Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 314

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 314
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 their operation. Shifts in weather or climate patterns, seasonable precipitation, the timing and rate of melting, run-offand other factors beyond our control may reduce the water flow to our facilities. Any material reduction in the water flow to our facilities would limit our ability to produce and market electricity from these facilities and could have a material adverse effect on us. There is an increasing level of regulation respecting the use, treatment and discharge of water, and respecting the licensing of water rights in jurisdictions where we operate. Any such

change in regulations could have a material adverse effect on us. Availability or disruption of fuel supply to our thermal plants could have an adverse impact on the operation of our facilities and our financial condition. Our gas facilities rely on having adequate supplies of natural gas and our Centralia facility requires adequate supplies of coal to run the facility reliably and at full capacity. As a result, we face the risk of not having adequate fuel supplies available due to insufficient natural gas transportation service, disruptions in fuel supplies due to weather, strikes, lockouts, or breakdowns of equipment, the timing of receiving regulatory approvals or we could be materially adversely affected if the cost of fuel that we must buy to generate electricity increases to a greater degree than the price that we can obtain for the electricity that we sell. Several factors affect the price of fuel, many of which are beyond our control, including:

| • |     | Prevailing market prices for fuel; |

| • |     | Global demand for energy products; |

| • |     | The cost of carbon and other environmental concerns; |

| • |     | Weather-related disruptions affecting the ability to deliver fuels or near-term demand for fuels; |

| • |     | Increases in the supply of energy products in the wholesale power markets; |

| • |     | Political instability, including the war in Ukraine; |

| • |     | The extent of fuel transportation capacity, cost of fuel transportation service into our markets or 
 potential rail strikes; and                                                                         |

| • |     | The cost of mining or extraction that, in turn, depends on various factors such as labour market 
 pressures, equipment replacement costs and permitting.                                           |

Changes in any of these factors may increase our cost of producing power or decrease the amount of revenue received from the sale of power, which could have a material adverse effect on us. In the event the Company secures more natural gas than required to operate its facilities, the Company may have difficulty reselling such natural gas and it could be exposed to the market price for natural gas