developments;                                                                |

| • |     | Consider feedback and make changes to project designs and plans to resolve and/or accommodate 
 concerns expressed by our stakeholders; and                                                   |

| • |     | Respond in a timely and professional manner to stakeholder inquiries and concerns and work 
 diligently to resolve issues or complaints.                                                |

Our stakeholders are identified through stakeholder mapping exercises and prospective project development or acquisition. Through decades of establishing stakeholder relationships in the areas of our facilities, we have developed a strong knowledge of who our stakeholders are and have gained understanding of our stakeholders’ issues and concerns. In many of our operating areas, we have decades of established relationships and work to maintain a consistent level of communication and trust. In newer areas, we spend time and effort on site listening and learning to ensure we