Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 171

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 171
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------:|:----|:-------------|----:|:----|:-----|----:|:----|:------------------|----:|:----|:-----|----:|:----|:-------------|----:|:----|:-----|----:|
| Canada        |     |                     | 3,828 |     |      | 3,578 |     |              |  41 |     |      |  43 |     |                   | 170 |     |      | 108 |     |              |  85 |     |      |  68 |
| U.S.          |     |                     | 1,852 |     |      | 1,749 |     |              |  74 |     |      |  71 |     |                   |  86 |     |      |  88 |     |              |  36 |     |      |  42 |
| Western       
 Australia     |     |                     |   340 |     |      |   387 |     |              |   5 |     |      |   3 |     |                   |  25 |     |      |  27 |     |              |  58 |     |      |  69 |
| Total         |     |                     | 6,020 |     |      | 5,714 |     |              | 120 |     |      | 117 |     |                   | 281 |     |      | 223 |     |              | 179 |     |      | 179 |

D. Significant Customer For the year ended Dec. 31, 2024, sales to the Alberta Electric System Operator represented 24 per cent of the Company’s total revenue (2023 — 46 per cent of the Company’s total revenue). There were no other companies that accounted for more than 10 per cent of the Company’s total revenue.

| F107 |     | TransAlta Corporation |     | 2024 Integrated Report |

EXHIBIT “B”

ANNUAL MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2024

See attached.

SB-1

TRANSALTA CORPORATION Management’s Discussion and Analysis This Management’s Discussion and Analysis (MD&A) contains forward-looking statements. These statements are based on certain estimates and assumptions and involve risks and