Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 156

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 156
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10.59 |     |     11.49 |
| Total cost (millions)          |     |        143 |     |        87 |
| Book value of shares cancelled |     |        146 |     |        80 |
| Amount                         
 recorded in deficit            |     |          3 |     |        -7 |

2024 On May 27, 2024, the Company announced that it received approval from the Toronto Stock Exchange (TSX) to repurchase up to a maximum of 14 million common shares during the 12-monthperiod that commenced May 31, 2024, and terminates May 30, 2025. Any common shares purchased under the NCIB will be cancelled. 2023 On May 26, 2023, the TSX accepted the notice filed by the Company to renew its NCIB for a portion of its common shares. On Dec. 19, 2023, the Company entered into an Automatic Share Purchase Plan (ASPP) that permits an independent broker to repurchase shares under the NCIB during the first quarter blackout period through to the end of the ASPP. As at Dec. 31, 2023, the Company recognized a

| TransAlta Corporation |     | 2024 Integrated Report |     | F82 |

Notes to the Consolidated Financial Statements provision of $19 million for the repurchase of common shares under the ASPP within accounts payables and accrued liabilities as an estimate of the maximum number of shares that could be repurchased during the blackout period. The provision was settled during 2024. C. Shareholder Rights Plan The Company initially adopted the Shareholder Rights Plan in 1992, which was amended and restated on April 28, 2022. As required, the Shareholder Rights Plan must be put before the Company’s shareholders every three years for approval. It was last approved on April 28, 2022, and will need to be approved at the annual meeting of shareholders in 2025. The primary objective of the Shareholder Rights Plan is to encourage a potential acquirer to meet certain minimum standards designed to promote the fair and equal treatment of all common shareholders. When an acquiring shareholder acquires 20 per cent or more of the Company’s common shares, except in limited circumstances including by way of a “permitted bid” or a “competing permitted bid” (as defined in the Shareholder Rights Plan), the rights granted under the Shareholder Rights Plan become exerc