Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 53

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 53
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 transaction (as defined herein under the heading
“Covenants– Restrictions on Sales and Leasebacks” below), as at the time of determination, the present value (discounted at the rate of interest set forth or implicit in the terms of such lease,
compounded annually) of the total obligations of the lessee for rental payments during the remaining term of the lease included in such sale and leaseback transaction.

“Consolidated Net Tangible Assets” means all consolidated assets of the Corporation as shown on the most recent audited
consolidated balance sheet of the Corporation, less the aggregate of the following amounts reflected upon such balance sheet: (i) all goodwill, deferred assets, trademarks, copyrights and other similar intangible assets; (ii) to the extent
not already deducted in computing such assets and without duplication, depreciation, depletion, amortization, reserves and any other account which reflects a decrease in the value of an asset or a periodic allocation of the cost of an asset;
provided that no such deduction shall be made to the extent

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such account reflects a decrease in the value or periodic allocation of the cost of any assets referred to in (i) above; (iii) minority interests; (iv) current liabilities; and (v) assets created, developed, constructed or acquired with or in respect of which Non-RecourseDebt has been incurred, and any and all receivables, inventory, equipment, chattel paper, intangibles and other rights or collateral arising from or connected with those assets (including the shares or other ownership interests of a single purpose entity which holds only such assets and other rights and collateral arising from or connected therewith) and to which recourse of the lender of such Non-RecourseDebt is limited to the extent of the outstanding Non-RecourseDebt financing such assets. “ Consolidated Shareholders’ Equity” means, without duplication, the aggregate amount of shareholders’ equity (including, without limitation, common share capital, preferred share capital, contributed surplus and retained earnings) of the Corporation as shown on the most recent audited consolidated balance sheet of the Corporation, adjusted by the amount by which common share capital, preferred share capital and contributed surplus has been increased or decreased (as the case may be) from the date of such balance sheet to the relevant date of determination, in accordance with Generally Accepted Accounting Principles, together with the aggregate principal amount of obligations of the Corporation in respect of Preferred Securities. “ Financial Instrument Obligations” means obligations arising under: