Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 143

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 143
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            |  96 |   |     |           | 100 |   |     |                   |  27 |   |     |             |   — |     |       | 223 |
| As at Dec. 31, 2024               |     |            | 155 |   |     |           | 121 |   |     |                   |   5 |   |     |             |   — |     |       | 281 |

| F71 |     | TransAlta Corporation |     | 2024 Integrated Report |

Notes to the Consolidated Financial Statements 22. Goodwill Goodwill acquired through business combinations has been allocated to groups of CGUs that are expected to benefit from the synergies of the acquisitions. Goodwill by segments is as follows:

| As at Dec. 31    |     | 2024 |     |     | 2023 |     |
|:-----------------|:----|:-----|----:|:----|:-----|----:|
| Hydro            |     |      | 258 |     |      | 258 |
| Wind and Solar   |     |      | 178 |     |      | 176 |
| Gas (Note 4)     |     |      |  51 |     |      |   — |
| Energy Marketing |     |      |  30 |     |      |  30 |
| Total goodwill   |     |      | 517 |     |      | 464 |

Addition to goodwill in the Gas segment in 2024 represents the excess of the purchase price over the estimated fair value of the net assets acquired in the business acquisition of Heartland. Refer to Note 4 for more details. For the purposes of the 2024 goodwill impairment review, the Company determined the recoverable amounts of the Wind and Solar segment by calculating the fair value less costs of disposal using discounted cash flow projections. In 2024, the Company relied on the recoverable amounts determined in 2022 for the Hydro and Energy Marketing segments in performing the 2024 goodwill impairment review. The recoverable amounts are based on the Company’s long-range forecasts for the periods extending to the last planned asset retirement in 2072. The resulting fair value measurements are categorized within Level III of the fair value hierarchy. No impairment of goodwill arose for any segment. The significant assumptions impacting the determination of fair value for the Wind and Solar segment, with a high degree of subjectivity, are the following