Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 0

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 0
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Filed pursuant to General Instruction II.L. of Form F-10
File No. 333-292019 PROSPECTUS SUPPLEMENT (To the short form base shelf prospectus dated December 9, 2025)

US$400,000,000 5.875% Senior Notes due 2034 TRANSALTA CORPORATION We are offering US$400,000,000 aggregate principal amount of 5.875% senior notes due 2034 (the “ Notes”). The Notes will bear interest at the rate of 5.875% per annum. Interest on the Notes will be payable semi-annually in arrears on February 1 and August 1 of each year, beginning on August 1, 2026 (long first coupon). The Notes will mature on February 1, 2034. The effective yield on the Notes, if held to maturity, will be 5.970%. The Notes will be issued in United States dollars. At any time on or after February 1, 2029, we may redeem some or all of the Notes at the redemption prices set forth in this prospectus supplement (this “ Prospectus Supplement”), plus accrued and unpaid interest. Prior to February 1, 2029, we may redeem some or all of the Notes at a price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, plus a “make-whole” premium. In addition, prior to February 1, 2029, we may redeem up to 40% of the aggregate principal amount of the securities issued under the Indenture (as defined herein) in an amount not to exceed the amount of the proceeds of certain equity offerings at the redemption price set forth in this Prospectus Supplement, plus accrued and unpaid interest. We will also have the option to redeem the Notes in whole and not in part at 100% of the aggregate principal amount of the Notes, plus accrued and unpaid interest, in the event of certain changes to Canadian withholding tax laws or the enforcement or interpretation thereof. Upon the occurrence of a Change of Control Triggering Event (as hereinafter defined), holders of the Notes will have the right to require us to repurchase all or any part of their Notes at a repurchase price equal to 101% of the principal amount of the Notes, plus accrued and unpaid interest. The Notes will be our senior unsecured obligations and will rank equally in right of payment with all of our existing and future senior indebtedness and senior in