Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 43

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 43
---
                                                                    
 person on the Notes if such payment can be made to such person without such withholding by at least one other paying agent the identity of which is provided to such person; |

| (f) | for or on account of any Canadian Taxes which are payable otherwise than by withholding from a payment on the 
 Notes;                                                                                                        |

| (g) | to any person in respect of whom such Canadian Taxes are required to be withheld or deducted as a result of                                                                                  
 such person being a “specified non-resident shareholder” of the Corporation (within the meaning of subsection 18(5) of the Tax Act) at the time of the payment or such person not dealing at 
 arm’s length for the purposes of the Tax Act with a “specified shareholder” (within the meaning of subsection 18(5) of the Tax Act) of the Corporation at the time of payment;               |

| (h) | to any person in respect of whom such Canadian Taxes (as defined in the Prospectus) are required to be withheld                                    
 or deducted as a result of the Corporation being a “specified entity” (as defined in subsection 18.4(1) of the Tax Act) in respect of such person; |

| (i) | any withholding or deduction imposed pursuant to or in connection with (i) Sections 1471 to 1474 of the                                                                                                                                         
 U.S. Internal Revenue Code of 1986, as amended, or any successor version thereof, or any similar legislation imposed by any other governmental authority, (ii) any agreements (including intergovernmental agreements) with respect thereto, or 
 (iii) any treaty, law, regulation, or official interpretation enacted by Canada or any other governmental authority implementing any of the foregoing; or                                                                                       |

| (j) | for any combination of any of the items described in paragraphs (a) to (i) above. |

nor will additional amounts be paid with respect to any payment on the Notes to a holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent such payment would be required by the laws of Canada (or any political subdivision thereof) to be included in the income for Canadian federal income tax purposes of a beneficiary or settlor with respect to such fiduciary or a member of such partnership or a beneficial owner who would not have been entitled to payment of the additional amounts had such beneficiary, settlor, member or beneficial owner been the holder of the Notes. The Corporation will furnish to the