Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 111

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 111
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 Company. The consideration paid totalled $1.3 billion, comprising $800 million of cash and 46 million common shares of the Company valued at $514 million, based on an $11.06 closing price of the Company’s shares on the Toronto Stock Exchange on Oct. 4, 2023. Transaction costs of $11 million incurred to effect the acquisition have been charged, net of income tax, against common shares ($4 million) and deficit ($7 million) on closing of the acquisition. Since the Company retained control of TransAlta Renewables, the acquisition was accounted for as an equity transaction. On closing of the transaction, non-controllinginterests was reduced by $630 million and accumulated other comprehensive loss increased by $64 million to eliminate the balances previously attributed to non-controllinginterest holders of TransAlta Renewables. The difference between consideration paid and these amounts was recognized in deficit. The Company’s syndicated credit facilities were amended to effectively consolidate the TransAlta Renewables syndicated credit facility and non-committeddemand facility into the TransAlta credit facilities. The cash drawings on the TransAlta Renewables’ syndicated credit facility were repaid and the outstanding letters of credit were transferred to the TransAlta non-committeddemand facility. The TransAlta Renewables’ credit facilities were then terminated. This resulted in the TransAlta syndicated credit facility increasing by $700 million to approximately $2.0 billion. Refer to Note 25.

| TransAlta Corporation |     | 2024 Integrated Report |     | F32 |

Notes to the Consolidated Financial Statements 5. Revenue A. Disaggregation of Revenue The majority of the Company’s revenues are derived from the sale of power, capacity and environmental and tax attributes, leasing of power facilities and from asset optimization activities, which the Company disaggregates into the following groups for the purpose of determining how economic factors affect the recognition of revenue.

| Year ended Dec. 31, 2024                     |     | Hydro |     |     | Wind and 
 Solar    |     |   |     | Gas |       |     | Energy     
 Transition |     |     | Energy Marketing |     |     | Corporate(1) |     |   |     | Total |       |
| Revenues from contracts with customers       |     |       |     |     |          |     |   |     |     |       |     |            |     |     |                  |     |     |              |     |   |     |