Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 339

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 339
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, inflation and commodity prices, and changes in economic conditions, legislation and regulations. In the process of applying the Company’s accounting policies, management has to make judgments and estimates about matters that are highly uncertain at the time the estimates are made and that could significantly affect the amounts recognized in the unaudited interim condensed consolidated financial statements. Different estimates with respect to key variables used in the calculations, or changes to estimates, could potentially have a material impact on the Company’s financial position or performance. During the nine months ended Sept. 30, 2025, revisions to the fair values of Assets held for sale and Contingent consideration payable were made based on new information obtained during the period. Refer to Note 5. During the three months ended Sept. 30, 2025, for the purposes of the 2025 goodwill impairment review, the Company determined the recoverable amounts of Hydro, Wind and Solar, Gas and Energy Marketing segments by calculating the fair value less costs of disposal using discounted cash flow

| F6 |     | TransAlta Corporation |

projections. The recoverable amounts are based on the Company’s long-range forecasts for the periods extending to the last planned asset retirement in 2086. The resulting fair value measurements are categorized within Level III of the fair value hierarchy. No impairment of goodwill arose for any segment. During three and nine months ended Sept. 30, 2025, there were no significant changes in estimates, however, significant estimation uncertainty and judgment is applied in determining the recoverable amount of the Hydro, Wind and Solar, Gas and Energy Marketing segments, due to the sensitivity of the significant assumptions to the future cash flows and the effect that changes in these assumptions would have on the recoverable amount. Refer to Note 2(Q)(II) of the Company’s 2024 audited annual consolidated financial statements for further details on the significant accounting judgments and key sources of estimation uncertainty. 2. Accounting Changes The accounting policies adopted in the preparation of the unaudited interim condensed consolidated financial statements are consistent with those followed in the preparation of the Company’s annual consolidated financial statements for the year ended Dec. 31, 2024. A. Future Accounting Changes The Company closely monitors both new accounting standards and amendments to existing accounting standards issued by the International Accounting Standards Board (IASB). The following standards have been issued but are not yet in effect. Amendments to IFRS 7 and IFRS 9 — Nature- Dependent Electricity Contracts On Dec. 18, 2024