Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 280

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 280
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     | Market price risk and volume exposure mitigation; and |

| • |     | Monitoring of energy market design changes, price signals and applicable and available incentives. |

The Customer Solutions team at TransAlta has maintained a large portfolio of customers in Alberta across a broad range of industry segments, including commercial real estate, municipal, manufacturing, industrial, hospitality, finance and oil and gas. Our work has been recognized by our customers through an average retention rate of 92 per cent over the last three years. Across our business in Canada, the U.S. and Western Australia, we provide on-sitegeneration for large mining and industrial customers. This requires us to continually engage with these customers, ensuring that current electricity requirements are provided safely, reliably and cost-effectively. We continue to explore opportunities to develop renewable energy facilities to support customers achieving their sustainability goals and targets, such as 100 per cent renewable power targets and/or GHG emissions reduction targets. Production from renewable electricity in 2024 resulted in the avoidance of approximately 2.8 million tonnes of CO 2e for our customers.

| TransAlta Corporation |     | 2024 Integrated Report |     | M123 |

Management’s Discussion and Analysis Our experience in developing and operating power facilities is highlighted below.

| Power generation type          |     | Operating experience (years) |     |
| Hydro                          |     |                              | 113 |
| Natural Gas                    |     |                              |  74 |
| Wind                           |     |                              |  27 |
| Solar                          |     |                              |  10 |
| Battery Energy Storage Systems |     |                              |   4 |

For further details on how we support our customers’ sustainability objectives, please refer to the Enabling Innovation and Technology Adoption section of this MD&A. Human Rights TransAlta is committed to honouring domestic and internationally accepted labour standards and supports the protection of human rights of all its employees, contractors, suppliers, partners, Indigenous partners and other stakeholders. We abide by human rights and modern slavery legislation in Canada, the U.S. and Australia. We have a zero tolerance approach to discrimination based on age, disability, gender, race, religion, colour, national origin, political affiliation or veteran’s status or any other prohibited ground as defined by human rights legislation in the jurisdictions in which we operate. We afford equal opportunities for all gender identities, support the right to freedom of association and the right to organize unions and bargain collectively. We do not conduct operational human rights reviews or impact assessments, but we have governance