Company: TSLTF
Filing Date: 2025-02-20
Form Type: 40-F
Source: 0001144800-25-000006
Chunk: 9

Company: TRANSALTA CORP
Filing Date: 2025-02-20
Form: 40-F
Chunk 9
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Alta, including information obtained from third-party sources. Actual results may differ materially from those predicted.

Factors that may adversely impact what is expressed or implied by forward-looking statements contained in this Form 40-F (or incorporated herein by reference) include, but are not limited to:

• Fluctuations in power prices;

• Changes in supply and demand for electricity;

• Our ability to contract our electricity generation for prices that will provide expected returns;

• Our ability to replace contracts as they expire;

• Risks associated with development projects and acquisitions;

• Any difficulty raising needed capital in the future on reasonable terms or at all;

• Our ability to achieve our targets relating to environmental, social and governance (ESG) performance;

• Long-term commitments on gas transportation capacity that may not be fully utilized over time;

• Changes to the legislative, regulatory and political environments;

• Environmental requirements and changes in, or liabilities under, these requirements;

• Operational risks involving our facilities, including unplanned outages and equipment failure;

• Disruptions in the transmission and distribution of electricity;

• Reductions in production;

• Impairments and/or writedowns of assets;

• Adverse impacts on our information technology systems and our internal control systems, including increased cybersecurity threats;

• Commodity risk management and energy trading risks;

• Reduced labour availability and ability to continue to staff our operations and facilities;

• Disruptions to our supply chains;

• Climate-change related risks;

• Reductions to our generating units' relative efficiency or capacity factors;

• General economic risks, including deterioration of equity and debt markets, increasing interest rates or rising inflation;

• General domestic and international economic and political developments, including potential trade tariffs;

• Industry risk and competition;

• Counterparty credit risk;

• Inadequacy or unavailability of insurance coverage;

• Increases in the Company's income taxes and any risk of reassessments;

• Legal, regulatory and contractual disputes and proceedings involving the Company;

• Reliance on key personnel; and

• Labour relations matters.

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The foregoing risk factors, among others, are described in further detail under the heading "Governance and Risk Management" section of our Management Discussion and Analysis for the year ended Dec. 31, 2024, filed as Exhibit 99.2.

Readers are urged to consider these factors carefully when evaluating the forward-looking statements and are cautioned not to place undue reliance on them. The forward-looking statements included in this Form 40-F are made only as of the date here