Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 82

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 82
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)                                         |     |      |  10 |   |     |      |  76 |   |     |      |   55 |   |
|                                                                             |     |      | 444 |   |     |      | 893 |   |     |      | (263 | ) |

| (1) | Net of income tax expense of $3 million for the year ended Dec. 31, 2024 (2023 — 
 $1 million recovery, 2022 — $12 million expense).                                |

| (2) | Net of income tax recovery of $4 million for the year ended Dec. 31, 2024 (2023 — 
 $1 million expense, 2022 — $3 million recovery).                                  |

| (3) | Net of income tax expense of $57 million for the year ended Dec. 31, 2024 (2023 — 
 $10 million expense, 2022 — $138 million recovery).                               |

| (4) | Net of reclassification of income tax recovery of $4 million for the year ended Dec. 31, 2024 
 (2023 — $17 million expense, 2022 — $26 million expense).                                     |

See accompanying notes.

| TransAlta Corporation |     | 2024 Integrated Report |     | F10 |

Consolidated Financial Statements Consolidated Statements of Financial Position (in millions of Canadian dollars)

| As at Dec. 31                                                             |     | 2024 |        |     | 2023 |        |
|:--------------------------------------------------------------------------|:----|:-----|-------:|:----|:-----|-------:|
| Current assets                                                            |     |      |        |     |      |        |
| Cash and cash equivalents                                                 |     |      |    337 |     |      |    348 |
| Restricted cash (Note 25)                                                 |     |      |     69 |     |      |     69 |
| Trade and other receivables (Note 13)                                     |     |      |    767 |     |      |    807 |
| Prepaid expenses and other                                                |     |      |     68 |     |      |     48 |
| Risk management assets (Note 14 and 15)                                   |     |      |    318 |     |      |    151 |
| Inventory (Note 16)                                                       |     |      |    134 |     |