Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 31

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 31
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 all other unsubordinated and
unsecured indebtedness of the Corporation.

Payment of the principal, premium, if any, and interest on the Notes will be made in
U.S. dollars.

Form and Denominations

The Notes will be issuable in minimum denominations of US$2,000 or integral multiples of US$1,000 in excess thereof. The Notes will be
represented by one or more fully registered global notes deposited in book-entry form with DTC, New York, New York, and registered in the name of Cede & Co. (DTC’s partnership nominee) or such other name as may be
requested by an authorized representative of DTC.

The Notes will initially be issued in an aggregate principal amount of US$400,000,000
and will mature on February 1, 2034. The Notes will bear interest at the rate of 5.875% per annum from December 22, 2025 or from the most recent date to which interest has been paid or provided for, payable semi-annually on
February 1 and August 1 of each year, commencing August 1, 2026 (long first coupon), to the persons in whose names the Notes are registered at the close of business on the preceding January 15 or
July 15, respectively. Interest shall be computed assuming a 360-day year consisting of twelve 30-day months.

The Corporation may from time to time, without the consent of the holders of the Notes, issue additional Notes after this offering. The Notes
and any additional Notes subsequently issued under the Indenture will be treated as a single class for all purposes under the Indenture (except in respect of the payment of interest accruing prior to the issue date of the additional Notes and the
first payment of interest following the issue date of the additional Notes), including, without limitation, waivers, amendments, redemptions and offers to purchase.

The Notes will not be entitled to the benefits of any sinking fund.

Optional Redemption

On and after
February 1, 2029, the Corporation may, at its option on one or more occasions, redeem all or a part of the Notes, upon notice as described under “–Selection and Notice”, at the redemption prices
(expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, on the Notes to be redeemed to, but not including, the applicable redemption date (subject to the right of holders of record on the