Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 218

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 218
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38.6 |
| Series I - exchangeable securities(1)        |       |                             |           0.4 |     |     |           0.4 |     |     |           0.4 |
| Preferred shares issued and                  
 outstanding                                  |       |                             |          39.0 |     |     |          39.0 |     |     |          39.0 |

| (1) | Brookfield invested $400 million in consideration for redeemable, retractable, first                                                                  
 preferred shares. For accounting purposes, these preferred shares are considered debt and disclosed as such in the consolidated financial statements. |

Non-ControllingInterests On Oct. 5, 2023, the Company acquired all of the outstanding common shares of TransAlta Renewables not already owned, directly or indirectly, by TransAlta and certain of its affiliates. As at Dec. 31, 2024, the Company owned 50.01 per cent of TransAlta Cogeneration, LP (TA Cogen) (Dec. 31, 2023 – 50.01 per cent), which owns, operates or has an interest in three natural-gas-firedcogeneration facilities (Ottawa, Windsor and Fort Saskatchewan) and a natural-gas-firedfacility (Sheerness). On Dec. 4, 2024, the Company acquired the remaining 50 per cent interest in Sheerness as part of the Heartland acquisition. As at Dec. 31, 2024, the Company owned 83 per cent of Kent Hills Wind LP (Dec. 31, 2023 - 83 per cent), which owns and operates three wind facilities. Since the Company owns a controlling interest in TA Cogen and Kent Hills Wind LP, we consolidated the entire earnings, assets and liabilities in relation to the subsidiaries. Earnings, assets and liabilities of these subsidiaries, and of TransAlta Renewables prior to Oct. 5, 2023, were allocated to the other owners in proportion to their ownership interests. On Oct. 5, 2023, the Company acquired all of the outstanding common shares of TransAlta Renewables not already owned, directly or indirectly. The reported net earnings attributable to non-controllinginterests for the year ended Dec. 31, 2024, decreased by $91 million, compared to 2023, primarily as a result of lower TA Cogen net earnings attributable to non- controlling interests resulting from lower production and