Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 180

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 180
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,950 |     | 86%        |
| Gas                |     |     12,317 |     |            |     |            |     |     11,873 |     |            |     |            |     |     11,448 |     |            |     |            |
| Energy Transition  |     |      2,822 |     |            |     |            |     |      4,144 |     |            |     |            |     |      3,574 |     |            |     |            |
| Total              |     |     22,811 |     |            |     |            |     |     22,029 |     |            |     |            |     |     21,258 |     |            |     |            |

| TransAlta Corporation |     | 2024 Integrated Report |     | M7 |

Management’s Discussion and Analysis

In addition to availability, the Company uses LTA generation as another indicator of performance for the renewable facilities whereby actual production levels are compared against the expected long-term average. In the short term, for each of the Hydro and Wind and Solar segments, the conditions will vary from one period to the next. Over longer durations, facilities are expected to produce in line with their long-term averages, which is broadly considered a reliable indicator of performance. LTA generation is calculated on an annualized basis from the average annual energy yield predicted from our simulation model based on historical resource data performed over a period of typically greater than 25 years. The LTA generation for Gas and Energy Transition is not applicable as these facilities are dispatchable and their production is largely dependent on market conditions and merchant demand. 2024 versus 2023 Total production for 2024 increased by 782 GWh, or four per cent, compared to 2023, primarily due to:

| • |     | Production from new facilities, including the White Rock West and East wind facilities commissioned                                                                           
 in January and April 2024, respectively, the Horizon Hill wind facility commissioned in May 2024, and the Northern Goldfields solar facilities commissioned in November 2023; |

| • |     | Production from the facilities acquired with Heartland; |

| • |     | Favourable market conditions in the Ontario wholesale power market that enabled higher dispatch at      
 the Sarnia facility in the Gas segment that resulted in higher merchant production to the Ontario grid; |

| • |     | The return to service of the Kent