Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 115

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 115
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 following asset impairment charges (reversals):

| Year ended Dec. 31                                    |     | 2024 |     | 2023 |   |     | 2022 |   |
|:------------------------------------------------------|:----|-----:|:----|:-----|:--|:----|-----:|:--|
| Segments:                                             |     |      |     |      |   |     |      |   |
| Hydro                                                 |     |    — |     | (10  | ) |     |   21 |   |
| Wind and Solar                                        |     |    — |     | (4   | ) |     |   43 |   |
| Corporate                                             |     |    — |     | —    |   |     |   (2 | ) |
| Changes in decommissioning and restoration provisions 
 on retired assets(1)                                  |     |   24 |     | (34  | ) |     |  (53 | ) |
| Project development                                   
 costs                                                 |     |   22 |     | —    |   |     |    — |   |
| Asset impairment                                      
 charges (reversals)                                   |     |   46 |     | (48  | ) |     |    9 |   |

| (1) | Changes relate to changes in discount rates and revisions in estimated decommissioning costs on 
 retired assets in 2024, 2023 and 2022. Refer to Note 24 for further details.                    |

During 2024, the Company recognized impairment of project development costs related to projects that are no longer proceeding. Hydro During 2023, internal valuations indicated the fair value less costs of disposal for two hydro facilities exceeded the carrying value due to a contract extension and changes in power price assumptions, which favourably impacted estimated future cash flows and resulted in a recoverability test. As a result of the recoverability test, an impairment reversal of $10 million was recognized. The recoverable amounts of $70 million in total were estimated based on fair value less costs of disposal utilizing a discounted cash flow approach and are categorized as a Level III fair value measurement. During 2022, the Company recorded net impairment charges of $21 million on four hydro facilities as a result of changes in key assumptions, that included significant increases in discount rates, changes in pricing and changes in estimated future cash flows. The total recoverable amounts of $89 million for these four assets was estimated based