Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 247

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 247
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 of certain aspects of the Company’s response to climate change is delegated to the Board, its Governance, Safety and Sustainability Committee (GSSC), Audit, Finance and Risk Committee (AFRC), and Investment Performance Committee (IPC). Meeting quarterly, the GSSC assists the Board in monitoring and assessing compliance with climate change regulation and reporting. The GSSC receives management reports on changes in climate-related legislation and the potential impact of policy developments on TransAlta’s business. The GSSC also supports the Board in overseeing Company-wide climate change strategies, policies and practices. The GSSC also reviews environmental protection guidelines, including with respect to GHG mitigation, and considers whether our environmental procedures are being implemented effectively. The AFRC and IPC also play an important role in managing TransAlta’s climate-related risks and opportunities. The AFRC assists the Board in overseeing the integrity of our consolidated financial statements and considers climate risks and opportunities related to our financial decision-making. The AFRC is also responsible for approving our Commodity and Financial Exposure Management policies and reviewing quarterly ERM reporting. The IPC considers and assesses risks related to capital investment projects, including overseeing climate risk assessments and mitigation plans. The Board reviews and updates the Company’s strategy annually. In 2024, the Board’s strategic planning sessions included climate-related issues considering growth initiatives and strategies, capital allocation, policy development and other matters. Our Board is comprised of individuals with a mix of skills, knowledge and experience critical to our strategy success and business growth. In 2024, three of our 12 Board members identified environment/climate change among their top four relevant competencies. Given the breadth of experience and skills of each director, the Board skills matrix lists only the top four competencies of each director nominee, based on the Board’s assessment and each director’s self-evaluation. Criteria used to assess competence on climate-related issues include the director’s knowledge of corporate responsibility practices and sustainable development practices, including as they pertain to climate change. For further information regarding Board members competence on climate-related issues, refer to TransAlta’s Management Proxy Circular. Role of Senior Management TransAlta’s President and CEO maintains the highest level of oversight on climate-related issues at the executive level. Senior management of the Company, including our President and CEO, provide the Board with updates on climate-related risks and opportunities to inform business strategy, mitigate risk, and ensure alignment with TransAlta’s GHG emissions reduction goals. Our business units and corporate functions work closely together to support the executive team in understanding climate