Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 71

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 71
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us Supplement if any of the Notes are purchased. In the event of default by an underwriter, the underwriting agreement provides that, in certain circumstances, purchase commitments of the non-defaultingunderwriters may be increased or the underwriting agreement may be terminated. The obligations of the underwriters under the underwriting agreement may also be terminated upon the occurrence of certain stated events specified in the underwriting agreement including “regulatory out”, “litigation out”, “disaster out” and “material change out” provisions. The underwriting agreement provides that the obligations of the underwriters to purchase the Notes are subject to approval of legal matters by counsel and to other conditions. The underwriters propose to offer the Notes directly to the public at the public offering price set forth on the cover page of this Prospectus Supplement. After the underwriters have made a reasonable effort to sell all of the Notes offered by this Prospectus Supplement at the price set forth on the cover page of this Prospectus Supplement, the offering price of the Notes may be decreased and may be further changed from time to time to an amount not greater than the price set forth on the cover page of this Prospectus Supplement. Any such reduction will not affect the proceeds we receive pursuant to the offering. The underwriting agreement provides that, in consideration of the services of the underwriters in connection with the offering of Notes, we will pay the underwriters a commission equal to 1.25% of the S-51

principal amount of Notes sold pursuant to the offering, for an aggregate commission payable by us of U.S.$5.0 million. The underwriters’ commission is payable on the closing of the
offering.

The terms of the offering were established through negotiations between us and the underwriters.

We have agreed to indemnify the underwriters against certain liabilities, including liabilities under the U.S. Securities Act, or to
contribute to payments the underwriters may be required to make because of any such liabilities.

In connection with this offering, the
Representative may purchase and sell Notes in the open market. These transactions may include over-allotment, syndicate covering transactions and stabilizing transactions. Over-allotment involves syndicate sales of the Notes in excess of the
principal amount of the Notes to be purchased by the underwriters in this offering, which creates a syndicate short position. Syndicate covering transactions involve purchases of the Notes in the open market after the distribution has been completed
in order to cover syndicate short positions. Stabilizing transactions consist of