Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 186

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 186
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 per cent, compared to 2022, primarily due to:

| • |     | Lower natural gas commodity pricing; partially offset by |

| • |     | Higher fuel usage in both the Gas and Energy Transition segments. |

Carbon compliance coststotalling $112 million, increased by $34 million, or 44 per cent, compared to 2022, primarily due to:

| • |     | An increase in the carbon price per tonne from $50 per tonne in 2022 to $65 per tonne in 2023; |

| • |     | Higher production in the Gas segment; and |

| • |     | No utilization of emission credits to settle GHG obligations as was done in the prior year. |

OM&A expensestotalling $539 million, increased by $18 million, or three per cent, compared to 2022, primarily due to:

| • |     | Higher spending on strategic and growth initiatives; |

| • |     | Higher costs associated with the relocation of the Company’s head office; and |

| • |     | Increased costs due to inflationary pressures. |

Depreciation and amortizationtotalling $621 million, increased by $22 million, or four per cent, compared to 2022, primarily due to:

| • |     | Revisions to useful lives of certain facilities; and |

| • |     | Commercial operation of new facilities. |

Asset impairment reversalstotalling $48 million, increased by $57 million, compared to an asset impairment charge in 2022, primarily due to:

| • |     | decommissioning and restoration provisions for retired assets being favourably impacted by a change                                       
 in timing of expected cash outflows, partially offset by lower discount rates, resulting in a net impairment reversal of $34 million; and |

| • |     | A Hydro segment impairment reversal of $10 million due to a contract extension and favourable 
 changes in power price assumptions.                                                           |

Interest incometotalling $59 million, increased by $35 million, or 146 per cent, compared to 2022, primarily due to higher cash balances and favourable interest rates. Earnings before income taxestotalling $880 million, increased by $527 million, or 149 per cent, compared to 2022, due to the above noted items. Income tax expensetotalling $84 million, decreased by $108 million, or 56 per cent, compared to 2022, due to a recovery