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

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 25
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 connection with regulatory approval of our acquisition of Heartland Generation. Energy
Capital Partners is entitled to receive the proceeds from both sales, net of certain adjustments.

Credit Facility Extension

On July 16, 2025, we executed agreements to extend our committed credit facilities totaling $2.1 billion with a syndicate of
lenders. The syndicated facility size was reduced from $1.95 billion to $1.90 billion and its maturity was extended from June 30, 2028 to June 30, 2029. Our $240 million bilateral credit facilities were extended by one year
to June 30, 2027.

Re-contractingof Ontario Wind Facilities

During the second quarter of 2025, we successfully re-contracted Melancthon 1, Melancthon 2 and Wolfe
Island through the Ontario IESO Five-Year Medium-Term 2 Energy Contract (“MT2e”) . MT2e will replace the current energy contracts when they expire, extending contract terms to April 30, 2031 for Melancthon 1 and April 30, 2034
for Melancthon 2 and Wolfe Island.

Senior Notes Offering and Term Loan Repayment

On March 24, 2025, we issued $450 million of unsecured senior notes due in 2032 with a fixed annual coupon of 5.625%. Interest is
payable semi-annually on March 24 and September 24. On March 25, 2025, we repaid our $400 million variable-rate term loan facility ahead of its maturity of September 7, 2025, using proceeds from the senior notes offering.

Concurrent Redemption of the 2029 Notes

We will issue a conditional notice of redemption to redeem all of our outstanding 2029 Notes. The redemption will be effected in accordance
with the indenture governing the 2029 Notes and is expected to be funded with the net proceeds from this offering, together with cash on hand. The redemption price will be determined in accordance with the terms of the 2029 Notes and their governing
indenture. The offering is not conditioned on the completion of the redemption of the 2029 Notes; however, the redemption will be conditioned upon the completion of the offering. The foregoing description is provided for informational purposes only
and does not constitute a notice of redemption, which will be made solely in accordance with the applicable indenture.

S-18

THE OFFERING The following