Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 366

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 366
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-stage development projects in the western U.S. Mothballing of Sundance 6 On April 1, 2025, the Company mothballed the Sundance Unit 6 facility for a period of up to two years depending on market conditions. TransAlta maintains the flexibility to return the mothballed unit to service when market fundamentals improve or opportunities to contract are secured. Declared Increase in Common Share Dividend On Feb. 19, 2025, the Company’s Board of Directors approved a $0.02 annualized increase to the common share dividend, an increase of eight per cent, and declared a dividend of $0.065 per common share payable on July 1, 2025 to shareholders of record at the close of business on June 1, 2025. The quarterly dividend of $0.065 per common share represents an annualized dividend of $0.26 per common share. On Oct. 22, 2025, the Company declared a quarterly dividend of $0.065 per common share, payable on Jan. 1, 2026. Normal Course Issuer Bid (NCIB) On May 27, 2025, the Company announced that it had received approval from the Toronto Stock Exchange to repurchase up to a maximum of 14 million common shares during the 12-monthperiod that commenced May 31, 2025 and will terminate on May 30, 2026. During the nine months ended Sept. 30, 2025, the Company purchased and cancelled a total of 1,932,800 common shares at an average price of $12.42 per common share, for a total cost of $24 million, including taxes.

| TransAlta Corporation |     | M9 |

Management’s Discussion and Analysis Operating and Financial Performance Operating Performance Availability The following table provides availability (%) by segment:

|                   |     | 3 months ended Sept. 30 |      |     |      |      |     | 9 months ended Sept. 30 |      |     |      |      |
|                   |     |                    2025 |      |     | 2024 |      |     |                    2025 |      |     | 2024 |      |
| Hydro             |     |                         | 82.9 |     |      | 94.3 |     |                         | 91.1 |     |      | 92.3 |
| Wind and Solar    |     |                         | 94